{"id":649519,"date":"2017-03-02T04:12:40","date_gmt":"2017-03-02T04:12:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/02\/house-industrial-committee-to-complete-its-review-of-the-automotive-directive-by-mid-march\/"},"modified":"2017-03-02T04:12:40","modified_gmt":"2017-03-02T04:12:40","slug":"house-industrial-committee-to-complete-its-review-of-the-automotive-directive-by-mid-march","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/02\/house-industrial-committee-to-complete-its-review-of-the-automotive-directive-by-mid-march\/","title":{"rendered":"House Industrial Committee to complete its review of the automotive directive by mid-March"},"content":{"rendered":"

<\/a> The House Industry Committee is set to complete its review of the automotive directive <\/strong>and send the bill back to a plenary session of the House of Representatives by mid-March, Al Borsa<\/a> reports. The committee held discussions with auto industry players this week, with importers continuing to object to the structure of the minimum export quotas necessary to benefit from tax incentives. Under the bill, a car company\u2019s exports must at least equal 25% of the value of their imports to benefit from the incentives. Importers are looking to see that quota reduced to 5-10%. (Under the proposed legislation, car importers \u2014 as distinct from assemblers \u2014 would have the right to import a quota of fully assembled vehicles under the same preferential tax structure that domestic manufacturers would enjoy only if their exports of automotive components meet a minimum threshold.) The bill, which would provide manufacturing and export incentives along the value chain to promote the development of a domestic auto industry, but has been delayed by a lobbying war pitting auto assemblers and auto importers against each other. We\u2019ll have more on the automotive directive next week.<\/p>\n

Meanwhile, Finance Minister Amr El Garhy and CBE Governor Tarek Amer will appear <\/strong>before the House Economics Committee<\/strong> on Monday and Tuesday of next week to discuss clauses in the new Investment Act about investment incentives, private free trade zones, and profit repatriation for foreign companies, Al Borsa reports<\/a>. The committee hopes to understand more about the guidelines regulating the special incentives given to foreign investors and lobby for the return of FZs. The bill is expected to come to a vote by the end of March.<\/p>\n

Several members of the Economics Committee are boycotting discussion of <\/strong>the Investment Act<\/strong> in continued protest of the selection of Support Egypt coalition head Amr Ghallab as the new chair of the committee, Al Mal<\/a> reports. Ghallab replaced Ali El Moselhy, who was tapped to become supply minister. The MPs are claiming that pro-government Support Egypt stacked the deck against them in the committee election. House speaker Ali Abdel Aal has intervened to no avail.<\/p>\n","protected":false},"excerpt":{"rendered":"

The House Industry Committee is set to complete its review of the automotive directive and send the bill back to a plenary session of the House of Representatives by mid-March, Al Borsa reports. The committee held discussions with auto industry players this week, with importers continuing to object to the structure of the minimum export […]<\/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],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-649519","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"d57f2a7b-093c-498d-be43-a6dcf8e2695f","order":"0","is_powered_by":true,"section_story_id":"4e7b4344-d756-44ce-a21a-6e082bd6dfbb","story_type":"1","photo_url":"","photo_position":"above","related_issue":[649512],"teaser":"","voice_url":""},"yoast_head":"\nHouse Industrial Committee to complete its review of the automotive directive by mid-March - 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\/2017\/03\/02\/house-industrial-committee-to-complete-its-review-of-the-automotive-directive-by-mid-march\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House Industrial Committee to complete its review of the automotive directive by mid-March\" \/>\n<meta property=\"og:description\" content=\"The House Industry Committee is set to complete its review of the automotive directive and send the bill back to a plenary session of the House of Representatives by mid-March, Al Borsa reports. 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The idea of a sliding tax that varies with engine size is now being discussed by a ministerial committee tasked\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\/2019\/6\/1903.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":651739,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/house-to-conclude-automotive-directive-discussions-next-week\/","url_meta":{"origin":649519,"position":1},"title":"House to conclude Automotive Directive Discussions next week","author":"enterpriseam admin","date":"20 February 2017","format":false,"excerpt":"And that\u2019s not all, as it seems there is light at the end of the tunnel that is the House for the automotive directive. The House of Representatives\u2019 Industry Committee will set a date to vote on the Automotive Directive in the general assembly once the legislation is final. When\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":647479,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/11\/trade-ministry-to-amend-automotive-directive\/","url_meta":{"origin":649519,"position":2},"title":"Trade Ministry to amend automotive directive","author":"enterpriseam admin","date":"11 May 2017","format":false,"excerpt":"Trade Ministry to amend the proposed automotive directive? The Trade and Industry Ministry is reportedly looking to revisit unspecified sections of the so-called \u201cautomotive directive\u201d before sending it back to the House of Representatives for review and a final vote, Al Mal said on Wednesday. The news comes a little\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":653001,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/24\/house-of-representatives-has-resumed-discussions-on-the-automotive-directive\/","url_meta":{"origin":649519,"position":3},"title":"House of Representatives has resumed discussions on the automotive directive","author":"enterpriseam admin","date":"24 January 2017","format":false,"excerpt":"The House of Representatives' Industry Committee has resumed discussions on the automotive directive after announcing earlier this month it decided to postpone its review of the directive \u201cpending further studies,\u201d according to Al Shorouk. The directive \u2014 which would give incentives to local assemblers to go further up the value\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":646318,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/12\/trade-and-industry-ministry-form-committee-to-resolve-issues-with-the-automotive-directive\/","url_meta":{"origin":649519,"position":4},"title":"Trade and Industry Ministry form committee to resolve issues with the automotive directive","author":"enterpriseam admin","date":"12 June 2017","format":false,"excerpt":"Trade and Industry Ministry forms committee to break deadlock over automotivedirective: The Trade and Industry Ministry is forming a committee of Federation of Egyptian Industries and Industrial Development Authority (IDA) officials to look into resolving the deadlock on the automotive directive, Al Borsa reported last Thursday. The move is 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":652080,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/28\/european-car-makers-are-not-happy-with-the-automotive-directive\/","url_meta":{"origin":649519,"position":5},"title":"European car makers are not happy with the automotive directive","author":"enterpriseam admin","date":"28 February 2017","format":false,"excerpt":"Shockingly, European car makers and local importers of their wares are not in love with the so-called \u201cautomotive directive,\u201d which would give tax breaks to local manufacturers and protect them against unfair advantages now enjoyed by EU, Turkish and Moroccan imports. The automotive directive will not only harm European exports\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/649519","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=649519"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/649519\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/649512"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=649519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=649519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=649519"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=649519"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=649519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}