{"id":546096,"date":"2022-04-27T03:57:03","date_gmt":"2022-04-27T03:57:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/tuk-tuk-replacement-still-undecided-abb-to-open-train-component-plant-in-egypt\/"},"modified":"2022-04-27T03:57:03","modified_gmt":"2022-04-27T03:57:03","slug":"tuk-tuk-replacement-still-undecided-abb-to-open-train-component-plant-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/tuk-tuk-replacement-still-undecided-abb-to-open-train-component-plant-in-egypt\/","title":{"rendered":"Tuk-tuk replacement still undecided + ABB to open train component plant in Egypt"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> The Madbouly <strong>government is in talks<\/strong> with an <strong>international automake<\/strong>r to<strong> produce vehicles <\/strong><strong>to replace tuk-tuks<\/strong>, Public Enterprises Minister Hisham Tawfik <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/384981590338934\">said last week<\/a>, without providing further details. Industry observers are closely watching to see what class of vehicles (and which incentives) the government authorizes to replace tuk-tuks, which largely serve peri-urban areas with streets too narrow or congested for standard four-wheeled vehicles.<\/p>\n<p><strong>ALSO- Automotive industry players are still waiting <\/strong>for news of the so-called \u201cautomotive directive\u201d \u2014 a long-in-the-works package of incentives and regulations designed to spur investment in vehicle assembly and manufacturing in Egypt. <a href=\"https:\/\/enterprise.press\/industries\/%f0%9f%8f%ad-inside-industry\/\">Our Inside Industry vertical<\/a>, presented in association with our friends at IDG, had a deep dive last month into what you can expect.<\/p>\n<p><strong>MEANWHILE- ABB <\/strong>will soon open an <strong>EGP 180 mn factory<\/strong> in Tenth of Ramadan City that will manufacture <strong>components for electric trains<\/strong>. It will source up to 40% of its components from local suppliers, and sell some 25% of its products to the local market. (<a href=\"https:\/\/bit.ly\/3jSngzk\">Al Mal<\/a>)<\/p>\n<p><strong>AND- <\/strong><strong>Cabinet<\/strong> approved <strong>amendments to the Anti-Money Laundering Act<\/strong> that would see an independent money laundering and terrorist financing unit set up at the Central Bank of Egypt. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/385102716993488\">Statement<\/a>)<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>Cabinet approved a <strong>USD 373 mn <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a8df856-aabd-4831-bdf6-69b781d49182\">funding agreement<\/a><\/strong> with the <strong>Arab Monetary Fund<\/strong> to support the government in overcoming the effects of the covid pandemic, and a <strong>USD 60.6 mn financing agreement<\/strong> from the <strong>South Korean government<\/strong> to upgrade the signaling systems on the Luxor-High Dam railway line. (<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/385102716993488\">Statement<\/a>)<\/li>\n<li>Banks opened <strong>letters of credit<\/strong> worth <strong>USD 11.6 bn<\/strong> in the six weeks since 1 March, when the CBE\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f1237459-2827-438d-96c3-8fe7a8dce26e\">new rule<\/a> requiring businesses to use L\/Cs to import goods came into effect. (<a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/2579154\">AMAY<\/a>)<\/li>\n<li><strong>The 2016 crash of Paris-Cairo EgyptAir flight MS804 was the result of a fire <\/strong><strong>sparked by a cigarette<\/strong>, according to a report conducted by French aviation experts that Italian paper <a href=\"https:\/\/www.corriere.it\/cronache\/22_aprile_26\/volo-egyptair-incendio-piloti-fumo-fb725f4c-c4d3-11ec-8db2-dfe15c68e9dd.shtml\">Corriere della Sera<\/a> claims to have seen. British newspaper <a href=\"https:\/\/www.telegraph.co.uk\/world-news\/2022\/04\/26\/pilots-smoking-cockpit-leaky-oxygen-masks-caused-crash-aircraft\/\">the Telegraph<\/a> also has the story.<\/li>\n<li>German development bank <strong>KfW<\/strong> has agreed to lend us <strong>EUR 26 mn <\/strong>to finance the <strong>r<\/strong><strong>enovation of hydropower stations in Aswan<\/strong>. (<a href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/351362887025616\">Statement<\/a>)<\/li>\n<li>The <strong>Women Entrepreneurs Finance Initiative (We-Fi)<\/strong> has allocated <strong>USD 15 <\/strong><strong>mn<\/strong> to the <strong>African Development Bank<\/strong> to extend digital services and training to<strong> women-owned SMEs in Egypt<\/strong>, Cameroon, Kenya, Mozambique and Nigeria. (<a href=\"https:\/\/we-fi.org\/fourth-round-funding-announcement\/\">Statement<\/a>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Madbouly government is in talks with an international automaker to produce vehicles to replace tuk-tuks, Public Enterprises Minister Hisham Tawfik said last week, without providing further details. Industry observers are closely watching to see what class of vehicles (and which incentives) the government authorizes to replace tuk-tuks, which largely serve peri-urban areas with streets [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[9697,1376,111,1776,101,880,1775,72,1282,180,131,265,414,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546096","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-abb","tag-african-development-bank","tag-also-on-our-radar","tag-amf","tag-development-finance","tag-egyptair","tag-electric-trains","tag-enterpriseam","tag-kfw","tag-legislation","tag-manufacturing","tag-money-laundering","tag-south-korea","tag-trade","wpautop","entry"],"acf":{"mongo_id":"4c6e1bff-c205-4d35-877a-2cb3fcce5824","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[546077],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Tuk-tuk replacement still undecided + ABB to open train component plant in Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/tuk-tuk-replacement-still-undecided-abb-to-open-train-component-plant-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tuk-tuk replacement still undecided + ABB to open train component plant in Egypt\" \/>\n<meta property=\"og:description\" content=\"The Madbouly government is in talks with an international automaker to produce vehicles to replace