{"id":576208,"date":"2020-11-16T03:58:57","date_gmt":"2020-11-16T03:58:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/16\/raft-of-new-investments-bodes-well-for-short-term-recovery\/"},"modified":"2020-11-16T03:58:57","modified_gmt":"2020-11-16T03:58:57","slug":"raft-of-new-investments-bodes-well-for-short-term-recovery","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/16\/raft-of-new-investments-bodes-well-for-short-term-recovery\/","title":{"rendered":"Raft of new investments bodes well for short-term recovery"},"content":{"rendered":"

<\/a> INVESTMENT WATCH- A run of news that suggests we\u2019re turning a corner? <\/strong>In a stark contrast this summer\u2019s<\/a> news of frozen CAPEX spending and investments being put on hold, we\u2019re seeing a spate of announcements on new investment, expansion, and CAPEX spending in the past week. The trend is in line with indicators including the PMI reading for October<\/a>, which showed Egypt\u2019s non-oil private growing at its strongest rate since December 2014. The Central Bank of Egypt\u2019s surprise 50 bps interest rate cut<\/a> last week will only help this trend once we\u2019re into 2021.<\/p>\n

Yesterday\u2019s good news includes:<\/p>\n

UK-based wholesale orange company <\/strong>Orange Be Global<\/a><\/strong> is investing USD 300 mn in an<\/strong> ongoing project in El Wadi El Gedid Governorate<\/strong>, supply ministry official Ibrahim Ashmawy told Al Mal<\/a>. The project involves the acquisition of orange farms and the production of orange juice Valencia NFC at the company\u2019s facilities, according to the company\u2019s website. The company will partner with a local firm that will hold a 20-30% stake in the project, Ashmawy added.<\/p>\n

Raya Holding\u2019s Haier Raya Electric has broken ground on a EGP 200 mn air conditioner<\/strong> plant <\/strong>in the Sixth of October industrial zone, Al Mal reports<\/a>, citing sources it says are familiar with the project. The company has so far spent over EGP 120 mn preparing the plant, which is expected to be up and running at the beginning of 2021. The plant will use over 60% locally-sourced materials in assembly when it gets underway, with plans to increase local components in the future. Raya signed a partnership agreement with China\u2019s Haier Electric for the project earlier this year<\/a>.<\/p>\n

This comes as Raya Contact Center is eyeing an expansion into North America and<\/strong> hopes to make an investment during 2021<\/strong>, investor relations head Karim Seoudi tells the local press<\/a>. Seoudi did not give further detail on the potential acquisitions, but said the company has yet to make an offer. He added that Raya are keen on continuing their regional expansion by tapping into Saudi Arabia\u2019s large outsourcing market. The company announced last month<\/a> it had made an offer for a controlling stake in an unnamed Gulf-based call center company with offices in 3 GCC countries as part of its regional expansion. Raya currently runs foreign branches in Dubai and Poland.<\/p>\n

Food manufacturer Domty, meanwhile, is adding a USD 500k dairy packaging line to its<\/strong> factory<\/strong>, the company said in a regulatory filing (pdf)<\/a>. The line, which Domty will purchase under an agreement signed with Tetra Pak, is planned to begin operations halfway through 1Q2021. It comes as part of the company\u2019s strategy to extend its operations into different food products. Domty invested EGP 75 mn<\/a> in a baked goods and a mozzarella cheese production line this year.<\/p>\n

In other expansion news, pharma company <\/strong>Sabaa International Company<\/a><\/strong> is planning to<\/strong> add four new production lines<\/strong>, doubling its existing production, and is also looking into acquiring other pharma manufacturers as part of an expansion plan, Sabaa head of business development, Ramy El Hendawy, told Al Mal<\/a>.<\/p>\n

Dubai Investments is considering setting up an investment park in Fayoum\u2019s<\/strong> Kom Oshim<\/strong>, the Trade and Industry Ministry said in a statement<\/a> following a meeting between Minister Nevine Gamea and the company\u2019s CEO, Khalid Bin Kalban. We\u2019re not entirely sure what this might look like, but look at the firm\u2019s Dubai Investments Park<\/a> for clues \u2014 it houses mixed-use industrial and commercial units and has attracted some USD 22 bn of investment.<\/p>\n

And it\u2019s not looking bad for tourism FDI either, with<\/strong> Indian hospitality chain <\/strong>Oyo<\/a><\/strong> is planning<\/strong> to enter the Egyptian market <\/strong>as part of its Middle East expansion, sources told Arabian Business<\/a>. The franchise is said to be in discussion with potential local partners, though no further details on the timeline or value of the investment were given. Oyo currently runs hotels and vacation homes in 80 countries worldwide and four in the Middle East, including the UAE, Saudi Arabia, Oman, and Bahrain.<\/p>\n","protected":false},"excerpt":{"rendered":"

