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Monday, 7 August 2017

What we’re tracking this week

The Ismail cabinet’s economic group will be discussing the final form of theInvestment Act’s executive regulations this Wednesday, according to statements from Investment Minister Sahar Nasr last week. Discussion of the regs in the economics committee of the House of Representatives concluded yesterday, according to committee chair Amr Ghallab, who told the press that MPs will prepare a memo with their remarks on the document, although the government is not obliged to address them. Among the committee’s issues are reservations on the definition of special economic zones and clauses that could allow the law to be applied retroactively to businesses or investments that started before it was enacted, according to MP Medhat El Sherif.

Also this week, the Ismail government’s investment map should go to the House Economics Committee, according to committee chair Amr Ghallab. An alleged draft of the map, which includes c. 600 projects in a wide range of sectors and locations, was leaked last month.

Vodafone’s talks with the NTRA about repricing haven’t yet amounted to much, reports Al Mal. Sources told Al Mal that the meeting was brief, didn’t result in anything and that no future meetings were scheduled with Vodafone. We noted yesterday that all three mobile network operators will be meeting the NTRA this week to lobby for approval of new tariffs that take into account rising expenses stemming from everything from the float to the phase-out of energy subsidies.

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