{"id":550364,"date":"2022-10-25T04:01:07","date_gmt":"2022-10-25T04:01:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=550364"},"modified":"2025-12-15T22:59:51","modified_gmt":"2025-12-15T22:59:51","slug":"the-saudi-pif-enters-the-egyptian-pharma-sector-with-eipico-stake-buy","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/the-saudi-pif-enters-the-egyptian-pharma-sector-with-eipico-stake-buy\/","title":{"rendered":"The Saudi PIF enters the Egyptian pharma sector with EIPICO stake buy"},"content":{"rendered":"<section id=\"550366\" 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=\"550366\">\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're Tracking Today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/this-morning-its-the-third-and-final-day-of-the-states-econ-conference\/\">\r\n                            THIS MORNING: It\u2019s the third and final day of the state\u2019s econ conference                        <\/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\/10\/25\/this-morning-its-the-third-and-final-day-of-the-states-econ-conference\/\" 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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we have coverage of yesterday\u2019s discussions as well as a rundown on what you can expect today.<\/p><p><strong>ALSO: Today could see both a partial solar eclipse \u2014 and a sprinkle of rain<\/strong> (in Alex) and thunderstorms (in the capital city).<\/p><p><strong>BUT FIRST- We\u2019re intensely grateful for the torrent of email and messages still coming in about our <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/feeda831-c0fd-43df-b197-08ddb74254e7\">five-step plan to build a new Egyptian economy based on exports and FDI<\/a><\/strong><strong>. <\/strong>Folks much smarter than we are have been exceptionally positive about the idea \u2014 and we\u2019ve been delighted by the thoughtfulness of those who have offered comments, ideas, and criticism. Please keep it coming \u2014 we\u2019ll have more soon.<\/p><p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>The queen of night-time talk loves the idea: <\/strong>Lamees El Hadidy (the smartest person on the airwaves when it comes to business and the economy) supports building an export- and FDI-driven economy. She told her viewers in a segment last night: \u201c[Egypt is in] an important geographic location, an area with a huge market. We can slash red tape and build a new business climate. <strong>We need to move fast and choose five or six industries to focus on\u2026<\/strong> It\u2019s an easy recipe, even though it may be a tough one to cook. They\u2019re saying it in the media, they\u2019re saying it in Enterprise, everywhere. <strong>If other countries have done it, there\u2019s no reason why we can\u2019t<\/strong>.\u201d (<a href=\"https:\/\/www.youtube.com\/watch?v=26iuVBe4ZYY&amp;t=201s\">watch, runtime: 8:21<\/a>).<\/p><p><strong>And thank you to the wonderful Mohamed Abu Basha for reminding everyone of the <\/strong><strong>importance of <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38b5c211-3fe1-45e2-be08-432520c4f43a\">targeting specific industries<\/a><\/strong><strong> in the pursuit of FDI: <\/strong>\u201cFocusing on specific sectors and specific companies that already exist in Egypt, but aren\u2019t incentivized to expand, is key,\u201d EFG Hermes\u2019 Abu Basha said during the conference, adding that now is the <strong>perfect moment to capture a piece of the global supply chain<\/strong> that is up for grabs amid a worldwide economic realignment.<\/p><p><strong>HAPPENING TODAY-<\/strong><\/p><p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Day 3 of the economic conference is all about industry: <\/strong>Finance Minister Mohamed <strong>Maait<\/strong>, CBE governor Hassan <strong>Abdalla<\/strong>, and Trade and Industry Minister Samir <strong>Saleh<\/strong> will lead discussions on how to drive industrial investment, develop national industries, and address the financing gap for manufacturers, as well as solutions to recent import troubles.<\/p><p><strong>Prime Minister Moustafa Madbouly will then chair the closing session,<\/strong> where he will share the outcomes of the conference and is expected to make some economic policy announcements.<\/p><p><strong>There may also be a chance we\u2019ll see a new (and final?) draft today of the state <\/strong><strong>ownership policy<\/strong>, which we had been told to expect at the gathering, but which has yet to land. More on that below.<\/p><p><strong>It\u2019s the biggest day of the Gas Exporting Countries Forum<\/strong>: Ministers from the 19 member countries will meet in Cairo today for the final day of the annual meetings of the <a href=\"https:\/\/www.gecf.org\/24th-ministerial-meeting.aspx\">Gas Exporting Countries Forum<\/a>.<\/p><p><strong>Davos in the Desert starts today<\/strong>: Saudi Arabia will host its annual Future Investment Initiative (FII) starting today, with more than 400 US delegates set to attend despite tensions between Riyadh and Washington over oil production, according to <a href=\"https:\/\/www.reuters.com\/business\/saudi-forum-set-draw-us-business-leaders-despite-tensions-2022-10-23\/\">Reuters<\/a>. This year\u2019s edition will see major representation by top Wall Street executives as well as business leaders.<\/p><p><strong>Riyadh wants a piece of the global supply chain that we\u2019re chasing.<\/strong> As we noted yesterday in <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/af478392-b4e6-45f5-912f-3d4445011463\">Enterprise Climate<\/a>, the Saudi government has launched a new drive to attract bns of USD of supply chain investment as it tries to position itself as a future transport and logistics hub. Riyadh wants to draw an initial SAR 40 bn (USD 10.6 bn) from investors and will offer SAR 10 bn in incentives, state news agency <a href=\"https:\/\/www.spa.gov.sa\/viewstory.php?lang=ar&amp;newsid=2394656\">SPA<\/a> reported Sunday. The initiative will see it establish new special economic zones, it said.<\/p><hr class=\"grey-line\"><p><strong>PSA #1- Dust off your goggles for a partial solar eclipse in Cairo today: <\/strong>The moon will cover up more than a third of our view of the sun today at 12 noon CLT, peaking at 1:09pm CLT, according to <a href=\"https:\/\/bit.ly\/3MZSySE\">the National Institute for Astronomical and Geophysical Research<\/a>. <strong>And remember:<\/strong> Be like <a href=\"https:\/\/cdn.trendhunterstatic.com\/thumbs\/solar-eclipse-glasses.jpeg?auto=webp\">this<\/a>. Not like <a href=\"https:\/\/i.insider.com\/599b2f38f1a850c42a8b6180?width=1136&amp;format=jpeg\">this<\/a>.<\/p><p><strong>PSA #2- Then again \u2014 storm clouds could cover the moon that covers the sun\u2026 <\/strong>Our favorite weather app says there\u2019s a risk of thunderstorms in Cairo throughout the day today (particularly in the afternoon), while the national weather service is <a href=\"https:\/\/www.facebook.com\/ema.gov.eg\/posts\/pfbid02Ubwv36nVkNDXMYy59YshYMRUnTmjjUk9bz5BkmgAuMroRexMzw3sBH4JasHVszBEl\">saying<\/a> there\u2019s a 40% chance that rain in the north of the country could spread to the capital by the evening.<\/p><p><strong>PSA #3- There are new versions of macOS and iPadOS to download this morning<\/strong>, weeks after iOS 16 rolled out on iPhones.<\/p><p><strong>What do they offer? <\/strong><a href=\"https:\/\/www.apple.com\/newsroom\/2022\/10\/macos-ventura-is-now-available\/\">The Ventura version of<\/a><strong><a href=\"https:\/\/www.apple.com\/newsroom\/2022\/10\/macos-ventura-is-now-available\/\">macOS<\/a><\/strong> includes Stage Manager (we don\u2019t see many Mac users adopting it, tbh), but the continuity camera and FaceTime handoff features look cool. There are also new features in Mail and Reminders, a redesigned (and renamed) System Preferences and more. <strong><a href=\"https:\/\/www.apple.com\/newsroom\/2022\/10\/ipados-16-is-available-today\/\">iPadOS 16.1<\/a><\/strong> also offers Stage Manager, which brings (almost-real) windowing to iPads for the first time. It\u2019s still not perfect, but that alone makes it worth the upgrade.<\/p><p><strong>Should you download them? <\/strong>They cost nothing and you get Stage Manager on your iPad, so yeah, this is a no-brainer. Both have proven stable for us over the past several hours of pretty intense use and include new security features.<\/p><p><strong>How do you get them?<\/strong><\/p><ul>\n<li><strong>On your Mac:<\/strong> Go to the Apple menu in the top left corner. Go to System Settings and then select Software Update.<\/li>\n<li><strong>On your iPad: <\/strong>Settings &gt; General &gt; Software Update.<\/li>\n<\/ul><p><strong>Tip: You\u2019ll need to turn on Stage Manager on your iPad:<\/strong> Settings &gt; Home Screen &amp; Multitasking and then toggle Stage Manager at the bottom.<\/p><p><strong>UPCOMING NEWS TRIGGERS-<\/strong><\/p><p><strong>Egypt and the UAE will <\/strong><strong><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0gKn5z3nuZiF3rVVxhgVD5AaDXHkH4X4bj7L1b3cvYGKcbV5u98c99ivMradBERDgl\">host a three-day gathering<\/a><\/strong><strong> starting tomorrow to mark 50 years of <\/strong><strong>bilateral ties.<\/strong> Day one is an economic forum featuring ministers, senior officials and business leaders from the two countries.<\/p><p><strong>An IMF delegation <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/548df8a6-46d5-4604-89fe-ceac80080b93\">will land in Cairo<\/a><\/strong><strong> in the first week of November to continue loan talks<\/strong>, Jihad Azour, the IMF\u2019s director for the Middle East and Central Asia, said earlier this week.