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Wednesday, 19 October 2022

Last Night’s Talk Shows: El Sisi’s sitdown with private sector players

El Sisi’s meeting with industry players dominated the airwaves last night. President Abdel Fattah El Sisi held a meeting with a delegation of Egyptian business leaders and investors a range of industries yesterday, Ittihadiya said in a statement. Government officials showcased potential projects and highlighted incentives to boost local and foreign investment. Kelma Akhira (watch, runtime: 5:00) and Al Hayah Al Youm (watch, runtime: 7:53) were among those covering the news.

ICYMI- We have a few ideas of our own on the once-in-a-century chance to boost FDI and turn the country into an export powerhouse. Consider discussing them when you attend the Madbouly government’s hotly anticipated economic conference, which will take place Sunday-Tuesday next week.

Keeping communication lines open: The president highlighted the significance of maintaining direct communication with investors and the local business community as part of the state’s efforts towards comprehensive development, the statement read. Some of the other main talking points out of yesterday’s sit-down:

  • Around “75% of the Egyptian economy is in the hands of the private sector,” El Sisi said, according to Kelma Akhira (watch, runtime: 3:15).
  • El Sisi said import issues will be resolved in a month or two, Agriculture Export Council head Abdel Hamid El Demerdash told Salat El Tahrir (watch, runtime: 5:04). “The meeting was very fruitful and encouraging,” he added.

ALSO- Car dealers are all for the expat car import scheme that the House passed yesterday: “This move will help stabilize prices and once again stimulate the local passenger car market,” one car dealer told Kelma Akhira (watch, runtime: 1:52). Used car dealers will benefit most from the decision, another said. Catch the full story on the scheme in our Automotive section, above.

The decision will also help reduce the black market for passenger cars, Noureldin Darwish, vice president of the Chamber of Commerce’s auto division, told Hadret Al Mowaten (watch, runtime: 4:38).

Milk expats for FX: Hopefully this will be the first in a series of decisions aimed at attracting more FX from Egyptian expats, head of the car traders’ federation Osama Abou El Magd told Al Hayah Al Youm (watch, runtime: 11:43).

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