{"id":566285,"date":"2021-06-09T13:49:03","date_gmt":"2021-06-09T13:49:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/of-poles-elaraby-and-property-taxes\/"},"modified":"2021-06-09T13:49:03","modified_gmt":"2021-06-09T13:49:03","slug":"of-poles-elaraby-and-property-taxes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/of-poles-elaraby-and-property-taxes\/","title":{"rendered":"Of Poles, Elaraby and property taxes\u2026"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Ain Sokhna could be home to a new Polish industrial zone<\/strong> spanning up to 1 mn sqm in the Suez Canal Economic Zone in the wake of an agreement signed yesterday between the SCZone and a Polish special economic zone, <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/152038803633215\">the Trade and Industry Ministry<\/a> and <a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/2074123122744628\">the SCZone<\/a> said. The zone will focus on food, electronics and car parts and would be the first foreign industrial zone in the country to be set up by an EU member state, Trade Minister Nevine Gamea said. Polish companies that previously visited Egypt had also expressed interest in the <a href=\"https:\/\/enterprise.press\/stories\/2017\/10\/30\/egyptian-delegation-meets-with-54-polish-companies\/\">energy and petrochemicals<\/a>, and <a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/05\/delegation-from-polands-asseco-in-town-for-it-investment-talks\/\">telecom<\/a> sectors.<\/p>\n<p><strong>What is this Polish SEZ?<\/strong> The SCZone signed the agreement with the president of <a href=\"https:\/\/www.invest-ksse.com\/ksse-1161\">an SEZ in<\/a><a href=\"https:\/\/www.invest-ksse.com\/ksse-1161\">Katowice<\/a>, an industrial city in south-west Poland. More than 450, <a href=\"https:\/\/www.invest-ksse.com\/about-us-2084#\">mainly automotive<\/a> businesses are currently based in the zone. Katowice SEZ was named the <a href=\"https:\/\/www.fdiintelligence.com\/article\/75879\">second-best in the world<\/a> in 2019 by the Financial Times.<\/p>\n<p><strong>This comes just as the Russians eye Sokhna: <\/strong>The Russian government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/434a2de3-e88f-4412-9b04-58b37483b324\">recently contacted<\/a> the SCZone with a view to possibly opening an industrial zone in Ain Sokhna. This would be Moscow\u2019s second in Egypt after the proposed USD 7 bn, 5.25 mn sqm <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/24\/egypt-and-russia-finally-sign-contracts-for-usd-7-bn-riz\/\">Russian Industrial Zone<\/a> (RIZ) <a href=\"https:\/\/bit.ly\/3zeATPE\">in East Port Said<\/a>, which is also part of the SCZone.<\/p>\n<p><strong>OTHER MANUFACTURING NEWS- <\/strong><\/p>\n<p><strong>Elaraby Group plans to establish in 2022 an industrial complex for household <\/strong><strong>appliances,<\/strong> its second in Quesna, Menuofia, bringing its total nationwide to five<sup><\/sup>, CEO Mohamed El Araby said at a public event, according to <a href=\"https:\/\/bit.ly\/3itqYQA\">Al Mal<\/a>.<\/p>\n<p><strong>The group also plans to establish three factories in its <\/strong><strong>Beni <\/strong><strong>Suef complex next year<\/strong> to manufacture washing machines, motors and fans. The complex currently includes five operational factories with investments of c. EGP 2 bn. The group inaugurated in May its newest <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19e63cfc-55ce-45cc-980a-0525ac18c4ea\">kitchen appliances factory<\/a> in Qalyub, with an estimated annual production capacity of 500k units.<\/p>\n<p><strong>Ambitious growth targets<\/strong>: Elaraby aims to generate EGP 22 bn in sales in 2021, El Araby said, the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4c0cf89f-ea22-41d3-8310-2e6b7a332acc\">same figure targeted<\/a> last year, the CEO noted. The group will also aim to export appliances worth USD 250 mn by the end of this year \u2014 and to raise the value of its annual exports to USD 500 mn within five years, the CEO said.<\/p>\n<p><strong>IN MANUFACTURING REGULATION NEWS- <\/strong><\/p>\n<p><strong>Manufacturers could be getting a breather from high property taxes <\/strong>after President Abdel Fattah El Sisi instructed state officials to calculate taxes based on the construction cost of a given factory instead of its market value, Trade Minister Nevine Gamea told <a href=\"https:\/\/bit.ly\/3x7FK3p\">Hapi Journal<\/a>. A proposal to move forward with this plan will be on the agenda during a meeting of cabinet\u2019s economic group scheduled for tomorrow, and comes <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6cd58fa0-c48e-4751-b9fe-777df2347fac\">amid calls<\/a> from manufacturers and exporters to scrap the real estate tax on factories altogether.<\/p>\n<p><strong>Also on the agenda in tomorrow\u2019s meeting:<\/strong> A more favorable timeline for businesses to remit value added taxes (VAT), and measures to reduce the time needed for goods to be released from ports, Gamea added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ain Sokhna could be home to a new Polish industrial zone spanning up to 1 mn sqm in the Suez Canal Economic Zone in the wake of an agreement signed yesterday between the SCZone and a Polish special economic zone, the Trade and Industry Ministry and the SCZone said. The zone will focus on food, [&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":[10153],"tags":[144,214,168,93,633,125,131,705,1243,100,83,416,69,7110],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566285","post","type-post","status-publish","format-standard","hentry","category-speed-round-manufacturing","tag-automotive","tag-cit","tag-diplomacy","tag-energy","tag-enterprisepm","tag-investment-watch","tag-manufacturing","tag-petrochemicals","tag-poland","tag-policy","tag-real-estate","tag-suez-canal-economic-zone","tag-tax","tag-vat","wpautop","entry"],"acf":{"mongo_id":"ec19679e-3076-42fb-9a34-718c1d4fafe4","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[566279],"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>Of Poles, Elaraby and property taxes\u2026 - 