{"id":602002,"date":"2019-03-17T03:43:06","date_gmt":"2019-03-17T03:43:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/egypt-to-begin-implementing-new-exports-incentive-program-next-fiscal-year\/"},"modified":"2019-03-17T03:43:06","modified_gmt":"2019-03-17T03:43:06","slug":"egypt-to-begin-implementing-new-exports-incentive-program-next-fiscal-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/egypt-to-begin-implementing-new-exports-incentive-program-next-fiscal-year\/","title":{"rendered":"Egypt to begin implementing new exports incentive program next fiscal year"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <b>Gov\u2019t to begin implementing new export incentive program next fiscal year:<\/b> The government will begin implementing a new, flexible export incentive program next fiscal year, <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/1210610309117332\">according to a Cabinet statement<\/a>. The program will be implemented for a year as a trial with periodic meetings between the prime minister and export councils to review progress and evaluate exporters\u2019 performance.<\/p>\n<p><b>How much exporters will receive is not confirmed.<\/b> Abdel Hamid Demrdash, the head of the agricultural exports council, said a portion of the incentives will be in cash, with the balance written off against taxes, <a href=\"https:\/\/www.youm7.com\/story\/2019\/3\/14\/%D8%A7%D9%84%D8%AD%D8%A7%D8%B5%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%B2%D8%B1%D8%A7%D8%B9%D9%8A%D8%A9-%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF-%D9%84%D8%AF%D8%B9%D9%85-%D8%A7%D9%84%D8%B5%D8%A7%D8%AF%D8%B1%D8%A7%D8%AA-%D9%8A%D8%AA%D8%B6%D9%85%D9%86-40-%D8%AF%D8%B9%D9%85%D8%A7\/4172089\">according to Youm7<\/a>. Our own source at one of the nation\u2019s export councils told us no agreement has yet been reached. Exporters will be required to obtain a certificate from the Industrial Development Authority (IDA) making clear their percentage of local content to determine their eligibility for subsidies, <a href=\"https:\/\/www.almalnews.com\/Story\/413945\/14\/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%20%D9%88%D8%A3%D8%B3%D9%88%D8%A7%D9%82\">Al Mal reports<\/a>.<\/p>\n<p><b>Background:<\/b> The Finance Ministry <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/15\/finance-ministry-mulling-alternative-solutions-to-overdue-export-subsidy-funds\/\">has been looking<\/a> at different ways to pay out delayed export subsidies owed to a number of exporters. The new program will come as part of a larger strategy to double exports of manufactured goods to USD 50bn by 2025 and to encourage foreign and domestic investment in key sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gov\u2019t to begin implementing new export incentive program next fiscal year: The government will begin implementing a new, flexible export incentive program next fiscal year, according to a Cabinet statement. The program will be implemented for a year as a trial with periodic meetings between the prime minister and export councils to review progress and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":602003,"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":[97,72,131,2380,98,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-602002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-agriculture","tag-enterpriseam","tag-manufacturing","tag-speed-round","tag-subsidies","tag-trade","wpautop","entry"],"acf":{"mongo_id":"08cf2eca-8af0-4a32-9440-60e3315084c4","is_powered_by":true,"section_story_id":"61eabb52-c57b-437b-ac0a-9170cba77708","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/776.jpg","photo_position":"above","related_issue":[601990],"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>Egypt to begin implementing new exports incentive program next fiscal year - 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\/03\/17\/egypt-to-begin-implementing-new-exports-incentive-program-next-fiscal-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt to begin implementing new exports incentive program next fiscal year\" \/>\n<meta property=\"og:description\" content=\"Gov\u2019t to begin implementing new export incentive program next fiscal year: The government will begin implementing a new, flexible export incentive program next fiscal year, according to a Cabinet statement. The program will be implemented for a year as a trial with periodic meetings between the prime minister and export councils to review progress and [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/egypt-to-begin-implementing-new-exports-incentive-program-next-fiscal-year\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-17T03:43:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/776.