{"id":595269,"date":"2019-09-22T04:20:36","date_gmt":"2019-09-22T04:20:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-signs-first-settlement-in-new-export-subsidy-framework\/"},"modified":"2019-09-22T04:20:36","modified_gmt":"2019-09-22T04:20:36","slug":"egypt-signs-first-settlement-in-new-export-subsidy-framework","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-signs-first-settlement-in-new-export-subsidy-framework\/","title":{"rendered":"Egypt signs first settlement in new export subsidy framework"},"content":{"rendered":"

<\/a> Exporter sees first settlement under long-anticipated export subsidy program: <\/b>The finance and trade ministries have signed a settlement agreement with Sumitomo Tires that will see the company receive overdue subsidies in less than five years as part of the government\u2019s new export subsidy framework<\/a>, the Finance Ministry said in a statement<\/a>. The company is planning to begin building a new EUR 10 mn factory in Port Said this month, which it expects to complete within six months, Managing Director Richard Nelson said. The factory will start production by mid-2020, he added.<\/p>\n

Background: <\/b>The government kicked off last week<\/a> a new export subsidy framework designed to promote exports as a main driver of economic growth. Under the program, around 1,000 small companies and exporters are set to receive their dues \u201cimmediately,\u201d while larger corporations will be encouraged to commit to new investments to speed up their payments. The Egyptian Businessmen\u2019s Association estimated last year that the government could owe exporters EGP 9 bn. Others in the field have put the figure even higher.<\/p>\n","protected":false},"excerpt":{"rendered":"

Exporter sees first settlement under long-anticipated export subsidy program: The finance and trade ministries have signed a settlement agreement with Sumitomo Tires that will see the company receive overdue subsidies in less than five years as part of the government\u2019s new export subsidy framework, the Finance Ministry said in a statement. The company is planning […]<\/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":[8572],"tags":[72,2380,98,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595269","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","tag-subsidies","tag-trade","wpautop","entry"],"acf":{"mongo_id":"8a0f5316-40eb-4027-bb31-64b270e5088b","is_powered_by":true,"section_story_id":"49df45a9-b39c-40ac-b576-d5761fb210e8","story_type":"1","photo_url":"","photo_position":"above","related_issue":[595260],"teaser":"","voice_url":""},"yoast_head":"\nEgypt signs first settlement in new export subsidy framework - 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\/2019\/09\/22\/egypt-signs-first-settlement-in-new-export-subsidy-framework\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt signs first settlement in new export subsidy framework\" \/>\n<meta property=\"og:description\" content=\"Exporter sees first settlement under long-anticipated export subsidy program: The finance and trade ministries have signed a settlement agreement with Sumitomo Tires that will see the company receive overdue subsidies in less than five years as part of the government\u2019s new export subsidy framework, the Finance Ministry said in a statement. The company is planning […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-signs-first-settlement-in-new-export-subsidy-framework\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-22T04:20:36+00:00\" \/>\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\/2019\/09\/22\/egypt-signs-first-settlement-in-new-export-subsidy-framework\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-signs-first-settlement-in-new-export-subsidy-framework\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt signs first settlement in new export subsidy framework\",\"datePublished\":\"2019-09-22T04:20:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-signs-first-settlement-in-new-export-subsidy-framework\/\"},\"wordCount\":180,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\",\"subsidies\",\"trade\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-signs-first-settlement-in-new-export-subsidy-framework\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/egypt-signs-first-settlement-in-new-export-subsidy-framework\/\",\"name\":\"Egypt signs first settlement in new export subsidy framework - 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