Back to the complete issue
Monday, 2 July 2018

Japan eases travel advisory for Egypt

Egypt, Sudan and Ethiopia will launch their joint development fund this week, Sudan’s Minister of State Osama Faisal said at a press conference following an Arab Parliament session in Cairo, Ahram Online reports. The three countries had agreed in January to set up a joint investment fund between their three countries to finance infrastructure projects as part of talks to resolve a deadlock on the Grand Ethiopian Renaissance Dam.

Meanwhile, Sudanese opposition leader Sadiq Al Mahdi has reportedly been refused entry on his return to Egypt, where he had been living in self-imposed exile, Reuters reports. Sudan’s government had accused al-Mahdi in 2014 of conspiring with armed rebels.

President Abdel Fattah El Sisi met French Foreign Minister Jean-Yves Le Drian in Cairo on Thursday to discuss increasing cooperation in several fields, in addition to regional developments, according to an Ittihadiya statement.

Japan has amended its travel advisory for Egypt to Level 1, which encourages travelers to exercise normal precaution, Egypt’s ambassador in Tokyo Ayman Kamel said, Ahram Gate reports. Japan previously had a Level 2 travel warning for Egypt, which recommends that travels reconsider traveling to the country altogether. EgyptAir had resumed flying to Tokyo last September after a four-year suspension due to weak demand.

Egypt topped the list of FDI recipients among COMESA member countries in 2017, according to a COMESA report cited by AMAY. Egypt saw the establishment of 92 new foreign projects last year with a combined total investment of USD 7.41 bn, outpacing Ethiopia (USD 3.57 bn), the Democratic Republic of the Congo (USD 1.35 bn), and Sudan (USD 1.06 bn). COMESA countries accounted for 30% of total FDI to Africa during the year, which saw overall FDI inflows to the continent drop by 21%, according to the report.

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.