{"id":595126,"date":"2019-09-17T03:56:45","date_gmt":"2019-09-17T03:56:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/17\/egypt-kicks-off-new-export-subsidy-program-says-overdue-payments-on-the-way\/"},"modified":"2019-09-17T03:56:45","modified_gmt":"2019-09-17T03:56:45","slug":"egypt-kicks-off-new-export-subsidy-program-says-overdue-payments-on-the-way","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/17\/egypt-kicks-off-new-export-subsidy-program-says-overdue-payments-on-the-way\/","title":{"rendered":"Egypt kicks off new export subsidy program, says overdue payments on the way"},"content":{"rendered":"

<\/a> Gov\u2019t kicks off EGP 6 bn export subsidy program, says more overdue payments on the way: <\/b>The government has started implementing the EGP 6 bn new export subsidy framework and is taking more steps to settle the overdue payments promised by the Export Subsidy Fund since 2012, Finance Minister Mohamed Maait said at a presser yesterday, according to two cabinet statements (here<\/a> and here<\/a>). Around 1,000 small companies and exporters will be receiving their dues \u201cimmediately.\u201d<\/p>\n

Larger companies, meanwhile, will be encouraged to commit to new investments to speed up their payments.<\/b> They will be given 10% of their arrears \u201con the spot,\u201d and will be provided with several options to receive the remainder of their arrears. The options include writing off any taxes or customs owed to the government, investing in domestic manufacturing and getting in return priority treatment, and\/or applying for industrial land at a discount through the government\u2019s new online land allocation portal.<\/p>\n

How much are we looking at? <\/b>The Egyptian Businessmen\u2019s Association estimated last year<\/a> that the government could owe exporters EGP 9 bn. Others in the field have put the figure even higher. The Finance Ministry said earlier this week<\/a> in the process of giving back EGP 800 mn thorough tax breaks, and added that EGP 2 bn are expected to be settled by other alternatives. This came after Minister Mohamed Maait said<\/a> last week the ministry has already disbursed EGP 1.4 bn over the past few weeks. <\/p>\n","protected":false},"excerpt":{"rendered":"

Gov\u2019t kicks off EGP 6 bn export subsidy program, says more overdue payments on the way: The government has started implementing the EGP 6 bn new export subsidy framework and is taking more steps to settle the overdue payments promised by the Export Subsidy Fund since 2012, Finance Minister Mohamed Maait said at a presser […]<\/p>\n","protected":false},"author":1,"featured_media":595127,"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":[8572],"tags":[72,332,131,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-export-subsidy-fund","tag-manufacturing","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"2223e5e9-90ab-4345-a0a7-5fbe52b1657e","is_powered_by":true,"section_story_id":"67e8f195-e6df-4f4f-9fd4-9133f27d3228","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/2\/120.jpg","photo_position":"above","related_issue":[595113],"teaser":"","voice_url":""},"yoast_head":"\nEgypt kicks off new export subsidy program, says overdue payments on the way - 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Exporters have been awaiting clarity on how the government is planning to implement the new program, which will see some EGP 2.4 bn (40%)\u2026","rel":"","context":"In "Speed Round"","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":595544,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/30\/dice-says-govt-owes-it-egp-200-mn-in-export-subsidies\/","url_meta":{"origin":595126,"position":1},"title":"Dice says gov\u2019t owes it EGP 200 mn in export subsidies","author":"enterpriseam admin","date":"30 September 2019","format":false,"excerpt":"Dice wants a piece of the Export Subsidy Fund: Dice Sport and Casual Wear has said the government owes it EGP 200 mn in overdue export subsidies and has requested payment under the newly-implemented EGP 6 bn subsidy export framework, Al Mal reported. The company said it is owed EGP\u2026","rel":"","context":"In "Speed Round"","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":569744,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/05\/export-subsidy-fund-begins-paying-out-egp-1-bn-in-arrears\/","url_meta":{"origin":595126,"position":2},"title":"Export Subsidy Fund begins paying out EGP 1 bn in arrears","author":"enterpriseam admin","date":"5 March 2020","format":false,"excerpt":"Export Subsidy Fund begins paying out EGP 1 bn in arrears: The state-run Export Subsidy Fund on Tuesday began dispensing EGP 1-1.2 bn in overdue export subsidies, 10% of which will be doled out in cash payments, unnamed sources told the local press. The sources said 37 exporters requested that\u2026","rel":"","context":"In "Speed Round"","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":604721,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/11\/pm-vows-to-resolve-issue-of-overdue-export-subsidy-payments\/","url_meta":{"origin":595126,"position":3},"title":"PM vows to resolve issue of overdue export subsidy payments","author":"enterpriseam admin","date":"11 December 2018","format":false,"excerpt":"PM vows to end delays in payment of export subsidies: Prime Minister Moustafa Madbouly has vowed to resolve the issue of overdue export subsidy payments and keep track of delays with the help of the finance ministry, Edita Chairman and Food Export Council Head Hani Berzi told Al Mal. The\u2026","rel":"","context":"In "Speed Round"","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":591561,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/10\/egypts-export-subsidy-fund-to-pay-40-of-total-overdue-subsidies-before-mid-2020\/","url_meta":{"origin":595126,"position":4},"title":"Egypt\u2019s Export Subsidy Fund to pay 40% of total overdue subsidies before mid 2020","author":"enterpriseam admin","date":"10 December 2019","format":false,"excerpt":"The Export Subsidy Fund plans to disburse 40% of total overdue subsidies before mid-2020, head of the Textile Export Council Magdy Tolba said, according to Al Mal. A total of 370 companies are currently owed export subsidies. The fund signed nine agreements last week to settle EGP 1.4 bn-worth of\u2026","rel":"","context":"In "Speed Round"","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":574301,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/06\/export-subsidy-fund-to-pay-out-egp-400-mn-in-overdue-subsidies-in-september\/","url_meta":{"origin":595126,"position":5},"title":"Export Subsidy Fund to pay out EGP 400 mn in overdue subsidies in September","author":"enterpriseam admin","date":"6 September 2020","format":false,"excerpt":"The Export Subsidy Fund will dole out EGP 400 mn in export subsidies this month after inking 35 new agreements with exporters to disburse EGP 2 bn in subsidy arrears, Finance Minister Mohamed Maait said in a statement yesterday. This brings the total number of agreements signed with exporters since\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/68.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\/595126","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=595126"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595126\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/595113"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/595127"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=595126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=595126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=595126"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=595126"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=595126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}