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Wednesday, 29 March 2017

AmCham CEO on bolstering economic ties with Washington; Saudi company got milk?

Just like the foreign press, the talking heads of Egypt have begun to get excited about President Abdel Fattah El Sisi’s DC trip next week to meet Trump.

Yahduth fi Masr’s Sherif Amer hosted AmCham President Anis Aclimandos to talk about economic ties between Egypt and the YS ahead of President Abdel Fattah El Sisi’s upcoming visit to the White House, which Aclimandos believes will be a harbinger of good news. Egypt, home to about 30% America’s investments in Africa, is an important market for US companies. American outfits should look at Egypt’s trade agreements with Europe and Africa and consider Omm El Donia as a potential manufacturing hub, Aclimandos said. “President Donald Trump will try to promote investment in Egypt if he believes it will benefit the US because he has a business mindset,” he added.

Over on Masaa DMC, Osama Kamal spoke to Industrial Development Authority (IDA) chief Ahmed Abdel Razek about his office’s plan to allocate around 60 mn sqm of land to industrial projects by 2020. In 2016 alone, the IDA issued 11.5 mn sqm (watch, runtime 3:24).

The host then moved on to the challenges facing SMEs in Egypt, where a gent by the name of Hossam Faried said the coming two years will be a great time in which to get into manufacturing given (a) the import substitution imperative and (b) the prevailing exchange rate (watch, runtime 7:08).

On Kol Youm, Amr Adib covered the Health Ministry’s agreement with Saudi-Egyptian infant milk producer Lacto-Misr, which will see the latter supply the ministry with an annual 18 mn packs a year starting next year, enough to cover the shortage in the domestic market, according to an announcement by Health Minister Ahmed Rady made on Tuesday. There was plenty of bloviating centered around MPs not buying the Health Ministry’s claim that it had basically forgotten that Lacto-Misr exists. The company exports to the Netherlands, but was apparently banned from selling in Egypt after a 2005 quality incident. Clips here and here and here if you must.

On Hona Al Assema, Lamees El Hadidi kicked off the qualifiers for the final stages of her EG Bank-sponsored Hona Al Shabab startup competition, which saw most votes going to the online psych platform Shezlong (watch, runtime 4:29).

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