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.