<\/p><p><strong>THE BIG STORY ABROAD-<\/strong><\/p><p><strong>Sunak will be the UK\u2019s new prime minister: <\/strong>Former UK Chancellor Rishi Sunak should be confirmed as the UK\u2019s next prime minister today, after he won the race to lead the country\u2019s Conservative Party. Sunak will be tasked with setting the government\u2019s budget to rights, after former PM Liz Truss came close to crashing the pensions market with her ill-fated mini-budget. (<a href=\"https:\/\/apnews.com\/article\/british-politics-rishi-sunak-penny-mordaunt-europe-london-8e621dc1a9415eedc080cdfbd2d41754?utm_source=homepage&amp;utm_medium=TopNews&amp;utm_campaign=position_01\">AP<\/a> | <a href=\"https:\/\/www.reuters.com\/world\/uk\/sunak-looks-set-become-next-uk-pm-after-johnson-quits-race-2022-10-24\/\">Reuters<\/a> | <a href=\"https:\/\/www.bloomberg.com\/news\/live-blog\/2022-10-24\/uk-tories-vote-for-new-leader?srnd=premium-europe\">Bloomberg<\/a> | <a href=\"https:\/\/www.ft.com\/content\/f88e3e2a-0f58-49f8-ba68-a176ddaf8add\">FT<\/a>)<\/p><p><strong>Financial markets cheered the news:<\/strong> UK bonds rallied yesterday on expectations of Sunak\u2019s victory, with short-term yields falling the most since 1993, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-24\/uk-bonds-surge-with-sunak-as-frontrunner-in-leadership-race?srnd=premium-middle-east\">Bloomberg<\/a> reports.<\/p><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<\/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    <\/p><\/div>\n<\/div>\n<\/div><p><strong>COUNTDOWN TO COP (<\/strong><strong>12<\/strong><strong> days to go)- <\/strong><\/p><p><strong>Shaping up to be the #1 hot-button issue at COP27: Loss and damage money <\/strong>from developed to developing nations to compensate them for the impacts of climate change. The US is ok with talking about loss and damages, but less keen on actually paying for them, <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/a6f7312b-72d2-48ff-a146-fdb1cbad3579\">Enterprise Climate<\/a> reports this morning.<\/p><p><strong>ALSO- Coverage of COP is driving the conversation on Egypt in the international press <\/strong>as we note in this morning\u2019s Egypt in the News column, below. The foreign media is continuing to highlight activists\u2019 concerns about getting their voices heard at the summit. Scroll on for more.<\/p><p><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p><p><strong>Enroot Development is hosting a conference titled <\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/436637188402429\/\">Empowering the South: Green<\/a><\/strong><strong><a href=\"https:\/\/www.facebook.com\/events\/436637188402429\/\">Economies and Climate Resilience<\/a><\/strong> tomorrow at the Greek Campus. Speakers at the conference include former deputy prime minister Ziad Bahaa El Din, UN High-level Climate Champion for Egypt Mahmoud Mohieldin, and International Cooperation Minister Rania Al Mashat. You can <a href=\"https:\/\/forms.gle\/1dfEn9TaQFP7UqRD6\">register for the event here<\/a>.<\/p><p><strong>German development agency GIZ Egypt will host a <\/strong><strong>festival<\/strong><strong> for medicinal and <\/strong><strong>aromatic plants<\/strong> at Fayoum\u2019s Helnan Auberge hotel on Thursday and Friday, according to a <a href=\"https:\/\/web.facebook.com\/GIZEgypt\/photos\/a.205233312988581\/2276663545845537\/?type=3&amp;theater\">statement<\/a>. Over 70 exhibitors will be in attendance. Register for the event <a href=\"https:\/\/docs.google.com\/forms\/u\/1\/d\/1Gm5eDzWEbcLYk5MmSn5LycQKAh1puh_EzFKCH4eJ1gc\/viewform?ts=63357768&amp;fbclid=IwAR17-NNLY_pI49L1o6N9AglhziGp4HXflHT_bk-ugptautOW0KChtSLDCBk&amp;edit_requested=true\">here<\/a>.<\/p><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><p class=\"web-image\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/INFINITY-Top-banner-EN-1600x675-v2-02.png?ssl=1\" alt=\"enterprise\"><\/p><p><strong>*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s 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.<\/p><p><strong>In today\u2019s issue: <\/strong>We sat down with Mohamed Hegazy, UN climate champion team member and director of urban transit research and consultancy firm Transport for Cairo (TfC).<\/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\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/efg-hermes\/\">EFG Hermes<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/fdi\/\">FDI<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/solar-eclipse\/\">Solar eclipse<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/uk\/\">UK<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/what-were-tracking-today\/\">What We&#039;re Tracking Today<\/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=\"550367\" 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=\"550367\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/550367\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550367\" class=\"content-area-description single-story post-550367 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:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/2cellos2_1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><strong>2CELLOS \u2014 LIVE AT SOMABAY on 18 November, 2022:<\/strong> Mark your calendars \u2014 world-renowned and wildly popular cellist duo, 2CELLOS will be performing at Somabay on 18 November, 2022. Having racked up a bn-plus audio streams, countless sold-out concerts, and mns of fans across the globe in their 10 years together as 2CELLOS, the Croatian duo of Luka &Scaron;uli\u0107 and HAUSER will be visiting Egypt in their long-awaited 2022 Dedicated World Tour. Book your ticket now: <a href=\"https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html\">https:\/\/www.ticketsmarche.com\/tickets\/buy-tickets-2-cellos.html<\/a>. Call us 16390.<\/p>\n\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=\"550368\" 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=\"550368\">\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\">Economy<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/plenty-of-privatization-industry-talk-on-day-2-of-the-egypt-economic-conference-2022\/\">\r\n                            Plenty of privatization + industry talk on day 2 of the Egypt Economic Conference 2022                        <\/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\/10\/25\/plenty-of-privatization-industry-talk-on-day-2-of-the-egypt-economic-conference-2022\/\" 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 government has amended about 30% of the document after receiving feedback from private sector representatives through public consultations, including adding and clarifying the position of the state towards some 68 sub-sectors in its privatization plans.<\/p>\n<p><strong>\u201cNearly\u201d final?<\/strong> Prime Minister Moustafa Madbouly <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9cad4496-55ac-4ba8-841f-4aff2a56e5ee\">said last month<\/a> that the government had finalized the document and would unveil it at the conference. Cabinet spokesman <a href=\"https:\/\/www.youtube.com\/watch?v=oat5_v341ME\">Nader Saad said<\/a> earlier this week that <strong>the final version of the document could be unveiled on the conference\u2019s last day<\/strong> (that\u2019s today) after being discussed at the event yesterday.<\/p>\n<p><strong>Refresher: <\/strong>The state ownership policy document details the government\u2019s plan to more than double the private sector\u2019s role in the economy to 65% over the next three years, and attract USD 40 bn in investment over the next four years. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">document<\/a> outlines the industries which the government plans to open up to private companies and the ringfenced strategic sectors which will continue to see heavy state involvement. The new privatization drive came following the economic crisis triggered by the war in Ukraine and during talks with the IMF for a new loan program.<\/p>\n<p><strong>State VC firm u<\/strong><strong>p for grabs? <\/strong>The International Cooperation Ministry is looking to exit its venture capital arm, <a href=\"https:\/\/egyptventures.com\/\">Egypt Ventures<\/a>, and plans to offer it to international financial institutions, International Cooperation Minister Rania Al Mashat said yesterday, according to <a href=\"https:\/\/www.asharqbusiness.com\/article\/43235\">Bloomberg Asharq<\/a>. The firm was established by the ministry, the Saudi Fund for Development, and NI Capital in 2017.<\/p>\n<p><strong>INDUSTRIAL STRATEGY IN 3 MONTHS?<\/strong><\/p>\n<p><strong>The government wants to work with the private sector to establish an industrial development strategy within three months<\/strong>, Prime Minister Moustafa Madbouly said during yesterday\u2019s session on the state ownership policy document. The strategy would cover the next decade, he said, without disclosing further details.<\/p>\n<p><strong>We need to do more to boost Egypt\u2019s investment climate + credibility, experts say: <\/strong>\u201cWe do need to place specific timeframes for all applications for industrial projects across all sectors, regardless of whether or not they are eligible for the <a href=\"https:\/\/enterprise.press\/industries\/enterprise-explains-golden-licenses-for-industry\/\">golden license<\/a>, because that boosts credibility,\u201d Planning Minister Hala El Said said.<\/p>\n<p><strong>Dr. Hala was responding to criticism from industry insiders on long approval processes<\/strong>, which they say can be off-putting to investors who are looking for a clear project execution timeline before they pour their money into a project.<\/p>\n<p><strong>Should the SFE and the MPE become one? <\/strong>Another suggestion from experts was to clarify or merge the roles of the Sovereign Fund of Egypt and the Public Enterprises Ministry to ensure policy continuity. Both own state assets and are involved in the company\u2019s state privatization plans.<\/p>\n<p><strong>THE SFE\u2019S ROLE IN BOOSTING PRIVATE SECTOR INVOLVEMENT-<\/strong><\/p>\n<p><strong>The state IPO program is alive and well, but the EGX has taken a hit: <\/strong>\u201cThere have been three years of exceptional circumstances that have hit the EGX hard,\u201d Madbouly said, adding that this is why \u201cwe have to be careful when choosing the right moment for state IPOs.\u201d The government, however, is taking this time to do its due diligence, and value state assets appropriately, he added. \u201cWe are preparing a list of more assets to put up for sale [...] including greenfield projects for the SFE to own and exit,\u201d he said.<\/p>\n<p><strong>That\u2019s why we have the pre-IPO fund: <\/strong>\u201cOur state IPO program has faced delays because of the global circumstances, which have meant that share prices on the EGX do not reflect their real value, which is why we\u2019ve set up the pre-IPO fund to prepare for a better time for these listings,\u201d El Said said. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eaa81cae-e4e2-4c66-963d-b806c4ed812b\">pre-IPO<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/eaa81cae-e4e2-4c66-963d-b806c4ed812b\">fund<\/a> is aimed at preparing state-owned enterprises for listing on the EGX.<\/p>\n<p><strong>But there is a way forward even in crappy market conditions: <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/96431341-1d12-4f5b-ae38-6047887bf679\">Follow Abu Dhabi\u2019s lead.<\/a><\/strong><\/p>\n<p><strong>But we\u2019re still waiting on some names:<\/strong> Assets worth up to USD 3bn \u2014 including shares currently held by the National Investment Bank \u2014 should be transferred to the fund by early November, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dde844b6-73f3-4d2f-8c09-d8a084b5720d\">El Said said<\/a> previously. A second similar sized phase will follow. One of three Siemens-built power plants has<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03d92997-1040-4166-8a3e-4393f4bcc739\">reportedly already been transferred<\/a> to the fund ahead of a sale.<\/p>\n<p><strong>COMPETITIVE NEUTRALITY-<\/strong><\/p>\n<p><strong>The Egyptian Competition Authority (ECA) is working on developing a <\/strong><strong>competitive neutrality index<\/strong> through which it can measure the success of its strategy to promote and enforce competitive neutrality, ECA Chairman Mahmoud Momtaz said. This comes as part of the government\u2019s efforts to encourage fair competition, which include a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/376e7a71-78ad-4b6d-98fe-c906d4eb2e4b\">dedicated ministerial committee<\/a> helmed by Prime Minister Moustafa Madbouly. Momtaz didn\u2019t provide any details on how the index would work.<\/p>\n<p><strong>New regulators could make their entry, while the ECA could get sharper teeth:<\/strong> Amendments to boost the authority of the ECA are in \u201cadvanced stages\u201d in parliament, Kouchouk said, adding that the government wants to establish more regulators that can help ensure fair competition, such as an <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/69a333e7-9848-43ac-bff4-717a4c97f3e9\">intellectual property authority<\/a>.<\/p>\n<p><strong>REMEMBER-<\/strong> Legal changes that would give the ECA the power to reject mergers and acquisitions were <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3582805e-b867-4076-9e5e-bff71e01f886\">being discussed in the House<\/a> last year, but were never put to a final vote in the general assembly.<\/p>\n<p><strong>ON <\/strong><strong>INCENTIVES-<\/strong><\/p>\n<p><strong>The government wants to offer more incentives for foreign companies to outsource their digital ops to Egypt: <\/strong>The Communications Ministry plans to restructure incentives to foreign companies to get them to set up shop or export their digital operations here, Communications Minister Amr Talaat <a href=\"https:\/\/gate.ahram.org.eg\/News\/3761489.aspx\">said<\/a> in a session, without providing details on the planned incentives.<\/p>\n<p><strong>Residency for foreign property owners on the table? <\/strong>The government is looking into introducing a scheme that would grant foreigners long-term Egyptian residency permits if they invest in property here, Madbouly <a href=\"https:\/\/www.asharqbusiness.com\/article\/43240\">said<\/a>. Conference participants had called for the introduction of a Turkey-style <a href=\"https:\/\/www.france24.com\/en\/europe\/20221001-citizenship-for-the-rich-demand-rises-for-golden-passports\">citizenship by investment<\/a> scheme to help boost FX inflows.<\/p>\n<p><strong>ON THE EGP- <\/strong><\/p>\n<p><strong>New currency derivatives in the works: <\/strong>New currency derivatives are expected to be ready within months to allow investors to hedge against the risk of further currency depreciation, FRA chief Mohamed Farid said yesterday. The central bank could allow onshore non-deliverable forwards (NDFs) and options, Bloomberg <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d4e1310-8476-4983-bf26-83593b2f6167\">previously reported<\/a>, saying the move would bring more transparency to expectations of EGP movement and protect local companies against major fluctuations if the country moves towards greater currency flexibility.<\/p>\n<p><strong>ON EGX TRADING- <\/strong><\/p>\n<p><strong>A trader in every family: <\/strong>We need to change the culture around trading to encourage retail investors, EGX boss Rami El Dokany said, adding that digital onboarding and fintech has made it possible to attract new age brackets to the EGX. \u201cWe hope to see an EGX trader in every Egyptian household, especially among younger people,\u201d he said.<\/p>\n<p><strong>The main issue the market is currently facing is a lack of liquidity<\/strong> which brings share prices down, El Dokany said. State-owned companies can boost liquidity by investing \u2014 especially ins. companies and social ins. funds, he added. \u201cIf these companies start funding a big part of daily trading on the EGX, prices will differ greatly,\u201d he added.<\/p>\n\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\/ahmed-kouchouk\/\">Ahmed Kouchouk<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egypt-economic-conference\/\">Egypt Economic Conference<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-competition-authority\/\">Egyptian Competition Authority<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/industry\/\">industry<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/sovereign-fund-of-egypt\/\">Sovereign Fund of Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-ipo-program\/\">state IPO program<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-ownership-policy-document\/\">State ownership policy document<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/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=\"550370\" 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=\"550370\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/saudi-wealth-fund-acquires-minority-stake-in-eipico\/\">\r\n                            Saudi wealth fund acquires minority stake in EIPICO                        <\/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\/10\/25\/saudi-wealth-fund-acquires-minority-stake-in-eipico\/\" 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 Public Investment Fund (PIF) reportedly purchased some 4.7 mn shares from Dubai-based asset manager Saray Capital for more than EGP 140 mn via its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/358b6591-3db7-4fa1-bb2f-de2e69e31cc8\">newly-established Egypt investment arm<\/a>, the sources said. Representatives of EIPICO declined to comment on the transaction when we reached out yesterday.<\/p>\n<p><strong>This is the the PIF\u2019s second acquisition in Egypt\u2019s pharma space:<\/strong> The fund has been building a position in Rameda Pharma this year, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d183b0b5-6e15-4503-a9da-566a821f9732\">acquiring more than 11%<\/a> of the company in several transactions since March.<\/p>\n<p><strong>Who owns what: <\/strong>The Arab Company for Drug Industries and Medical Appliances (ACDIMA) holds 49.99% of EIPICO\u2019s 99.17 mn shares, while minority shares are divided between the Medical Professions Union (5.18%), Africa Alpha Fund (5.09%), the PIF (4.7%). The remaining shares are freefloat.<\/p>\n<p><strong>They may not be done yet:<\/strong> The PIF plans to acquire a larger share of the company, Al Mal quotes its sources as saying.<\/p>\n<p><strong>Why buy? Shares are cheap: <\/strong>EIPICO shares have fallen almost 30% since the start of the year, underperforming the EGX30, which is down 13.6% year-to-date. This extends a long-term decline in the company\u2019s share price \u2014 it has lost more than 75% of its value since the beginning of 2018.<\/p>\n<p><strong>And the fundamentals are holding up:<\/strong> An Al Ahly Pharos research note in May projected that EIPICO\u2019s revenues would grow nearly 17% this year on the back of a rebound in the pharma market and price hikes made last year. Revenues rose 12% y-o-y to EGP 1.7 bn <a href=\"https:\/\/ent.news\/2022\/10\/EIPICO-Consolidated-Financial-Position-1H-2022.pdf\">during the first half of the year (pdf)<\/a>, driving a 29% increase in its bottom line, which reached EGP 304.4 mn.<\/p>\n<p><strong>Spending spree:<\/strong> Since setting up the Saudi Egyptian Investment Company (SEIC) in August, the PIF <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\">has<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/316415e5-ccc3-42ca-b442-80dd3b8b2e16\">acquired<\/a> sizeable stakes in e-Finance (25%), Misr Fertilizers Production Company (25%), Alex Containers (20%), Abu Qir (19.82%), and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/22b78d62-86d0-4331-878e-0da58c84ce0a\">retailer BTECH<\/a> (34%). It has also been linked to a number of other companies in the domestic press, including the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3eb67451-ed3d-459b-ae82-b9a6756d29f5\">Alexandria Mineral Oil Company<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7ef0109-f72e-4b5c-a44d-005328a1c284\">EgyptAlum<\/a>, and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7ef0109-f72e-4b5c-a44d-005328a1c284\">Egyptian Media Production City<\/a>. The investment drive is part of a USD 22 bn package of financial support being offered by Gulf allies to help Egypt\u2019s economy through the economic crisis sparked by the war in Ukraine.<\/p>\n<p><strong>TOLIP BIDS FOR SHARM HOTEL<\/strong><\/p>\n<p><strong>Military-owned <\/strong><strong><a href=\"https:\/\/tolip-eg.com\/\">Tolip Hotels and Resorts<\/a><\/strong><strong> has <\/strong><strong>submitted an initial offer to acquire the five-star <\/strong><strong><a href=\"https:\/\/stelladimare.com\/beach-hotel-spa\/\">Stella Di Mare Beach Hotel<\/a><\/strong><strong> in Sharm<\/strong> El Sheikh for EGP 700 mn from tourism developer <a href=\"https:\/\/remcogroup.net\/\">Remco\u2019s<\/a> subsidiary Scandinavian Company for Investments and Tourism Development, Remco said in <a href=\"https:\/\/ent.news\/2022\/10\/Tolip-wants-to-acquire-Stella-Sharm-from-Remco.pdf\">a disclosure (pdf)<\/a> to the bourse yesterday. The offer is being considered and will be presented to the board of directors, the company added.