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\/2019\/03\/17\/egypt-to-begin-implementing-new-exports-incentive-program-next-fiscal-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/egypt-to-begin-implementing-new-exports-incentive-program-next-fiscal-year\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt to begin implementing new exports incentive program next fiscal year\",\"datePublished\":\"2019-03-17T03:43:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/egypt-to-begin-implementing-new-exports-incentive-program-next-fiscal-year\/\"},\"wordCount\":210,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/egypt-to-begin-implementing-new-exports-incentive-program-next-fiscal-year\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/776.jpg?fit=%2C&ssl=1\",\"keywords\":[\"agriculture\",\"EnterpriseAM\",\"Manufacturing\",\"SPEED ROUND\",\"subsidies\",\"trade\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/egypt-to-begin-implementing-new-exports-incentive-program-next-fiscal-year\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/17\/egypt-to-begin-implementing-new-exports-incentive-program-next-fiscal-year\/\",\"name\":\"Egypt to begin implementing new exports incentive program next fiscal year - 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The program will be implemented for a year as a trial with periodic meetings between the prime minister and\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601389,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/27\/trade-industry-ministry-agrees-to-pay-egp-7-8-bn-of-export-subsidies\/","url_meta":{"origin":602002,"position":1},"title":"Trade &#038; Industry Ministry agrees to pay EGP 7.8 bn of export subsidies","author":"enterpriseam admin","date":"27 February 2019","format":false,"excerpt":"Trade Ministry reportedly agrees to pay export subsidies worth EGP 7.8 bn: The Trade and Industry Ministry will pay EGP 7.8 bn worth of overdue export subsidies to exporters, ministerial adviser Hossam Farid was quoted as saying by Hapi. His statement came during a meeting between ministry officials and 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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600471,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/egypt-working-on-new-incentive-program-to-boost-exports\/","url_meta":{"origin":602002,"position":2},"title":"Egypt working on new incentive program to boost exports","author":"enterpriseam admin","date":"30 January 2019","format":false,"excerpt":"Prime Minister Moustafa Madbouly has begun discussions with export councils on a new, and more efficient, incentives program the Trade Ministry is working on to replace the current one, according to a Cabinet statement. Madbouly will begin next week holding separate meetings with the councils amid efforts to boost exports\u2026","rel":"","context":"In &quot;Diplomacy + Foreign Trade&quot;","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":684853,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/04\/egypts-engineering-exporters-look-to-solve-freezone-incentive-gap-south-america-and-west-africa-exports-to-help-hit-usd-13-bn-export-target\/","url_meta":{"origin":602002,"position":3},"title":"Egypt\u2019s engineering exporters look to solve freezone incentive gap, South America and West Africa exports to help hit USD 13 bn export target","author":"enterpriseam admin","date":"4 February 2026","format":false,"excerpt":"To get there, the council is betting on a 15% annual growth rate","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/2\/277.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":600523,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/31\/egypt-to-launch-new-non-cash-incentive-program-for-exporters-in-march\/","url_meta":{"origin":602002,"position":4},"title":"Egypt to launch new non-cash incentive program for exporters in March","author":"enterpriseam admin","date":"31 January 2019","format":false,"excerpt":"A new non-cash incentive program for exporters that the Trade Ministry is working on will be launched in March, export council members tell Masrawy. Federation of Egyptian Industries boss Mohamed Elsewedy has suggested that the new program only apply to products that are at least 40% locally made, according to\u2026","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566397,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/export-subsidies-program-approved-by-cabinet-but-were-yet-to-hear-more\/","url_meta":{"origin":602002,"position":5},"title":"Export subsidies program approved by cabinet, but we\u2019re yet to hear more","author":"enterpriseam admin","date":"16 June 2021","format":false,"excerpt":"A new export support program got the green light from cabinet today and is due to come into play at the start of the state\u2019s new fiscal year on 1 July, according to a statement following the ministers\u2019 weekly meeting. The program will be similar to schemes Egypt has been\u2026","rel":"","context":"In &quot;SPEED ROUND: CABINET WATCH&quot;","block_context":{"text":"SPEED ROUND: CABINET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-cabinet-watch\/"},"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\/602002","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=602002"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/602002\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/601990"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/602003"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=602002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=602002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=602002"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=602002"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=602002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}