{"id":551033,"date":"2022-05-22T13:22:08","date_gmt":"2022-05-22T13:22:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=afternoon&#038;p=551033"},"modified":"2025-12-15T23:14:35","modified_gmt":"2025-12-15T23:14:35","slug":"where-the-government-wants-to-develop-our-manufacturing-chops","status":"publish","type":"afternoon","link":"https:\/\/enterpriseam.com\/egypt\/afternoon\/where-the-government-wants-to-develop-our-manufacturing-chops\/","title":{"rendered":"Where the government wants to develop our manufacturing chops"},"content":{"rendered":"<section id=\"551035\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"551035\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">WHAT WE\u2019RE TRACKING TONIGHT<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/this-evening-fawry-delays-us-listing-indefinitely-saudis-savola-group-nears-egyptian-belgian-company-acquisition-ibnsina-pharma-acquires-el-shorouk-hospital\/\">\r\n                            THIS EVENING: Fawry delays US listing indefinitely + Saudi\u2019s Savola Group nears Egyptian Belgian Company acquisition + Ibnsina Pharma acquires El Shorouk Hospital                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/this-evening-fawry-delays-us-listing-indefinitely-saudis-savola-group-nears-egyptian-belgian-company-acquisition-ibnsina-pharma-acquires-el-shorouk-hospital\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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The news cycle is hitting the ground running today, with a handful of happenings in capital markets.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>THE BIG STORIES TODAY<\/strong><\/p>\n<p><strong>#1- EGX-listed e-payments giant Fawry\u2019s board of directors has decided to delay its<\/strong><strong> US listing <\/strong>due to the current unfavorable environment for US tech stocks, a source from Fawry told Enterprise, adding that this was decided during Fawry\u2019s earnings call last week. The company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b39b1b1b-5efa-4e74-a05e-e910d41454a2\">had been<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b39b1b1b-5efa-4e74-a05e-e910d41454a2\">exploring<\/a> an SEC-registered secondary offering, with plans to create an American depositary shares program (ADS) to allow it to list. The source did not disclose where Fawry currently stands in its preparation process for the IPO.<\/p>\n<p><strong>#2- Saudi Arabian food conglomerate Savola Group is close to acquiring the Egyptian<\/strong><strong> Belgian Company <\/strong>\u2014 famous for its Ole-branded baked goods \u2014 in a transaction valued near EGP 600 mn, a source familiar with the matter told Enterprise, confirming a report from <a href=\"https:\/\/hapijournal.com\/2022\/05\/22\/%D8%B5%D8%A7%D9%81%D9%88%D9%84%D8%A7-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D9%82%D8%AA%D8%B1%D8%A8-%D9%85%D9%86-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%B9%D9%84\/\">Hapi Journal<\/a>. Hapi Journal reported that the acquisition would see the company acquire the manufacturer\u2019s assets and brand name. The sources did not disclose the exact timeline for the acquisition.<\/p>\n<p><strong>#3- Ibnsina Pharma is getting in on the hospital business with the acquisition of<\/strong><strong> brownfield <\/strong><strong><a href=\"http:\/\/elsheroukhospital.com\/\">El Shorouk Hospital<\/a><\/strong> in Shorouk city in a EGP 430 mn transaction, the company announced in a <a href=\"https:\/\/ent.news\/2022\/5\/Ibnsina-hospital-acquisition-english.pdf\">press release (pdf)<\/a>. The 105-bed hospital includes operating rooms, ICU beds, specialty clinics, as well as several other units.<\/p>\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>Ukraine isn\u2019t accepting a ceasefire agreement with Russia just yet:<\/strong> The war \u201cwill be bloody, there will be fighting but will only definitively end through diplomacy,\u201d Ukrainian President Volodymyr Zelensky told local media (<a href=\"https:\/\/www.dw.com\/en\/ukraine-rules-out-cease-fire-with-russia-live-updates\/a-61890970\">watch, runtime: 00:3<\/a><a href=\"https:\/\/www.dw.com\/en\/ukraine-rules-out-cease-fire-with-russia-live-updates\/a-61890970\">4<\/a>). Kyiv is not willing to shake hands on any agreement that would have it surrender its territory, Ukraine\u2019s lead negotiator tells <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-rules-out-ceasefire-fighting-intensifies-donbas-2022-05-22\/\">Reuters<\/a>. This comes as Russia continues to attack the southeastern city of Donbas, attacking civilians in efforts to capture the remaining Ukrainian-held territory in the city. The story is dominating the front pages of the international press: <a href=\"https:\/\/www.reuters.com\/world\/europe\/ukraine-rules-out-ceasefire-fighting-intensifies-donbas-2022-05-22\/\">Reuters<\/a> | <a href=\"https:\/\/www.bbc.com\/news\/live\/world-europe-61518209\">BBC<\/a> | <a href=\"https:\/\/www.euronews.com\/2022\/05\/22\/live-no-ceasefire-or-concessions-ukraine-said-as-fighting-in-donbas-intensifies\">Euronews<\/a> | <a href=\"https:\/\/www.cnbc.com\/2022\/05\/22\/russia-ukraine-live-updates.html\">CNBC<\/a>.<\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>CBE goes for 200-bps rate hike to tamp down inflation:<\/strong> The Central Bank of Egypt (CBE) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a2b0a89-0a42-47b7-8172-cdf8ce1d8729\">raised interest rates<\/a> for the second time since March as it looks to rein-in inflation and attract foreign investors back to the local bond market, enacting a 200 bps rate hike on Thursday.<\/li>\n<li><strong>Tourism revenues to more than double in 2021-2022 -Maait:<\/strong> Egypt\u2019s tourism revenues <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84145217-2f94-4190-9c94-500c29b40bf1\">will more than double<\/a> in FY 2021-2022 from a year earlier, according to figures announced by Finance Minister Mohamed Maait last week.<\/li>\n<li><strong>Gov\u2019t outlines climate strategy:<\/strong> The Madbouly government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/84b2c1a3-a226-436d-a2d0-d6edd39ab618\">launched its new national climate strategy<\/a>, which feeds into the state\u2019s Vision 2030 sustainable development plan and aims to reduce harmful emissions and prepare the country to withstand the impact of a warming climate.<\/li>\n<\/ul>\n<p class='web-image-inner'><img decoding=\"async\" data-recalc-dims=\"1\" style='display: block' src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/Inside-Industry-en-WEB-1600x584-v5-03-1.jpg?ssl=1\" alt='enterprise'><\/p>\n<p><strong>*** It\u2019s Inside Industry day \u2014<\/strong> <strong>your weekly briefing of all things industrial in Egypt.<\/strong> 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.<\/p>\n<p><strong>In today\u2019s issue:<\/strong> With Egypt\u2019s increased focus on growing local manufacturing to limit imports, the government released a study of which sectors and products are priority areas to produce locally. Today, we take a look at the industries of choice on the government\u2019s radar and break down why these sectors were chosen, which products are in the spotlight, and how much the country could potentially save by cutting down on their imports.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>FOR TOMORROW-<\/strong><\/p>\n<p><strong>Registration for this year\u2019s Hajj through tourism companies closes tomorrow<\/strong> (Monday, 23 May) after the <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0cYBKnPRc4ypXk4EnPr4zAzy2hPRwfHDLZYhAzZhEQJqxjw4Xu6aPJLPFcj9YoVxHl\">Tourism Ministry<\/a> pushed the deadline from last Friday.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>We have two all-Egyptian finals tonight at the CIB-sponsored PSA squash <\/strong><strong>championships:<\/strong> World #1 Nouran Gohar faces world #2 Nour El Sherbini for the women\u2019s championship title while the men\u2019s final match will see second seed Ali Farag play world #3 Mohamed El Shorbagy. The finals get underway this evening. <a href=\"https:\/\/psaworldtour.com\/news\/view\/10032\/elshorbagy-upsets-world-no-1-coll-as-cib-psa-world-championships-cairo-finalists-confirmed\">The PSA has a good scene-setter here.<\/a><\/p>\n<p><strong>What\u2019s at stake:<\/strong> The championship, which has been taking place at SODIC\u2019s Club S Allegria and at the National Museum of Egyptian Civilization, has <a href=\"https:\/\/psaworldtour.com\/news\/view\/9891\/record-prize-money-on-offer-at-2021-22-psa-world-championships\">a record USD 550k in total player compensation<\/a> for each of the women\u2019s and men\u2019s titles.<\/p>\n<p><strong>We don\u2019t have long to wait before Egypt\u2019s next squash tournament kicks off: <\/strong>The CIB-sponsored <a href=\"https:\/\/psaworldtour.com\/tournaments\/view\/11747\">El Gouna International Squash Open 2022<\/a> starts this Friday and runs through to 3 June.<\/p>\n<p><strong>Davos 2022 kicked off today:<\/strong> The World Economic Forum (WEF) will kick off its first in-person annual meeting in more than two years today, bringing the world\u2019s captains of industry, policy and media back to the alpine village in Switzerland. Expect plenty of talk about Ukraine (<a href=\"https:\/\/www.straitstimes.com\/world\/europe\/putins-war-means-russias-rich-arent-welcome-at-davos-anymore\">sans the you-know-whos<\/a>), climate, food security, and the growing uncertainty over the global economy. \u201cHistory at a turning point\u201d indeed.<\/p>\n<p><strong>On Day #1: <\/strong>The <a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2022\/programme\">first day of the event<\/a> will see attendees chew over the global food crisis, the impact on the global economy of sanctions on Russia, and climate tech, as well as the future of globalization, national digital currencies and the effects of social media on societies. It will also see a special address from Ukrainian President Volodymyr Zelensky.<\/p>\n<p><strong>WEF runs through Thursday<\/strong> and you can <a href=\"https:\/\/www.weforum.org\/events\/world-economic-forum-annual-meeting-2022\/programme\">check out the day-by-day agenda here<\/a>, if you\u2019re so inclined.<\/p>\n<p><strong>The Islamic Development Bank will hold its 2022 annual meetings in Sharm El Sheikh<\/strong> <strong>from 1-4 June<\/strong> under the slogan \u201cpost-pandemic recovery: resilience and sustainability,\u201d according to a <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0jvihLteLq8b9ZARt5hJAEhitjqAqsUdj9gAcRJ9xz8m6aPvGvjcAtCR3WmRWc8fEl?__cft__[0]=AZXZssTR1icXqmubKE_PPiV6lREUubQEuMRA3DMjPGWqUbg2ja-RcHKzFB1Af25iQQZkznkM0N16YdKIQEqSCkx0SN1scmJtgoH1nDgbK_2V6updeZ5WJoV-4hua411FMTk0NjP1vA_9uNe0cipuIez3&__tn__=%2CO%2CP-R\">statement<\/a> from the Planning Ministry. Several Egyptian ministries and representatives from the bank\u2019s 57 member countries and other financial institutions are set to attend the meetings.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>The mercury will rise to 33\u00b0C during the day tomorrow before falling to 18\u00b0C at night, our favorite weather app tells us.<\/p>\n<div class=\"stand-out\">\n<p><strong>***<\/strong><br \/> <strong>WE\u2019RE LOOKING FOR SMART, TALENTED PEOPLE to help us build some very cool new things<\/strong>. Today, we run two daily publications, five weekly industry verticals, and a monthly newsletter designed to make our readers feel just a bit smarter.<\/p>\n<p><strong>We have tons more in the pipeline \u2014 come help us build new publications<\/strong>. We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: To create value for our growing community of 200k readers by telling stories that matter.<\/p>\n<p>We\u2019re looking for <strong>editors<\/strong> who want to run publications and teams, editors to help reporters craft stories and talented <strong>reporters<\/strong>. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you\u2019re an equities analyst tired of the rat race, we\u2019re a great place to come work.<\/p>\n<p><strong>Apply directly to jobs@enterprisemea.com and mention Patrick in your subject line.<\/strong><\/p>\n<p><a href=\"https:\/\/enterprise.press\/2022\/04\/28\/come-work-us-hiring-reporters-editors-new-existing-products\/\">Or hit this link for more information.<\/a> It\u2019s worth it \u2014 trust us.<br \/> <strong>***<\/strong><\/p>\n<\/div>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fawry\/\">Fawry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ma-watch\/\">M&amp;A Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/russia-ukraine-war\/\">Russia-Ukraine war<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/savola-group\/\">Savola Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-tonight\/\">WHAT WE\u2019RE TRACKING TONIGHT<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551036\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"551036\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/551036\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551036\" class=\"content-area-description single-story post-551036 post type-post status-publish format-standard hentry category-uncategorized wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p class='web-image'><a href='https:\/\/palmhillsdevelopments.com\/OurDevelopments'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/CLeo-enterprise-1600px-02-1.