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Egypt to settle EGP 1.5bn in arrears to 1,177 companies
Published in Amwal Al Ghad on 16 - 04 - 2020

Egyptian Ministry of industry and trade to settle 1.5 billion Egyptian pounds to 1,177 export companies according to Niveen Gamea.
The payments will come from the Export Development Fund, to support the exporters during the coronavirus (COVID-19) pandemic.
In a seminar run by the Engineering Export Council of Egypt, entitled "Crisis Management, Challenges and Opportunities", Gamea said the ministry is looking to ensure continuity of production and export processes.
At the same time, the ministry is also looking to maintain the safety of workers in factories and companies, whilst following the state's preventative measures put in place due to the ongoing pandemic.
Gamea added that the government is closely monitoring developments, and is currently working to support and provide incentives for local industries, reduce imports, and remove tariffs.
She pointed out that some exporters have successfully opened up new markets in countries that do not have local production, or whose production has been interrupted due to the coronavirus.
Gamea highlighted the government's eagerness to provide medical supplies to workers, whilst enhancing communications with the business community should any positive coronavirus cases be detected


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