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Monday, 14 August 2017

Automotive directive could be final by November -House Industry Committee Chair

Could the automotive directive come to pass by November? The automotive directive could be issued by November, House Industry Committee Chair Ahmed Samir tells Al Borsa. The committee aims to pass the bill — which will offer incentives to encourage local assemblers to move further up the value chain into manufacturing — during its upcoming legislative session, after having held more than a dozen meetings with auto industry players recently to discuss and resolve their issues with the directive. The Trade and Industry had also said in July that it would be hiring a German consultant to assist with the drafting of the directive, which has been in a deadlock for several months now due to opposition from car importers and the EU.

Also on the committee’s agenda for the fall is legislation to encourage local manufacturing by promoting both vertical and horizontal integration across different industries, Samir tells the newspaper. The bill will aim to find ways reduce manufacturers’ reliance on FX and imported inputs and, in the long run, is expected to help regulate market prices. The act for mineral resources is also on the fall roster.

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