{"id":549340,"date":"2022-09-13T04:00:52","date_gmt":"2022-09-13T04:00:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/13\/businesses-are-losing-tens-of-mns-of-usd-a-day-due-to-the-import-crisis-says-mohamed-elsewedy\/"},"modified":"2022-09-13T04:00:52","modified_gmt":"2022-09-13T04:00:52","slug":"businesses-are-losing-tens-of-mns-of-usd-a-day-due-to-the-import-crisis-says-mohamed-elsewedy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/13\/businesses-are-losing-tens-of-mns-of-usd-a-day-due-to-the-import-crisis-says-mohamed-elsewedy\/","title":{"rendered":"Businesses are losing \u201ctens of mns of USD\u201d a day due to the import crisis, says Mohamed Elsewedy"},"content":{"rendered":"

<\/a> It was a mixed bag on the airwaves last night<\/strong>, with the potential revival of the government\u2019s IPO program (more on that above), the ongoing crisis at Egyptian ports, and the rise in education financing in Egypt all getting a look in.<\/p>\n

Businesses are losing \u201ctens of mns of USD\u201d a day<\/strong> due to the bottlenecks at Egyptian ports caused by import restrictions imposed by former central bank governor Tarek Amer, Federation of Egyptian Industries (FEI) head Mohamed El Sewedy told Kelma Akhira\u2019s Lamees El Hadidi (watch, runtime: 6:24<\/a>), warning that many could shutter if the crisis continues. \u201cSurely, some factories would be at risk of suspending operations. Not all factories can weather losses of a month or two,\u201d he said, urging authorities to speed up the release of shipments stuck at ports. His statements come despite the government rolling out late last month<\/a> a basket of measures to clear shipments that have been held up at customs.<\/p>\n

Just like trying to score [redacted]:<\/strong> The head of the Dentists\u2019 Syndicate, Ehab Heikal, described a shortage in local anesthetics as similar to \u201cgetting [illegal substances],\u201d describing the growth of a black market which he blamed on a a shortage in local production, import restrictions, and corruption in distribution lines. [Editor\u2019s note:<\/strong> We\u2019re writing around words that would otherwise see our email sent to a bad folder from which it will not emerge.]<\/p>\n

On the agenda of the government economic conference taking place toward the end of <\/strong>this month:<\/strong> Localizing industries and boosting exports, Prime Minister Moustafa Madbouly told FEI representatives<\/a> in a meeting yesterday. Industry figures presented several proposals to the PM to support domestic industry, according to a cabinet statement<\/a> which didn\u2019t elaborate. Al Hayah Al Youm had coverage (watch, runtime: 2:06<\/a>).<\/p>\n

Madbouly + Abdalla meet again:<\/strong> The PM held another round of talks with the acting governor of the Central Bank of Egypt, Hassan Abdalla. On the agenda: monetary policy, talks with the IMF on an assistance package, and the economic conference, cabinet said<\/a>, again without providing many details. Ala Masouleety had coverage (watch, runtime: 3:07<\/a>).<\/p>\n

E<\/strong>ducation financing is booming:<\/strong> El Hadidi talked to Ahmed Hashem, CCO at EFG Hermes\u2019 valU (watch, runtime: 0:48<\/a>), and Contact Financial Holding\u2019s Tamer Samir (watch, runtime:<\/a>4:33<\/a>) to discuss the growth of consumer finance providers in the education space.<\/p>\n

Amendments to a law providing a framework to settle building code violations is set to <\/strong>be finalized by the Cabinet <\/strong>before the end of September<\/strong>, cabinet spokesman Nader Saad told Salet El Tahrir (watch, runtime: 6:35<\/a>). When approved, the amendments would be referred to the House of Representatives when it returns from its summer recess.<\/p>\n","protected":false},"excerpt":{"rendered":"

