ANNOUNCEMENT 01 Nov 2010

In November 2010, the government of Egypt announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



American Chamber of Commerce, 'Egypt Watch Bulletin, November 1.' http://www.amcham.org.eg/resources_publications/publications/watch_bulletin/default_articles.asp?MC=11110&MyP=1


Inception date: 01 Nov 2010 | Removal date: open ended
Still in force

Financial grant

Government is to disburse LE280 million to support 120 local spinning and weaving factories. The funds are to support local producers due to inadequate supply of yarn and the increase in global prices.
 
Also, textiles are exempt from customs duties until 31 March 2011 while subsidies to textile exporters using local raw materials will be increased by 50%.
 
 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A
Inception date: 01 Nov 2010 | Removal date: open ended
Still in force

Localisation incentive

Government is to disburse LE280 million to support 120 local spinning and weaving factories. The funds are to support local producers due to inadequate supply of yarn and the increase in global prices.
 
Also, textiles are exempt from customs duties until 31 March 2011 while subsidies to textile exporters using local raw materials will be increased by 50%.
 
 

 
N/A
 
N/A