Minister of Commerce and Industry: Approval of the controls for implementing the sixth phase of the immediate payment initiative… and the continuation of the external exhibition support program and the air freight support program

Fathi Al-Sayeh

Eng. Ahmed Samir, Minister of Trade and Industry, announced that the Board of Directors of the Export Development Fund agreed to continue implementing the export burden refund program in the period from 1/7/2022 until 30/6/ 2023 with the same rules applied during the fiscal year 2020/2021 Based on the directives of the Council of Ministers in this regard, in the presence of Mr. / Mr. Al-Qaseer, Minister of Agriculture and Land Reclamation, Mr. / Tariq Tawfiq, Undersecretary of the Federation of Industries, and Mr. / Ahmed Fikry Abd El-Wahhab is a member of the Board of Directors of the Federation of Industries, Mr. / Hani Berzi, Chairman of the Export Council for Food Industries, Mr. / Ahmed Kojak, Deputy Minister of Finance for Institutional Development, Dr. / Amani Al-Wasal, Head of the Executive Body of the Export Development Fund, and Dr. / Shereen El Sharkawy, First Assistant Minister of Finance

It was also agreed during the meeting on the controls for implementing the sixth phase of the immediate payment initiative, as it was agreed to include the sixth phase of the immediate payment initiative for shipments until 0067/0067/2020 with the same rules and regulations applied in 2022/900, for files received in the box up to 31/3/2023 Where the Fund will disburse these files in the first phase in July 2023, and for companies that completed their files after the date of submission 0067/3/ 2023 until 12/5/2023 The Fund will disburse these files in August 2023, in addition to not implementing any discount rates for shipments from 1/7 / 2020 provided that the discount rates are implemented For shipments prior to 1/7/ 2020 according to what was previously applied in the immediate payment stage in its previous stages, 2023

The minister said that the fund’s board of directors had approved the continuation of the program to support foreign exhibitions in accordance with what is currently applied, with raising the budget allocated to the program to 598 million pounds, as well as approval of the air freight support program with a budget of

million pounds, in addition to agreeing that the fund would consider the certificate of the local component issued by the Public Authority for Industrial Development for a period of two years instead of one year. 2023

And Samir indicated that it was agreed to form a committee headed by the legal advisor to the minister and the Export Development Fund to discuss the possibility of working on gradation in penalties for violations and to study the possibility of reconciliation in violations committed by companies during their dealings with the fund – Where the proposal to authorize conciliation procedures in violations was approved, provided that the legal advisor to the minister prepares the rules for regulating this matter. 2023

The council also agreed with regard to the controls for implementing quality certificates submitted to the Export Development Fund, as well as approval of continuing to accept cash deposits from the countries of Lebanon and Nigeria, and it was also agreed that a final commercial invoice approved by the chartered accountant should be attached to the documents in addition to the customs invoice attached to the files This is in the event that the invoice numbers contained in the bank documents do not match the customs invoice numbers submitted by the exporters for the different messages. 2023 (Samir noted that it was agreed to assign the export councils to provide detailed studies on the various export sectors in accordance with the ministry’s objectives, as TORs will be made for all the required studies before they are launched. 2023

The minister also indicated that the controls for implementing the axis of granting an additional percentage of support for exports bearing an Egyptian trademark were amended, as it was approved to register trademarks issued by importing countries, as the exporting company must document them from The Egyptian embassy abroad or from the Ministry of Foreign Affairs and the restriction of disbursement of 2% – the additional subsidy rate – for exports of finished products only, which own an Egyptian trademark. Likewise, the company that falls within the group of companies (holding companies) is treated in the same way as the company that owns the trademark, provided that documents evidencing this are submitted. 2023