Investment Magazine / Exclusive
In a move aimed at enhancing the local investment climate and expanding the scope of national industries, the Ministry of Economy, Industry and Investment— in collaboration with the Tax Authority, Customs Authority, and the Chamber of Commerce and Industry in the Capital Secretariat—has approved the acceleration and simplification of procedures for local garment manufacturers to obtain exemptions granted under the Presidential Decree on textile sector incentives and privileges.
This initiative aligns with Investment Law No. 3 of 2025, which introduced a set of qualitative incentives for industrial projects, particularly those contributing to import substitution and the localization of production.
The meeting, which brought together representatives from government entities and the private sector, was held on Tuesday, April 22, 2025. It concluded with the approval of a joint implementation mechanism aimed at ensuring effective procedures and enabling the sector to benefit swiftly from the granted privileges. This falls within a broader national strategy to promote the growth of manufacturing industries, empower productive families, and create sustainable job opportunities.
His Excellency Eng. Moein Al-Mahqari, Minister of Economy, affirmed that activating these exemptions serves as a key tool for supporting the local garment industry. He also emphasized the importance of ongoing impact evaluation and the continuous development of mechanisms in line with industrial development priorities.
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