{"id":664176,"date":"2025-04-23T00:00:00","date_gmt":"2025-04-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/23\/local-auto-assemblers-could-be-exempt-from-development-fees\/"},"modified":"2025-04-23T00:00:00","modified_gmt":"2025-04-23T00:00:00","slug":"local-auto-assemblers-could-be-exempt-from-development-fees","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/23\/local-auto-assemblers-could-be-exempt-from-development-fees\/","title":{"rendered":"Local auto assemblers could be exempt from development fees"},"content":{"rendered":"

Good afternoon, friends, and welcome to the end of a condensed workweek.<\/strong> Today\u2019s issue takes a look at the future of how manufacturing auto parts will be taxed, Trump\u2019s softening stances, and cashflow guidelines set by industry titan Warren Buffett.<\/p>\n

\n

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

Gov\u2019t mulls scrapping development fees on imported auto parts:<\/strong> The Finance Ministry is looking into exempting imported vehicle components used in local assembly from the 3% state development fee, and instead collecting the fees upon commercial sales and during the renewal of licenses, a government source told EnterpriseAM. The move would come as part of government efforts to localize the auto industry, the source said.<\/p>\n

T<\/strong>his isn\u2019t the first industry that the gov\u2019t exempts from the development fee:<\/strong> The Finance Ministry implemented a similar exemption from development fees for imported mobile phone components back in March 2023<\/a> \u2014 a step that has borne fruit over the years, with local manufacturers having doubled their combined output over the past three months to 110k phones<\/a>, a senior government source told EnterpriseAM recently.<\/p>\n

\n

THE BIG STORY ABROAD<\/p>\n

The foreign press is still honing in on Trump\u2019s softened tone on Powell: <\/strong>US President Donald Trump said<\/a> he has \u201cno intention of firing\u201d Federal Reserve Chair Jerome Powell after launching a pressure campaign<\/a> on Powell in recent days that rattled global markets. \u201cI would like to see him be a little more active in terms of his idea to lower interest rates,\u201d he told reporters in the Oval Office on Tuesday. The statement marks a stark shift in tone from Trump, who last week said<\/a> that \u201cPowell\u2019s termination cannot come fast enough\u201d and lambasted him repeatedly<\/a> in recent days for being \u201ctoo late\u201d in cutting interest rates.<\/p>\n

Trump also dialed back the hardline rhetoric on China<\/strong>, saying<\/a> he will be \u201cvery nice\u201d in any trade talks with the country and that tariffs could be lowered if an agreement is reached. \u201cWe\u2019re going to be very nice and they\u2019re going to be very nice, and we\u2019ll see what happens,\u201d Trump said on Tuesday in Washington, adding that tariffs \u201cwill come down substantially but it won\u2019t be zero.\u201d<\/p>\n

Markets welcomed the shift:<\/strong> Futures tracking the S&P 500 climbed<\/a> 2.5% on Wednesday, the USD index gained 0.3%, and US government bonds rebounded. Meanwhile, Chinese stocks listed in Hong Kong closed 2.1% up on Tuesday, boosted by hopes that tensions with the US might ease.<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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\u2600\ufe0f <\/strong>TOMORROW\u2019S WEATHER- <\/strong>Tomorrow\u2019s weather continues the downturn after yesterday\u2019s sudden spike, with the mercury projected to peak at 28\u00b0C throughout the day and dip to 17\u00b0C later at night, according to our favorite weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good afternoon, friends, and welcome to the end of a condensed workweek. Today\u2019s issue takes a look at the future of how manufacturing auto parts will be taxed, Trump\u2019s softening stances, and cashflow guidelines set by industry titan Warren Buffett. THE BIG STORY TODAY- Gov\u2019t mulls scrapping development fees on imported auto parts: The Finance […]<\/p>\n","protected":false},"author":1,"featured_media":664177,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7213],"tags":[633,276,131,69,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-664176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-finance-ministry","tag-manufacturing","tag-tax","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"dd0d4b24-e5bc-4178-8686-c0475ae9a437","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/1\/761.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[664174],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.6451cdef-da9e-4dd4-9ed0-93413780cc15.mp3"},"yoast_head":"\nLocal auto assemblers could be exempt from development fees - 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\/2025\/04\/23\/local-auto-assemblers-could-be-exempt-from-development-fees\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Local auto assemblers could be exempt from development fees\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends, and welcome to the end of a condensed workweek. Today\u2019s issue takes a look at the future of how manufacturing auto parts will be taxed, Trump\u2019s softening stances, and cashflow guidelines set by industry titan Warren Buffett. 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The Finance Ministry is considering cutting a 5% development fee on imported mobile phone parts as the Madbouly government pushes to localize electronicsassembly, a source at the ministry tells Enterprise.The problem? The taxman rings twice (or more) on locally assembled phones. Fully\u2026","rel":"","context":"In "Taxation"","block_context":{"text":"Taxation","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/taxation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/411.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569660,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/03\/govt-considering-full-customs-exemption-on-imports-of-auto-components\/","url_meta":{"origin":664176,"position":2},"title":"Gov\u2019t considering full customs exemption on imports of auto components","author":"enterpriseam admin","date":"3 March 2020","format":false,"excerpt":"The government is considering a full customs exemption on imports of auto components: The Trade Ministry could grant a full customs exemption on imports of auto components as part of its strategy to incentivize local manufacturers, the local press reports, citing unnamed government sources. Nissan and Toyota requested earlier this\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\/2020\/3\/41.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572893,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/13\/finmin-exempts-imported-steel-products-from-10-development-fee\/","url_meta":{"origin":664176,"position":3},"title":"FinMin exempts imported steel products from 10% development fee","author":"enterpriseam admin","date":"13 July 2020","format":false,"excerpt":"FinMin exempts imported steel products from new development fees: Imported finished steel products will be exempted from newly-imposed development fee after the Finance Ministry yesterday approved a request from the Federation of Egyptian Industries\u2019 (FEI) taxes and customs committee, Al Masry Al Youm reports. The FEI had been lobbying against\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":664890,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/08\/the-automotive-industry-development-program-is-getting-a-facelift\/","url_meta":{"origin":664176,"position":4},"title":"The Automotive Industry Development Program is getting a facelift","author":"enterpriseam admin","date":"8 May 2025","format":false,"excerpt":"The move comes as part of the government's efforts to localize the auto industry","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/590.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":664856,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/07\/incentive-package-to-localize-auto-industry-finalized\/","url_meta":{"origin":664176,"position":5},"title":"Incentive package to localize auto industry finalized","author":"enterpriseam admin","date":"7 May 2025","format":false,"excerpt":"Good afternoon, wonderful people. It seems that yesterday's slow news cycle was the calm before the storm. Today\u2019s issue is packed with details of governmental incentives to localize the automotive industry, coverage of President Abdel Fattah El Sisi\u2019s visit to Athens, the rising tensions between India and Pakistan, and the\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664176","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=664176"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664176\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/664174"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/664177"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=664176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=664176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=664176"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=664176"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=664176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}