The Ministry of Industry and Mineral Resources processed 1,682 applications for industrial customs exemption in December 2024, according to a statement cited by the state-run SPA.
This comes as part of the ministry’s efforts to encourage local industry and boost its global competitiveness through exempting national industrial facilities from customs duties on imports of industrial inputs, it added.
The ministry processed 11,013 customs exemption applications for raw materials and 53,035 for machinery, equipment, and spare parts.
Through customs exemption, 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.