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Monday, 14 January 2019

Gov’t settles customs payment dispute with Mercedes importer in Egypt

Gov’t settles EGP 700 mn customs dispute with Mercedes importer: The Madbouly Cabinet’s investment dispute resolution committee has settled a c. EGP 700 mn (USD 39.2 mn) dispute between the Customs Authority and an Egyptian importer of Mercedes-Benz cars, according to a Finance Ministry statement. The statement did not name the company or provide details of the dispute. The announcement comes just days after Mercedes production head Markus Schaefer told Prime Minister Moustafa Madbouly his company could resume assembly in Egypt “soon” after a years-long suspension.

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