<\/p>\n<p><strong>Remco already has ties with the Stella brand:<\/strong> The EGX-listed developer built the Stella Di Mare 2 project in Ain El Sokhna <a href=\"https:\/\/enterprise.press\/stories\/2016\/12\/04\/remco-partners-with-armed-forces-on-egp-3-bn-stella-di-mare-2-project\/\">in partnership<\/a> with the Armed Forces.<\/p>\n<p><em>Correction: 25 October 2022<\/em><\/p>\n<p><em>A previous version of this story incorrectly stated that this is the Public Investment Fund\u2019s first acquisition in Egypt\u2019s pharma sector. <\/em><\/p>\n\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\/eipico\/\">Eipico<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/hospitality\/\">hospitality<\/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\/pharma\/\">pharma<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/remco-group\/\">Remco Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/tolip\/\">Tolip<\/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=\"550372\" 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=\"550372\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/550372\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550372\" class=\"content-area-description single-story post-550372 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:\/\/b2gcop27.moharrampartners.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/MP-COP27-Meeting-Enterprise-Web-Size-1.png?ssl=1\" alt='enterprise'><\/a><\/p>\n\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=\"550373\" 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=\"550373\">\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\">LEGISLATION WATCH<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/river-transport-bill-gets-initial-nod-from-parliament\/\">\r\n                            River transport bill gets initial nod from parliament                        <\/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\/10\/25\/river-transport-bill-gets-initial-nod-from-parliament\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img 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data-attachment-id=\"550374\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/river-transport-bill-gets-initial-nod-from-parliament\/326-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/326.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"326.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/326.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/326.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550373\" class=\"content-area-description single-story post-550373 post type-post status-publish format-standard has-post-thumbnail hentry category-legislation-watch tag-enterpriseam tag-legislation-watch tag-privatization-policy tag-river-transport wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>We could see more private sector players taking to the nation\u2019s rivers <\/strong>after the House gave preliminary approval to amendments modernizing a 1956 law regulating river transport. The <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/39204dde-baac-417c-8e5d-5308cdda01d6\">amendments<\/a> would put the <a href=\"http:\/\/www.rta-egypt.gov.eg\/ar\/default\">River Transport Authority (RTA)<\/a> in charge of all things inland navigation and draw up a development plan for the nation\u2019s inland waterways with more private sector participation.<\/p>\n<p><strong>The amendments would charge the RTA with issuing navigation licenses for boats<\/strong>, and see it take over from the Irrigation Ministry to issue licenses for the establishment, operation and management of ports and docks. Licensing measures are set to be streamlined under the RTA, which would offer a one-stop shop through which private sector players can set up companies to manage, operate, and maintain boats, floating units, and cruise ships. Fees for river transport services and the use of river ports would be changed to reflect inflation.<\/p>\n<p><strong>\u201c<\/strong><strong>This sector should be a magnet for private investors<\/strong> and a major source of income to the state treasury,\u201d read a report by the House\u2019s Transport Committee.<\/p>\n<p><strong>What\u2019s next?<\/strong> The bill will be up for a final vote in a future session.<\/p>\n<p><strong>REST OF THE WEEK IN THE HOUSE-<\/strong><\/p>\n<ul>\n<li><strong>Today: <\/strong>The House will vote on amendments that would <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc7ed706-068f-4c32-8633-c684cc37efbd\">lower the age<\/a> of national ID issuance to 15 from 16.<\/li>\n<li><strong>Tomorrow: <\/strong>Health Minister Khaled Abdel Ghaffar will answer MPs\u2019 questions regarding the state of public hospitals, our new health ins. system, and our population growth, among other topics.<\/li>\n<li><strong>Also tomorrow: <\/strong>The House Education Committee will discuss the Education Minister\u2019s decision to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/df0a870c-afca-4057-9b14-79bb0ddcc694\">license private tutoring centers.<\/a> <\/li>\n<\/ul>\n\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\/legislation-watch\/\">Legislation Watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/privatization-policy\/\">Privatization policy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/river-transport\/\">River transport<\/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=\"550375\" 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=\"550375\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/550375\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550375\" class=\"content-area-description single-story post-550375 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:\/\/www.sodic.com\/'><img decoding=\"async\" data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/Sodic-25_EXPERIENCES_1600px.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n\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=\"550376\" 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=\"550376\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">LAST NIGHT\u2019S TALK SHOWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/day-2-of-the-economic-conference-wataniya-safi-to-do-stake-sales-not-ipos-by-years-end\/\">\r\n                            Day 2 of the economic conference + Wataniya \/ Safi to do stake sales (not IPOs) by year\u2019s end                        <\/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\/10\/25\/day-2-of-the-economic-conference-wataniya-safi-to-do-stake-sales-not-ipos-by-years-end\/\" target=\"_blank\">\n                    Open in new tab   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<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=Day+2+of+the+economic+conference+%2B+Wataniya+%2F+Safi+to+do+stake+sales+%28not+IPOs%29+by+year%E2%80%99s+end+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F25%2Fday-2-of-the-economic-conference-wataniya-safi-to-do-stake-sales-not-ipos-by-years-end%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\/10\/25\/day-2-of-the-economic-conference-wataniya-safi-to-do-stake-sales-not-ipos-by-years-end\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550376\" class=\"content-area-description single-story post-550376 post type-post status-publish format-standard hentry category-last-nights-talk-shows tag-economic-conference tag-enterpriseam tag-ipo-watch tag-last-nights-talk-shows tag-state-privatization-program wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><strong>The economic conference took over the talk shows for the second night running. <\/strong>Day two of the conference was all about the state ownership policy and bringing the private sector into the fold. We have the full rundown in today\u2019s Economy section, above.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>A clarification on the Wataniya \/ Safi timeline: <\/strong>Military-owned filling station <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7e9e5e71-1bbb-4cb4-a470-efcb60e3d219\">Wataniya and bottled water company Safi<\/a> won\u2019t make their EGX debuts this year but will see a private stake sale before year end, Sovereign Fund of Egypt CEO Ayman Soliman told Kelma Akhira (<a href=\"https:\/\/www.youtube.com\/watch?v=BH4GQtxryU4\">watch, runtime: 9:25<\/a>). The market is motivated and awaiting the IPOs, but after such a long wait people have high expectations, he added.<\/p>\n<p><strong>\u201cWe are working to push the private sector into investing,\u201d <\/strong>Soliman said. \u201cWe are an emerging market, we don't have an abundance of capital, and the private sector has many success stories and a lot of capability,\u201d he added.<\/p>\n<p><strong>Economic reforms are all-inclusive: <\/strong>\u201cOne of the biggest components to any economic reform program locally or internationally is to have all market players involved in the reform process,\u201d FRA chief Mohamed Farid told Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=Ew2VjxWVP-U\">watch, runtime: 11:00<\/a>).<\/p>\n<p><strong>More coverage: <\/strong>The state ownership policy will set out a clear vision for developing the private sector, Vice Minister of Finance Ahmed Kouchouk told Masaa DMC (<a href=\"https:\/\/www.youtube.com\/watch?v=MlCdORPd3ZU\">watch, runtime: 13:13<\/a>). Ala Mas\u2019ouleety briefed us on Sunday\u2019s session by <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/442d26fb-adde-475d-8498-8d6bb7b2edd3\">CBE officials<\/a> promising a new currency index comparing the EGP to a basket of currencies (<a href=\"https:\/\/www.youtube.com\/watch?v=Dm9ypwyIHEU\">watch, runtime: 21:39<\/a>). Meanwhile, CIB head Sherif Samy joined Hadret Al Mowaten to weigh in on the privatization policy (<a href=\"https:\/\/www.youtube.com\/watch?v=edAUfNyx6Qo\">watch, runtime: 18:26<\/a>).