The program will schedule all arrears owed up to March 1st, 2024 through the Ministry of Finance, while providing an option to settle state-related dues, as highlighted by El Khatib.
Minister of Investment and Foreign Trade, Hassan El Khatib, has introduced a new export burden refund program, according to an the Ministry of Investment and Foreign Trade statement.
The program will schedule all arrears owed up to March 1st, 2024 through the Ministry of Finance, while providing an option to settle state-related dues, as highlighted by El Khatib.
The initiative will focus on high-value-added products and include both monetary and non-monetary incentives, such as land allocations, workforce training, tax exemptions, and participation in international exhibitions.
El Khatib further stated that export-related dues with the necessary documentation will be paid within three months of submission.
Additionally, the program allocates a specific budget share for each export sector and emphasizes the importance of increasing the percentage of local components used by companies.
The new program also aims to maximize the benefits of the recently launched digital platform for refunding export burdens by reducing document review times, speeding up payments, and enhancing efficiency.
