The Ministry of Industry and Mineral Resources has processed 1,682 applications for industrial customs exemption in December 2024, according to a statement cited by SPA.
This comes as part of the Ministry’s efforts to encourage local industry and boost its global competitiveness, by exempting national industrial facilities from customs duties on their imports of industrial inputs, it added.
The Ministry also indicated that the processed customs exemption applications include 11,013 items for raw materials, and 53,035 items for machinery, equipment and spare parts.
Through the customs exemption service, the Ministry is keen to support and encourage local factories, develop their national production sectors, reduce production costs, and create new industrial opportunities.
The service enables licensed industrial establishments to obtain an exemption from customs duties on their imports of machinery and equipment, spare parts, primary raw materials, semi-manufactured materials, and packaging materials directly required for production.
The Ministry of Industry and Mineral Resources has processed 1,682 applications for industrial customs exemption in December 2024, according to a statement cited by SPA.
This comes as part of the Ministry’s efforts to encourage local industry and boost its global competitiveness, by exempting national industrial facilities from customs duties on their imports of industrial inputs, it added.
The Ministry also indicated that the processed customs exemption applications include 11,013 items for raw materials, and 53,035 items for machinery, equipment and spare parts.
Through the customs exemption service, the Ministry is keen to support and encourage local factories, develop their national production sectors, reduce production costs, and create new industrial opportunities.
The service enables licensed industrial establishments to obtain an exemption from customs duties on their imports of machinery and equipment, spare parts, primary raw materials, semi-manufactured materials, and packaging materials directly required for production.