<\/p>\n\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\/economic-conference\/\">Economic conference<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ipo-watch\/\">IPO watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/last-nights-talk-shows\/\">LAST NIGHT\u2019S TALK SHOWS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/state-privatization-program\/\">state privatization program<\/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=\"550377\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">      \r\n<section id=\"advertiser\" class=\"enterprise-adv issue-section\">\r\n    <div class=\"issue-section__content\" style=\"flex-direction: column;\">\r\n  \r\n                <h4 class=\"wp-block-heading has-text-align-center has-normal-font-size\">\r\n                <span class=\"has-primary-color stk-highlight\">This publication is proudly sponsored by<\/span><\/h4>\r\n                \r\n\r\n                \r\n                <div class=\"wp-block-stackable-carousel alignwide stk-block-carousel stk--is-slide stk--infinite-scroll stk--arrows-justify-space-between stk--arrows-align-center stk-block stk-a38cfb2 sponsor-slider-container mb-0\" data-slides-to-show=\"3\" data-block-id=\"a38cfb2\"><style>.stk-a38cfb2 {--slides-to-show:3 !important;}.stk-a38cfb2 .stk-block-carousel__button{background:#00000099 !important;fill:#FFFFFF !important;border-radius:4px !important;}.stk-a38cfb2 .stk-block-carousel__button svg.ugb-custom-icon :is(g, path, rect, polygon, ellipse){fill:#FFFFFF !important;}<\/style>\r\n                <div class=\"stk-block-carousel__content-wrapper\">\r\n                <div class=\"stk-row stk-inner-blocks stk-block-content stk-block-carousel__slider-wrapper stk-content-align stk-a38cfb2-column alignwide\">\r\n                <div class=\"stk-block-carousel__slider\" role=\"list\" data-autoplay=\"4000\" data-label-slide-of=\"Slide %%d of %%d\">\r\n            <div class=\"wp-block-stackable-column stk-block-column stk-column stk-block stk-46c5f99\" data-v=\"4\" 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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=\"550378\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">EGYPT IN THE NEWS<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/egypt-in-the-news-more-cop-criticism\/\">\r\n                            Egypt in the News: More COP criticism                        <\/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\" 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href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/egypt-in-the-news-more-cop-criticism\/&title=Egypt in the News: More COP criticism\">\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=Egypt+in+the+News%3A+More+COP+criticism+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F25%2Fegypt-in-the-news-more-cop-criticism%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\/10\/25\/egypt-in-the-news-more-cop-criticism\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550378\" class=\"content-area-description single-story post-550378 post type-post status-publish format-standard hentry category-egypt-in-the-news tag-civil-society tag-coca-cola tag-cop27 tag-enterpriseam tag-ziad-el-eleimy wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> I<strong>t\u2019s all COP27 all the time in the pages of the international press this morning.<\/strong> The topic du jour is (unsurprisingly) complaints from activists. <a href=\"https:\/\/www.theguardian.com\/environment\/2022\/oct\/24\/egypt-shuts-down-event-spaces-on-first-monday-of-cop27-in-blow-to-ngos\">The Guardian<\/a> has grumbling about the reported cancellation of first-day, non-negotiating events as world leaders descend on Sharm. <a href=\"https:\/\/www.reuters.com\/business\/environment\/egypt-cop27-climate-summit-activists-concerned-voices-will-be-curtailed-2022-10-24\/\">Reuters<\/a>, meanwhile, has activists saying they won\u2019t have the same freedom to protest and take part in event as they\u2019ve had in past host countries.<\/p>\n<p><strong>Activists are also complaining about corporate sponsors of COP27<\/strong>, with the <a href=\"https:\/\/apnews.com\/article\/science-middle-east-egypt-africa-united-nations-4dbf745994e13401bf848c5ebb3f8d18\">Associated<\/a><a href=\"https:\/\/apnews.com\/article\/science-middle-east-egypt-africa-united-nations-4dbf745994e13401bf848c5ebb3f8d18\">Press<\/a> picking up on the flack that <a href=\"https:\/\/twitter.com\/COP27P\/status\/1575469176835170304\">Coca-Cola<\/a> as been taking.<\/p>\n<p><strong>Take this with a grain of salt: <\/strong>We don\u2019t like <a href=\"https:\/\/www.breakfreefromplastic.org\/brandaudit2021\/\">plastic pollution<\/a>, but think that it\u2019s important that corporate voices be heard at COP. What\u2019s more: Can you imagine the [redacted] we\u2019d all be taking if business didn\u2019t step up to help cover the costs of COP?<\/p>\n<p><strong>The bottom line: <\/strong>What Coke (and Egypt) is dealing with now is <a href=\"https:\/\/earthjournalism.net\/stories\/climate-activists-protest-the-presence-of-plastic-producers-at-cop26\">exactly what Unilever<\/a> (<a href=\"https:\/\/www.no-burn.org\/unileveroutofcop\/\">and the<\/a><a href=\"https:\/\/www.no-burn.org\/unileveroutofcop\/\">UK<\/a>) dealt with <a href=\"https:\/\/twitter.com\/emma_priestland\/status\/1458438022391898113\">last year<\/a>. This story has legs, but it\u2019s not the dominant narrative on COP. Activists are playing their part in the climate debate \u2014 and we need to let businesses play their role, too.<\/p>\n<p><strong>A pre-COP facelift:<\/strong> Volunteers have cleaned the seabed and beaches in Sharm El Sheikh, a few weeks before thousands of climate negotiators, politicians and NGOs descend on the seaside town for the climate summit. (<a href=\"https:\/\/www.africanews.com\/2022\/10\/24\/volunteers-remove-plastic-waste-from-egypts-beach-ahead-of-cop27\/\">Africa News<\/a>)<\/p>\n<p><strong>More presidential pardons:<\/strong> President Abdel Fattah El Sisi has pardoned lawyer and former MP Ziad El Eleimy. El Eleimy, a prominent opposition figure during the 2011 revolution, was sentenced to five years in prison in November for spreading misinformation. (<a href=\"https:\/\/www.reuters.com\/world\/middle-east\/egypts-sisi-orders-release-jailed-former-mp-activist-zyad-elelaimy-2022-10-24\/\">Reuters<\/a> | <a href=\"https:\/\/abcnews.go.com\/International\/wireStory\/egypt-releases-politician-latest-prisoner-pardon-92008091\">AP<\/a>)<\/p>\n<p><strong>AND- Major international fashion brands <\/strong>are hosting shows in Egypt. (<a href=\"https:\/\/www.al-monitor.com\/originals\/2022\/10\/international-fashion-shows-land-egypt\">Al Monitor<\/a>)<\/p>\n\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\/civil-society\/\">civil society<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/coca-cola\/\">Coca-Cola<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/ziad-el-eleimy\/\">Ziad El Eleimy<\/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=\"550379\" 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=\"550379\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/novartis-will-allow-a-local-manufacturing-of-leukemia-med-network-international-could-ramp-up-competition-in-egypts-pos-space\/\">\r\n                            Novartis will allow a local manufacturing of leukemia med + Network International could ramp up competition in Egypt\u2019s PoS space                        <\/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\/10\/25\/novartis-will-allow-a-local-manufacturing-of-leukemia-med-network-international-could-ramp-up-competition-in-egypts-pos-space\/\" 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\/10\/25\/novartis-will-allow-a-local-manufacturing-of-leukemia-med-network-international-could-ramp-up-competition-in-egypts-pos-space\/')\">\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\/10\/25\/novartis-will-allow-a-local-manufacturing-of-leukemia-med-network-international-could-ramp-up-competition-in-egypts-pos-space\/\">\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=Novartis will allow a local manufacturing of leukemia med + Network International could ramp up competition in Egypt\u2019s PoS space&url=https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/novartis-will-allow-a-local-manufacturing-of-leukemia-med-network-international-could-ramp-up-competition-in-egypts-pos-space\/\">\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\/10\/25\/novartis-will-allow-a-local-manufacturing-of-leukemia-med-network-international-could-ramp-up-competition-in-egypts-pos-space\/&title=Novartis will allow a local manufacturing of leukemia med + Network International could ramp up competition in Egypt\u2019s PoS space\">\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=Novartis+will+allow+a+local+manufacturing+of+leukemia+med+%2B+Network+International+could+ramp+up+competition+in+Egypt%E2%80%99s+PoS+space+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2022%2F10%2F25%2Fnovartis-will-allow-a-local-manufacturing-of-leukemia-med-network-international-could-ramp-up-competition-in-egypts-pos-space%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\/10\/25\/novartis-will-allow-a-local-manufacturing-of-leukemia-med-network-international-could-ramp-up-competition-in-egypts-pos-space\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550379\" class=\"content-area-description single-story post-550379 post type-post status-publish format-standard hentry category-also-on-our-radar tag-adq tag-al-dar-properties tag-also-on-our-radar tag-enterpriseam tag-gems tag-investment-watch tag-ma-watch tag-raya-holding wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a><strong> L<\/strong><strong>eukemia meds could be produced locally in Egypt: <\/strong>Pharma giant Novartis signed a licensing agreement allowing local manufacturers in seven countries to make the oral medicine Nilotinib, which is used to treat chronic myeloid leukemia, according to a <a href=\"https:\/\/medicinespatentpool.org\/news-publications-post\/mpp-signs-licence-agreement-to-increase-access-to-nilotinib-for-the-treatment-of-chronic-myeloid-leukaemia\">statement<\/a> by <a href=\"https:\/\/medicinespatentpool.org\/who-we-are\/about-us\">Medicines Patent Pool<\/a> released last week. The list of countries also includes Morocco and Tunisia.