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It was a busy Tuesday at the cabinet, with ministers approving a raft of decisions. Among the most notable are:
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#1- University of East London is coming to Egypt: Ministers approved a presidential draft decision permitting the European Universities in Egypt (EUE) to host a branch of the University of East London.
REMEMBER- Foreign branches have become increasingly popular in the past few years: After ratifying the International Branch Campus Act in 2018, Egypt allowed international universities to set up local branches by building their own campus or partnering with an Egyptian company. The program has largely been successful, with several international universities moving to open branches in Egypt, with the EUE hosting the UK’s University of London and University of Central Lancashire, and the University of Texas, to name a few.
#2- Investment and Foreign Trade Ministry receives the cabinet greenlight: Madbouly’s decision to reinstate the long-shelved Investment and Foreign Trade Ministry received the cabinet’s approval. The newly-revived ministry will work to create a favorable investment environment and encourage both local and foreign direct and indirect investment by providing incentives. It will also focus on developing Egypt’s foreign trade, strengthening trade relations, and boosting our exports.
#3- Safaga operating company receives the greenlight: The cabinet approved a draftdecision that grants Egyptian joint stock company Safaga Station Operating Company the right to build and develop the superstructure of the Safaga Port as well as handle its management, operation, and management.
#4- Dekheila Container Terminal got the greenlight to build and develop the superstructure of a container terminal at the Dekheila port in Alexandria, as well as operate and maintain the terminal upon construction.
Remember: The government last year signed two agreements worth USD 1.6 bn with two Hutchison Ports-led consortiums to develop new container terminals at Ain Sokhna and Dekheila ports, with the companies set to operate and maintain the terminals for 30 years.
