{"id":621191,"date":"2018-11-01T04:14:13","date_gmt":"2018-11-01T04:14:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?post_type=issue&#038;p=621191"},"modified":"2025-12-17T06:10:59","modified_gmt":"2025-12-17T06:10:59","slug":"egypt-among-most-improved-on-world-banks-doing-business-report","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/egypt\/issues\/egypt-among-most-improved-on-world-banks-doing-business-report\/","title":{"rendered":"Egypt among most-improved on World Bank\u2019s Doing Business report"},"content":{"rendered":"<section id=\"621193\" 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=\"621193\">\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\/2018\/11\/01\/what-were-tracking-on-1-november-2018\/\">\r\n                            What we\u2019re tracking on 1 November 2018                        <\/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\/2018\/11\/01\/what-were-tracking-on-1-november-2018\/\" 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\/2018\/11\/01\/what-were-tracking-on-1-november-2018\/')\">\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\/2018\/11\/01\/what-were-tracking-on-1-november-2018\/\">\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=What we\u2019re tracking on 1 November 2018&url=https:\/\/enterpriseam.com\/egypt\/2018\/11\/01\/what-were-tracking-on-1-november-2018\/\">\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\/2018\/11\/01\/what-were-tracking-on-1-november-2018\/&title=What we\u2019re tracking on 1 November 2018\">\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=What+we%E2%80%99re+tracking+on+1+November+2018+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F11%2F01%2Fwhat-were-tracking-on-1-november-2018%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\/2018\/11\/01\/what-were-tracking-on-1-november-2018\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-621193\" class=\"content-area-description single-story post-621193 post type-post status-publish format-standard hentry category-what-were-tracking-today tag-climate-change tag-consumer-protection-agency tag-enterpriseam tag-global-markets tag-what-were-tracking-today wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<aside>\t\t\t<div\r\n\t\t\t\t\t\t\t\tclass=\"newspack-popup-container newspack-popup hidden  newspack-inline-popup  newspack-lightbox-no-border   \"\r\n\t\t\t\trole=\"button\"\r\n\t\t\t\ttabindex=\"0\"\r\n\t\t\t\tstyle=\"background-color:#FFFFFF;color:#000\"\r\n\t\t\t\tid=\"id_27645\"\r\n\t\t\t\tdata-segments=\"\"\r\n\t\t\t\tdata-frequency=\"0,0,0,month\"\r\n\t\t\t>\r\n\t\t\t\t\n<div class=\"wp-block-group has-light-gray-background-color has-background\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-container-core-group-is-layout-ef38739e wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group is-content-justification-center is-nowrap is-layout-flex wp-container-core-group-is-layout-94bc23d7 wp-block-group-is-layout-flex\">\n<p class=\"f-graphik\" style=\"font-size:14px\">Together with<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/internal\/27482.svg\" alt=\"\" class=\"wp-image-27482\"\/><\/figure>\n<\/div><\/div>\n<\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/aside>\n<p><b>We\u2019re closing the week with more good news <\/b>as Egypt ranked among the most-improved countries in the World Bank\u2019s Ease of Doing Business report. It\u2019s the third reminder this week that smart government policy can make a difference, following news of the massive environmental benefits of the white taxi program and the near-elimination this fall of the annual \u201cblack cloud\u201d over Cairo \u2014 both thanks to good policymaking. We have more in this morning\u2019s Speed Round, below.<\/p><p><b>Two highlights outside the news well this morning: <\/b>We have an <b>exclusive opinion column<\/b> from top execs and directors at three of the nation\u2019s top mineral resources companies. And we\u2019re very pleased to launch our new <b>My Morning Routine<\/b> column, which will run on Thursdays in place of On Your Way Out.<\/p><p><b>The first annual <\/b><a href=\"http:\/\/www.mainmena.com\/conferences\/\"><b>Middle East Conference on Business Angel Investment<\/b><\/a>takes place today in El Gouna. The conference will bring together angel investors, venture capitalists and others to discuss the latest trends in fintech, clean tech, health technology and transportation technology. <a href=\"https:\/\/enterprise.press\/wp-content\/uploads\/2018\/10\/MAIN_Summit-2018_PR-Release.pdf\">More here<\/a>.