House gives first nod to tourism bill: The House of Representatives yesterday gave its preliminary approval to a draft bill that will strip the power to form and regulate tourism chambers from the Tourism Minister and place it instead in the hands of the Egyptian Tourism Federation (ETF). The 72-article bill aims to make tourism chambers more democratic and independent and reinforce their role in promoting the industry, according to a report by the House Tourism and Aviation Committee.

Private sector to get a bigger say in tourism strategy? “The bill strengthens cooperation among private sector tourism companies in drawing up strategies for tourism promotion and marketing,” Tourism Minister Ahmed Issa told the House yesterday. It comes as the government looks to more than triple annual tourism revenues to reach USD 30 bn, he added.

REMEMBER- The government is pushing the tourism sector to up accommodation capacity and improve services as part of plans to boost the sector. Look out for a new tourism strategy later this quarter for details on how those goals will be achieved.

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Also getting the greenlight: MPs gave their final approval yesterday to the country joining two multilateral agreements: one offering administrative assistance on tax matters, and the other to join the BRICS economic group’s New Development Bank.

Good news for de-dollarization? “Egypt joining the BRICS Group's New Development Bank will also help reduce demand for USD as bank members can use their national currencies in exchange of trade," Deputy Chairman of the House Economic Committee Mohamed Abdel Hamid said. Talk of the benefits of trading in currencies other than the USD has ramped up amid a hard currency shortage and in the wake of the most recent EGP devaluation, and after Russia’s central bank approved the EGP as a trade currency earlier this month.

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AND- A crackdown on fake weather forecasts: The House has received a government-drafted bill that regulates the performance of the country’s Egyptian Meteorological Authority (EMA) and introduces hefty fines for fake news on weather forecasts. Under the legislation, anyone who uses social media or other media outlets to publish “fake news” on weather conditions could face a fine of between EGP 100k and EGP 5 mn. The same penalty would be imposed on those who buy weather forecasting equipment, set up meteorological stations, or release any kind of weather report without the prior approval of the EMA.

Weather privatization in the works? The bill would also allow the EMA to open the door to the private sector to enter the weather forecasting business.