The Ministry of Trade and Industry will add a new seasonal incentive to Egypt’s export rebate programme with exporters receiving an additional payment of 50% of the export rebate paid, if they manage to  achieve 25% Y-o-Y growth in revenue in 2016, according to Industry and Trade Minster Tarek Kabil. The added incentives will be offered to four sectors ; i) Chemical products, ii) Engineering products , iii) Ready Made Garments ( RMG), and iv) Textiles. The new incentive will be applicable  as of 1 April 2016 until March 2017 and companies will receive incentive payments ten days after submitting  the filing and bills proving 25% growth, which needs to be sent once every six months or at year end. The Export Rebate Fund has paid EGP2.3 billion between  1 July 2015 and 29 February 2016, which includes payments of  EGP780 million between 17 January and 29 February 2016, that fully settled any due payments by the government to exporters. The government passed a new decree in January 2016 cancelling the July 2014 export subsidy programme where companies will now return to receiving c6% its export bill in rebates. The new incentive scheme will facilitate growth in the four mentioned sectors to USD2.5 billion, the minster added. (Al Borsa)