It was a mixed bag on the airwaves last night, with the potential revival of the government\u2019s IPO program (more on that above), the ongoing crisis at Egyptian ports, and the rise in education financing in Egypt all getting a look in. Businesses are losing \u201ctens of mns of USD\u201d a day due to the […]<\/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":[7232],"tags":[7195,271,73,72,2276,7196,106,281,595],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549340","post","type-post","status-publish","format-standard","hentry","category-last-nights-talk-shows","tag-building-code","tag-central-bank-of-egypt","tag-education","tag-enterpriseam","tag-hassan-abdalla","tag-industry","tag-last-nights-talk-shows","tag-moustafa-madbouly","tag-non-banking-financial-services","wpautop","entry"],"acf":{"mongo_id":"45ae6db2-da22-4fb6-9b28-1017310e9890","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[549330],"teaser":"","voice_url":""},"yoast_head":"\nBusinesses are losing \u201ctens of mns of USD\u201d a day due to the import crisis, says Mohamed Elsewedy - 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\/09\/13\/businesses-are-losing-tens-of-mns-of-usd-a-day-due-to-the-import-crisis-says-mohamed-elsewedy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Businesses are losing \u201ctens of mns of USD\u201d a day due to the import crisis, says Mohamed Elsewedy\" \/>\n<meta property=\"og:description\" content=\"It was a mixed bag on the airwaves last night, with the potential revival of the government\u2019s IPO program (more on that above), the ongoing crisis at Egyptian ports, and the rise in education financing in Egypt all getting a look in. Businesses are losing \u201ctens of mns of USD\u201d a day due to the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/13\/businesses-are-losing-tens-of-mns-of-usd-a-day-due-to-the-import-crisis-says-mohamed-elsewedy\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-13T04:00:52+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\/09\/13\/businesses-are-losing-tens-of-mns-of-usd-a-day-due-to-the-import-crisis-says-mohamed-elsewedy\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/13\/businesses-are-losing-tens-of-mns-of-usd-a-day-due-to-the-import-crisis-says-mohamed-elsewedy\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Businesses are losing \u201ctens of mns of USD\u201d a day due to the import crisis, says Mohamed Elsewedy\",\"datePublished\":\"2022-09-13T04:00:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/13\/businesses-are-losing-tens-of-mns-of-usd-a-day-due-to-the-import-crisis-says-mohamed-elsewedy\/\"},\"wordCount\":459,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"building code\",\"Central Bank of Egypt\",\"Education\",\"EnterpriseAM\",\"Hassan Abdalla\",\"industry\",\"LAST NIGHT\u2019S TALK SHOWS\",\"Moustafa Madbouly\",\"non-banking financial services\"],\"articleSection\":[\"LAST NIGHT\u2019S TALK SHOWS\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/13\/businesses-are-losing-tens-of-mns-of-usd-a-day-due-to-the-import-crisis-says-mohamed-elsewedy\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/13\/businesses-are-losing-tens-of-mns-of-usd-a-day-due-to-the-import-crisis-says-mohamed-elsewedy\/\",\"name\":\"Businesses are losing \u201ctens of mns of USD\u201d a day due to the import crisis, says Mohamed Elsewedy - 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Education Ministry Spokesman Shady Zalata hit the airwaves to discuss the incident, holding phone-ins with\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603403,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/egypts-talking-heads-have-a-message-for-you-tens-of-mns-are-voting-in-constitutional-referendum\/","url_meta":{"origin":549340,"position":1},"title":"Egypt\u2019s talking heads have a message for you: tens of mns are voting in constitutional referendum","author":"enterpriseam admin","date":"22 April 2019","format":false,"excerpt":"The second day of voting on the proposed constitutional amendments was by far the most popular topic on the airwaves last night. What the TV media is trying to tell you: The referendum has seen \u201cunusually high turnout\u201d (the phrase cropped up multiple times). The final voting day for Egyptian\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549635,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/25\/last-nights-talk-shows-all-about-the-cbe\/","url_meta":{"origin":549340,"position":2},"title":"Last Night\u2019s Talk Shows: All about the CBE","author":"enterpriseam admin","date":"25 September 2022","format":false,"excerpt":"The Central Bank of Egypt\u2019s decision to leave interest rates unchanged dominated the airwaves over the weekend. We have the full story in this morning\u2019s news well, above.Who\u2019s celebrating? Unchanged rates is good news for the state budget, seeing as every rate hike comes bearing massive costs \u2014 a 100\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578401,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/27\/last-nights-talk-shows-banks-to-secure-fx-to-clear-import-backlog-within-4-days-says-el-sisi\/","url_meta":{"origin":549340,"position":3},"title":"Last Night\u2019s Talk Shows: Banks to secure FX to clear import backlog within 4 days, says El Sisi","author":"enterpriseam admin","date":"27 December 2022","format":false,"excerpt":"It was another econ-heavy night on the airwaves, this time centered on President Abdel Fattah El Sisi\u2019s speech during a factory inauguration ceremony in Abu Rawash and his promise to help clear our backlogged ports soon.Banks to secure FX for letters of credit to help clear import backlogs? El Sisi\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/550.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549040,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/31\/maait-extends-media-blitz-for-a-second-day\/","url_meta":{"origin":549340,"position":4},"title":"Maait extends media blitz for a second day","author":"enterpriseam admin","date":"31 August 2022","format":false,"excerpt":"We tuned into another episode of Maait TV last night: Finance Minister Mohamed Maait joined Ala Mas\u2019ouleety (watch, runtime: 1:13:34) last night for a long, extensive interview to discuss the economy, the measures taken yesterday to release goods stuck in ports, and of course, fake news.First thing\u2019s first, more targets:\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543759,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/16\/last-nights-talk-shows-the-great-debate-over-import-letters-of-credit\/","url_meta":{"origin":549340,"position":5},"title":"Last Night\u2019s Talk Shows: The great debate over import letters of credit","author":"enterpriseam admin","date":"16 February 2022","format":false,"excerpt":"Industry officials and banking experts spoke up on the airwaves last night about the CBE\u2019s new import rules, after the bank announced it would not amend its decision requiring importers to get letters of credit (L\/Cs) for their purchases despite complaints from importers. Head of the Egyptian Businessmen\u2019s Association Ali\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"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\/549340","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=549340"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549340\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549330"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549340"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549340"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}