<\/p>\n<p><strong>ALSO- <\/strong>Emirati payments firm <strong>Network International<\/strong> plans to establish a company in Egypt that will provide point-of-sale services to merchants. (<a href=\"https:\/\/bit.ly\/3TSmEKe\">Al Mal<\/a>)<\/p>\n<p><strong>MEANWHILE- Abu Dhabi gov\u2019t-backed entities eyeing a stake in GEMS: <\/strong>A consortium including Abu Dhabi sovereign fund ADQ and Aldar Properties is looking to acquire a stake in global private school operator GEMS Education, unnamed sources reportedly told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-24\/abu-dhabi-consortium-said-to-weigh-bid-for-gems-education-stake?sref=mmeFTDW1\">Bloomberg<\/a>. Last month the business newswire reported that CVC Capital Partners and Sunny Varkey <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/168c04f9-ccc9-44fc-9c35-4022818a49ab\">are looking to sell<\/a> their stakes in GEMS in a transaction that would value the company at up to USD 6 bn.<\/p>\n<p><strong>Don\u2019t get it twisted:<\/strong> GEMS Education is a global operator. Egypt Education Platform (EEP) is the rebranded GEMS Education Egypt, the Egyptian management company that was set up to manage the four GEMS schools initially established in Egypt under a joint venture between EFG Hermes and GEMS.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>The<strong> environment and local<\/strong> <strong>development ministries<\/strong> inaugurated a EGP 165 mn <strong>solid waste recycling plant<\/strong> with a daily capacity of 640 tons in Dakahlia. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0kctYCypY483ijN4HDhHeT5Mf7jc32HbnVrkK1nyEGPGmGcEve5LgDSaPM5iEQd4Jl\">Statement<\/a>)<\/li>\n<li><strong>Raya Holding for Financial Investments<\/strong> has become the sole owner of its subsidiary <strong>Haier Raya Electric<\/strong> following an EGP 47.7 mn acquisition of 10.3% of the company. (<a href=\"https:\/\/ent.news\/2022\/10\/Raya-Holding.pdf\">Disclosure, pdf<\/a>)<\/li>\n<\/ul>\n<ul>\n<li>The <strong><a href=\"https:\/\/aelceg.com\/about-us\/\">American & Egyptian Company for Lebanese Herbs<\/a><\/strong> plans to <strong>invest <\/strong><strong>EGP 100 mn <\/strong>to increase production here. (<a href=\"https:\/\/bit.ly\/3FcvUVq\">Al Mal<\/a>)<\/li>\n<\/ul>\n\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\/adq\/\">ADQ<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/al-dar-properties\/\">Al Dar Properties<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/gems\/\">GEMS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/investment-watch\/\">investment watch<\/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\/raya-holding\/\">Raya Holding<\/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=\"550380\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"550381\" 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=\"550381\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">8<\/div>\r\n\r\n                    <p class=\"f-graphik\">PLANET FINANCE<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/foreign-investors-respond-negatively-to-chinas-political-pivot\/\">\r\n                            Foreign investors respond negatively to China\u2019s political pivot                        <\/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\/10\/25\/foreign-investors-respond-negatively-to-chinas-political-pivot\/\" 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 Nasdaq index tracking Chinese firms, the Golden Dragon Index, saw a record one-day drop, closing down 14.4%, the <a href=\"https:\/\/www.ft.com\/content\/1dff4b82-151d-4689-900a-5d968837faa8\">FT<\/a> writes. Foreign investors are worried that checks and balances on the Chinese president were weakened when he stacked the leadership with loyalists at this week\u2019s party congress, giving rise to a greater risk of conflict with the US that could damage China\u2019s economy.<\/p><p><strong>PMIs flash recession in Europe + UK:<\/strong><\/p><ul>\n<li><strong>Business activity in the eurozone dropped to its lowest level in nearly two years in October<\/strong>, indicating that the region is entering a recession as prices rise and economic production falls, according to the <a href=\"https:\/\/www.pmi.spglobal.com\/Public\/Home\/PressRelease\/69da0f1b541b49248204687d563c3e26\">S&amp;P Global flash purchasing managers\u2019 index (pdf)<\/a>.<\/li>\n<li><strong>Activity in the UK service sector fell at its fastest rate since January 2021<\/strong>, according to its <a href=\"https:\/\/www.pmi.spglobal.com\/Public\/Home\/PressRelease\/54d3febbae644c6abc295fc48954d147\">PMI (pdf)<\/a>, confirming \u201cthe UK\u2019s economic recessionary status in the last quarter of the year.\u201d<\/li>\n<\/ul><div class=\"stock-ticker-panel\">\n<table class=\"table stock-ticker-table table-striped markets-table\">\n<tbody>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>10,321<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -13.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.62<\/p>\n<\/td>\n<td>\n<p>Sell 19.73<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 19.65<\/p>\n<\/td>\n<td>\n<p>Sell 19.71<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-none\">\n<td class=\"td-list-none\">\n<p><svg class=\"e-icon e-TypeMarkets\"><use xlink:href=\"#e-TypeMarkets\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>11.25% deposit<\/p>\n<\/td>\n<td>\n<p>12.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>12,075<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: +7.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>10,068<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +18.6%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,377<\/p>\n<\/td>\n<td>\n<p>-0.6% (YTD: +5.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&amp;P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>3,799<\/p>\n<\/td>\n<td>\n<p>+1.2% (YTD: -20.5%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,014<\/p>\n<\/td>\n<td>\n<p>+0.6% (YTD: -5.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Euro Stoxx 50<\/strong><\/p>\n<\/td>\n<td>\n<p>3,528<\/p>\n<\/td>\n<td>\n<p>+1.5% (YTD: -17.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 93.26<\/p>\n<\/td>\n<td>\n<p>-0.3%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 5.18<\/p>\n<\/td>\n<td>\n<p>-0.4%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-up\">\n<td class=\"td-list-up\">\n<p><svg class=\"e-icon e-TypeMarkets11\"><use xlink:href=\"#e-TypeMarkets11\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,656.70<\/p>\n<\/td>\n<td>\n<p>+0.2%<\/p>\n<\/td>\n<\/tr>\n<tr class=\"tr-row-down\">\n<td class=\"td-list-down\">\n<p><svg class=\"e-icon e-TypeMarkets1\"><use xlink:href=\"#e-TypeMarkets1\"><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 19,347<\/p>\n<\/td>\n<td>\n<p>-1.0% (YTD: -58.2%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div><p><strong>THE CLOSING BELL-<\/strong><\/p><p><strong>The EGX30 rose 0.6% at yesterday\u2019s close<\/strong> on turnover of EGP 1.2 bn (15.4% above the 90-day average). Regional investors were net sellers. The index is down 13.6% YTD.<\/p><p><strong>In the green: <\/strong>Eastern Company (+4.6%), Alexandria Container and Cargo Handling (+3.7%) and Egypt Kuwait Holding-EGP (+3.1%).<\/p><p><strong>In the red: <\/strong>Rameda Pharma (-5.2%), Telecom Egypt (-2.9%) and GB Auto (-2.6%).<\/p><p><strong>Shares in China are under selling pressure again this morning<\/strong> while the Nikkei, Kospi and ASX are all in the green. Futures suggest shares in Europe and on Wall Street will face selling pressure at the opening bell later today.<\/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\/china\/\">China<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/economy\/\">economy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/europe\/\">Europe<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/financial-markets\/\">Financial Markets<\/a>\n                <!-- 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               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=Enterprise+talks+to%3A+Mohamed+Hegazy%2C+UN+climate+champion+team+member+and+director+of+Transport+for+Cairo+https%3A%2F%2Fenterpriseam.com%2Fegypt%2Fgoinggreens%2Fenterprise-talks-to-mohamed-hegazy-un-climate-champion-team-member-and-director-of-transport-for-cairo%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>                    <\/div>\r\n\r\n                    <div class=\"story__body\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/enterprise-talks-to-mohamed-hegazy-un-climate-champion-team-member-and-director-of-transport-for-cairo\/\">\r\n                            <div class=\"photo photo--above\">\r\n                                <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/327.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" sizes=\"(max-width: 34.9rem) calc(100vw - 2rem), (max-width: 53rem) calc(8 * (100vw \/ 12)), (min-width: 53rem) calc(6 * (100vw \/ 12)), 100vw\" data-attachment-id=\"550383\" data-permalink=\"https:\/\/enterpriseam.com\/egypt\/goinggreens\/enterprise-talks-to-mohamed-hegazy-un-climate-champion-team-member-and-director-of-transport-for-cairo\/327-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/327.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"327.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/327.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/327.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                            <\/div>\r\n                        <\/a>\r\n                        \n<article id=\"post-550382\" class=\"content-area-description post-550382 goinggreen type-goinggreen status-publish has-post-thumbnail hentry tag-climate tag-cop27 tag-enterprise-going-green tag-enterpriseam tag-mohamed-hegazy tag-transport tag-transport-for-cairo wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a> <strong>An interview with Mohamed Hegazy, UN climate champion team member and <\/strong><strong>director of urban transit research and consultancy firm <\/strong><strong><a href=\"https:\/\/transportforcairo.com\/\">Transport for Cairo<\/a><\/strong><strong> (TfC): <\/strong>As a strategic advisory consultancy, TfC has been using its knowledge creation, data, toolkits, and research as an activist consultancy to champion the cause of sustainable mobility in emerging cities for years.