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551037\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"551037\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">FOR YOUR COMMUTE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/the-expected-themes-in-the-ongoing-davos-meetings-red-sea-dolphins-may-have-nighttime-skin-care-routines-that-rival-your-own\/\">\r\n                            The expected themes in the ongoing Davos meetings + Red Sea dolphins may have nighttime skin care routines that rival your own                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/the-expected-themes-in-the-ongoing-davos-meetings-red-sea-dolphins-may-have-nighttime-skin-care-routines-that-rival-your-own\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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As discussions are largely expected to bring up Russia\u2019s invasion of Ukraine and how to reconstruct the country post-war with an address from Ukrainian President Volodymyr Zelensky, the <a href=\"https:\/\/www.ft.com\/content\/cb2a937a-7425-4892-996a-12950c741352?curator=biztoc.com\">Financial Times<\/a> has outlined the other key themes that could emerge in this season\u2019s Davos. These include economic gloom, which would focus on rising interest rates and spiking energy costs, as well as climate change, preparedness for future pandemics, and how to improve global supply chains.<\/p>\n<p><strong>This edition of Davos is also shrouded in a cloud of distrust<\/strong>, as conversations have arisen that question the moral integrity of the gathering and whether they really have the world\u2019s best interests at heart, the FT writes citing forums on sites such as 4chan. Earlier this year, journalist Peter S. Goodman released a book called <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9f185d27-5c07-42a1-b5fb-89e9d2f35702\">Davos Man<\/a> which looks at how the world\u2019s most affluent segments have often increased their wealth by worsening situations and exploiting systems.<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>Red Sea dolphins may have nighttime skin care routines that rival your<\/strong><strong> own: <\/strong>Dolphins observed off Egypt\u2019s Red Sea coast were found to rub on specific corals and sponges, suggesting that this practice might be a form of self medicating, according to a <a href=\"https:\/\/www.cell.com\/iscience\/fulltext\/S2589-0042(22)00541-7\">study<\/a> picked up by the <a href=\"https:\/\/www.nytimes.com\/2022\/05\/19\/science\/dolphin-skin-care.html?searchResultPosition=3\">New York Times<\/a>. Sponges and corals contain an assortment of chemical compounds and researchers studied pieces of the ones that dolphins liked to rub against to discover if they had healing properties. They found that the sponges and corals had 17 bioactive compounds, including antimicrobials, antioxidants and hormones which can serve as immune boosters or sunscreens. While the findings back up the hypothesis of the research, more testing will still be done to study how dolphins\u2019 skin fares after some coral or sponge skin care.<\/p>\n<p><strong>Apple\u2019s long-rumored AR\/VR headset could become a reality within<\/strong><strong> months: <\/strong>Apple\u2019s next big thing has been widely speculated to be a mixed reality headset to compete with the likes of Meta and Google, and it looks like the iPhone maker has made significant progress on the project, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-19\/apple-shows-headset-to-board-in-sign-it-s-reached-advanced-stage\">Bloomberg<\/a> reports, citing sources it says have knowledge of the matter. The company\u2019s executives showed a preview of the device to its board last week, which indicates that development of the headset is currently at an advanced stage, the sources say. The headset, which could be announced to the public \u201cwithin the next several months,\u201d is expected to be capable of both augmented and virtual reality, and will likely allow users to be immersed in a virtual world as well as overlay virtual elements onto their real worlds. It is reportedly expected to be released late this year or in 2023.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/apple\/\">Apple<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/davos\/\">Davos<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/dolphins\/\">Dolphins<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/for-your-commute\/\">FOR YOUR COMMUTE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n          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<div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/506.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"551041\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/murderville-puts-actors-on-the-spot-the-epl-wraps-up-today-catch-the-lion-king-musical-tomorrow-at-the-cairo-opera\/506-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/506.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"506.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/506.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/506.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551040\" class=\"content-area-description single-story post-551040 post type-post status-publish format-standard has-post-thumbnail hentry category-enterprise-recommends-2 tag-eat-this-tonight tag-enterprise-recommends tag-enterprisepm tag-on-the-tube-tonight tag-sports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>? <\/strong><strong>ON THE TUBE TONIGHT-<\/strong><\/p>\n<p>(all times CLT)<\/p>\n<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong><a href=\"https:\/\/www.netflix.com\/eg-en\/title\/81193104\">Murderville<\/a><\/strong><strong> is a hilarious new mini-series that sees actors enter a fictional murder<\/strong><strong> scene without a script: <\/strong>The six-episode Netflix series features Will Arnett \u2014 known for Arrested Development and Bojack Horseman \u2014 play the eccentric detective Terry Seattle. The show\u2019s premise is simple: Every episode there\u2019s a different crime and there are three suspects to investigate. However, each episode, Detective Seattle\u2019s sidekick changes, bringing on an actor or actress who will need to help solve the case. These sidekicks are given no script and have to improv their own plot as they go and try to play along with the rest of the scripted characters. The guest stars were perfectly picked to lead to maximum hilarity, with Conan O'Brien, Marshawn Lynch, Kumail Nanjiani, Annie Murphy, Sharon Stone, and Ken Jeong each bringing their best to the show.