tuk-tuks, Public Enterprises Minister Hisham Tawfik said last week, without providing further details. Industry observers are closely watching to see what class of vehicles (and which incentives) the government authorizes to replace tuk-tuks, which largely serve peri-urban areas with streets [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/tuk-tuk-replacement-still-undecided-abb-to-open-train-component-plant-in-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-27T03:57:03+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/tuk-tuk-replacement-still-undecided-abb-to-open-train-component-plant-in-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/tuk-tuk-replacement-still-undecided-abb-to-open-train-component-plant-in-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Tuk-tuk replacement still undecided + ABB to open train component plant in Egypt\",\"datePublished\":\"2022-04-27T03:57:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/tuk-tuk-replacement-still-undecided-abb-to-open-train-component-plant-in-egypt\/\"},\"wordCount\":391,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"ABB\",\"African Development Bank\",\"ALSO ON OUR RADAR\",\"AMF\",\"development finance\",\"EgyptAir\",\"electric trains\",\"EnterpriseAM\",\"Kfw\",\"legislation\",\"Manufacturing\",\"money laundering\",\"South Korea\",\"trade\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/tuk-tuk-replacement-still-undecided-abb-to-open-train-component-plant-in-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/tuk-tuk-replacement-still-undecided-abb-to-open-train-component-plant-in-egypt\/\",\"name\":\"Tuk-tuk replacement still undecided + ABB to open train component plant in Egypt - 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More than USD 15 mn in investments in feeder industries are at risk if the government goes ahead with the plan,\u2026","rel":"","context":"In &quot;Automotive + Transportation&quot;","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566460,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/tuk-tuk-owners-should-be-able-to-swap-their-vehicles-for-natgas-microbuses-next-month-we-have-a-price-tag-for-evs-infrastructure\/","url_meta":{"origin":546096,"position":1},"title":"Tuk-tuk owners should be able to swap their vehicles for natgas microbuses next month + we have a price tag for EVs infrastructure","author":"enterpriseam admin","date":"21 June 2021","format":false,"excerpt":"Tuk-tuk owners will soon be able to apply to the natgas transition scheme: The cabinet yesterday decided to expand the Finance Ministry\u2019s natgas transition scheme to include tuk-tuk owners, who should be able to apply to swap out their vehicles for natgas-powered microbuses as of next month, the Finance Ministry\u2019s\u2026","rel":"","context":"In &quot;SPEED ROUND: ENERGY&quot;","block_context":{"text":"SPEED ROUND: ENERGY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/547.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594184,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/22\/egypt-halts-tuk-tuk-licenses-moves-forward-with-plan-to-replace-three-wheeled-vehicles-with-gas-run-minivans\/","url_meta":{"origin":546096,"position":2},"title":"Egypt halts tuk-tuk licenses, moves forward with plan to replace three-wheeled vehicles with gas-run minivans","author":"enterpriseam admin","date":"22 October 2019","format":false,"excerpt":"Local development ministry pushing plan to replace three-wheeled vehicles with gas-run minivans: The Local Development Ministry is reportedly pushing ahead with a recent decision to stop issuing licenses for tuk-tuks (we\u2019d argue they already weren\u2019t issuing them, full stop) and replace them with minivans that run on natural gas, Youm7\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594781,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/08\/madbouly-tuk-tuks-are-out-natgas-operated-minivans-are-in\/","url_meta":{"origin":546096,"position":3},"title":"Madbouly: Tuk-tuks are out, natgas-operated minivans are in","author":"enterpriseam admin","date":"8 September 2019","format":false,"excerpt":"The next phase in the war on tuk-tuks: Prime Minister Moustafa Madbouly launched on Thursday a project that will replace tuk-tuks with minivans that run on natural gas \u2014 what he perceives to be a safer method of transportation, according to an official statement. The Finance Ministry will be in\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602272,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/24\/did-the-government-have-another-change-of-heart-on-egypts-tuk-tuks\/","url_meta":{"origin":546096,"position":4},"title":"Did the government have (another) change of heart on Egypt\u2019s tuk-tuks?","author":"enterpriseam admin","date":"24 March 2019","format":false,"excerpt":"Did the government have (another) change of heart on tuk-tuks? Egypt\u2019s governors are looking into issuing public transport licenses for seven-seater minivans as a replacement for three-wheeled tuk-tuks and plan to push the minivans as alternatives for tuk-tuk drivers, according to a Cabinet statement. The Local Development Ministry will look\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594889,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/10\/finmin-to-study-govt-tuk-tuk-plan-over-the-coming-three-weeks\/","url_meta":{"origin":546096,"position":5},"title":"FinMin to study gov\u2019t tuk-tuk plan over the coming three weeks","author":"enterpriseam admin","date":"10 September 2019","format":false,"excerpt":"The Finance Ministry is going to \u201cstudy\u201d the government\u2019s plans to replace tuk-tuks with minivans, Minister Mohamed Maait said yesterday, according to Al Masry Al Youm. Prime Minister Moustafa Madbouly said last week the government plans to crack down on the three-wheelers by having tuk-tuk manufacturers switch their production lines\u2026","rel":"","context":"In &quot;Automotive + Transportation&quot;","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546096"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546096\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546077"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546096"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546096"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}