<\/p>\n<p><strong>We spoke with founder and director of the firm, Mohamed Hegazy<\/strong> (<a href=\"https:\/\/www.linkedin.com\/in\/momomtaz\/\">LinkedIn<\/a>) about what it has in store for COP27 and his role in the <a href=\"https:\/\/climatechampions.unfccc.int\/\">UN climate champions team<\/a>\u2014 a group working alongside Dr. Mahmoud Mohieldin to advance the climate agenda at the summit and deliver the goals of the Paris Agreement.<\/p>\n<p>Below are edited excerpts of our conversation:<\/p>\n<p><strong>ENTERPRISE: Tell us what TfC has in store for COP27.<\/strong><\/p>\n<p><strong>MOHAMED HEGAZY: At the conference we will hopefully present our next big project <\/strong><strong>which will involve implementing 100 e-buses in Greater Cairo<\/strong> through the Environment Ministry air quality loan. We are part of the consortium awarded the project and will be implementing it over the next year.<\/p>\n<p><strong>Another project we will present is the <\/strong><strong><a href=\"https:\/\/www.tenderdetail.com\/Global-Tenders\/TenderNotice\/29348222\/c57da376-7d71-438e-8220-faf5ecad3184\">Mobility Assessment, Public Transport<\/a><\/strong><strong><a href=\"https:\/\/www.tenderdetail.com\/Global-Tenders\/TenderNotice\/29348222\/c57da376-7d71-438e-8220-faf5ecad3184\">Improvement Study<\/a><\/strong><strong> (MAPTIS)<\/strong> \u2014 a study into public transport in the Greater Cairo area supported and financed by the World Bank for the benefit of the Transport Ministry. TfC supported the study by helping to model investments. It's the first study of the metropolitan area in 20 years, and there's a distinct climate angle incorporated into all recommendations.<\/p>\n<p><strong>We'll also present the <\/strong><strong><a href=\"https:\/\/transportforcairo.com\/wp-content\/uploads\/2021\/10\/TfC-6th-of-October-SUMP-EN.pdf\">Sixth of October Sustainable Urban Mobility Plan (SUMP)<\/a><\/strong><a href=\"https:\/\/transportforcairo.com\/wp-content\/uploads\/2021\/10\/TfC-6th-of-October-SUMP-EN.pdf\">(pdf)<\/a>, a project carried out with the support of the German <a href=\"https:\/\/www.fes.de\/\">Friedrich Ebert Stiftung<\/a>. We created the first city-level scenario in Egypt over the climate impacts of public transport interventions and identified the scenarios to reduce climate emissions by half by 2030 compared to the worst case scenarios.<\/p>\n<p><strong>E: What is a critical outcome you are hoping to achieve from COP27? <\/strong><\/p>\n<p><strong>MH: We need to start reframing our understanding of transport and climate.<\/strong> We often talk about the improvements that the current investments in the transport sector will bring from a climate perspective but we don't talk about the system itself, how many cars we have, and how many more we will have in the future.<\/p>\n<p><strong>It's really about shaping the narrative of transportation.<\/strong> We need to expand the dialogue to how hard infrastructure \u2014 the roads and the railways \u2014 are used, including the buses and the informal services, prices, incentives, and the choices people make in terms of transport. The SUMP and MAPTIS were the first studies of their kind to include a full data set of informal transport in Cairo \u2014 microbuses, the cooperatives and so on \u2014 and they look at what is needed on a climate level, including a list of investable and bankable projects the government ought to be investing in and taking to development banks for financing.<\/p>\n<p><strong>E:<\/strong> <strong>Has TfC contributed anything to the conference?<\/strong><\/p>\n<p><strong>MH: Transport and climate are often understood as infrastructure investments, which is <\/strong><strong>very true, but interventions are also about sustainable development and about behavioral change.<\/strong> One of the things that have been shown to be most effective and most asked for in the passenger surveys is passenger information.<\/p>\n<p><strong>To support this, we contributed the services of our Passenger Information System (PIS) <\/strong><strong>Maps Labs<\/strong> on a voluntary basis to design a Travel Guide for COP27, working heavily with the Ministry of Foreign Affairs and the Governorate of South Sinai. Attendees of COP27 will be able to use these maps, including cycling maps and the routes for 140 e-buses, and see how they link with the walking infrastructure in Sharm el Sheikh. The guide will also include how to travel sustainably to Sharm for the conference. We hope this contribution will show and hopefully change how transport is perceived on the global climate stage as not just hard infrastructure, but also the soft targeted interventions that cause behavioral change.<\/p>\n<p><strong>Infrastructure investments can support sustainable mobility in all its forms<\/strong> \u2014 not just hard infrastructure but also soft intervention like passenger information systems. We hope our engagement at COP27 can show the value of this and convince the international community to invest in soft interventions that cost 1 USD today and yield 100 USD in return on investment tomorrow.<\/p>\n<p><strong>E: What is the best path forward to decarbonize transport in Egypt?<\/strong><\/p>\n<p><strong>MH: I think that we need to invest in institutions and people, with an explicit mission of <\/strong><strong>moving us sustainably towards the future. <\/strong>We really need to invest and focus our attention on the institutions that we have \u2014 like for instance the regulation of thousands of buses and the hundreds of thousands of informal microbuses that form the backbone of our transport system \u2014 and build the human capacities on the public side that engage with this huge, effective private sector.<\/p>\n<p><strong>We also need to invest in fare systems or targeted transport subsidies for users<\/strong>, because these soft interventions are the ones that are going to make or break the transition to a more sustainable mobility system and the adoption of new infrastructure like the monorails, the expansion of the metro, the Alexandria tramway, and the national electric rail system.<\/p>\n<p><strong>E: How does this tie in with your role within the UN climate champions team?<\/strong><\/p>\n<p><strong>MH: I serve as co-lead on road transports within the initiative<\/strong>, which involves basically taking a \u201csystems change\u201d approach to everything that moves on land \u2014 between cities and within cities \u2014 and how we can decarbonize it to reach net zero by 2050, but also make it resilient and adapt to the changes that we are already witnessing today.<\/p>\n<p><strong>We focus on reframing the discussion of transport and climate to become inclusive<\/strong> geographically and technologically by focusing on emerging markets, particularly Africa. We focus on the entire transport system \u2014 not just roads and vehicles, but also the expansion of the public transport system and the behavioral change away from using cars.<\/p>\n<p><strong>We also focus on how we can exponentially expand the amount of finance<\/strong> that goes into improving transport in emerging markets by using innovative blended finance models. This finance is required to increase the share of electric cars, vans, buses and trucks on our roads.<\/p>\n<p>The third thing we focus on is labor: How can we ensure the [green] transition that takes place is equitable and just? Because public transport, or even freight, is really more about the creation of jobs than it is about the movement of people and goods. When you come to decarbonize that, you want to make it resilient to change.<\/p>\n<p><strong>I am also advising the Foreign Ministry on the Sustainable Transport Initiative of the Egyptian COP27 Presidency.<\/strong> This initiative is about operationalizing some of the concepts that I just mentioned, but more importantly, facilitating the discussion on behalf of the transport community that we take into COP27. It is about building on COP26 and carrying the torch through to COP28 in Dubai, and helping facilitate a discussion in the transport community on how to decarbonize and make transport more resilient.<\/p>\n<hr class=\"grey-line\">\n<p><strong>Your top green economy stories for the week:<\/strong><\/p>\n<ul>\n<li><strong>Hassan Allam Holding<\/strong> could <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ebd660a6-09b9-4d6e-b467-ea7ed5e8407f\">invest USD 50-150 mn<\/a> <strong>in renewable energy and desalination plants<\/strong> in Morocco.<\/li>\n<li><strong>Orascom Investment Holding (OIH)<\/strong> could <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ebd660a6-09b9-4d6e-b467-ea7ed5e8407f\">deploy USD 100 mn<\/a><strong> in green investments in Morocco<\/strong>, targeting electric-vehicle (EV) charging stations and solar plants.<\/li>\n<li><strong>General Motors<\/strong> and <strong>Al Mansour Automotive<\/strong> will <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/ff91c07e-a238-456a-a654-f35ed0da7093\">provide 150 electric buses<\/a> to run in Sharm El Sheikh during <strong>COP27<\/strong>.<\/li>\n<li>MPs <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1bb32be5-6b9f-4a72-8fb2-75e41e7cfdde\">approved<\/a> <strong>an automotive bill<\/strong> that will provide <strong>incentives for electric vehicle assembly<\/strong>.<\/li>\n<li><strong>Kharga<\/strong> <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02riVoqMaYZZJBjG7KkFuipUuvGauy4QAoYAgFz646ykgBsEuG4PHEt1CW8N7sPyZl\">has been named<\/a> the <strong>Arab Environmental Capital <\/strong>for 2022.<\/li>\n<\/ul>\n\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\/climate\/\">Climate<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/cop27\/\">COP27<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mohamed-hegazy\/\">Mohamed Hegazy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport\/\">transport<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/transport-for-cairo\/\">transport for cairo<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n\r\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=\"550384\" 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\/10\/25\/550384\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-550384\" class=\"content-area-description single-story post-550384 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>OCTOBER<\/strong><\/p>\n<p>October: Air Sphinx, EgyptAir\u2019s low-cost subsidiary to <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=25062022&id=06c1fc4b-9551-4f6c-a782-70bdec4b30f0\">commence operations<\/a>.