<\/p>\n<p><a id=\"tldr-story-05\" class=\"content-anchor\"><\/a> \u26bd <strong>The last rounds of the English Premier League: <\/strong>It has been a long and hard season full of unexpected surprises, and we\u2019re now reaching its last week with the champion still undetermined.<\/p>\n<p><strong>The heated competition is currently between Man City (90 points) and Liverpool (89 points). <\/strong>City is within a hair\u2019s breadth of victory, needing to beat Aston Villa with any result to seize the second consecutive league and the fourth in the last five seasons. But in the case of a tie or defeat for City, Liverpool could have a chance to snag the title when they meet Wolverhampton, which would give it the second league title in the era of Jurgen Klopp.<\/p>\n<p><strong>Who else is qualifying for the Champions League? <\/strong>Chelsea practically secured third place, leaving the struggle for the last qualifying seat for the Champions League between Tottenham (68 points) and Arsenal (66 points), who are currently ranked fourth and fifth. Spurs go out to face Norwich (who have officially been relegated), while Arsenal meets Everton, who already secured their survival in the league last week. We remind you that the top four teams in the EPL qualify for the UEFA Champions League.<\/p>\n<p><strong>The last drop: <\/strong>After Watford and Norwich were relegated to the second division, the last relegation ticket is still between Burnley (35 points; goal difference -18) and Leeds United (35 points; goal difference -38). Burnley will play against Newcastle while Leeds faces Brentford to decide their fate.<\/p>\n<p><strong>Today\u2019s matches are as follows, all starting at 5pm:<\/strong><\/p>\n<p>Manchester City x Aston Villa<\/p>\n<p>Liverpool x Wolverhampton<\/p>\n<p>Norwich x Tottenham<\/p>\n<p>Arsenal x Everton<\/p>\n<p>Brentford x Leeds<\/p>\n<p>Burnley x Newcastle<\/p>\n<p>Brighton x West Ham<\/p>\n<p>Chelsea x Watford<\/p>\n<p>Crystal Palace x Man United<\/p>\n<p>Leicester x Southampton<\/p>\n<p><strong>The Italian League will be decided tonight: <\/strong>Milan leads the Serie A (83 points) and only need to draw against Sassuolo to win its first title in 11 years. Its arch-rival Inter are only two points behind and could snatch their second successive scudetto if it wins against Sampdoria and Milan lose. If both teams finish level, Milan will take the title due to having a better head-to-head record. Both matches start at 6pm.<\/p>\n<p><strong>The Spanish League title may be predetermined for Real Madrid, but the struggle for third place is still fierce.<\/strong> Atl\u00e9tico Madrid third (68 points) meets Real Sociedad, while its rival Seville (67 points) plays Athletic Bilbao, at 10pm. At the same time, the Barcelona match against Villarreal begins.<\/p>\n<p><strong>In the Egyptian Premier League:<\/strong> Al Ismaily meets the National Bank at 4pm, while Ceramica Cleopatra will face Misr El Makasa and Al Masry meets Future, with both matches at 6:30pm. Finally, Al Ittihad plays against Pyramids at 9pm.<\/p>\n<p><strong>?EAT THIS TONIGHT- <\/strong><\/p>\n<p><strong>New Cairo\u2019s <\/strong><strong><a href=\"https:\/\/instagram.com\/umami.eg?igshid=YmMyMTA2M2Y=\">Umami<\/a><\/strong><strong> is inspired by the cuisines of the world:<\/strong> You can find anything from oriental breakfasts to delicious steak dishes at Garden 8\u2019s newest addition. For breakfast they offer a myriad of flavorful plates such as the sausage and egg skillet, a heaping bowl of belila, or some homemade feteer. Their main dishes are equally diverse and we recommend the short ribs risotto, the mushroom ragu, or the chicken muhammara. Don\u2019t miss out on their dessert offerings, especially their tiramisu and date cake.<\/p>\n<p>? <strong>OUT AND ABOUT-<\/strong><br \/>\n(all times CLT)<\/p>\n<p><a id=\"tldr-story-06\" class=\"content-anchor\"><\/a> <strong>TAM Gallery is hosting its <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/520206839511408\/520206962844729\/?active_tab=about\">Summer Affordable Art Show<\/a><\/strong> at their venue at District 5 in New Cairo (located on Ain El Sokhna road). The art show features over 150 contemporary Egyptian artists and the gallery is divided into sections based on artist and price range. The exhibition will run until 28 June.<\/p>\n<p><strong>Fabrica will be presenting its adaptation of the musical <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/s\/fabrica-presents-the-lion-king\/1011944092774915\/\">The Lion King<\/a><\/strong><strong> tomorrow at<\/strong><strong> the Cairo Opera at 8pm.<\/strong> The performance will bring to life one of Disney\u2019s best films, in our opinion, with the crew set to sing fan favorite songs such as Hakuna Matata, Can You Feel The Love Tonight, and Circle of Life, as well as Broadway Exclusives such as Shadowland and Endless Night.<\/p>\n<p><strong>? UNDER THE LAMPLIGHT-<\/strong><\/p>\n<p><strong>The lengths two New Yorkers went to in efforts to amass their fortune: <\/strong><a href=\"https:\/\/www.amazon.com\/Trust-Hernan-Diaz\/dp\/0593420314?&linkCode=sl1&tag=0512bestbooksmay-20&linkId=b056f04063b273b51201f86ff04fad81&language=en_US&ref_=as_li_ss_tl\">Trust<\/a> by Hernan Diaz follows the (fictional) story of Benjamin and Helen Rask, which dates back to the early 1900s, when the couple ruled the social scene. Benjamin is a Wall Street tycoon while Helen is the daughter of eccentric aristocrats, and together they created a life that many rumor is based on privilege and deceit. Diaz puts these competing narratives together to try to pick fact out of fiction and provide a realistic portrayal of their lives. However, that in no way means that their lives fall short of the gossip, with the novel dishing out juicy new revelations over the span of a century. The book is elegantly written and explores the reality-warping force of capital and the ease with which power can manipulate facts.