Egypt exempts components of mobile devices from development fee

The Egyptian Cabinet, during its meeting on Wednesday headed by PM Mostafa Madbouly, approved a draft decision to amend some provisions of Law, imposing a fee for developing the state’s financial resources.

The amendment stipulated that parts and components necessary for the production of mobile phone devices and accessories that are imported by factories and companies for the purpose of manufacturing locally are exempted from the fee for developing the state’s financial resources. The product is also exempted from this fee, in case the final destination for these devices, their parts, and accessories are manufactured locally," according to a press release.

This step comes within the framework of the state's efforts to localize and deepen the mobile phone industry in Egypt, and to encourage international companies to invest in this sector, which contributes to providing various products to the local market, as well as creating opportunities for export.