ITIDA: Export support to be given to companies in April instead of June

CAIRO - 2 April 2020: The Information Technology Industry Development Agency (ITIDA) said on Thursday that it will pay export support dues to companies operating in the information technology and communications in April instead of June as scheduled in a bid to ease the economic repercussions of the spread of coronavirus.

The move come as part of the Export-IT Rebate program aiming at promoting ICT exports and supporting exporters to increase their competitiveness to penetrate key markets.

In a statement, the ITIDA said top priority is given to mini and small sized companies, which totals 69, then medium and large sized companies.

Around 110 companies are to benefit from this measure, the statement said.

Under the program, eligible companies will receive direct exports support on the collected proceeds of their value-added exports within 2018.

To apply for the program, companies should be headquartered in Egypt and should be operating in the communications and information technology domains.