The government intends to prepare a program to support and develop Egyptian exports, based on the state’s strong interest in the industry and the development of the export system to help Egyptian exports reach various global and regional markets and achieve the desired goals for national economic growth, Prime Minister Mostafa Madbouli told a high-level meeting to follow up on the latest developments and proposals for the new export rebates program.
Minister of Finance Mohamed Maait, Minister of Trade and Industry Ahmed Samir, Shereen El Sharkawy, and Executive Director of the Export Development Fund Amani Al-Wasal attended the meeting.
The new program will last for up to three years, with an estimated cost of EGP 28 to 30 billion in its first fiscal year, Cabinet Spokesman Nader Saad said in a statement following the meeting.
It is expected to be put into force as of July, he added.
The automated system for the export support program will be implemented in connection with the new program on July 1, contributing to the timely payment of dues to exporters, the spokesman said.
Source: State Information Service Egypt