Back to the complete issue
Thursday, 10 August 2017

On the horizon

We were looking forward to hearing overnight that the Ismail cabinet had signed off on the executive regulations of the Investment Act yesterday. That didn’t come to pass — cabinet postponed the meeting on the regs until next week, Investment Minister Sahar Nasr said, according to AMAY. The expectation is that regulations should come into effect before the end of August.

Also next week: The cabinet will also conclude talks on the new Leasing and Factoring Act, and we’re still waiting to hear details of the 600 projects that make up the government’s investment map.

The Supreme Judicial Council should be nominating its picks for the National Elections Commission in the next days, according to Al Masry Al Youm.

August should be an interesting time for the nation’s healthcare sector, as the Universal Healthcare Act will be reviewed by the cabinet at the end of the month, with an eye to completing the act and presenting it to the House during its next session in September.

Pharma companies should also expect some disappointment this month as the government looks set to do away with a price increase on meds. Not to be outdone in populism, the House Economics Committee will do its level best to drive a dagger into the heart of the idea when they meet this month to discuss it. A committee created by the Ministry of Health met Wednesday with the Pharmacists Union in an attempt to end a six-day strike. The union presented a list of demands to do with pricing and regulating pharmacies and it was agreed they would meet again next week after compiling more data.

The House of Representatives will be focusing on tax-related legislation when it reconvenes this fall, according to Budgeting Committee MP Yasser Omar, who tells Al Borsa that amendments to the tax code will be geared towards increasing collection.

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.