Egypt’s Zero-Customs Car Import Initiative Attracts Billions from Expats ...Egypt

Egypt’s Minister of Emigration and Expatriates Affairs Soha Gendy announced that payment orders totaling USD 1.97 billion (EGP 94 billion) have been issued for beneficiaries of the zero-customs car import initiative on Saturday 4 May.  As of now, approximately USD 799 million (EGP 38 billion) has been transferred into Egypt, Gendy confirmed. Since its launch in October 2022, payment orders have been issued for 602,277 cars, with 29,475 vehicles already released from customs.  Although the two-phase scheme officially concluded on April 30, the government has granted a 30-day grace period for individuals who faced difficulties in transferring the required deposit after registering. The initiat

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