Egypt’s Presidential Initiative: A Move to Replace Obsolete Vehicles

Minister of Finance, Mohamed Maait, revealed that the state’s general treasury has allocated EGP 675 million for a green incentive program supporting the purchase of 27,225 new natural gas-powered vehicles. As part of the presidential initiative to eliminate obsolete vehicles and promote environmental sustainability, citizens can now request to replace and scrap their old vehicles, provided they meet specific environmental requirements.

Maait announced on Monday that the government is actively expanding the initiative to all governorates across Egypt, based on the availability of the required infrastructure to support natural gas-powered cars. This step marks a significant move towards fostering green transformation efforts in the country. The Egyptian government has urged the business community and manufacturers to present smart products and solutions to aid in the development of vehicle manufacturing technology.

In collaboration with the Federation of Egyptian Industries, invitations were extended to members of the Automotive Division of the General Federation of Chambers of Commerce, encouraging their active involvement in advancing the environmentally friendly automobile industry, its components, and the necessary infrastructure for its operation. Interested parties can submit their proposals and offers via email.

The Minister highlighted that the initiative has already begun receiving requests from citizens in Ismailia, expressing their interest in replacing their outdated cars, which were manufactured over 20 years ago, with new natural gas-powered vehicles. This initiative aims to facilitate the process of providing citizens with access to new models of environmentally friendly cars at competitive prices, as part of the state’s broader efforts to combat air pollution and reduce harmful carbon emissions.

Khaled Nofal, First Assistant Minister of Finance and Chairperson of the Vehicle Replacement Fund at the Ministry, emphasized that the initiative welcomes proposals from the business community and car manufacturers to foster joint collaboration.

Furthermore, to ensure the seamless implementation of the replacement initiative, citizens from Sharqyea and Beni Suef governorates, who have applied to replace their obsolete cars, will soon have their vehicles scrapped at the main yard of the Greater Cairo Governorate in Abu Rawash area. This measure aims to expedite the process for citizens to receive their new, eco-friendly vehicles.