The Minister of Industry and Trade, Neveen Gamea, held a press conference to present the outcomes of Go Green exhibition, where she emphasized that there is a great citizens’ turnout on the initiative’s website of natural gas car conversion as the total number of the registers during the exhibition days reached about 20,000 citizens, including 10,000 citizens who applied to benefit from the initiative.
Gamea mentioned that many banks, factories, and gas companies participated in the exhibition, noting that the Central Bank of Egypt (CBE) circulated fixed requirements for the initiative to make all banks participate in it. She also noted that the first phase of the initiative is being implemented during 2021 through 70,000 cars replacement including 55,000 private cars and taxis, and 15,000 microbuses. She pointed out that the natural gas car conversion will save 50% of the vehicle’s operating cost and the maintenance expenses.
She stated that the Ministry of Finance will launch a stimulus fund to boost local products under the name of Green Fee, pointing out that there is a tendency to attract foreign investments to activate electric cars.