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Will the ceramic industry join the new export support program?

After the Ministry of Industry announced earlier, that there is an intention to include the ceramic and cement industry within the export subsidy programs, a program that has not yet emerged, and some may ask whether the subsidy program includes clear texts for the ceramic industry, to be added to the burden-back program.

Businessman Yasser Farouk Mostafa, one of the ceramic producers, stressed the need to place the ceramic industry sector within the export support program to be announced soon, indicating that the ceramic industry sector could be the black horse to lead Egyptian exports to an increase in the coming years.

Yasser Farouk told Al-Youm Al-Sabea that the percentage of the local component in the ceramics industry is between 85 to 90%, which makes it a pure national industry, which must be supported and supported during the coming period, because the export subsidy program can be one of the factors supporting this. Sector.

He explained that the immediate payment initiative (85%) to pay back the dues of exporting companies to the Export Development Fund came on time, and helps a large sector of exporters to meet the needs and expenses of operating and production.

It is noteworthy that the initiative for the immediate payment of the dues of exporters, 1580 exporting companies submitted to join this initiative, and the tax and customs status of all these companies was completed, and the Ministry of Finance sent the position of these companies to the Export Development Fund, which issued certificates to 1126 exporting companies from The advanced companies, 1069 companies went to 4 banks participating in the initiative, namely: National Bank, Export Development, Egypt and Cairo, and spent an amount of about 12.2 billion pounds before cutting, and a total amount of 10.3 billion pounds after cutting 15% of the rate of expediting payment.

This new initiative to support exports comes in light of the state's constant endeavor to stimulate the investment climate, encourage industry and increase exports through specific mechanisms to settle the arrears owed to exporters by the Export Development Fund.

The proposal of the Ministers of Finance, Trade and Industry was approved to open the door for a number of companies to benefit from this initiative, within the framework of the previously specified amount.

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