Egypt allocates 58.3 mln USD for industrial complexes

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Egypt allocates 58.3 mln USD for industrial complexes

STORY: Egypt allocates 58.3 mln USD for industrial complexes DATELINE: July 13, 2022 LENGTH: 00:00:46 LOCATION: Cairo CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of the Finance Ministry in Cairo 2. various of Egypt's Finance Minister Mohamed Maait in a press conference STORYLINE: Egypt's Finance Minister Mohamed Maait said on Tuesday the government has assigned 1.1 billion Egyptian pounds (about 58.3 million U.S. dollars) in the new budget to resume establishing utilities for 13 industrial complexes in several governorates to provide the small and medium-sized enterprises (SMEs) with a stimulating infrastructure. Maait said the move would also help create more job opportunities. Maait also announced that the country's House of Representatives approved a new law to reduce up to 65 percent of fines and delay interest charged on taxes, customs, and real estate taxes not paid by the original due date. However, this reduction will be provided on the condition that the original taxes are paid before the en

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