{"id":597245,"date":"2019-07-21T04:01:56","date_gmt":"2019-07-21T04:01:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/govt-unveils-new-egp-6-bn-per-year-export-subsidy-framework\/"},"modified":"2019-07-21T04:01:56","modified_gmt":"2019-07-21T04:01:56","slug":"govt-unveils-new-egp-6-bn-per-year-export-subsidy-framework","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/govt-unveils-new-egp-6-bn-per-year-export-subsidy-framework\/","title":{"rendered":"Gov\u2019t unveils new EGP 6 bn per year export subsidy framework"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <b>Gov\u2019t unveils new EGP 6 bn per year export subsidy framework:<\/b> The government unveiled the details of the long-awaited new framework for disbursing export subsidies. The new framework would disburse EGP 6 bn per year in export subsidies through the Export Subsidies Fund starting from FY2019-20, according to <a href=\"https:\/\/ent.news\/2019\/7\/93.pdf\">a statement by the fund released on Thursday (pdf)<\/a>. Some EGP 2.4 bn (or 40%) of the EGP 6 bn will be disbursed as a cash payment to exporters, the Export Subsidy Fund\u2019s board said upon ratifying the framework. 30% of the annual disbursement, or EGP 1.8 bn, will be doled out through tax breaks and cuts to payments owed to the Finance Ministry. The remaining EGP 1.8 bn will be spent by the fund to \u201cbuild up Egypt\u2019s export capacities.\u201d This would mean funding to developing facilities as well as promoting Egypt\u2019s exports abroad, the statement goes on to explain.<\/p>\n<p><b>You get bonus points if you raise exports, export to Africa, or are an SME:<\/b> Corporations and medium-sized companies that raise their exports by 20-30% y-o-y will see their export subsidies raised by 15-30%. Small enterprises that have managed to increase their exports 20-30% can expect a 20-30% increase their annual allocation of export subsidies. The fund will continue to set aside an additional EGP 40 mn in subsidies to those exporting to Africa, the statement says.<\/p>\n<p><b>Conditions:<\/b> To benefit from these incentives, exporters need to source 40% of their production inputs domestically, the ministry said.<\/p>\n<p><b>The program has the endorsement of a number of Egypt\u2019s business associations<\/b>, including the Federation of Egyptian Industries, the statement assured.<\/p>\n<p><b>Mechanism for payment of overdue subsidies yet to be clarified: <\/b>While the statements give us clarity on how the fund will run moving forward, it provides very little detail on the mechanisms for how outdated and overdue export subsidies are to be paid. Here\u2019s what we know: The government is currently making the determination on how much export subsidies are due on a sector-by-sector basis, said Trade and Industry Minister Amr Nassar. The Finance Ministry is planning to publish a detailed accounting of what is owed by the government before settling up with the Export Subsidies Fund, Minister Mohamed Maait said. The statement also implied that the fund will set up an electronic platform to facilitate the red tape in applying for overdue export subsidies. <a href=\"https:\/\/enterprise.press\/stories\/2019\/07\/18\/egypts-exporters-have-four-new-ways-to-claim-their-overdue-payments\/\">We had noted reports on Thursday<\/a> that the Madbouly Cabinet had approved a mechanism for repayment, whereby exporters could receive discounts on their obligations to the electricity, oil, and investment ministries and claim redeemable IOUs from the Finance Ministry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gov\u2019t unveils new EGP 6 bn per year export subsidy framework: The government unveiled the details of the long-awaited new framework for disbursing export subsidies. The new framework would disburse EGP 6 bn per year in export subsidies through the Export Subsidies Fund starting from FY2019-20, according to a statement by the fund released on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":597246,"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":[72,332,276,2380,98,483],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-export-subsidy-fund","tag-finance-ministry","tag-speed-round","tag-subsidies","tag-trade-and-industry-ministry","wpautop","entry"],"acf":{"mongo_id":"436cf20d-513f-4eb0-8d6c-fb916b529d86","is_powered_by":true,"section_story_id":"4d4d3eb7-cc68-4a66-97b3-c12fce56eb92","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/2\/120.jpg","photo_position":"above","related_issue":[597238],"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>Gov\u2019t unveils new EGP 6 bn per year 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\/07\/21\/govt-unveils-new-egp-6-bn-per-year-export-subsidy-framework\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t unveils new EGP 6 bn per year export subsidy framework\" \/>\n<meta property=\"og:description\" content=\"Gov\u2019t unveils new EGP 6 bn per year export subsidy framework: The government unveiled the details of the long-awaited new framework for disbursing export subsidies. The new framework would disburse EGP 6 bn per year in export subsidies through the Export Subsidies Fund starting from FY2019-20, according to a statement by the fund released on [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/govt-unveils-new-egp-6-bn-per-year-export-subsidy-framework\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-21T04:01:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/120.