New measures are adopted to offer citizens more chances to replace their old vehicles with new ones...

 

• Registration of "car replacement applications" is allowed provided that old cars' licenses are issued earlier than 2 years ago.
• Replacement Applicants can electronically change their data, type or colour of vehicles.
• A study is underway to integrate vehicles at Port Said Free Zone in the presidential vehicle replacement initiative.
• Governorates not included in the initiative shall be consequently integrated upon completion of their infrastructure and technological bases.
• Any new company may join the Initiative on condition of having 45% local components in its manufactured vehicles.

 

Finance Minister, Dr. Mohamed Maait, stated that President Abdul Fattah Al-Sisi issued a mandate to expand the base of beneficiaries of the 'old car replacement initiative' as related to "taxi and personal vehicles".  Under the Initiative, citizens can swap their old cars with new duel-fuel engine cars "benzene and natural gas". 

 

This measure comes within the framework of the State's strategy to expand activities in clean energy and green economy, to promote local products, as well as to localize car manufacturing industry and its related feeding industries. It also contributes to providing more job opportunities, alleviating citizens' burdens and facilitating car replacement measures by help of attractive credit facilities.

 

EGP 2.1 billion from the new fiscal year budget are allocated to finance the green incentive of the first phase of the presidential initiative, said Dr. Maait, pointing out that the same targets replacing 250 thousand old vehicles in Cairo, Giza, Qalyoubia, Alexandria, Suez, Port Said and Red Sea governorates.

 

In the same context, Dr. Maait detailed the new procedures adopted to increase beneficiaries of the initiative. These measures include:  studying the possibility of expanding the scope of the Initiative to include vehicles at Port Said Free Zone given its special nature; besides, allowing non-participating governorates to join the initiative as soon as their infrastructure and technology bases get prepared, especially natural gas supply stations and scrapping yards.

 

In addition, any new company operating in Egypt is allowed to join the initiative provided that 45% of their vehicles are locally manufactured. Replacement Applicants may also easily change and complete their data, type or colour of cars through the Initiative electronic website by firstly canceling the old application and then resubmitting a new updated one.  Furthermore, citizens may register their "replacement applications" as soon as 2 years pass since the date of their old cars' licenses.

 

Dr. Maait further added that a technical support team has been formed in coordination with e-finance Company to solve any technological and technical problems during the electronic registration process of vehicle replacement applications on the Initiative website.

 

Official spokesman of the presidential vehicle replacement initiative, Dr. Tarek Awad, noted that there are 40 thousand “Replacement Applications” compliant with the initiative's terms and conditions, and contain all required data. However, he added that warning text messages have been sent to those applicants who completed their procedures and haven't gone yet to scrapping yards in the set dates last April. Unless they go to scrapping yards not later than the present May, their applications shall be cancelled. These warnings are sent so as not to postpone applications of other serious citizen and also to guarantee delivering support and incentives to those really deserving them, stressed Dr. Awad.

 

Citizens’ inquiries, proposals and ideas for the entities in charge of implementing the Initiative can be received by the technical support team with high consideration and interest via the Hotline 15707, Dr. Awad stated.