<\/p><p><b>Egypt\u2019s <\/b><a href=\"https:\/\/wyfegypt.com\/\"><b>World Youth Forum 2018<\/b><\/a><b> will kick-off in Sharm El Sheikh<\/b> this Saturday and run until Tuesday, 6 November.<\/p><p><b>Consumer protection watchdog enforces return policy on Sharm shops ahead forum: <\/b>The Consumer Protection Agency (CPA) announced yesterday that it has enforced a return and replacement policy on all shops in Sharm El Sheikh before visitors start landing in the city for the forum, <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=31102018&amp;id=85a0c9be-7738-43e0-93cd-31a0b3db03a0\">Al Shorouk reports<\/a>. The agency also launched a campaign to \u201ceducate\u201d tourists about their rights as consumers. The campaign sees flyers being distributed in airports, shops, hotels, and other public venues, as well as text messages, according to CPA boss Reda Abdel Moaty.<\/p><p><b>Markets closed October on a good note: <\/b>\u201cGlobal stocks ended a grim October on a brighter note, as corporate earnings on both sides of the Atlantic tempted investors back into a market beset by worries over rising interest rates, trade tensions and a slowing global economy,\u201d the <a href=\"https:\/\/www.ft.com\/content\/0a356a1a-dced-11e8-8f50-cbae5495d92b\">Financial Times<\/a> writes. The WSJ zeroes in on <a href=\"https:\/\/www.wsj.com\/articles\/global-stocks-rally-to-end-a-tough-month-1540976261\">US market performance<\/a>. <b>The EGX30 closed up 0.73%<\/b> yesterday.<\/p><p><b>Credit Suisse\u2019s Ahmed Badr snagged two bankers from BofA <\/b>to help lead the Swiss lender\u2019s new drive for market share in the Middle East, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-10-31\/credit-suisse-said-to-hire-bofa-bankers-to-boost-mideast-equity\">Bloomberg reports<\/a>. \u201cThe Zurich-based bank appointed [Bank of America\u2019s] Hamdy Hamoudi to lead equity sales in the region and Imran Dadabhoy to manage sales trading\u2026[Credit Suisse] sales trader Karim Osman will relocate to Riyadh from London to manage equity sales trading.\u201d Credit Suisse lured Badr back from Renaissance Capital last month to serve as managing director and head of equities for MENA as the bank looks to \u201crebuild its equity operations in Dubai after scaling back a few years ago amid a slowdown in trading.\u201d<\/p><p><b>Reuters has an amazing series out on climate change<\/b> headlined \u201cOcean Shock\u201d that looks at the \u201cclimate crisis beneath the waves. Driven by warming waters, marine life is on the move \u2014 and life on land is forever changed.\u201d The <a href=\"https:\/\/www.reuters.com\/investigates\/section\/ocean-shock\/\">beautiful landing page for the 10-article series is here<\/a>. Among the highlights of the package, which brings stories to life with stunning photography, video and data alike:<\/p><ul>\n<li><a href=\"https:\/\/www.reuters.com\/investigates\/special-report\/cean-shock-lobster\/#article-lobster-rush\">The great lobster rush:<\/a> In Maine, warming seas set up boom and bust<\/li>\n<li><a href=\"https:\/\/www.reuters.com\/investigates\/special-report\/ocean-shock-sardinella\/\">Plundering Africa:<\/a> Voracious fishmeal factories intensify the pressure of climate change<\/li>\n<li><a href=\"https:\/\/www.reuters.com\/investigates\/special-report\/ocean-shock-norway\/\">The Silicon Valley of the Sea:<\/a> The future of seafood<\/li>\n<\/ul><p><b>Egyptian journalist Hamdi Qandil passed away last night at the age of 82<\/b> after many years of battling disease, <a href=\"http:\/\/www.tellerreport.com\/news\/--departure-of-the-egyptian-media-hamdi-qandil-owner-of-%22pencil%22-.HJFls0Pnm.html\">Ahram Gate reports<\/a>.