Minister of Finance, Mohamed Maait, said during a meeting with Prime Minister, Mostafa Madbouly, to follow up on the recent developments of the export burden rebate program.
The number of companies applying to benefit from the export burden rebate program in the seventh phase has reached 1,100 companies, including 100 companies applying for the first time.
Minister of Finance, Mohamed Maait, said during a meeting with Prime Minister, Mostafa Madbouly, to follow up on the recent developments of the export burden rebate program.
The purpose of this program is to enhance the volume of exports, production levels, and employment opportunities. This program also is designed to blooster Egypt's foreign currency earnings.
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 explained that the program contributes to providing accurate data to the administration and decision makers in developing, and implementing export plans and policies.
Baraka further highlighted that the program operates through a comprehensive system involving various entities such as the Export Development Fund, Tax Authority, Real Estate Registration and Documentation Authority, Commercial Registry, Industrial Development Authority, and Export Control Authority.
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.
The first phase of registering companies in the export burden rebate program will be launched next April, she added.
