{"id":561186,"date":"2021-03-29T03:46:34","date_gmt":"2021-03-29T03:46:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/the-latest-on-eastern-co\/"},"modified":"2021-03-29T03:46:34","modified_gmt":"2021-03-29T03:46:34","slug":"the-latest-on-eastern-co","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/the-latest-on-eastern-co\/","title":{"rendered":"The latest on Eastern Co."},"content":{"rendered":"

<\/a> New, more competitive terms for <\/strong>the license<\/a><\/strong> to establish Egypt\u2019s second major <\/strong>tobacco company could be introduced<\/strong> after several tobacco players filed a formal complaint with the Federation of Egyptian Industries\u2019 tobacco division. The complaint looks to scrap the conditions booklet the Industrial Development Authority (IDA) had issued for the license auction, head of the Division Ibrahim Imbaby told Al Shorouk<\/a>. The companies also want to see an independent committee bringing together the finance and public enterprises ministries, the Egyptian Competition Authority (ECA), the IDA and the Tobacco Division to lay down guidelines for the new conditions booklet, Imbaby added.<\/p>\n

The complaint follows a <\/strong>separate grievance<\/a><\/strong> that tobacco players reportedly filed with the ECA<\/strong> last week over allegations of antitrust practices, arguing that the new company\u2019s effective monopoly on e-cigarettes and heated tobacco would be a breach of the Competition Protection Act.<\/p>\n

Background: <\/strong>The IDA issued almost two week agos a tender for the license, which would (sort of) end Eastern\u2019s monopoly on the tobacco industry. The authority invited several local and international players to compete in the tender, the results of which will be based on a point-count system<\/a>. Current state-owned monopoly Eastern Company would own 24% of the new entrant, which would also be required to price its popular brands 50% higher than Eastern\u2019s. So far, an unnamed Emirati bidder has reportedly expressed interest. Foreign players are lobbying for a two-month extension on the deadline for bids, which is set on Sunday, 4 April, to allow time for technical and feasibility studies \u2014 and also wait for possible change to the tender\u2019s terms.<\/p>\n","protected":false},"excerpt":{"rendered":"

New, more competitive terms for the license to establish Egypt\u2019s second major tobacco company could be introduced after several tobacco players filed a formal complaint with the Federation of Egyptian Industries\u2019 tobacco division. The complaint looks to scrap the conditions booklet the Industrial Development Authority (IDA) had issued for the license auction, head of 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":[8787],"tags":[2114,1978,247,549,72,916,3849,289,3048,3040,7401],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561186","post","type-post","status-publish","format-standard","hentry","category-competition-watch","tag-british-american-tobacco-egypt","tag-competition-watch","tag-eastern-company","tag-egyptian-competition-authority","tag-enterpriseam","tag-federation-of-egyptian-industries","tag-imperial-tobacco","tag-industrial-development-authority","tag-jti-nakhla-tobacco","tag-mansour-group","tag-tobacco","wpautop","entry"],"acf":{"mongo_id":"ffc1052f-8eb7-40e9-942a-4dae46ce0b3b","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[561175],"teaser":"","voice_url":""},"yoast_head":"\nThe latest on Eastern Co. - 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\/2021\/03\/29\/the-latest-on-eastern-co\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The latest on Eastern Co.\" \/>\n<meta property=\"og:description\" content=\"New, more competitive terms for the license to establish Egypt\u2019s second major tobacco company could be introduced after several tobacco players filed a formal complaint with the Federation of Egyptian Industries\u2019 tobacco division. 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Two industry sources who spoke\u2026","rel":"","context":"In "SPEED ROUND: COMPETITION WATCH"","block_context":{"text":"SPEED ROUND: COMPETITION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-competition-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/350.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561328,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/04\/up-in-smoke\/","url_meta":{"origin":561186,"position":1},"title":"Up in smoke","author":"enterpriseam admin","date":"4 April 2021","format":false,"excerpt":"Egypt puts tender for tobacco license on ice: The Industrial Development Authority (IDA) has shelved a tender for a license to set up Egypt\u2019s second tobacco company, two unnamed industry sources told Reuters. The bidding round was slated to be held this Tuesday. Companies were informed about the decision one\u2026","rel":"","context":"In "COMPETITION WATCH"","block_context":{"text":"COMPETITION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/competition-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558237,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/02\/good-news-for-fdi-watchers\/","url_meta":{"origin":561186,"position":2},"title":"Good news for FDI watchers","author":"enterpriseam admin","date":"2 August 2021","format":false,"excerpt":"Tobacco giant Philip Morris is among several tobacco companies with local operations that are said to be interested in bidding for a license to set up Egypt\u2019s second tobacco company, Federation of Egyptian Industries\u2019 (FEI) cigarettes division Head Ibrahim Embaby told Al Mal. The period during which companies could submit\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/51.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563687,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/13\/tobacco-license-tender-to-be-rolled-out-on-1-august\/","url_meta":{"origin":561186,"position":3},"title":"Tobacco license tender to be rolled out on 1 August","author":"enterpriseam admin","date":"13 July 2021","format":false,"excerpt":"Tobacco license tender goes live in August: Tobacco players will be able to bid for a license to establish Egypt\u2019s second major tobacco company from 1 August in the second iteration of a tender that was pulled earlier this year after attracting criticism for containing unfair terms, Al Shorouk reports.\u2026","rel":"","context":"In "COMPETITION WATCH"","block_context":{"text":"COMPETITION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/competition-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/182.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561906,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/26\/smoke-em-if-youve-got-em\/","url_meta":{"origin":561186,"position":4},"title":"Smoke \u2018em if you\u2019ve got \u2018em","author":"enterpriseam admin","date":"26 April 2021","format":false,"excerpt":"New rules for the license to establish Egypt\u2019s second major tobacco company are now officially being drawn up by the government, a month after several tobacco players filed a formal complaint asking the state to rewrite the conditions booklet, the local press reports, citing anonymous government sources. Advisors are working\u2026","rel":"","context":"In "COMPETITION WATCH"","block_context":{"text":"COMPETITION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/competition-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553523,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/07\/tobacco-tender-is-back-on\/","url_meta":{"origin":561186,"position":5},"title":"Tobacco tender is back on","author":"enterpriseam admin","date":"7 December 2021","format":false,"excerpt":"Bringing a new tobacco competitor into the market, take three: The Industrial Development Authority (IDA) has relaunched a tender for a license to manufacture cigarettes, potentially ending the historical monopoly by state-owned Eastern Company, Masrawy reports. 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