{"id":586333,"date":"2023-05-09T00:00:00","date_gmt":"2023-05-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/09\/this-evening-maait-delivers-budget-statement-at-the-house\/"},"modified":"2023-05-09T00:00:00","modified_gmt":"2023-05-09T00:00:00","slug":"this-evening-maait-delivers-budget-statement-at-the-house","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/09\/this-evening-maait-delivers-budget-statement-at-the-house\/","title":{"rendered":"THIS EVENING: Maait delivers budget statement at the House"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good afternoon, ladies and gentlemen, and welcome to a busy hump day<\/span><span style=\"\"> here in Omm El<\/span><span style=\"font-weight:400;\"> Donia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/5\/470.jpg?ssl=1\"\/><\/a><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We\u2019re only six days away from meeting with some of you at the Enterprise Exports and <\/span><span style=\"font-weight:700\">FDI Forum,<\/span><span> taking place at the Four Seasons at the Nile Plaza on<\/span><span style=\"font-weight:700\"> Monday, 15 May. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We\u2019re proud to announce that our friend Mark Wyllie<\/span><span>, <\/span><span style=\"font-weight:700\">CEO of Beyti, is joining us for the forum. Are you?<\/span><span> Mark Wyllie is going to be speaking at the forum about the foundations of setting up an FDI strategy. He is joined on stage for that discussion by <\/span><span style=\"font-weight:700\">Hossam Sallab<\/span><span>, CEO and vice-chairman of Sallab Group and Royal Ceramica and <\/span><span style=\"font-weight:700\">Kareem Abou Ghaly<\/span><span style=\"font-weight:400;\">, chairman and CEO of Pasta Regina who will share their playbook on how to create an export-oriented business.<br \/><\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">They\u2019re not the only ones:<\/span><span> Among the CEOs, top execs, bankers, and development finance folks speaking at the conference are: <\/span><span style=\"font-weight:700\">Tarek Kamel<\/span><span>, CEO of Nestle Egypt; <\/span><span style=\"font-weight:700\">Omar Elsahy<\/span><span>, general manager of Amazon Egypt, <\/span><span style=\"font-weight:700\">Khaled Morsy<\/span><span>, CEO of DB Schenker Egypt;  <\/span><span style=\"font-weight:700\">Shady William<\/span><span>, managing director of IDG; <\/span><span style=\"font-weight:700\">Mohamed Talaat Khalifa<\/span><span>, CEO of Concrete; <\/span><span style=\"font-weight:700\">Abdallah Sallam<\/span><span>, CEO of Madinet Masr; <\/span><span style=\"font-weight:700\">Tarek Hosny<\/span><span>, head of investments and projects at Fertiglobe; <\/span><span style=\"font-weight:700\">Nadia El-Tawil<\/span><span>, investment officer at AfricInvest; <\/span><span style=\"font-weight:700\">Mostafa Bedair<\/span><span>, CEO of Giza Seeds and Herbs; <\/span><span style=\"font-weight:700\">Helmi Ghazi,<\/span><span> deputy CEO of HSBC Egypt; <\/span><span style=\"font-weight:700\">Nada El Ahwal<\/span><span>, CSO of Transmar; <\/span><span style=\"font-weight:700\">Hassan Massoud<\/span><span>, associate director and head of private equity (Southern Mediterranean) at the EBRD; <\/span><span style=\"font-weight:700\">Hossam Abou Moussa<\/span><span> of partner at Apis; <\/span><span style=\"font-weight:700\">Yassir Zouaoui<\/span><span>, partner at McKinsey; and <\/span><span style=\"font-weight:700\">Mohamed El Gebely,<\/span><span style=\"\"> Team Leader at USAID Trade.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Topics and live interviews will include:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Why exports and FDI are the way forward and what lessons have worked from around the world;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to attract foreign partners and figure out what they are looking for;<\/span><\/li>\n<li><span style=\"font-weight:400;\">What lessons can we draw from white goods, fertilizers, and garments exporters who have increased our exports;<\/span><\/li>\n<li><span style=\"font-weight:400;\">What it takes to secure a place in a multinational\u2019s supply chain.<\/span><\/li>\n<li><span style=\"font-weight:400;\">How industrial clusters could expedite exports, FDI  and possibly be an avenue for SME development;<\/span><\/li>\n<li><span style=\"font-weight:400;\">What are the industries of tomorrow around which we can export and bring in FDI.