El Khatib in Kuwait for investment talks

Good afternoon, wonderful people, and welcome to a new week and a new month. We’re starting off with a full issue today, following investment talks, measures to curb industrial land hoarding, and the tech to keep an eye on in 2025.

THE BIG STORY TODAY-

El Khatib touches down in Kuwait for investment talks: Investment Minister Hassan El Khatib is in Kuwait today for the inaugural session of the Egypt-Kuwait joint trade and industry committee, according to a ministry statement. During the visit, El Khatib will meet with Kuwait’s finance, trade, and industry ministers, participate in ministerial and expert discussions, and engage with key investors to promote Egypt’s investment opportunities and boost trade.

THE BIG STORY ABROAD-

Canada, Mexico, and China strike back: US president Donald Trump’s imposition of a 25%tariff on goods from Canada and Mexico and a 10% tariff on Chinese goods on Saturday drew vehement criticism from all three countries, with Canadian prime minister Justin Trudeau responding Sunday by placing a 25% tariff on USD 107 bn worth of US goods, warning that they could shutter US factories and push up consumer prices. Mexican president Claudia Sheinbaum also denounced the move and pledged countermeasures, stating that “you don’t solve problems by imposing tariffs, but with talking and dialogue.” Chinese officials dismissed the 10% tariff as “not a big shock to China’s economy” but condemned it as a pretext for economic warfare, with the country’s commerce department threatening to file a suit against the US at the World Trade Organization.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• Morgan Stanley observed a sentiment of "cautious optimism" over Egypt’s economy among local stakeholders during its recent trip to Cairo, where its representatives met with policymakers and experts to gauge the overall economic outlook and compare it with the bank’s own forecasts across different sectors.
• El Sisi, Trump discuss Gaza, cooperation: President Abdel Fattah El Sisi spoke over the phone with US President Donald Trump yesterday, during which the two discussed “critical importance of advancing the implementation of the first and second phases of the ceasefire agreement.”
• El Attal Holding has become the latest local real estate player to announce its intention to go public in 2025, with the developer planning to list some 28% of its shares on the EGX in 3Q 2025.

*** It’s Inside Industry day — your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

In today’s issue: We take a look at what the government has been doing to crack down on industrial land hoarding.

☀️ TOMORROW’S WEATHER- Temperatures are warming in the capital, with the mercury set to reach a high of 23°C, before a steep dive to 12°C at night, according to our favorite weather app.