{"id":550366,"date":"2022-10-25T04:01:07","date_gmt":"2022-10-25T04:01:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/this-morning-its-the-third-and-final-day-of-the-states-econ-conference\/"},"modified":"2022-10-25T04:01:07","modified_gmt":"2022-10-25T04:01:07","slug":"this-morning-its-the-third-and-final-day-of-the-states-econ-conference","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/this-morning-its-the-third-and-final-day-of-the-states-econ-conference\/","title":{"rendered":"THIS MORNING: It\u2019s the third and final day of the state\u2019s econ conference"},"content":{"rendered":"

Good morning, wonderful people, and welcome to another busy issue of EnterpriseAM, <\/strong>where the news agenda is still being driven by the government\u2019s economic conference. <\/strong>The third and final day gets underway this morning; we have coverage of yesterday\u2019s discussions as well as a rundown on what you can expect today.<\/p>\n

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>\n

BUT FIRST- We\u2019re intensely grateful for the torrent of email and messages still coming in about our <\/strong>five-step plan to build a new Egyptian economy based on exports and FDI<\/a><\/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>\n

<\/a> 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. 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. If other countries have done it, there\u2019s no reason why we can\u2019t<\/strong>.\u201d (watch, runtime: 8:21<\/a>).<\/p>\n

And thank you to the wonderful Mohamed Abu Basha for reminding everyone of the <\/strong>importance of <\/strong>targeting specific industries<\/a><\/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 perfect moment to capture a piece of the global supply chain<\/strong> that is up for grabs amid a worldwide economic realignment.<\/p>\n

HAPPENING TODAY-<\/strong><\/p>\n

<\/a> Day 3 of the economic conference is all about industry: <\/strong>Finance Minister Mohamed Maait<\/strong>, CBE governor Hassan Abdalla<\/strong>, and Trade and Industry Minister Samir 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>\n

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>\n

There may also be a chance we\u2019ll see a new (and final?) draft today of the state <\/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>\n

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 Gas Exporting Countries Forum<\/a>.<\/p>\n

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 Reuters<\/a>. This year\u2019s edition will see major representation by top Wall Street executives as well as business leaders.<\/p>\n

Riyadh wants a piece of the global supply chain that we\u2019re chasing.<\/strong> As we noted yesterday in 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 SPA<\/a> reported Sunday. The initiative will see it establish new special economic zones, it said.<\/p>\n

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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 the National Institute for Astronomical and Geophysical Research<\/a>. And remember:<\/strong> Be like this<\/a>. Not like this<\/a>.<\/p>\n

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 saying<\/a> there\u2019s a 40% chance that rain in the north of the country could spread to the capital by the evening.<\/p>\n

PSA #3- There are new versions of macOS and iPadOS to download this morning<\/strong>, weeks after iOS 16 rolled out on iPhones.<\/p>\n

What do they offer? <\/strong>The Ventura version of<\/a>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. 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>\n

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>\n

How do you get them?<\/strong><\/p>\n