Good morning, folks, and a happy hump day to you all. We bring you an unusually government-focussed issue today, with several in-the-works initiatives and future targets to address some of the issues facing the country catching our attention.

In today’s issue, we dive into a major customs overhaul to stop penalizing local manufacturers, how the government’s new National Narrative for Comprehensive Development is trying to put the green(back) in the green economy, Egypt redefining its regional gas hub strategy and much, much more.

***

WISH THIS MORNING’S ISSUE was a podcast? We’ve got you. Tap or click here to listen to Morning Drive, a 10-minute version of today’s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses.
***

Watch this space

INVESTMENT — The General Authority for Investment and Freezones is ramping up the full-scale operation of its unified investment licensing platform, a move intended to be the final nail in the coffin for the multiple-window red tape that has long plagued the local business environment. Following a pilot phase that began in mid-2025, the platform has now moved into a broader rollout as the state’s primary interface for securing operational approvals, according to an authority statement.

Gone are the days of having to trudge from ministry or authority building to another to get a project over the line — they say — with the portal centralizing inputs from 41 different government entities into a single online gateway. The platform is designed to act as a unified digital window for 460 different services, including the various licenses, approvals, and permits required to launch and operate economic activities.

The authority is also doubling down on a reduced turnaround time, committing to issuing final licenses within a maximum of 20 business days, provided all necessary documentation is correctly submitted.

Why it matters: The often overwhelming maze of government institutions, red tape, and delays have been flagged as one of the main frustrations of investors — both foreign and local — for as far we can remember. If the platform really can enforce a 20-day turnaround across 41 separate bureaucracies and work as it should, the improvement to the ease of doing business could have a significant impact on investment flows.

What’s next? Investors will be eager to see if the platform can really offer what it promises. Getting 41 government entities to all work together effectively and efficiently to meet a 20-day turn around will be no easy feat, and there’s always the risk that minor documentation correction requests and other tactics by government clerks may spring up as a way to get around the 20-day deadline.

TAX — Egypt takes the chair as UN moves to challenge OECD tax dominance. Assistant Tax Minister for Tax Policy Ramy Youssef is in New York to chair the UN committee tasked with drafting a new framework convention on international tax cooperation. The committee has until July 2027 to deliver a final treaty to the body’s General Assembly.

Why this matters: For years, the OECD has set the global tax agenda, but developing nations — led by the Africa group — successfully lobbied to move the conversation to the UN. By chairing this committee, Egypt is positioning itself at the center of an effort to rewrite rules on taxing rights. The new UN framework could give countries like Egypt more power to tax the earnings of digital giants and multinationals based on where their customers are, rather than where the company is headquartered.

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.

Subscribe here

** DID YOU KNOW that we cover Saudi Arabia, the UAE and the MENA-IndiaCorridor?

Happening today

The private sector is eagerly awaiting S&P Global’s Purchasing Managers’ Index report for January, due out later this morning, amid hopes that non-oil activity will remain in the green for the third straight month.

Our stint in the green has been a nice change of pace, as the country has only managed to do this four times since November 2020.

The annual Capital Markets Summit begins today, kicking off under the theme Financial Technology: The Path to Investment Inclusion. Some big names from the private and public sectors will be in attendance for the one-day event, including Finance Minister Ahmed Kouchouk, Beltone’s Khalil El Bawab, CI Capital’s Mahmoud Khalifa, EGX’s Islam Aazam, Thndr’s Ahmed Hammouda, and Contact Financial Holding’s John Saad.

Data point

53% — that’s the private sector’s share in national investments during the previous fiscal year, outpacing public spending in the national investment mix and marking the private sector’s highest share in five years, according to the Planning and International Cooperation’s annual report entitled Jobs, Growth and Resilience: Delivering for a Future-Ready Egypt (pdf).

PSA-

WEATHER- It’s set to be a hazy day in Cairo today, with a high of 22°C and a low of 12°C, according to our favorite weather app.

It’s much the same in Alexandria, with a high of 20°C and a low of 10°C.

The big story abroad

Elon Musk is merging SpaceX with xAI, creating a USD 1.25 tn venture, people in the know told Bloomberg. The move sets the stage for Musk to carry out his plan of setting up data centers in the planet’s orbit — he claims that that space will be the cheapest place for AI computing in two to three years. Properties formerly owned by xAI — Grok chatbot and X.com — now fall under SpaceX’s umbrella.

The world’s richest man still intends to take SpaceX public this year, in an IPO that could see the company raise as much as USD 50 bn, a source told Bloomberg.

AND- Our usual dose of global trade updates: US President Donald Trump has agreed to trim punitive tariffs on India on the condition that New Delhi stops buying Russian oil, reducing the levies from 25% to 18%. India will slash its levies on Washington down to zero. After a phone call with Indian Prime Minister Narendra Modi, Trump said New Delhi has agreed to buy more oil from Venezuela as well as upwards of USD 500 bn in US energy and other products.

Software giant Oracle has raised USD 25 bn in a blockbuster bond offering, attracting an orderbook of USD 127 bn at its peak, the Financial Times reports, citing people it says are familiar with the transaction. The funding came through amid concerns that Oracle was striking up an unsustainable level of debt to back its AI spending.

*** It’s Going Green day — your weekly briefing of all things green in Egypt: EnterpriseAM’s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.

In today’s issue: We take a look at how the National Narrative for Comprehensive Development recasts green targets as a tool for economic growth, not just as an environmental responsibility.

Tags: