The Federation of Egyptian Industries (FEI) and the House Industrial Committee will discuss proposed amendments to the Public Procurement Law on Wednesday, Al Borsa reports. The law grants Egyptian products preferential treatment in government contracts and promotes local industry. The FEI will push to reduce the minimum quota of Egyptian products used in national projects from the 40% level currently demanded, saying local producers just can’t meet demand, member Abdel Moneim El Kady tells the newspaper.
More from Enterprise
AI in Egyptian banking is “in its infancy,” and the pause is deliberate
Bankers say the rules aren’t written yet. Data center builders…
Banks threaten to look beyond London as windfall tax talk grows
International lenders say more tax could tip the balance as…
EFG has three more IPOs lined up before year-end, including one hefty offering
Group CEO Karim Awad credits the central bank’s decision to…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…