<\/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\/climate-change\/\">climate change<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/consumer-protection-agency\/\">Consumer Protection Agency<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/global-markets\/\">global markets<\/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                   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alt=\"\">\r\n                    <\/a>\r\n                    <span>Driving growth<\/span>\r\n                <\/div>\r\n            <\/div>\r\n            <\/div><\/div><\/div>\r\n        <\/div><div class=\"stk-block-carousel__buttons\"><button class=\"stk-block-carousel__button stk-block-carousel__button__prev\" aria-label=\"Previous slide\"><svg aria-hidden=\"true\" focusable=\"false\" data-prefix=\"fas\" data-icon=\"chevron-left\" class=\"svg-inline--fa fa-chevron-left\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 320 512\" width=\"32\" height=\"32\"><path d=\"M34.52 239.03L228.87 44.69c9.37-9.37 24.57-9.37 33.94 0l22.67 22.67c9.36 9.36 9.37 24.52.04 33.9L131.49 256l154.02 154.75c9.34 9.38 9.32 24.54-.04 33.9l-22.67 22.67c-9.37 9.37-24.57 9.37-33.94 0L34.52 272.97c-9.37-9.37-9.37-24.57 0-33.94z\"><\/path><\/svg><\/button><button class=\"stk-block-carousel__button stk-block-carousel__button__next\" aria-label=\"Next slide\"><svg aria-hidden=\"true\" focusable=\"false\" 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   \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\">Enterprise+: Last Night\u2019s Talk Shows<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/01\/interview-with-imf-egypt-mission-chief-subir-lall\/\">\r\n                            Interview with IMF Egypt Mission Chief Subir Lall                        <\/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 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            <\/a>\r\n\r\n                \n<article id=\"post-621196\" class=\"content-area-description single-story post-621196 post type-post status-publish format-standard hentry category-enterprise-last-nights-talk-shows tag-debt tag-enterprise-last-nights-talk-shows tag-enterpriseam tag-environment tag-imf tag-talk-shows 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> ** #5 <b>An interview with IMF Egypt Mission Chief Subir Lall was the highlight of the night<\/b> on the airwaves.<\/p>\n<p><b>Egypt\u2019s debt levels will remain safe as long as it holds the line on economic reform <\/b>by remaining focused on phasing out subsidies and achieving a budget surplus, Lall told Yahdoth fi Masr\u2019s Sherif Amer (<a href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/1096994290462340\/\">watch, runtime: 1:12<\/a>). Lall praised ongoing economic reform efforts during a discussion of Egypt\u2019s latest staff-level agreement with the IMF for the fifth tranche of its USD 12 bn loan, on which we have chapter and verse on in this morning\u2019s Speed Round, below (<a href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/494921334357567\/\">watch here, runtime: 3:06<\/a> and <a href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/304493697053640\/\">here, runtime: 2:16<\/a> ). He told Amer that reducing sovereign debt to 93% of GDP in FY2017-18 from 103% the year before was a \u201chuge achievement\u201d (<a href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/589837048119486\/\">watch, runtime: 1:36<\/a>).<\/p>\n<p><b>Job creation is Egypt\u2019s current challenge and the private sector has a role to play here, <\/b>Lall noted (<a href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/180226042911186\/\">watch, runtime: 1:59<\/a>).<\/p>\n<p><b>Lall was briefly dragged into potato-gate<\/b> as Amer joined his peers in a modest freakout over the price of spuds. Lall suggested the spike in potato prices is not a sign the economic sky is falling, is likely temporary and added that the IMF has been in touch with the Agriculture Ministry to learn more about the issue (<a href=\"https:\/\/www.facebook.com\/YahdothFiMasr\/videos\/341763043036398\/\">watch, runtime: 1:31<\/a>).<\/p>\n<p><b>Environmental issues were the order of the day on Masaa DMC,<\/b> with Environment Minister Yasmin Fouad making an appearance on the show last night to discuss issues such as the pollution caused by burning rice straw (a widespread phenomenon across rural Egypt). Foad said that there have been fewer incidents of rice straw burning recently since the ministry began to take action (<a href=\"https:\/\/www.youtube.com\/watch?v=OqEN4NqDnBg\">watch, runtime: 5:17<\/a>). Sharqiya governor Mamdouh Ghorab also phoned into the show to talk about a thick cloud of black smoke that has formed over a village in Kafr El Sheikh from burning trash (<a href=\"https:\/\/www.youtube.com\/watch?v=-yBdc_2n1N4\">watch, runtime: 10:21<\/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\/debt\/\">debt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/enterprise-last-nights-talk-shows\/\">Enterprise+: Last Night\u2019s Talk Shows<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/environment\/\">environment<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/imf\/\">IMF<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/talk-shows\/\">talk shows<\/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=\"621197\" 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=\"621197\">\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\">GUEST COLUMN<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/01\/top-miners-say-forthcoming-changes-to-mineral-resources-act-are-extremely-encouraging-could-unlock-tidal-wave-of-investment\/\">\r\n                            Top miners say forthcoming changes to mineral resources act are \u201cextremely encouraging,\u201d could unlock tidal wave of investment                        <\/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\/2018\/11\/01\/top-miners-say-forthcoming-changes-to-mineral-resources-act-are-extremely-encouraging-could-unlock-tidal-wave-of-investment\/\" 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\/2018\/11\/01\/top-miners-say-forthcoming-changes-to-mineral-resources-act-are-extremely-encouraging-could-unlock-tidal-wave-of-investment\/')\">\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\/2018\/11\/01\/top-miners-say-forthcoming-changes-to-mineral-resources-act-are-extremely-encouraging-could-unlock-tidal-wave-of-investment\/\">\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=Top miners say forthcoming changes to mineral resources act are \u201cextremely encouraging,\u201d could unlock tidal wave of investment&url=https:\/\/enterpriseam.com\/egypt\/2018\/11\/01\/top-miners-say-forthcoming-changes-to-mineral-resources-act-are-extremely-encouraging-could-unlock-tidal-wave-of-investment\/\">\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\/2018\/11\/01\/top-miners-say-forthcoming-changes-to-mineral-resources-act-are-extremely-encouraging-could-unlock-tidal-wave-of-investment\/&title=Top miners say forthcoming changes to mineral resources act are \u201cextremely encouraging,\u201d could unlock tidal wave of investment\">\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=Top+miners+say+forthcoming+changes+to+mineral+resources+act+are+%E2%80%9Cextremely+encouraging%2C%E2%80%9D+could+unlock+tidal+wave+of+investment+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F11%2F01%2Ftop-miners-say-forthcoming-changes-to-mineral-resources-act-are-extremely-encouraging-could-unlock-tidal-wave-of-investment%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\/2018\/11\/01\/top-miners-say-forthcoming-changes-to-mineral-resources-act-are-extremely-encouraging-could-unlock-tidal-wave-of-investment\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-621197\" class=\"content-area-description single-story post-621197 post type-post status-publish format-standard hentry category-guest-column tag-aton-resources tag-enterpriseam tag-guest-column tag-mineral-resources-act tag-mining tag-thani-stratex-resources 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-02\"><\/a> ** #2 <b>GUEST COLUMN: Upcoming amendments to Mineral Resources Act are \u201cextremely encouraging,\u201d could unlock tidal wave of investment, say top mining companies in Egypt:<\/b> <i>Changes to the Mineral Resources Act now in the legislative pipeline to the will bring \u201cimmense benefits\u201d to the mining industry, say senior execs and directors at three top players in Egypt\u2019s burgeoning natural resources industry in an opinion column written exclusively for Enterprise. The signatories: <b>Aton Resources<\/b> President and CEO Mark Campbell, <b>Thani Stratex<\/b> Resources CEO David J. Hall and <b>Resolute Egypt<\/b> Director Ossama El Maghraby. The column:<\/i><\/p>\n<p>The remarks about mining policy reform made last week by Minister of Petroleum and Mineral Wealth Tarek El Molla at an event hosted by the American Chamber of Commerce, were extremely encouraging to us in the industry.<\/p>\n<p>The minister was very candid in stating that for too long, the fiscal terms used to commercially regulate mineral exploration and mining have been wrong, but that the government is going to fix this. He said they were going to create an investment-friendly environment to attract much needed capital into Egypt\u2019s nascent mining sector so as to develop Egypt\u2019s potentially vast mineral wealth in precious and base metals.