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Thursday, 1 October 2020

Tourism support, flight incentives programs extended until the end of the year

CABINET WATCH- Tourism support, flight incentives programs extended until the end of the year: The debt, utilities and real estate tax payment holiday introduced in April to support companies reliant on tourism through the covid-19 pandemic has been extended until the end of the year, cabinet said yesterday following its weekly meeting. The charter flight incentives program, which was previously extended from the end of April to 28 October, will also run through to the end of 2020. The cabinet also decided to extend the visa-exemption period for tourists arriving to South Sinai, Luxor, Aswan and the Red Sea governorates until 30 April 2021. Ministers also approved the extension of stipends from the Manpower Ministry’s emergency fund, which will continue to be paid out till December 2020.

Also approved during the meeting:

  • The Industrial Development Authority will have new powers to issue licenses and allocate land to heavy industry;
  • Setting up a private freezone for textile manufacturer Tianpei Egypt in the Tenth of Ramadan City industrial zone;
  • Amending a financing agreement between Egypt and the Saudi Fund for Development for a branch of the Salman bin Abdulaziz University in South Sinai to increase the loan amount to EGP 465.8 mn;
  • Approving the offering of six new specializations at the bachelor’s level to be offered by Coventry University’s planned branch in Egypt.

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