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English news

11-Dec-2019

Auto manufacturing incentive programme to be submitted to House of Representatives for approval soon

An auto manufacturing incentive programme is expected to be submitted to the House of Representatives for review and approval soon, according to Head of the Industrial Development Authority’s domestic manufacturing department. The proposed programme includes amendments to the Customs Act that will provide custom discounts to car manufacturers for increasing their usage of local components. According to sources, the proposed programme has already been cleared with the European Union and will not violate any of Egypt’s trade agreements. Earlier in July, two government officials confirmed that Cabinet had approved the Customs Act amendments, which will reportedly split customs breaks into three tiers, according to the percentage of the local content used.

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