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><br \/>For the full agenda please click <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/index.html#agenda\" style=\"\">here<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">** Have you confirmed your attendance? <\/span><span style=\"font-weight:400;\">Invitations have been sent out over the past few weeks. If you have yet to confirm your attendance and would still like to join us, please reply to the invitation with an RSVP.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY TODAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">IT\u2019S BUDGET DAY, and proceedings have kicked off in the House of<\/span><span style=\"font-weight:700\"> Representatives<\/span><span style=\"font-weight:400;\">, with Finance Minister Mohamed Maait delivering his statements on the draft state budget for FY 2023-24. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Maait said he expects the budget deficit for the current fiscal year to come in at 6.4%<\/span><span style=\"\">,<\/span><span> according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0xxKv9A9PCoavw6JbB5vSoWFB5Y1P1ZrYLxvFC5ZYp6emTFN56nRxUA24RUtKR1vcl\" style=\"\">readout of his statements<\/a><\/span><span>, marking a significant improvement from <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a82891c1-0dbe-4897-84fd-f8e2073fab1f\" style=\"\">earlier expectations of 6.8%<\/a><\/span><span>. As we <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/13f3c00c-17fb-4318-aa0e-219d887c5eca\" style=\"\">noted this morning<\/a><\/span><span style=\"font-weight:400;\">, an earlier document circulated carried a budgeted adjusted deficit of 8%. The lower than originally budget deficit is a welcome development and suggests growing fiscal restraint. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Leading the conversation in the international business press this afternoon:<\/span><span style=\"\"> Credit Suisse<\/span><span> CEO Ulrich Koerner is joining UBS\u2019 executive board as part of a leadership shuffle, UBS said today. Koerner\u2019s appointment comes after UBS took over Credit Suisse in a USD 3.25 bn agreement last month. The story is getting front-page play in the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/89efe766-6ea6-4122-a70a-ba98499488f2\" style=\"\">Financial Times<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/finance\/ubs-says-credit-suisse-ceo-koerner-join-leadership-combined-group-2023-05-09\/\" style=\"\">Reuters<\/a><\/span><span>, and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/05\/09\/ubs-announces-credit-suisse-ceo-koerner-to-join-board-after-emergency-rescue.html\" style=\"\">CNBC<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">** CATCH UP QUICK<\/span><span style=\"\"> on the top stories from today\u2019s <\/span><span style=\"font-weight:700\">EnterpriseAM<\/span><span style=\"font-weight:400;\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The Sovereign Fund of Egypt (SFE) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2ad67365-7042-4cae-9df3-343bf0877aaf\" style=\"\">has acquired<\/a><\/span><span style=\"font-weight:700\"> a 49% stake in leading pharma chain El Ezaby Pharmacy<\/span><span style=\"font-weight:400;\">, El Ezaby Chairman Ahmed El Ezaby said in a televised interview last night.<\/span><\/li>\n<li><span style=\"font-weight:700\">Khazna + Benya partner on hyperscale data center:<\/span><span> UAE-based Khazna Data Centers <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2bf9b435-20e3-48b4-9692-ea9cc53088d8\" style=\"\">will establish<\/a><\/span><span style=\"font-weight:400;\"> Egypt\u2019s first hyperscale data center in partnership with local IT infrastructure firm Benya Group.<\/span><\/li>\n<li><span style=\"font-weight:700\">OIH makes a play for the next-gen automotive sector:<\/span><span> Orascom Investment Holding (OIH) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0ae4af31-221c-478f-8f30-d41f42bfd18f\" style=\"\">has become a strategic investor<\/a><\/span><span style=\"font-weight:400;\"> in local e-mobility company BluEV after making an undisclosed investment.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WANT TO START A CAREER IN INVESTOR RELATIONS ADVISORY?<\/span><span style=\"\"> Enterprise Advisory<\/span><span style=\"font-weight:400;\"> (formerly known as Inktank Communications) is looking for smart, talented people to help us tell companies\u2019 stories. Enterprise Advisory is the region\u2019s leading investor relations advisory company and works on investor and strategic communications for more than 40 companies across a wide range of industries in Egypt and the wider MENA region. Egyptian and foreign nationals alike are welcome to apply.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NEVER WORKED IN INVESTOR RELATIONS OR ADVISORY BEFORE?