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"Export Engineering": the inclusion of new products in the sector within the export support program

Engineer Sherif El-Sayyad, head of the Export Council for Engineering Industries, announced the inclusion of new products for the export support program, including smart cards, industries feeding electrical, electronic and household appliances, food processing and packaging machine lines, agricultural machines, razors, molds.

"Al-Sayyad" praised the new program to support exports, which is one of the mechanisms for increasing national exports to 100 billion dollars in the coming years, according to the directives of President Abdel Fattah El-Sisi, as well as according to the clear government vision led by Nevin Gamea, Minister of Industry and Trade, which seeks to remove obstacles facing exports. .

The Chairman of the Council explained that the provision of financial liquidity to exporters during the recent period through the initiative for the immediate payment of arrears "the 85% initiative" is part of dealing with the problems of the export file, pointing to the opening of direct channels of communication between the Export Council and the Ministry of Industry and Trade in order to deal immediately with any obstacles or Proposals to raise the level of exports.

Export subsidy program details

Nevin Jameh, Minister of Trade and Industry, confirmed that the approval of the new program to repay the burdens of exports represents an important step towards implementing the ministry’s plan and strategy to double exports and bring them to $100 billion annually, especially in light of the unprecedented interest of the political leadership and the government in the file of export development to foreign markets as one of the The main tributaries of providing foreign exchange in the Egyptian economy.

The minister said, in previous statements, that the new program was prepared in coordination and cooperation with the industrial sector, export councils and all relevant ministries and government agencies, with the aim of reaching full consensus from all parties, in a way that ensures the achievement of the program's objectives, which include achieving a qualitative leap in export rates during the next stage.

Jameh added that the new program will be implemented from the beginning of July 2021 for a period of 3 years, noting that the program aims to raise employment rates in various industries to absorb the additional energies, as a result of the suspension of some economic activities, and to achieve a qualitative leap in local and foreign investments in various industries. In a way that accommodates the economic changes resulting from the global outbreak of the Corona epidemic, in addition to deepening the industry and raising quality levels.

She stated that the program includes, for the first time, the introduction of new industries to the list of sectors benefiting from export support, as the Board of Directors of the Export Development Fund approved a sectoral program to support exports of passenger cars and commercial vehicles for a period of 7 years, as well as approval of a program to support ceramic exports, in addition to the inclusion of a new group of Items of importance to the support program include medicines, industries feeding electronic and electrical devices, production lines, molds, and some items in the chemical sectors.

The minister pointed out that the new program for reimbursing the burdens of exports includes 8 axes, the first of which is to deepen the industry through the application of the value-added criterion, so that the value of support for the exporter is determined according to the added value of exports, provided that the minimum value-added is 30%, with the exception of programs for agricultural crops, textile industries and handicrafts From this base, the second axis includes the development of Upper Egypt, the border areas, the city of Al-Rubiki and the city of Damietta for furniture, where the exports of the producing companies in these areas are granted an additional 50% of the basic support percentage.