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Egypt Minister of Foreign Trade & Industry urging banks to extend credits to manufacturers & importers of heavy duty trucks.

Sunday, October 23, 2005
Al Alam Al Yom
Country Wide
Egypt Minister of Foreign Trade & Industry urging banks to extend credits to manufacturers & importers of heavy duty trucks. During a meeting of the Minister with a number of investors in that industry, they claimed banks do not accept to finance their operations. They also claimed sharp increases in relevant sea freight costs. The Minister has indicated that duties on heavy-duty trucks were lately reduced to 5 % & that the Government has terminated the ban earlier imposed on second hand heavy duty trucks imports.

Beneficiary Sectors
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Automotive & Construction Equipment
      Pickups & Trucks