{"id":553061,"date":"2022-10-18T13:43:56","date_gmt":"2022-10-18T13:43:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/18\/this-evening-house-signs-off-on-ev-bill-and-car-imports-for-expats-trussonomics-is-dead\/"},"modified":"2022-10-18T13:43:56","modified_gmt":"2022-10-18T13:43:56","slug":"this-evening-house-signs-off-on-ev-bill-and-car-imports-for-expats-trussonomics-is-dead","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/18\/this-evening-house-signs-off-on-ev-bill-and-car-imports-for-expats-trussonomics-is-dead\/","title":{"rendered":"THIS EVENING: House signs off on EV bill and car imports for expats + Trussonomics is dead"},"content":{"rendered":"<p><strong>Happy hump day, ladies and gentlemen.<\/strong> It\u2019s shaping up to be a legislation-heavy news day, as the House of Representatives pushes through a handful of closely-watched bills.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>House greenlights all things automotive: <\/strong>The House of Representatives\u2019 general assembly gave final approval today to two separate bills: One that will see the establishment of the Supreme <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/d8c44e38-2cea-4dc5-ba60-de5aac32a3fa\">Council for Vehicle Manufacturing and a new EV finance fund<\/a> in a bid to localize the automotive industry and another that will allow expat Egyptians to<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/30f774c7-53ed-44fb-b8cc-2cbd3b37fa9e\">import cars<\/a> and get customs and fees drawbacks. The Finance Ministry is expected to publish a detailed list of the customs and required FX deposit sizes for different car models within two weeks of the law being published in the Official Gazette.<\/p>\n<p><strong>^^We\u2019ll have more details<\/strong> on this and other stories in tomorrow\u2019s edition of <strong>EnterpriseAM<\/strong>.<\/p>\n<p><strong>The THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>It\u2019s a relatively mixed bag in the international business press this afternoon.<\/strong> Among the stories getting front-page ink: Goldman Sachs is revamping the structure of its business units, consolidating its trading and investment banking divisions as the bank reported a 43% y-o-y drop in its bottomline, the <a href=\"https:\/\/www.ft.com\/content\/cac2059d-4ead-4415-a7ef-74cdfc3c13d2\">Financial Times<\/a> reports. Elsewhere, UK Prime Minister Liz Truss\u2019 ill-timed economic policy plans are officially dead and are now being replaced by \u201ceye-watering\u201d spending cuts, <a href=\"https:\/\/www.reuters.com\/world\/uk\/british-pm-truss-apologises-economic-plan-spending-cuts-come-2022-10-18\/\">Reuters<\/a> and <a href=\"https:\/\/www.cnbc.com\/2022\/10\/18\/uk-pm-liz-truss-trickle-down-economics-is-dead-after-u-turns.html\">CNBC<\/a> report.<\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>We have a once-a-century chance to build an export-led economy that makes us a magnet for FDI.<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38b5c211-3fe1-45e2-be08-432520c4f43a\">We\u2019ve spoken with<\/a> some of the smartest people we know in the private sector, and they all agree that it\u2019s not only possible \u2014 the recipe is simple.<\/li>\n<li><strong>Maait hits the airwaves:<\/strong> The announcement on our assistance loan from the IMF will come \u201cquickly,\u201d Finance Minister Mohamed Maait <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de50fc9c-9226-4272-ac4e-b9603e601031\">said yesterday<\/a>, stressing that the most important outcome is the message the agreement will send to the world \u2014 that Egypt is working on economic reforms supported by the IMF.<\/li>\n<li><strong>Investors see 14% deval ahead of IMF agreement:<\/strong> Three-month non-deliverable forwards on the EGP \u2014 i.e., where investors think the currency could end up in three months\u2019 time \u2014 <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc7ed706-068f-4c32-8633-c684cc37efbd\">slipped to EGP 22.90<\/a> against the greenback on Monday<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>The Suez Canal Economic Zone (SCZone) will launch a promotional campaign ahead of <\/strong><strong>COP27<\/strong> on potential investments in the zone next week, SCZone head Walid Gamal El Din said, according to a<a href=\"https:\/\/bit.ly\/3T5CAsr\">statement<\/a>. The campaign will be launched domestically next Sunday, 23 October, before the international campaign kicks off on Monday, 24 October.<\/p>\n<p><strong>The Madbouly government\u2019s economic conference <\/strong>takes place Sunday-Tuesday next week. You can find the <a href=\"https:\/\/www.eec2022.gov.eg\/\">agenda for the conference here<\/a>.<\/p>\n<p><strong>Egypt and the UAE will host a two-day conference marking 50 years of bilateral ties. <\/strong>The gathering will take place next Wednesday-Friday, 26-28 October and is being produced in association with the two governments.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect temperatures to rise slightly to 29\u00b0C during the day tomorrow before falling to 19\u00b0C at night, our favorite weather app tells us.