Egypt offers tariff reductions to boost local industry

SourceZawya
SectorIndustrial
CountryEgypt

Egypt offers tariff reductions to boost local industry Local factories will be offered tariff reductions if the local content represented at least 10% of the final product instead of a previous 30%    Cairo – Mubasher: The Egyptian Minister of Finance, Mohamed Maait, said that the new amendments to customs tariffs on some items are aimed at encouraging the national industry.The new legislation will reduce customs tariffs on components imported for locally-manufactured furniture, petrochemicals, and electrical appliances such as fridges and televisions, as well as public transport cars by more than 50%, Maait added in a statement on Sunday.Local factories will be offered tariff reductions if the local content represented at least 10% of the final product instead of a previous 30%, he revealed.Source: MubasherAll Rights Reserved - Mubasher Info ...read more...