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/eat-this-tonight\/\">Eat This Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-recommends\/\">Enterprise Recommends<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/on-the-tube-tonight\/\">On The Tube Tonight<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sports\/\">sports<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"551042\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"551042\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">GO WITH THE FLOW<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/earnings-watch-arabian-cement\/\">\r\n                            Earnings watch: Arabian Cement                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/earnings-watch-arabian-cement\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/earnings-watch-arabian-cement\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/earnings-watch-arabian-cement\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Earnings watch: Arabian Cement&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/earnings-watch-arabian-cement\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/earnings-watch-arabian-cement\/&title=Earnings watch: Arabian Cement\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Earnings+watch%3A+Arabian+Cement+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F05%2F22%2Fearnings-watch-arabian-cement%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/earnings-watch-arabian-cement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551042\" class=\"content-area-description single-story post-551042 post type-post status-publish format-standard hentry category-go-with-the-flow tag-arabian-cement tag-earnings-watch tag-egx tag-enterprisepm tag-go-with-the-flow wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>EARNINGS WATCH- <\/strong><\/p>\n<p><strong>Arabian Cement returned to the black in 1Q2022<\/strong>, with its bottom line recording EGP 58.85 mn during the quarter compared to net losses of EGP 6.33 mn in 1Q2021, according to the company\u2019s <a href=\"https:\/\/ent.news\/2022\/5\/Arabian-Cement-1Q2022.pdf\">financials (pdf)<\/a>. The company\u2019s sales rose 145% y-o-y to EGP 1.06 bn in 1Q2022.<\/p>\n<p><strong>MARKET ROUNDUP-<\/strong><\/p>\n<p><strong>The EGX30 fell 0.8% at today\u2019s close<\/strong> on turnover of EGP 364 mn (57.8% below the 90-day average). Regional investors were net sellers. The index is down 12.4% YTD.<\/p>\n<p><strong>In the green: <\/strong>EFG Hermes (+0.6%), Ibnsina Pharma (+0.4%) and Qalaa Holdings (+0.2%).<\/p>\n<p><strong>In the red: <\/strong>Orascom Construction (-4.0%), Cleopatra Hospitals (-3.3%) and Abu Qir Fertilizers (-2.3%).<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/arabian-cement\/\">Arabian Cement<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/earnings-watch\/\">earnings watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egx\/\">EGX<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/go-with-the-flow\/\">Go with the Flow<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<div class=\"alignfull inside-industry vertical-section wide-section wp-block-group issue-section\" id=\"551043\">\r\n    <div class=\"issue-section__content\">\r\n        <div class=\"alignwide wp-block-columns\">\r\n            <div class=\"wp-block-column sidebar-vertical-info\" style=\"flex-basis:22.8%\">\r\n                <figure class=\"wp-block-image size-full\">\r\n                                            <img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27470.svg\" style=\"width:80%\" alt=\"\" >\r\n                                    <\/figure>\r\n                <p>\r\n                    Our weekly look at the issues, trends, and policies that are shaping Egypt's manufacturing industries.                <\/p>\r\n                <figure class=\"wp-block-image size-full mt-0 mb-0 img-white-bg\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27477.svg\" alt=\"\"><\/figure>\r\n                <p class=\"has-text-color has-link-color\">\r\n                    Published every Sunday in EnterprisePM.                <\/p>\r\n                <div class=\"wp-block-buttons mt-0\">\r\n                    <div class=\"wp-block-button\">\r\n                        <a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/enterpriseam.com\/egypt\/inside-industry\/\">\r\n                            Read Inside Industry                            \r\n                        <\/a>\r\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column issue-section\">\r\n                <div class=\"story-section\">\r\n                    <div class=\"issue-story-header text-center\">\r\n                        <div class=\"index-number\">4<\/div>\r\n\r\n                        \r\n                        <h3 class=\"story-title\"><a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/as-egypt-moves-forward-with-its-import-substitution-strategy-what-sectors-are-in-focus-to-shift-to-local-manufacturing\/\">  \r\n                            As Egypt moves forward with its import substitution strategy, what sectors are in focus to shift to local manufacturing?<\/a>\r\n                        <\/h3>\r\n\r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/inside_industry\/as-egypt-moves-forward-with-its-import-substitution-strategy-what-sectors-are-in-focus-to-shift-to-local-manufacturing\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Since then, the Trade and Industry Ministry produced a list of sectors in which it is prioritizing domestic manufacturing to address local consumption needs, according to a <a href=\"https:\/\/ent.news\/2022\/5\/invest.pdf\">report (pdf)<\/a> based on a study of Egypt\u2019s total imported goods and services between 2017 and 2019 to focus on the biggest drains on our import bill.<\/p>\n<p><strong>The sector selection methodology rests on three pillars: <\/strong>The products chosen add value to the local industry, whether through inputs, a fully-finished product, or both; the products contribute significantly to the trade deficit; and they have potential for growth locally.<\/p>\n<p><strong>Caveats: <\/strong>The report doesn\u2019t specify a time frame for developing these sectors into local industries that become viable for import substitution, nor does it set expected investment values for these targets.<\/p>\n<p><strong>The targets of the strategy: <\/strong><strong>Cutting imports and simultaneously boosting exports.<\/strong> During 2021, Egypt\u2019s non-oil imports amounted to USD 76.8 bn while our non-oil exports fell short at USD 32.3, according to <a href=\"https:\/\/bit.ly\/3wD0ine\">Trade Ministry figures<\/a>. On the export side of the equation, Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">is aiming to<\/a> increase exports to USD 100 bn a year by 2025 as part of the government\u2019s plan to increase the private sector\u2019s role in the economy, Prime Minister Moustafa Madbouly said last week.<\/p>\n<p><strong>Out of >6.8k import categories, the ministry shortlisted 4.8k industrial categories that are viable for local manufacturing.<\/strong> These industrial categories cost us USD 60 bn in 2019 \u2014 or 85% of the year\u2019s total import bill (USD 72 bn). Of those, 855 categories each cost USD 10 mn or more, representing 74% of the total amount of imports in 2019.