<\/p>\n<p>We in the mining sector were also extremely encouraged by the minister\u2019s public recognition that oil & gas and mining have fundamentally different business models, and that their economics do not correlate in any way. The only relationship to be found between the two sectors is that they are extractive industries. To compare the two industries would be like comparing an airline to Uber just because they both get you from point A to point B.<\/p>\n<p>The global mineral exploration and mining industry has its own set of industry standards and norms, and as such, mining companies go to countries where they are welcome. These are countries with well-developed terms and conditions designed to attract international capital. Investors make very high-risk and long-term investments and are inevitably drawn to countries whose governments firmly understand the sector and its needs, and that seek to engage into meaningful and long-term partnerships. These are businesses and though the geology may be great in country, if companies can\u2019t ultimately bring a return to their stakeholders, they won\u2019t come.<\/p>\n<p>Egypt has taken some bold first steps to make investing in the sector more attractive. The government hired a globally recognized, resource consulting firm at the beginning of the year to identify the problems with its mining terms and conditions and to critically answer the questions: Why has only one new gold mine been developed in the last 90 years? Why are there only three international exploration and mining companies working here (despite having held multiple bid rounds)? As we understand it, the last time this consulting firm assisted a government (Ecuador) in unlocking its mineral wealth potential, which like Egypt had an oil and gas focused framework, it almost immediately attracted 400 companies to invest. This too could be Egypt.<\/p>\n<p><a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/31\/forthcoming-amendments-mineral-resources-act-extremely-encouraging-atons-mark-campbell\/\"><b>Tap or click here to read the rest of the piece<\/b><\/a><b>.<\/b><\/p>\n<p><b><i>Do you have an idea for a Guest Column? <\/i><\/b><i>Email patrick@enterprise.press.<\/i><\/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\/aton-resources\/\">Aton Resources<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/guest-column\/\">Guest column<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mineral-resources-act\/\">Mineral Resources Act<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/mining\/\">mining<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/thani-stratex-resources\/\">Thani Stratex Resources<\/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=\"621198\" 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=\"621198\">\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\">Speed Round<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/01\/egypt-jumps-8-spots-in-world-banks-2019-ease-of-doing-business-report\/\">\r\n                            Egypt jumps 8 spots in World Bank\u2019s 2019 Ease of Doing Business report                        <\/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\/2018\/11\/01\/egypt-jumps-8-spots-in-world-banks-2019-ease-of-doing-business-report\/\" 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\/2018\/11\/01\/egypt-jumps-8-spots-in-world-banks-2019-ease-of-doing-business-report\/')\">\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\/2018\/11\/01\/egypt-jumps-8-spots-in-world-banks-2019-ease-of-doing-business-report\/\">\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=Egypt jumps 8 spots in World Bank\u2019s 2019 Ease of Doing Business report&url=https:\/\/enterpriseam.com\/egypt\/2018\/11\/01\/egypt-jumps-8-spots-in-world-banks-2019-ease-of-doing-business-report\/\">\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\/2018\/11\/01\/egypt-jumps-8-spots-in-world-banks-2019-ease-of-doing-business-report\/&title=Egypt jumps 8 spots in World Bank\u2019s 2019 Ease of Doing Business report\">\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+jumps+8+spots+in+World+Bank%E2%80%99s+2019+Ease+of+Doing+Business+report+https%3A%2F%2Fenterpriseam.com%2Fegypt%2F2018%2F11%2F01%2Fegypt-jumps-8-spots-in-world-banks-2019-ease-of-doing-business-report%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\/2018\/11\/01\/egypt-jumps-8-spots-in-world-banks-2019-ease-of-doing-business-report\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-621198\" class=\"content-area-description