<\/span><span style=\"\"> We have the<\/span><span style=\"font-weight:400;\"> Enterprise Advisory Development Program. The four-month program will see full-time, paid participants take part in workshops and lectures from veteran investor relations and advisory professionals, while also applying their knowledge in a practical setting. Those who successfully complete the program will then be offered full-time positions on staff for a chance to work in a flexible and supportive \u2014 but still fast-paced \u2014 work environment that eschews micromanagement and rewards good work. Enterprise Advisory offers the chance to build a network of high-ranking individuals across some of the largest and most influential companies in the region through direct exposure to clients.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">During the program, you\u2019ll learn:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">Finance for non-finance types;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to analyze businesses, their business models, their strategic advantages, and their strategies;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to take that information and then tell an audience of investors, journalists, and analysts a compelling and well-developed story;<\/span><\/li>\n<li><span>How to frame individual companies\u2019 stories within the wider macroeconomic environment.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u2600\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"\">More warm weather: Expect a daytime high of 34<\/span><span style=\"\">\u00b0C and<\/span><span style=\"font-weight:400;\"> nighttime low of 19\u00b0C, our favorite weather app tells us.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, ladies and gentlemen, and welcome to a busy hump day here in Omm El Donia. We\u2019re only six days away from meeting with some of you at the Enterprise Exports and FDI Forum, taking place at the Four Seasons at the Nile Plaza on Monday, 15 May. We\u2019re proud to announce that our [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":586334,"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":[7213],"tags":[633,274,277,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-586333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-house-of-representatives","tag-mohamed-maait","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"af7960bd-f1c7-4bd3-aa91-847291e48ba4","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2022\/5\/317.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[586331],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.6341bfa1-8260-4b51-8716-14d3a6b53ccf.mp3"},"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>THIS EVENING: Maait delivers budget statement at the House - 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\/2023\/05\/09\/this-evening-maait-delivers-budget-statement-at-the-house\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: Maait delivers budget statement at the House\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, ladies and gentlemen, and welcome to a busy hump day here in Omm El Donia. We\u2019re only six days away from meeting with some of you at the Enterprise Exports and FDI Forum, taking place at the Four Seasons at the Nile Plaza on Monday, 15 May. 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THE BIG STORIES TODAY SO FAR-#1- The retail component of Macro Group\u2019s IPO closed today 102x oversubscribed, the EGX said in a bulletin at the end of today\u2019s trading\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":615162,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/13\/egypt-targets-usd-6-5-bn-from-the-privatization-program-in-2024-maait\/","url_meta":{"origin":586333,"position":1},"title":"Egypt targets USD 6.5 bn from the privatization program in 2024- Maait","author":"enterpriseam admin","date":"13 February 2024","format":false,"excerpt":"Good afternoon ladies and gentlemen, and happy hump day. 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We\u2019re always giddy when we can say happy THURSDAY, but this week makes us feel like we\u2019ve earned it just a little bit more than usual.THE BIG STORY TODAY The automotive market is still struggling: Passenger car sales fell for the fourth consecutive month in June,\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553061,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/18\/this-evening-house-signs-off-on-ev-bill-and-car-imports-for-expats-trussonomics-is-dead\/","url_meta":{"origin":586333,"position":4},"title":"THIS EVENING: House signs off on EV bill and car imports for expats + Trussonomics is dead","author":"enterpriseam admin","date":"18 October 2022","format":false,"excerpt":"Happy hump day, ladies and gentlemen. 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