Arab Finance: Dr. Mostafa Madbouly, Prime Minister, followed the implementation Export burden rebate programmeIn a meeting held in the presence of Lieutenant General Engineer Kamel Al-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, and Ahmed Kjouk, Minister of Finance.
At the beginning of the meeting, the Prime Minister stressed the keenness to follow up on the implementation of the program for refunding export burdens, given its importance in strengthening the state’s plans to double export numbers in the targeted sectors, and generating real opportunities for exporters in regional and global markets.
Counselor Muhammad Al-Homsani, the official spokesman for the Presidency of the Council of Ministers, stated that the meeting witnessed a review of the rates of implementation of the export burden refund program from July 1, 2023 until February 29, 2024, as well as the procedures followed within the new program that began on March 1, 2024 and extends until June 30, 2025, in addition to On the procedures for paying exporters’ dues.
The official spokesman added that the most prominent determinants of implementing the program were discussed, including that support be directed more to products with the highest added value, specifying a share of the budget for each export sector, and emphasizing the necessity of gradually increasing the percentage of the local component for companies, and this being linked to the percentage of support that they receive. Annually, the minimum percentage of the local component of exports benefiting from the program was raised to 35% as of July 1, 2024, provided that the minimum will be gradually increased in the future.
Counselor Muhammad Al-Homsani pointed out that the position of mechanizing the export burden rebate program was also reviewed, and it was noted that the first phase of mechanizing the program was launched on August 15, 2024, and includes registering exporting companies and uploading requests for disbursing support electronically. It is also expected that new ratios and rules will be included. for the new program and its programming once approved.
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