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\/06\/09\/of-poles-elaraby-and-property-taxes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Of Poles, Elaraby and property taxes\u2026\" \/>\n<meta property=\"og:description\" content=\"Ain Sokhna could be home to a new Polish industrial zone spanning up to 1 mn sqm in the Suez Canal Economic Zone in the wake of an agreement signed yesterday between the SCZone and a Polish special economic zone, the Trade and Industry Ministry and the SCZone said. The zone will focus on food, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/of-poles-elaraby-and-property-taxes\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-09T13:49:03+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\/2021\/06\/09\/of-poles-elaraby-and-property-taxes\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/of-poles-elaraby-and-property-taxes\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Of Poles, Elaraby and property taxes\u2026\",\"datePublished\":\"2021-06-09T13:49:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/of-poles-elaraby-and-property-taxes\/\"},\"wordCount\":491,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"automotive\",\"CIT\",\"DIPLOMACY\",\"energy\",\"EnterprisePM\",\"investment watch\",\"Manufacturing\",\"petrochemicals\",\"Poland\",\"policy\",\"real estate\",\"Suez Canal Economic Zone\",\"tax\",\"VAT\"],\"articleSection\":[\"SPEED ROUND: MANUFACTURING\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/of-poles-elaraby-and-property-taxes\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/of-poles-elaraby-and-property-taxes\/\",\"name\":\"Of Poles, Elaraby and property taxes\u2026 - 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The announcement came at the minister\u2019s meeting with a delegation from Poland\u2019s\u2026","rel":"","context":"In &quot;Diplomacy + Foreign Trade&quot;","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":644956,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/what-were-tracking-this-week-151\/","url_meta":{"origin":566285,"position":1},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"9 July 2017","format":false,"excerpt":"A delegation from Poland\u2019s Pomeranian Special Economic Zone (PSEZ) will be in Egypt for a four-day visit to discuss establishing an industrial zone in the Suez Canal Economic Zone (SCZone), Al Shorouk reports. Delegation members are set to meet with Trade and Industry Minister Tarek Kabil and Suez Canal Economic\u2026","rel":"","context":"In &quot;What We\u2019re Tracking This Week&quot;","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645178,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/13\/polish-automotive-plastics-manufacturer-boryszew-looking-to-establish-first-factory-in-egypt\/","url_meta":{"origin":566285,"position":2},"title":"Polish automotive plastics manufacturer Boryszew looking to establish first factory in Egypt","author":"enterpriseam admin","date":"13 July 2017","format":false,"excerpt":"Polish automotive plastics manufacturer Boryszew is looking to establish its first factory in Egypt soon, International Cooperation Minister Sahar Nasr said yesterday at a meeting with a Polish business delegation visiting Cairo. No details were offered as to the size and scope of the investment. The delegation told her that\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":626415,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/02\/carbon-holdings-signs-contracts-for-its-usd-10-9-bn-petrochemicals-facility\/","url_meta":{"origin":566285,"position":3},"title":"Carbon Holdings signs contracts for its USD 10.9 bn petrochemicals facility","author":"enterpriseam admin","date":"2 July 2018","format":false,"excerpt":"INVESTMENT WATCH- Carbon Holdings signs contracts for its USD 10.9 bn petrochemicals complex: Carbon Holdings signed on Saturday contracts with the Suez Canal Authority and a host of service providers and technical partners, kicking off its USD 10.9 bn petrochemicals facility known as Tahrir Petrochemicals Corporation (TPC). The 5 mn\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":645658,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/26\/afreximbank-sczone-heads-discuss-establishing-african-investment-zone\/","url_meta":{"origin":566285,"position":4},"title":"Afreximbank, SCZone heads discuss establishing African investment zone","author":"enterpriseam admin","date":"26 July 2017","format":false,"excerpt":"Suez Canal Economic Zone (SCZone) head Mohab Mamish met yesterday with Afreximbank President Benedict Oramah to discuss establishing an African investment zone in the SCZone, Al Shorouk reports. The new area would import raw materials from Africa and re-export them to Europe and Asia. Oramah said the bank is prepared\u2026","rel":"","context":"In &quot;Diplomacy + Foreign Trade&quot;","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":626485,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/03\/egypt-poland-sign-cooperation-agreements-discuss-potential-polish-industrial-zone\/","url_meta":{"origin":566285,"position":5},"title":"Egypt, Poland sign cooperation agreements, discuss potential Polish industrial zone","author":"enterpriseam admin","date":"3 July 2018","format":false,"excerpt":"Egypt, Poland sign banking, trade cooperation agreements, discuss potential Polish investment zone: The National Bank of Egypt and the Export Development Bank of Egypt signed yesterday a cooperation agreement with Polish development bank BGK that will see the three banks finance joint projects, according to a Trade Ministry statement. Egyptian\u2026","rel":"","context":"In &quot;Diplomacy + Foreign Trade&quot;","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"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\/566285","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=566285"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566285\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566279"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566285"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566285"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}