<\/p>\n<p><strong>NOT PART OF THE STRATEGY:<\/strong> Agricultural and livestock products, fuel and petroleum products, handicrafts, and raw materials from natural resources not available locally.<\/p>\n<p><strong>The government is targeting nine industries to start: <\/strong>Wood and furniture, engineering, food and agriculture, chemicals, textiles, pharma and medical, printing and packaging, building materials, and metallurgical industries. These priority investment areas have a combined 141 product categories under their umbrella which together accounted for 23% of our 2019 import bill, or c.USD 17 bn.<\/p>\n<p><strong>THE BREAKDOWN<\/strong><\/p>\n<p><strong>#1- The chemicals industry has the greatest number of investment areas specified<\/strong>, including pipes and hoses to a variety of chemical materials. Our chemicals imports cost USD 10.3 bn in 2021, but was also the heaviest contributor to exports at USD 6.8 bn. Within the sector, the government identified six complete products to manufacture (including epoxy, paints, and varnishes), 25 for components production (including polymers such as polycarbonates and polyethers as well as ink for printers), and three for both inputs and fully-finished products. Under the plan, the sector is slated for 14 greenfield and 18 brownfield areas of investment, while production of rubber transmission belts and tires will see both types of investments.<\/p>\n<p><strong>The focus on the chemicals industry could be a boon for the automotive industry, particularly as the government rolls out its <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4a483336-63e2-45b1-9cf1-d0eb0e8a42f4\">automotive strategy<\/a><\/strong>, by producing critical inputs such as lithium batteries (critical for electric vehicle production) and rubber vehicle parts. The strategy aims to increase local assembly, grow the component manufacturing industry, up the sector\u2019s competitiveness to become a regional manufacturing hub, and bolster export volumes. We\u2019re expecting to hear more about the automotive strategy <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/158188ff-65a9-4146-adc1-5f53c1a3f6e5\">by the end of the month<\/a>.<\/p>\n<p><strong>#2- The government is also eyeing growing the engineering sector \u2014 but much of it will be from scratch: <\/strong>With the second largest number of investment areas (21), the engineering sector is a big player in the import substitution plan. However, all investment areas will require greenfield investments, the report shows. Egypt aims to manufacture 10 complete products including mobiles, tablets, and broilers, along with 10 components (including door hinges and solar cell chips). The plan also eyes producing complete products and components for electric motors. In 2021, engineering imports accounted for the lion\u2019s share of imports at USD 22 bn, compared to USD 3.4 bn of exports.<\/p>\n<p><strong>LOOKING AHEAD- Egypt could expand into manufacturing the less complex variety of semiconductors such as those that go into household appliances<\/strong> including fridges and microwaves, a source from the electronics industry that asked to be off the record told Enterprise. These foundries require less capital expenditure and technical expertise and Egypt could become a regional hub for their manufacturing, the source added.<\/p>\n<p><strong>#3- Similarly, the building materials and metallurgical sector needs greenfields to expand: <\/strong>From stainless steel to metal plates, the sector will see components manufactured for all six product categories, with greenfield investments required across the categories. Imports for the sector reached USD 11.4 bn in 2021, while exports stood at USD 6.6 bn, accounting for the second-largest contributor to both imports and exports during the year.<\/p>\n<p><strong>#4- Pharma and medical: <\/strong>The sector will also need new investments to begin manufacturing diagnostics equipment, raw materials for meds, and oncology meds. The delta between pharma and medical exports and imports was significant last year, with exports recording USD 692 mn compared to imports of USD 5.12 bn.<\/p>\n<p><strong>#5- In the food and agriculture sector<\/strong>, the government is targeting introducing facilities to increase agricultural products such as dates, dried fruits, and dried onions while expanding their production of medicinal and aromatic oils, as well as dairy products. Several of these products contribute to Egypt\u2019s export revenues: Dates exports, for example, brought in EGP 52 mn in 2021, <a href=\"https:\/\/bit.ly\/3wkYgb1\">increasing 21% y-o-y<\/a>.<\/p>\n<p><strong>#6-9- Packaging and printing <\/strong>will need new investments for all areas while the <strong>textile industry <\/strong>is the only sector that exclusively requires brownfields, with these two sectors <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b38fc8cc-9d5a-4fdc-9436-6392a911e4bb\">contributing the most<\/a> to Egypt\u2019s 1Q2022 export revenues. Finally, <strong>wood manufacturing <\/strong>will see increased MDF and plywood production.<\/p>\n<p><strong>WATCH THIS SPACE- A new council headed by the trade ministry was formed <\/strong><strong><a href=\"https:\/\/bit.ly\/3sKQBRd\">last November<\/a><\/strong><strong> and <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/263272525843175\">tasked<\/a><\/strong><strong> with laying out steps to encourage investments<\/strong> in the specified sectors with input from investors and will also set up partnerships with the private sector. Several other ministries will also be included in the council discussions including the housing, planning, finance, transport, military production, and public enterprises ministries. The Federation of Egyptian industries has also set up a committee with the same aims that met for the first time last Monday to further discuss the import substitution strategy in light of the current global market conditions, head of the committee, Bassim Youssef, told Enterprise.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top industrial development stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>The Consumer Protection Agency <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8cae3060-d4f6-40d6-bd40-68db01d5c511\">is considering<\/a><\/strong><strong> whether to raise the price cap on cars by 5-10%<\/strong> after distributors and dealers made an official request in light of rising operating costs.