The new cash payment initiative for
export shipments will be implemented as of July 1, 2021, with an 8% accelerated payment discount instead of the current 15%.
Cairo- Feb 3, 2022
Minister of Finance Mohamed Maait
and Minister of Trade and Industry Nevine Gamea have announced, at a joint
meeting, launching the new cash payment initiative for export shipments as of
July 1, 2021, with an 8% accelerated payment discount instead of the current 15%.
All export sectors will be able to
benefit from the initiative, the two ministers said.
The government, Maait pointed out, has
supported the export sector with some EGP 31 billion for 3,000 exporting
companies since the start of the lump sum payout initiative for export subsidy arrears
in October 2019, where the fourth phase is currently being completed.
“The initiatives launched by the
government over the past two years to support the sector boosted Egypt’s
exports last year, pushing the $32-billion barrier for the first time,” Gamea noted.