$2bn expected returns of ‘importation of cars for Egyptians abroad’ initiative

CAIRO – Egypt’s Finance Minister Mohammed Maiet said the expected returns of registered applications submitted by Egyptian expats to benefit from the initiative to “facilitate the import of car for Egyptians abroad” hit some $2 billion.

In a statement, the minister said the rates of final release of imported cars to Egyptians abroad are increasing and have reached 35,000 cars received by beneficiaries.

The minister added that 250,000 import approvals have been issued so far and the state is working to speed up procedures as much as possible.