Promoting Industrial Growth and Encouraging Foreign Direct Investment in Egypt
Assay and Weights Authority
Industry-Specific Reforms > Mineral Industry
- The precious articles and jewelry industry encounters a range of problems with the Customs Authority, the Taxation Authority, banks, and the Assay and Weights Authority. The current practice of calculating fees and dues as a percentage of the value of the product is not reasonable in the case of gold products, where the value is very high and the rate of profit rate (workmanship) is low.
Responsible Entities
Date 2/2/2020
Industry-Specific Reforms > Mineral Industry
- Restructure the Assay and Weights Authority and bring it back under the umbrella of the Ministry of Trade and Industry. The restructuring exercise should entail reformulating and improving the relationship between the Assay and Weights Authority and the gold manufacturers and traders to combat the rampant fraud prevailing in the market so that the industry can reclaim its credibility and foreign markets. More so, the effort should include reviewing and reforming the customs regulations that limit the export of precious articles, and raw materials used in the production of jewelry, as well as addressing all bureaucratic obstacles that hinder the industry.
Responsible Entities
Date 2/2/2020
Responsible Entities
Date 2/2/2020