Finance Ministry receives US$850 million from Egyptian expat car initiative: Minister

Minister of Emigration and Expatriate Affairs Soha al-Gendy revealed on Monday the latest developments in the car initiative for Egyptian expats, stating that up to US$850 million reached the Finance Ministry due to the initiative.

During a phone call with al-Hadath al-Youm TV channel on Monday, Gendy said: “Egyptians abroad are willing to participate in the initiative, and the number of import approvals for cars has reached about $1.7 billion, and half of this amount has reached the Ministry of Finance.”

“Over 400,000 citizens have registered on the initiative’s application, and the number of cars that have been reserved and procedures for their disembarkation have begun is about 240,000 cars,” she added.

“The number of cars that came to Egypt and the customs procedures were completed for it is about 20,000 cars, and the procedures for the rest of the cars are being finalized.”

“We are trying to overcome any obstacles or challenges facing Egyptians abroad participating in this initiative,” she concluded.