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Sunday, 6 November 2022

Dual-fuel car swap scheme expands + Investment Act amendments enter the House

Gov’t dual-fuel car swap scheme rolled out to another five governorates: People in Ismailia, Sharqiya, Beheira, Beni Suef and Sohag are now able to apply to the government scheme to swap their vehicles with a dual-fuel car, the Finance Ministry said Saturday.

AND- Cabinet has sent amendments to the 2017 Investment Law to the House of Representatives that would extend until 2029 tax breaks for manufacturers that are set to expire in 2023. (Youm7)

Other things we’re keeping an eye on this morning:

  • Beltone SME is in talks with eight unidentified banks about contributing to its EGP 1 bn investment fund, which the firm expects to launch in 1Q 2023. The fund was initially set to launch last year. (Al Mal)
  • A delegation from the World Health Organization is set to inspect Vacsera’s covid jab production lines ahead of granting it an emergency use license to export the vaccines. (Statement)
  • Contractors will break ground on the USD 1.8 bn Egypt-Saudi electricity interconnection project on 1 December. (Youm7)

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