Back to the complete issue
Thursday, 23 February 2017

Peugeot-Citroën makes automotive directive a condition for investing in Egypt

Peugeot-Citroën, which had made the automotive directive a condition for its investment in Egypt, has now added the Investment Act to the bundle, Ahram Gate says. The company’s Middle East and Africa Executive VP Jean-Christophe Quémard picked-up the same line other company executives had carried in Cairo in December, telling Trade Minister Tarek Kabil that they would continue to monitor the situation closely before they make the call.

Meanwhile, five French companies are planning on investing in Egypt within three months, Egypt-France Business Council Chairman Fouad Younes tells Al Borsa. Younes declined to name the companies, but said they are in the solar power, athletic supplies, auto manufacturing, and auto component industries. Trade and Industry Minister Tarek Kabil said athletic supplies manufacturer Decathlon is looking into setting up in Egypt, according to Al Mal.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.