Back to the complete issue
Thursday, 19 October 2017

On the horizon

The executive regulations to the Investment Act will be issued next week, Prime Minister Sherif Ismail told the press yesterday, Al Masry Al Youm reports. Cabinet received the regulations from the Investment Ministry yesterday and will discuss the package next week, the PM said. The Council of State had completed its review of the regulations late last month. Also on the Cabinet’s agenda next week is a discussion of the Unified Building Code.

EGAS will also send the Natural Gas Act’s executive regulations to the Ismail Cabinet this month, a top Oil Ministry official tells Al Shorouk. The regs have already been drafted and are awaiting Minister Tarek El Molla’s sign off, they add. We had previously been hearing that these will be issued before the year is out with an eye to begin issuing licenses to import and operate next year. We noted yesterday that we’re seeing an influx of companies applying for licenses to import natural gas, with three companies already receiving preliminary approval from EGAS.

President Abdel Fattah El Sisi will inaugurate the new Alamein city early next week. Housing Minister Mostafa Madbouly said the city will eventually be home to 3-4 mn people and house an industrial zone, universities, and tourism developments.

EFG Hermes will hold its 7th Annual London Conference on 6-9 November. The conference will see C-suite execs from top listed companies in MENA as well as frontier markets (among them Pakistan, Kenya, Nigeria, Bangladesh, and Sri Lanka) meet face-to-face with top global investors with mandates to invest in emerging and frontier markets. The event will take place at Emirates Arsenal Stadium in London.

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.