{"id":612831,"date":"2024-01-02T00:00:00","date_gmt":"2024-01-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/this-evening-house-of-representatives-greenlights-green-hydrogen-incentives\/"},"modified":"2024-01-02T00:00:00","modified_gmt":"2024-01-02T00:00:00","slug":"this-evening-house-of-representatives-greenlights-green-hydrogen-incentives","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/02\/this-evening-house-of-representatives-greenlights-green-hydrogen-incentives\/","title":{"rendered":"THIS EVENING: House of Representatives greenlights green hydrogen incentives"},"content":{"rendered":"

Good afternoon, ladies and gentlemen, and a very happy new year to you. <\/strong>We are starting the first week of the year at a relatively brisk pace as the news cycle is picking itself up from the slump at the end of December.<\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

House gives final approval for green hydrogen incentives:<\/strong> The House of Representatives has given<\/a> its final approval for a cabinet-drafted decision that puts forward a package of incentives for Egypt\u2019s green hydrogen industry. This would grant a series of tax-breaks as well as non-tax incentives to companies implementing green hydrogen projects within five years and deriving a certain percentage of their funding from foreign investors. The incentives were originally greenlit by the cabinet in May<\/a>, and were later approved by the House Energy and Environment Committee last month<\/a>.<\/p>\n

Which incentives exactly? <\/strong>Companies operating in the sector will be eligible to receive tax breaks of between 33-50% on income earned from the plants, and will be exempted from real estate taxes, stamp taxes, and VAT on raw materials and machinery purchased for the projects, as well as customs on materials imported for the project. Projects will also receive a number of non-tax incentives that include licensing facilities, extended grace periods on payments, and will be able to import and export without being on either of the registers. Eligible companies will also receive a 25% markdown on usufruct fees collected on plots housing green hydrogen factories and a 20% markdown on fees on plots housing green hydrogen storage units, as well as a 30% reduction on port charges. <\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

The collision of two planes in Tokyo Airport has been dominating the international <\/strong>press. <\/strong>The 379 passengers and crew of the Japan Airlines flight managed to escape the fire that followed their collision with a coast guard aircraft in Haneda airport. However, the coast guard flight passengers were not as fortunate, as most of them died as the plane was headed to Niigata airport to deliver aid to people suffering from the earthquake that struck the island nation on New Year\u2019s Day. (Reuters<\/a> | Bloomberg<\/a> | CNBC<\/a> | New York Times<\/a> | The Washington Post<\/a>)<\/p>\n

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COME WORK FOR OUR ADVISORY ARM- <\/strong>Enterprise Advisory (formerly known as Inktank Communications) is looking for smart, talented people to help us tell the stories of exciting companies. Enterprise Advisory is the region\u2019s leading investor relations advisory company and works on investor and strategic communications issues that take you deep inside the c-suite. Our clients are in Egypt, Saudi Arabia, the UAE, and beyond. Egyptian and foreign nationals alike are welcome to apply, but native-level verbal and written English fluency is a must.<\/p>\n

WHO YOU ARE-<\/strong> We're looking for gifted storytellers with a minimum of four years of work experience in investor relations, finance, banking, economics, or a related field to develop cutting-edge products and maintain relationships with a portfolio of clients. Candidates should have a bachelor's degree or higher in finance, accounting, economics, business administration, or a related discipline. We're looking for someone whose passion for storytelling is matched with strong analytical and problem-solving skills, as well as the ability to interpret and present financial data \u2014 with a keen eye for details and accuracy. <\/p>\n

INTERESTED IN APPLYING?<\/strong> To apply for the position, drop us a line at jobs@enterprisemea.com and mention \u201cEnterprise Advisory\u201d in your subject line. Please send a solid cover letter telling us a bit about who you are and why you\u2019re a good fit for our team. We want to see your CV, but the most important thing is a cover letter that makes us want to pick up the phone and give you a call.<\/p>\n

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