<\/p>\n<p>23-25 \u200b\u200bOctober (Sunday-Tuesday): Egypt economic conference, Cairo, Egypt.<\/p>\n<p>23-25 \u200b\u200bOctober (Sunday-Tuesday): <a href=\"https:\/\/www.gecf.org\/\">Gas Exporting Countries Forum<\/a>, Cairo.<\/p>\n<p>24 October (Monday): <a href=\"https:\/\/fci.nl\/en\/event\/empowering-sustainable-trade-flows-factoring-facilitation-egyptian-trade-difficult-times?language_content_entity=en#register\">Empowering Sustainable Trade Flows with Factoring<\/a> conference, St. Regis Cairo.<\/p>\n<p>26 October (Wednesday): <a href=\"https:\/\/www.facebook.com\/events\/436637188402429\/\">Empowering the South: Green Economies and Climate Resilience<\/a> conference, the Greek Campus, Cairo, Egypt.<\/p>\n<p>26-28 October (Wednesday-Friday): Egypt <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0LXkrA1yvJmfVxBuUF9fA94GeAoPkbWA44cRRaWhJEzcu69p5eGocBaQXqeH6AmaEl\">celebrates 50 years of ties<\/a> with the UAE.<\/p>\n<p>27 October (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>27-30 October (Thursday-Sunday): <a href=\"https:\/\/cairoict.com\/\">Cairo ICT<\/a>, Egypt International Exhibition Center, New Cairo.<\/p>\n<p>30 October-1 November (Sunday-Tuesday): <a href=\"https:\/\/www.egypt-energy.com\/en\/home.html\">Egypt Energy<\/a>, Egypt International Exhibition Center (EIEC), New Cairo.<\/p>\n<p>Late October-14 November: 3Q2022 earnings season.<\/p>\n<p>Late October: First Abu Dhabi Bank to <a href=\"https:\/\/bit.ly\/3eEUoeA\">complete<\/a> full integration with Bank Audi\u2019s Egyptian operations after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7db0f456-9e63-420a-b309-a9a455fb3667\">merger<\/a>.<\/p>\n<p><strong>NOVEMBER<\/strong><\/p>\n<p>First week of November: IMF delegation to visit Egypt for negotiations on loan agreement.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>1-2 November (Tuesday-Wednesday): Arab League annual summit, Algiers, Algeria.<\/p>\n<p>3 November (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>3-5 November (Thursday-Saturday): Egypt Fashion Week.<\/p>\n<p>4-6 November (Friday-Sunday): <a href=\"https:\/\/www.autotechegypt.com\/en\/home.html\">Autotech<\/a> auto exhibition, Cairo International Exhibition and Convention Center.<\/p>\n<p>5-8 November (Sunday-Tuesday): Techne Summit for Investment and Entrepreneurship, Alexandria, Egypt<\/p>\n<p>6-18 November (Sunday-Friday): Egypt will host <a href=\"https:\/\/cop27.eg\/\">COP27<\/a> in Sharm El Sheikh.<\/p>\n<p>7 November (Monday): <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-mgi\/\">Middle East Green Initiative<\/a>, Sharm El Sheikh.<\/p>\n<p>7 November (Monday): The inauguration of the first line of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2356273-f17c-4a5b-a987-663aab9a2e29\">high-speed rail<\/a>.<\/p>\n<p>9 November (Wednesday): Finance Ministry to host \u201c<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid029A7ytdAhcMYQsLo8xQ6Ne5FuvWWDty9yYj66v4LMifKZ611tqzps8jkcw4P7fLMhl\">Finance Day<\/a>\u201d at COP27.<\/p>\n<p>11-12 November (Friday-Saturday): <a href=\"https:\/\/www.greeninitiatives.gov.sa\/about-sgi\/\">Saudi Green Initiative<\/a>, Sharm El Sheikh.<\/p>\n<p>7-13 November (Monday-Sunday): The International University Sports Federation (FISU) <a href=\"https:\/\/www.worldsquash.org\/2022-fisu-world-university-championship-squash-to-take-place-in-egypt\/\">World University<\/a> Squash Championships, New Giza.<\/p>\n<p>21 November-18 December (Monday-Sunday): 2022 Fifa World Cup, Qatar.<\/p>\n<p>27 - 28 November (Thursday-Friday): The first edition of the <a href=\"https:\/\/twitter.com\/Extranewstv\/status\/1579478836366176256\">Egypt Media Forum<\/a>.<\/p>\n<p><strong>DECEMBER<\/strong><\/p>\n<p>3 December (Saturday): Dior Men\u2019s pre-fall collection show in Giza.<\/p>\n<p>13-14 December (Tuesday-Wednesday): Federal Reserve interest rate meeting.<\/p>\n<p>13-15 December (Tuesday-Thursday): US-Africa Leaders Summit.<\/p>\n<p>15 December (Thursday): European Central Bank monetary policy meeting.<\/p>\n<p>22 December (Thursday): Central Bank of Egypt\u2019s Monetary Policy Committee meeting.<\/p>\n<p>December: The Sixth of October dry port <a href=\"https:\/\/bit.ly\/3u3uB4u\">will begin operations<\/a>.<\/p>\n<p>December: Egyptian Automotive Summit.<\/p>\n<p>December: Egypt to <a href=\"https:\/\/bit.ly\/3bVoWYy\">expand Sudan electricity link capacity<\/a> to 300 MW.<\/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>1 January (Sunday): Use of Nafeza <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/381373340699759\">becomes compulsory<\/a> for air freight.<\/p>\n<p>1 January (Sunday): Residential electricity bills are set to rise as per the government\u2019s <a href=\"https:\/\/ent.news\/2020\/6\/%D8%A7%D9%84%D9%85%D8%A4%D8%AA%D9%85%D8%B1-%D8%A7%D9%84%D8%B5%D8%AD%D9%81%D9%89-%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A1-%D9%84%D9%84%D8%AE%D9%85%D8%B3-%D8%B3%D9%86%D9%88%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%A7%D8%AF%D9%85%D8%A9-9-6-2020-1.pdf\">six-year roadmap (pdf)<\/a> to restructure electricity prices by 2025.<\/p>\n<p>7 January (Saturday): Coptic Christmas.<\/p>\n<p>24 January-6 February: The 54th Cairo International Book Fair, Egypt International Exhibition Center<\/p>\n<p>25 January (Wednesday): 25 January revolution anniversary \/ Police Day.<\/p>\n<p>26 January (Thursday): National holiday in observance of 25 January revolution anniversary \/ Police Day.<\/p>\n<p>30 January-1 February (Monday-Wednesday): CI Capital\u2019s Annual MENA Investor Conference 2023, Cairo, Egypt.<\/p>\n<p><strong>FEBRUARY 2023<\/strong><\/p>\n<p>11 February (Saturday): Second semester of 2022-2023 academic year begins for public universities.<\/p>\n<p>13-15 February (Monday-Wednesday): The <a href=\"https:\/\/www.egyps.com\/\">Egypt Petroleum Show (Egyps)<\/a>, Egypt International Exhibition Center, Cairo.<\/p>\n<p>23-27 February (Thursday-Monday): The eighth annual <a href=\"https:\/\/www.bwe21.com\/2023-conference\/\">Business Women of Egypt\u2019s Women for Success conference<\/a>.<\/p>\n<p><strong>MARCH 2023<\/strong><\/p>\n<p>March: 4Q2022 earnings season.<\/p>\n<p>23 March (Wednesday): First day of Ramadan (TBC). Maghreb will be at 6:08pm CLT.<\/p>\n<p><strong>APRIL 2023<\/strong><\/p>\n<p>17 April (Monday): Sham El Nessim.<\/p>\n<p>22 April (Saturday): Eid El Fitr (TBC).<\/p>\n<p>25 April (Tuesday): Sinai Liberation Day.<\/p>\n<p>27 April (Thursday): National holiday in observance of Sinai Liberation Day (TBC).<\/p>\n<p>Late April &ndash; 15 May: 1Q2023 earnings season.<\/p>\n<p><strong>MAY 2023<\/strong><\/p>\n<p>1 May (Monday): Labor Day.<\/p>\n<p>4 May (Thursday) National holiday in observance of Labor Day (TBC).<\/p>\n<p>22-26 May (Monday-Friday): Egypt <a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/african-development-bank-group-concludes-annual-meetings-governors-endorse-banks-vision-next-10-years-51974#:~:text=The%20new%20Board%20of%20Governors,from%2022%2D26%20May%202023.\">will host<\/a> the African Development Bank (AfDB) annual meetings in Sharm El Sheikh.<\/p>\n<p><strong>JUNE 2023<\/strong><\/p>\n<p>19-21 June (Monday-Wednesday) Egypt Infrastructure and Water Expo <a href=\"https:\/\/ent.news\/2022\/9\/Announcement__EGYPT_INFRASTRUCTURE_AND_WATER_EXPO_LAUNCHES_JUNE_2023.pdf\">debuts<\/a> at the Egypt International Exhibition Center.<\/p>\n<p>28 June-2 July (Wednesday-Sunday): Eid El Adha (TBC).<\/p>\n<p>30 June (Friday): June 30 Revolution Day.<\/p>\n<p><strong>JULY 2023<\/strong><\/p>\n<p>18 July (Tuesday): Islamic New Year.<\/p>\n<p>20 July (Thursday): National holiday in observance of Islamic New Year (TBC).<\/p>\n<p>23 July (Sunday): Revolution Day.<\/p>\n<p>27 July (Thursday): National holiday in observance of Revolution Day.<\/p>\n<p>Late July-14 August: 2Q2023 earnings season.<\/p>\n<p><strong>SEPTEMBER 2023<\/strong><\/p>\n<p>26 September (Tuesday): Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p>28 September (Thursday): National holiday in observance of Prophet Muhammad\u2019s birthday (TBC).<\/p>\n<p><strong>OCTOBER 2023<\/strong><\/p>\n<p>6 October (Friday): Armed Forces Day.<\/p>\n<p>Late October-14 November: 3Q2023 earnings season.<\/p>\n<p><strong>EVENTS WITH NO SET DATE <\/strong><\/p>\n<p>2H 2022: The inauguration of the Grand Egyptian Museum.<\/p>\n<p>2H 2022: <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>2H 2022: The government will have vaccinated 70% of the population.<\/p>\n<p>3Q 2022: Ayady\u2019s consumer financing arm, The Egyptian Company for Consumer Finance Services, to release its first financing product.<\/p>\n<p>3Q 2022: Swvl to close <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">acquisition of<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Urbvan<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e17b15-78b9-421a-81f5-9d3d5ee0227d\">Mobility<\/a>.<\/p>\n<p>4Q 2022: Infinity + Africa Finance Corporation to close acquisition of Lekela Power.<\/p>\n<p>4Q 2022: Electricity Ministry to tender six solar projects in Aswan Governorate.<\/p>\n<p>4Q2022: Raya Holding subsidiary Aman and Qalaa Holdings\u2019 Taqa Arabia to launch their fintech company.<\/p>\n<p>4Q 2022: Saudi Jamjoom Pharma to <a href=\"https:\/\/bit.ly\/3R7SGzP\">inaugurate its EGP 1 bn pharma factory<\/a> in El Obour.<\/p>\n<p>End of 2022: Decent Life first phase scheduled for completion.<\/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>1Q 2023: Adnoc Distribution\u2019s acquisition of 50% of TotalEnergies Egypt to close.<\/p>\n\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":550365,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-550364","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"629eda0e-3910-4ac9-8c26-cc17dc6d3615","teaser":"","photo_url":"https:\/\/ent.news\/2022\/10\/37.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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