CAIRO - 27 March 2024: In a recent update on the export burden rebate program, Minister of Finance, Mohamed Maait, shared that a total of 1,100 companies have applied to participate in the seventh phase of the program, including 100 companies applying for the first time.
The primary objective of this program is to stimulate the growth of Egypt's exports, boost production levels, and generate more employment opportunities.
It also aims to bolster Egypt's foreign exchange earnings, contributing to the country's economic prosperity.
This information was discussed during a meeting between the Minister of Finance and Prime Minister, Mostafa Madbouly, in order to review the program's progress.
During the meeting, Hoda Baraka, Advisor to the Minister of Communications and Information Technology, presented the executive position of burden rebate program and digital system.
She highlighted the program's role in providing accurate data to support the formulation and implementation of export plans and policies by the administration and decision-makers.
Baraka further explained that the program operates through a comprehensive system involving various entities, including the Export Development Fund, Tax Authority, Real Estate Registration and Documentation Authority, Commercial Registry, Industrial Development Authority, and Export Control Authority. Additionally.
Furthermore, ongoing efforts are being made to establish connections with the Customs Authority and Insurance Authority. In the near future, the linking process will extend to encompass Egyptian banks as well.
Baraka also mentioned that the registration of companies for the export burden rebate program's first phase is scheduled to commence in April.
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