<\/li>\n<li><strong>Canal Sugar Company gets EGP 12.5 bn syndicated loan for sugar beet factory:<\/strong> Canal Sugar Company has secured loans worth EGP 12.5 bn from a consortium of 10 banks to help finance its USD 1 bn sugar beet <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44c54e20-6e5a-4111-b133-d963ae09ddbc\">processing facility<\/a> in West Minya.<\/li>\n<li><strong>IT infrastructure contractor Benya Group <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/998ae088-0400-47f2-85dd-761a55f95112\">to set up<\/a><\/strong><strong> an investment arm in Saudi Arabia<\/strong> by the end of the year while longer term plans also see the company eyeing Africa growth through DR Congo.<\/li>\n<\/ul>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/import-substitution-strategy\/\">import substitution strategy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/manufacturing\/\">Manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n                    <\/div>\r\n                <\/div>\r\n            <\/div>\r\n            <div class=\"wp-block-column\" style=\"flex-basis:19.8%\"><\/div>\r\n        <\/div>\r\n    <\/div>\r\n<\/div>\n<section id=\"551045\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/551045\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-551045\" class=\"content-area-description single-story post-551045 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> CALENDAR<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>OUR CALENDAR NOW APPEARS in two sections: <\/strong><\/p>\n<ul>\n<li><strong>Events with specific dates or months <\/strong>are right here up top<\/li>\n<li><strong>Events happening in a quarter or other range of time <\/strong>with no specific date \/ month appear at the bottom of the calendar.<\/li>\n<\/ul>\n<p><strong>MAY<\/strong><\/p>\n<p>13-22 May (Friday-Sunday): <a href=\"https:\/\/psaworldtour.com\/tournaments\/view\/11748\">PSA World Championships<\/a>, Cairo.<\/p>\n<p>Mid-May: The <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0ECwZ4gxDh1BtFhSLpuSQNm8u9sYEbLw5o2eDJ4Y4L7AfCuAe2nMM7VfrR8qBiqnul\">trial period to extend<\/a> the Advance Cargo Information (ACI) system to air freight.<\/p>\n<p>22-26 May (Sunday-Thursday): Davos 2022.<\/p>\n<p>23 May (Monday): Lynx Strategic Business Advisors are hosting a <a href=\"https:\/\/us06web.zoom.us\/webinar\/register\/WN_inx2czHRSL-yHqfPUINunw\">webinar titled \u201cIntroducing Egypt&#39;s New E-Receipt System.\u201d<\/a><\/p>\n<p>23-24 May (Monday-Tuesday): The International Conference on Alternative Financing Opportunities in Egypt \u2026 Towards Sustainable Financing for Development, Marriott Hotel, Zamalek.<\/p>\n<p>25 May (Wednesday): The <a href=\"https:\/\/bit.ly\/36oOWst\">deadline for<\/a> private companies to pre-register ahead of bidding for the second phase of the PPP national project to establish and operate 1k language schools.<\/p>\n<p>25-26 May: (Wednesday-Thursday): Fintech gathering FIN Expo Egypt is taking place at Intercontinental Citystars, Cairo, Egypt.<\/p>\n<p>27 May-3 June (Friday-Friday): El Gouna International Squash Open 2022.<\/p>\n<p>30-31 May (Monday-Tuesday): <a href=\"https:\/\/www.facebook.com\/Moemigegy\/posts\/pfbid024Z27xPXYWTVC1sjCzbUQ4qKX7bWwAg6oyZmpTEuGod2WG9DP5UVXa3gtfqmaAtZAl\">Egypt Can with Industry<\/a>, Cairo, Egypt.<\/p>\n<p>31 May (Tuesday): Last day for EGX-listed companies to file 1Q2022 earnings<\/p>\n<p>31 May (Tuesday): The <a href=\"https:\/\/itida.gov.eg\/English\/Programs\/Export-IT%20Rebate%20Program%202017\/Pages\/default.aspx\">application deadline<\/a> for ITIDA\u2019s annual Export IT program.<\/p>\n<p>31 May (Tuesday): Extended deadline for EGX-listed companies to disclose 1Q 2021 earnings.<\/p>\n<p>May: Investment in Logistics Conference, Cairo, Egypt.<\/p>\n<p>May: General Authority for Land and Dry Ports to issue the conditions booklet for the tender to establish and operate the Tenth of Ramadan dry port.<\/p>\n<p>May: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0tVd7vrVPiU1s4stMEz9YPim2puqtZxge29MGM49x8JBSycpYkwUwAKhAyHpdmdcnl?_rdc=2&_rdr\">to sign contracts for<\/a> second and third high-speed rail lines with Siemens by the end of the month.<\/p>\n<p>May: Government to announce its automotive strategy by the end of the month.<\/p>\n<p><strong>JUNE<\/strong><\/p>\n<p>1-4 June (Wednesday-Saturday): The Islamic Development Bank will hold its <a href=\"https:\/\/www.isdb.org\/news\/the-arab-republic-of-egypt-to-host-2022-annual-meetings-of-islamic-development-bank-group-in-sharm-el-sheikh\">2022 annual meetings<\/a> in Sharm El Sheikh.<\/p>\n<p>5-7 June (Sunday-Tuesday): <a href=\"https:\/\/www.africahealthexcon.com\/\">Africa Health ExCon<\/a>, Al Manara International Conference Center, Egypt International Exhibitions Center, and the St. Regis Almasa Hotel, New Administrative Capital.<\/p>\n<p>5 June (Sunday): GB Auto is hosting an <a href=\"https:\/\/ent.news\/2022\/5\/GB-Auto-10-05-2022.pdf\">extraordinary general assembly meeting (pdf)<\/a>.<\/p>\n<p>7 June (Tuesday): Technology conference <a href=\"https:\/\/www.eventbrite.com\/e\/tech-invest-4-tickets-338929546397\">Tech Invest 4<\/a> will take place at the Grand Nile Hotel in Cairo.<\/p>\n<p>9 June (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>14-15 June (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>15-18 June (Wednesday-Saturday): <a href=\"https:\/\/forumspb.com\/en\/\">St. Petersburg International Economic Forum<\/a> (SPIEF), St. Petersburg.<\/p>\n<p>16 June (Thursday): End of 2021-2022 academic year for public schools.<\/p>\n<p>21-22 June (Tuesday-Wednesday): <a href=\"https:\/\/www.facebook.com\/MFAEgypt\/posts\/298129062496947\">Aswan Forum for Sustainable Peace and Development<\/a>, Cairo.<\/p>\n<p>23 June (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>27 June-3 July (Monday-Sunday): World University Squash Championships, New Giza.<\/p>\n<p>30 June (Thursday): June 30 Revolution Day, national holiday.<\/p>\n<p>30 June (Thursday): Deadline for bids for National Democratic Party HQ redevelopment contract.<\/p>\n<p>June: Egypt will <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/390172846486475\">launch a unified ticketing system<\/a> for all means of transport at the Adly Mansour Interchange Station.<\/p>\n<p>June: Polish President Andrzej Duda will visit Egypt to coordinate ways to ship Ukrainian wheat to Egypt amid the war in Ukraine.<\/p>\n<p><strong>JULY<\/strong><\/p>\n<p>July: A law governing ins. for seasonal contractors will come into effect.<\/p>\n<p>July: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>1 July (Friday): FY 2022-2023 begins.<\/p>\n<p>1 July (Friday): Official rollout of e-receipt system begins.<\/p>\n<p>8 July (Friday): Arafat Day.