Egyptian President Abdel Fattah al-Sisi signed a decree on the provision of certain benefits to Egyptians living abroad.
These benefits include that an Egyptian with a valid residence permit abroad is entitled to import one private passenger car for personal use, exempt from taxes and duties, in exchange for paying a sum of money in foreign currency, which is non-refundable, at a rate of 100% of the value of all taxes and fees that he had to pay for the release of the car, and this amount is refunded after five years from the date of payment with the same value in local foreign currency paid in it and in the exchange rate, declared by the Central Bank at the time of redemption.
The President of Egypt signed a decree on the establishment of the Supreme Council of the Automotive Industry and a fund for financing an environmentally friendly auto industry.
The Council is chaired by the Prime Minister and is composed of the Minister of Industry as Vice President of the Council, the Ministers responsible for Planning, Transportation and Finance, the Minister of State for War Production and four experts. appointed by the Minister of Industry for a term of 4 years, renewable once.
The council aims to develop and develop the automotive sector in Egypt.
A fund has been established to finance the green car industry, that is, vehicles that do not produce emissions and have no negative impact on the environment. The fund aims to develop the necessary resources to finance the green car industry.
