{"id":576912,"date":"2022-11-02T04:00:01","date_gmt":"2022-11-02T04:00:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/some-imports-will-be-released-immediately-from-ports\/"},"modified":"2022-11-02T04:00:01","modified_gmt":"2022-11-02T04:00:01","slug":"some-imports-will-be-released-immediately-from-ports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/some-imports-will-be-released-immediately-from-ports\/","title":{"rendered":"Some imports will be released immediately from ports"},"content":{"rendered":"

<\/a> A small sigh of relief: <\/strong>The Trade and Industry Ministry will allow the immediate release of some goods imported for private use in a bid to reduce the clutter at ports, according to a ministry letter sent to the Customs Authority seen by Enterprise.<\/p>\n

The date matters:<\/strong> The ministry will exempt goods imported for private use before 26 October<\/strong> from import regulations, allowing them to be released from ports.<\/p>\n

But it doesn\u2019t matter who you are:<\/strong> Custom Authority sources told Enterprise that the decision will apply to individuals, companies and factories \u2014 provided that the imports are for private use.<\/p>\n

No need for a L\/C or a Form 4:<\/strong> They added that per the new decision the shipments would be immediately released without the need for L\/Cs or aForm 4<\/a> customs document. They will only have to submit the authorization for release and proof of payment.<\/p>\n

Form 4?<\/strong> Form 4 is an important customs document importers submit to banks to release their goods. The paper represents a pledge to pay, allowing the bank to provide either a letter of credit (L\/C) or to finalize the process of documentary collection.<\/p>\n

REMEMBER- Import restrictions are expected to be a thing of the past before the year is out:<\/strong> The Central Bank of Egypt announced last week<\/a> that it would gradually phase out import restrictions<\/a> introduced in February to prevent a shortage of FX from intensifying. The central bank made it mandatory for importers to use letters of credit to pay for imports, a requirement which made it almost impossible for businesses to get goods into the country, causing shortages of industrial and consumer goods and disrupting production in a range of industries.<\/p>\n","protected":false},"excerpt":{"rendered":"

A small sigh of relief: The Trade and Industry Ministry will allow the immediate release of some goods imported for private use in a bid to reduce the clutter at ports, according to a ministry letter sent to the Customs Authority seen by Enterprise. The date matters: The ministry will exempt goods imported for private […]<\/p>\n","protected":false},"author":1,"featured_media":576913,"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":[7226],"tags":[271,309,6343,72,1415],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-576912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-customs","tag-central-bank-of-egypt","tag-customs","tag-documentary-collection","tag-enterpriseam","tag-l-cs","wpautop","entry"],"acf":{"mongo_id":"0804cef1-cff7-4b45-a752-01de3a0e527a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/55.jpg","photo_position":"above","related_issue":[576902],"teaser":"","voice_url":""},"yoast_head":"\nSome imports will be released immediately from ports - 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\/11\/02\/some-imports-will-be-released-immediately-from-ports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Some imports will be released immediately from ports\" \/>\n<meta property=\"og:description\" content=\"A small sigh of relief: The Trade and Industry Ministry will allow the immediate release of some goods imported for private use in a bid to reduce the clutter at ports, according to a ministry letter sent to the Customs Authority seen by Enterprise. The date matters: The ministry will exempt goods imported for private […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/some-imports-will-be-released-immediately-from-ports\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-02T04:00:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/55.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/some-imports-will-be-released-immediately-from-ports\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/some-imports-will-be-released-immediately-from-ports\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Some imports will be released immediately from ports\",\"datePublished\":\"2022-11-02T04:00:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/some-imports-will-be-released-immediately-from-ports\/\"},\"wordCount\":286,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/some-imports-will-be-released-immediately-from-ports\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/55.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Central Bank of Egypt\",\"customs\",\"documentary collection\",\"EnterpriseAM\",\"L\/Cs\"],\"articleSection\":[\"Customs\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/some-imports-will-be-released-immediately-from-ports\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/some-imports-will-be-released-immediately-from-ports\/\",\"name\":\"Some imports will be released immediately from ports - 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