single-story post-621198 post type-post status-publish format-standard hentry category-speed-round tag-enterpriseam tag-investment-watch tag-speed-round tag-world-bank 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-01\"><\/a> ** #1 <b>More good news: Egypt is among the most-improved countries in the World Bank\u2019s latest Ease of Doing Business report: <\/b>Egypt jumped eight spots to rank 120th out of 190 countries in the World Bank Group\u2019s 2019 <a href=\"http:\/\/www.doingbusiness.org\/content\/dam\/doingBusiness\/media\/Annual-Reports\/English\/DB2019-report_web-version.pdf\">Ease of Doing Business report (pdf)<\/a>. The country made it to the report\u2019s list of top performers in 2017-18 thanks to the implementation of regulatory reforms that facilitated doing business in three or more of the 10 topics included in the report compared to last year. <b>Here\u2019s where we did well:<\/b><\/p>\n<p><b>Starting a business:<\/b> The process of starting a new business became easier over the past year with the introduction ofa \u201cone-stop shop\u201d for investors that doesn\u2019t require a bank certificate, which helped reduce \u201cregulatory complexity\u201d in 2017-18. According to the report, it now takes an average of 11 days and 6.5 steps to start a business.<\/p>\n<p><b>Making it easier to access credit: <\/b>Egypt also worked on strengthening the legal rights of borrowers and lenders \u201cby introducing the possibility of granting a non-possessory security right in a single category of movable assets without requiring a specific description of the collateral. Secured creditors are now given absolute priority over other claims, such as labor and tax, both outside and within bankruptcy proceedings,\u201d the report said.<\/p>\n<p><b>Egypt also stepped up protections for minority investors<\/b> by expanding shareholders\u2019 role in company management and \u201cincreasing corporate transparency.\u201d<\/p>\n<p><b>We can actually restructure with bankruptcy protection rather than go to jail: <\/b>Under the subhed \u201cresolving bankruptcy,\u201d the World Bank notes that Egypt \u201cintroduced a new restructuring procedure, which included training programs on solvency law and allowed debtors to initiate the reorganization procedure and granted creditors greater participation in the proceedings.\u201d<\/p>\n<p><b>Paying taxes has also been made easier <\/b>by improving the VAT refund process, extending it to refunds to manufacturers in case of a capital investment.<\/p>\n<p><b>How did we fare in comparison to others?<\/b> New Zealand remains at the top of the global ranking, followed by Singapore and Denmark. Somalia also retained its spot at the bottom of the chart, despite its score improving slightly y-o-y. The UAE was the highest ranked MENA country, climbing to the 11th spot from 21 last year. Morocco ranked 60 and Saudi Arabia ranked 92.<\/p>\n<p><b>Other recent good news: <\/b>Smart government policy helped <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/31\/black-cloud-over-cairo-disappears-because-of-smart-government-policy\/\">virtually eliminate the \u201cblack cloud\u201d<\/a> that previously plagued the nation\u2019s capital every fall and a World Bank report found the white cab taxi replacement program <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/29\/when-government-policy-works-the-white-cab-program-slashed-egypts-carbon-dioxide-emissions-by-310k-tonnes-in-2013-2017\/\">slashed Egypt\u2019s carbon dioxide emissions by 310k tonnes in 2013-2017<\/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\/investment-watch\/\">investment watch<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/speed-round\/\">SPEED ROUND<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/egypt\/tag\/world-bank\/\">World Bank<\/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","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":621192,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-621191","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"5449d648-7382-4b9d-8c3a-e1935c523f39","teaser":"","photo_url":"https:\/\/ent.news\/2018\/11\/1079.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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