Author Archives: enterpriseam admin

Vietnamese investors coming, too? Over in Hanoi, President Abdel Fattah El Sisi discussed cooperation with Vietnamese Prime Minister Nguyen Xuan Phuc (pdf), who noted that Vietnam is interested in importing chemicals, meds, and cotton from Egypt and is looking to cooperate on agriculture, transport, education, and tourism. Vietnam’s foreign minister told a business forum attended […]

Is the Mercosur FTA bad news for the domestic auto industry? Egypt’s trade liberalization agreement with Mercosur countries — which lifts customs on car parts by up to 60% — coupled with the lack of a government strategy to develop the auto sector will “destroy” Egypt’s chance at developing an car manufacturing industry, Deputy President […]

Pharos Holding is looking to close transactions worth EGP 7.5 bn over the next 18 months as it moves into non-banking sectors, CEO Elwy Taymour told Reuters in an interview (here for Arabic). He says the transactions range from M&As to IPOs and capital increases for companies “operating in the food, retail, healthcare and chemical […]

Russian airlines need a month to resume flights to Egypt once the ban is lifted, Russian Transport Minister Maxim Sokolov tells Sputnik. Sources also tell the news website Egypt is expected to hold a new round of talks with Russia over “the next few days” to set dates for the return of air travel to […]

The hotel market in Red Sea cities is still reeling from the effect of travel bans from European countries, and “demand has not shown any signs of recovery,” says Colliers International’s latest MENA Hotel Forecasts report (pdf) for August-October 2017. “Although travel advisories from most traditional source markets have eased, [Hurghada] continues to suffer from […]

De ja vu — Are GASC’s other, non-ergot related policies alienating foreign driving away exporters including the Ukraine? The General Authority for Supply Commodities’ (GASC) decision earlier this year to raise its requirement for the protein content in wheat imports to 12.5% from 11.5% may cause Ukraine to “tumble out of the Egyptian market,” Ukraine’s […]

Doha agrees to go to negotiation table after Trump’s mediation efforts, but Saudi says it is suspending all dialogue after botched call: Kuwait’s Emir Jaber al-Ahmad al-Sabah reportedly received a letter from Doha “agreeing to sit down and discuss the list of 13 demands” made by the Saudi-led quartet, Reuters says. This comes as the […]