INVESTMENT WATCH- A run of news that suggests we\u2019re turning a corner? In a stark contrast this summer\u2019s news of frozen CAPEX spending and investments being put on hold, we\u2019re seeing a spate of announcements on new investment, expansion, and CAPEX spending in the past week. The trend is in line with indicators including the […]<\/p>\n","protected":false},"author":1,"featured_media":576209,"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":[8572],"tags":[1598,72,955,125,6215,9961,1879,614,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-576208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-domty","tag-enterpriseam","tag-hospitality","tag-investment-watch","tag-orange-be-global","tag-oyo","tag-raya-contact-center","tag-raya-holding","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"77e5f976-0a11-4547-b842-b6f84f434d61","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/11\/160.jpg","photo_position":"above","related_issue":[576203],"teaser":"","voice_url":""},"yoast_head":"\nRaft of new investments bodes well for short-term recovery - 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\/2020\/11\/16\/raft-of-new-investments-bodes-well-for-short-term-recovery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Raft of new investments bodes well for short-term recovery\" \/>\n<meta property=\"og:description\" content=\"INVESTMENT WATCH- A run of news that suggests we\u2019re turning a corner? In a stark contrast this summer\u2019s news of frozen CAPEX spending and investments being put on hold, we\u2019re seeing a spate of announcements on new investment, expansion, and CAPEX spending in the past week. The trend is in line with indicators including the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/16\/raft-of-new-investments-bodes-well-for-short-term-recovery\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-16T03:58:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/160.jpg?fit=%2C&ssl=1\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/16\/raft-of-new-investments-bodes-well-for-short-term-recovery\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/16\/raft-of-new-investments-bodes-well-for-short-term-recovery\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Raft of new investments bodes well for short-term recovery\",\"datePublished\":\"2020-11-16T03:58:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/16\/raft-of-new-investments-bodes-well-for-short-term-recovery\/\"},\"wordCount\":674,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/16\/raft-of-new-investments-bodes-well-for-short-term-recovery\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/11\/160.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Domty\",\"EnterpriseAM\",\"hospitality\",\"investment watch\",\"Orange Be Global\",\"OYO\",\"Raya Contact Center\",\"Raya Holding\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/16\/raft-of-new-investments-bodes-well-for-short-term-recovery\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/16\/raft-of-new-investments-bodes-well-for-short-term-recovery\/\",\"name\":\"Raft of new investments bodes well for short-term recovery - 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The company\u2019s board greenlit the decision earlier this week, the disclosure says. No further details or information were provided in the disclosure and a\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-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":598953,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/businesses-eager-for-interest-rates-to-return-to-pre-float-levels-to-boost-investment\/","url_meta":{"origin":576208,"position":1},"title":"Businesses eager for interest rates to return to pre-float levels to boost investment","author":"enterpriseam admin","date":"13 June 2019","format":false,"excerpt":"EXCLUSIVE- The Enterprise business interest rate survey: How far will interest rates have to fall before big business starts borrowing to finance capex? Inflation rose unexpectedly in May, and turmoil in global markets makes it imperative Egypt remain attractive to the carry trade. Together, those factors mean sky-high interest rates\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/6\/1967.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598252,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/20\/when-will-we-see-capex-spending-pick-up\/","url_meta":{"origin":576208,"position":2},"title":"When will we see capex spending pick up?","author":"enterpriseam admin","date":"20 May 2019","format":false,"excerpt":"EXCLUSIVE- With interest rates likely to be left on hold this week, don\u2019t expect a pickup in capex spending this year. The central bank\u2019s 100 bps cut in February was a step in the right direction, but was nowhere near enough to spur capex spending by a business community stuck\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/3\/395.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596345,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/26\/interest-rate-cut-could-save-egypts-coffers-egp-15-in-debt-service\/","url_meta":{"origin":576208,"position":3},"title":"Interest rate cut could save Egypt\u2019s coffers EGP 15 in debt service","author":"enterpriseam admin","date":"26 August 2019","format":false,"excerpt":"Last week\u2019s interest rate cut could save Egypt\u2019s coffers EGP 15 bn in debt service: The Finance Ministry could spend EGP 10-15 bn less on interest it owes to investors during 2Q FY2019\/2020 after the Central Bank of Egypt (CBE) last week cut benchmark rates by 150 bps, unnamed government\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595676,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/04\/egypts-economic-conditions-could-allow-cbe-to-accelerate-easing-cycle-hc-securities\/","url_meta":{"origin":576208,"position":4},"title":"Egypt\u2019s economic conditions could allow CBE to accelerate easing cycle -HC Securities","author":"enterpriseam admin","date":"4 August 2019","format":false,"excerpt":"Egypt\u2019s economic conditions could allow CBE to accelerate easing cycle, fully reverse monetary tightening by 2020 -HC Securities: Improving economic conditions and the anticipated cool-down of inflation once the full effect of fuel subsidy cuts wear off should give the Central Bank of Egypt (CBE) enough breathing room to begin\u2026","rel":"","context":"In "Speed Round"","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":593045,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/17\/central-bank-of-egypt-cuts-interest-rates-by-100-bps\/","url_meta":{"origin":576208,"position":5},"title":"Central Bank of Egypt cuts interest rates by 100 bps","author":"enterpriseam admin","date":"17 November 2019","format":false,"excerpt":"CBE cuts rates by 100 bps, in line with market expectations: The Central Bank of Egypt\u2019s Monetary Policy (MPC) cut interest rates by 100 bps on Thursday, the CBE said in a statement (pdf). The central bank cited inflation\u2019s continued deceleration in October, with annual headline inflation hitting its lowest\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/576208","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=576208"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/576208\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/576203"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/576209"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=576208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=576208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=576208"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=576208"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=576208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}