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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/govt-unveils-new-egp-6-bn-per-year-export-subsidy-framework\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/govt-unveils-new-egp-6-bn-per-year-export-subsidy-framework\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t unveils new EGP 6 bn per year export subsidy framework\",\"datePublished\":\"2019-07-21T04:01:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/govt-unveils-new-egp-6-bn-per-year-export-subsidy-framework\/\"},\"wordCount\":438,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/govt-unveils-new-egp-6-bn-per-year-export-subsidy-framework\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/2\/120.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"export subsidy fund\",\"Finance Ministry\",\"SPEED ROUND\",\"subsidies\",\"Trade and Industry Ministry\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/govt-unveils-new-egp-6-bn-per-year-export-subsidy-framework\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/21\/govt-unveils-new-egp-6-bn-per-year-export-subsidy-framework\/\",\"name\":\"Gov\u2019t unveils new EGP 6 bn per year export subsidy framework - 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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 &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":602685,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/03\/export-subsidies-to-include-cash-settlements-and-logistical-support\/","url_meta":{"origin":597245,"position":1},"title":"Export subsidies to include cash, settlements and logistical support","author":"enterpriseam admin","date":"3 April 2019","format":false,"excerpt":"Has the export subsidies flap finally settled? The Export Subsidy Fund\u2019s board of directors has agreed to a general strategy framework for reimbursements in an attempt to increase exports and improve the trade balance, according to a Trade Ministry statement (pdf). The new framework, which will come into effect in\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":621743,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/18\/whats-happening-with-the-promised-release-of-export-subsidy-funds-ask-egypts-exporters\/","url_meta":{"origin":597245,"position":2},"title":"What\u2019s happening with the promised release of export subsidy funds, ask Egypt\u2019s exporters","author":"enterpriseam admin","date":"18 November 2018","format":false,"excerpt":"What\u2019s happening with the promised release of export subsidy payments, ask Egypt\u2019s exporters: Egyptian exporters frustrated by what they feel is a lack of action from the government on releasing long-overdue export subsidies are urging Prime Minister Moustafa Madbouly to take action. Egypt\u2019s export councils, along with the Egyptian Businessmen\u2019s\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":573138,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/21\/egypt-settles-egp-6-bn-in-overdue-export-subsidies-earmarks-another-egp-7-bn-for-current-fiscal-year\/","url_meta":{"origin":597245,"position":3},"title":"Egypt settles EGP 6 bn in overdue export subsidies, earmarks another EGP 7 bn for current fiscal year","author":"enterpriseam admin","date":"21 July 2020","format":false,"excerpt":"Gov\u2019t disbursed EGP 6 bn in export subsidies last fiscal year, earmarks another EGP 7 bn for the new fiscal year: The Export Subsidy Fund doled out a total of EGP 6 bn in overdue export subsidies to 1,667 companies in FY2019-2020, according to a cabinet statement. The government has\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":594778,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/08\/egyptian-exporters-have-yet-to-receive-support-from-the-government\/","url_meta":{"origin":597245,"position":4},"title":"Egyptian exporters have yet to receive support from the government","author":"enterpriseam admin","date":"8 September 2019","format":false,"excerpt":"Gov\u2019t has yet to settle overdue export subsidies: The Finance Ministry has yet to settle the overdue export subsidies owed to exporters, a number of businesses told Al Masry Al Youm. No contracts have yet been inked since officials reached an agreement in May with the companies to settle the\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\/2020\/2\/120.jpg?fit=%2C&ssl=1&resize=350%2C200","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":597245,"position":5},"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 &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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597245","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=597245"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597245\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597238"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597246"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597245"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597245"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}