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Happy hump day, ladies and gentlemen. It\u2019s shaping up to be a legislation-heavy news day, as the House of Representatives pushes through a handful of closely-watched bills. THE BIG STORY TODAY House greenlights all things automotive: The House of Representatives\u2019 general assembly gave final approval today to two separate bills: One that will see the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[144,633,274,187,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553061","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-automotive","tag-enterprisepm","tag-house-of-representatives","tag-legislation-watch","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"80a1b114-16b6-4e05-a58d-c50bf9df1558","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[553059],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: House signs off on EV bill and car imports for expats + Trussonomics is dead - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/18\/this-evening-house-signs-off-on-ev-bill-and-car-imports-for-expats-trussonomics-is-dead\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: House signs off on EV bill and car imports for expats + Trussonomics is dead\" \/>\n<meta property=\"og:description\" content=\"Happy hump day, ladies and gentlemen. It\u2019s shaping up to be a legislation-heavy news day, as the House of Representatives pushes through a handful of closely-watched bills. 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Among the acts that made it through parliament:Customs incentives for EV + clean energy firms: A change to customs rules that make it\u2026","rel":"","context":"In &quot;LEGISLATION WATCH&quot;","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/170.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550225,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/19\/is-egypt-finally-getting-serious-about-its-domestic-auto-assembly-industry\/","url_meta":{"origin":553061,"position":1},"title":"Is Egypt finally getting serious about its domestic auto assembly industry?","author":"enterpriseam admin","date":"19 October 2022","format":false,"excerpt":"Auto assembly legislation + expat car import scheme get parliament sign-off: The House of Representatives\u2019 general assembly gave its final approval yesterday to two separate bills of particular interest to car assemblers and distributors. The first is legislation that will see the establishment of a new council to set policy\u2026","rel":"","context":"In &quot;Automotive&quot;","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/266.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625091,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/26\/eba-prepares-remarks-on-customs-act-to-present-to-house-of-representatives\/","url_meta":{"origin":553061,"position":2},"title":"EBA prepares remarks on Customs Act to present to House of Representatives","author":"enterpriseam admin","date":"26 September 2018","format":false,"excerpt":"The Egyptian Businessmen\u2019s Association (EBA) is laying out its remarks and concerns on the Finance Ministry\u2019s draft of a new Customs Act, Youm7 reports. The EBA plans to present these remarks to the House of Representatives once it convenes for its fourth legislative session next month. A primary concern the\u2026","rel":"","context":"In &quot;Legislation + Policy&quot;","block_context":{"text":"Legislation + Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":641658,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/28\/what-were-tracking-on-28-september-2017\/","url_meta":{"origin":553061,"position":3},"title":"What we\u2019re tracking on 28 September 2017","author":"enterpriseam admin","date":"28 September 2017","format":false,"excerpt":"It\u2019s interest rate day: The central bank\u2019s Monetary Policy Committee meets today to decide on key interest rates. Ten of 12 economists polled by Reuters see the central bank leaving rates on hold as inflation hasn\u2019t cooled enough for the CBE to declare victory. Enjoy your last weekend of peace\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621557,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/12\/egypt-cabinet-to-introduce-new-customs-act\/","url_meta":{"origin":553061,"position":4},"title":"Egypt cabinet to introduce new customs act","author":"enterpriseam admin","date":"12 November 2018","format":false,"excerpt":"LEGISLATION WATCH- Cabinet will introduce a Customs Act in the House within the coming few weeks, Finance Minister Mohamed Maait told the committee yesterday. The bill is meant to bring customs legislation in line with international agreements and raise Egypt\u2019s ranking in a number of global indices, including the World\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547096,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/08\/house-gives-final-nod-to-amended-customs-tariffs-in-bid-to-localize-industry\/","url_meta":{"origin":553061,"position":5},"title":"House gives final nod to amended customs tariffs in bid to localize industry","author":"enterpriseam admin","date":"8 June 2022","format":false,"excerpt":"House gives the nod to amended customs tariffs: The House of Representatives yesterday gave its final approval to a presidential decree amending customs duties on hundreds of imports.All part of the localization push: The changes in tariffs came to promote investment, boost exports, and protect local industries, according to Yasser\u2026","rel":"","context":"In &quot;LEGISLATION WATCH&quot;","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/194.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553061","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=553061"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553061\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/553059"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=553061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=553061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=553061"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=553061"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=553061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}