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English news

20-Aug-2017

Automotive directive likely to be delayed due to lack of consensus

Auto industry insiders doubt that the automotive directive will be passed in November as previously expected, due to objections by key parties including car importers and the EU on some regulations of the law, such as the minimum requirements of domestic content and production volume necessary to benefit from tax incentives. According to Hassan Moustafa, head of the automotive division of the Federation of Egyptian Chambers of Commerce, ten key points of legislation are still being contested, which are unlikely to be resolved within three months. Also, the bill is likely to await the completion of the report by the German consultant, who was hired by the Trade and Industry Ministry to help in drafting the automotive directive. 

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