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Thursday, 19 April 2018

On the horizon

The House Planning and Budgeting Committee will begin its discussion of the proposed FY2018-19 state budget on 5 May with sessions that include representatives from the ministries of finance, planning, education, health, and transport. The talks were meant to be held earlier but had been postponed due to the World Bank and IMF Spring Meetings, which Finance Minister Amr El Garhy and Investment Minister Sahar Nasr are attending.

The committee expects to complete its review of the Auctions and Tenders Act by 24 April, committee chair Yasser Omar tells Youm7. The legislation would decentralize tender procedures and streamline the selection process for winning bids as well as set new quotas for domestic components and SME contractors. It would also promote two-stage tenders to give the government more options when choosing contractors and suppliers, while also curbing spending by placing restrictions on the amount government agencies can pay out in a tender.

It’s looking rather busy this weekend and well into next week:

  • Pharos-affiliated Pride Capital, Egypt’s first fintech-focused accelerator, is hosting a workshop titled “Financing Small Merchants” on Monday, 23 April at the Greek Campus.
  • Our friends at Renaissance Capital are holding their third annual Egypt Investor Conference in Cape Town on 24-25 April.
  • GERD talks: Egypt has invited Sudan and Ethiopia to another round of negotiations over the Grand Ethiopian Renaissance Dam (GERD) in Cairo on 20 April.
  • The seventh edition of the El Gouna International Squash Open will take place on 20-27 April.
  • The Egyptian-Sudanese Business Council will hold its first meeting on Saturday 21 April.

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