REGULATION WATCH- No more licenses for tuk-tuk makers: The Industrial Development Authority (IDA) has decided to stop handing out licenses to tuk-tuk manufacturers and assemblers that are looking to expand in Egypt, a Trade Ministry source tells Youm7. The decision comes in light of government orders to curb their use as a means of transport and replace them with seven-seater minivans, the source said. The government said last week that governors were looking into issuing public transport licenses for seven-seater minivans as a replacement for three-wheeled tuk-tuks. Prime Minister Moustafa Madbouly had ordered in December a temporary freeze on licensing the three-wheel vehicles, but the freeze was apparently reversed for a short window in January.
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…