<\/p>\n<p>9-13 July (Saturday-Wednesday): Eid Al Adha, national holiday.<\/p>\n<p>21 July (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>26-27 July (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>30 July (Saturday): Islamic New Year.<\/p>\n<p>Late July - 14 August: 2Q2022 earnings season.<\/p>\n<p><strong>AUGUST<\/strong><\/p>\n<p>August: Work to extend the capacity of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a67dcca-de16-4313-b330-60fc1a21e6db\">Egypt-Sudan electricity interconnection<\/a> to 600 MW to be completed.<\/p>\n<p>18 August (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>SEPTEMBER<\/strong><\/p>\n<p>September: Egypt will display its first naval exhibition with the title <a href=\"https:\/\/bit.ly\/3lshDZX\">Naval Power<\/a>.<\/p>\n<p>September: Central Bank of Egypt\u2019s Innovation and Financial Technology Center to launch incubator for 25 fintech startups.<\/p>\n<p>8 September (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>18 September (Sunday): Deadline for brokerage firms, asset managers and financial advisors <a href=\"https:\/\/alborsaanews.com\/2022\/04\/06\/1527896\">to register<\/a> with the Egyptian Securities Federation.<\/p>\n<p>20-21 September (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>22 September (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>26&ndash;27 September (Monday-Tuesday): The <a href=\"https:\/\/www.awieforum.org\/\">Africa Women Innovation and Entrepreneurship Forum (AWIEF)<\/a> at the Cairo Marriott Hotel.<\/p>\n<p><strong>OCTOBER<\/strong><\/p>\n<p>October: World Bank and IMF annual meetings in Washington, DC<\/p>\n<p>October: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p>1 October (Saturday): Use of Nafeza <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/381373340699759\">becomes compulsory<\/a> for air freight.<\/p>\n<p>6 October (Thursday): Armed Forces Day, national holiday.<\/p>\n<p>8 October (Saturday): Prophet Muhammad\u2019s birthday, national holiday.<\/p>\n<p>18-20 October(Tuesday-Thursday): Mediterranean Offshore Conference, Alexandria, Egypt.<\/p>\n<p>27 October (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>Late October - 14 November: 3Q2022 earnings season.<\/p>\n<p><strong>NOVEMBER<\/strong><\/p>\n<p>November: Cairo Water Week 2022.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>3 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>4-6 November: The <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition kicks off at the Cairo International Exhibition and Convention Center.<\/p>\n<p>7-18 November (Monday-Friday): Egypt will host <a href=\"https:\/\/sdg.iisd.org\/events\/2021-un-climate-change-conference-unfccc-cop-27\/\">COP 27<\/a> in Sharm El Sheikh.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p><strong>JANUARY 2023<\/strong><\/p>\n<p>January EGX-listed companies and non-bank lenders will submit ESG reports for the first time.<\/p>\n<p>January: Fuel pricing committee meets to decide quarterly fuel prices.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/p>\n<p>1H2022: Target date for IDH to close its acquisition of 50% of Islamabad Diagnostic Center.<\/p>\n<p>1H2022: e-Finance\u2019s digital healthcare service platform, eHealth, will launch its services.<\/p>\n<p>1H2022: The government will respond to private companies\u2019 bids to build desalination plants.<\/p>\n<p>1H2022: Egypt\u2019s second corporate green bond issuance expected to be announced.<\/p>\n<p>14 March-30 June: The \u201cEscape to Egypt\u201d exhibition at the <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02TyfzyKQdaqZmXvT1e3FuyPe3vSpn55zshBzfPbVExM3BR7KTZ3Geb6QVSsHa2S5Nl\">Coptic Museum<\/a>, in celebration of its 112th anniversary.<\/p>\n<p>2Q2022: The Sovereign Fund of Egypt will invest in two companies in the financial inclusion and non-banking financial services sectors.<\/p>\n<p>End of 2Q2022: The Financial Regulatory Authority\u2019s new Ins. Act should be approved.<\/p>\n<p>End of 2Q2022: Door for bidding for the contract to redevelop the site of the former National Democratic Party HQ to close.<\/p>\n<p>End of 1H2022: Emirati industrial company M Glory Holding and the Military Production Ministry will begin the mass production of dual fuel pickup trucks that can run on natural gas.<\/p>\n<p>2H2022: The inauguration of the Grand Egyptian Museum.<\/p>\n<p>2H2022: <a href=\"https:\/\/www.ief.org\/news\/egypt-to-host-8th-ief-igu-ministerial-gas-forum-in-2022\">IEF-IGU Ministerial Gas Forum<\/a>, Egypt. Date + location TBA.<\/p>\n<p>2H2022: The government will have vaccinated 70% of the population.<\/p>\n<p>3Q2022: Ayady\u2019s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release its first financing product.<\/p>\n<p>End of 2022: e-Aswaaq\u2019s tourism platform will complete the roll out of its ticketing and online booking portal across Egypt.<\/p>\n<p>2023: Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/380561820780911\">will host<\/a> the Asian Infrastructure Investment Bank\u2019s Annual Meeting of the Board of Governors in 2023.<\/p>\n<p><strong>**Note to readers:<\/strong> Some national holidays may appear twice above. Since 2020, Egypt has observed most mid-week holidays on Thursdays regardless of the day on which they fall and may also move those days to Sundays. We distinguish above between the actual holiday and its observance.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":551034,"template":"","categories":[],"tags":[],"class_list":["post-551033","afternoon","type-afternoon","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"b16dc73e-2efe-4ba7-86b2-43139e898bf9","teaser":"","photo_url":"https:\/\/ent.news\/2022\/5\/61.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Where the government wants to develop our manufacturing chops - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/where-the-government-wants-to-develop-our-manufacturing-chops\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where the government wants to develop our manufacturing chops\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/afternoon\/where-the-government-wants-to-develop-our-manufacturing-chops\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-15T23:14:35+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/61.jpg?fit=%2C&ssl=1\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/where-the-government-wants-to-develop-our-manufacturing-chops\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/afternoon\/where-the-government-wants-to-develop-our-manufacturing-chops\/\",\"name\":\"Where the government wants to develop our manufacturing chops - 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