{"id":614813,"date":"2024-02-07T00:00:00","date_gmt":"2024-02-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/07\/madbouly-govt-cbe-mulling-new-import-controls-plus-desalination-tender-pushed-to-2q-2024\/"},"modified":"2024-02-07T00:00:00","modified_gmt":"2024-02-07T00:00:00","slug":"madbouly-govt-cbe-mulling-new-import-controls-plus-desalination-tender-pushed-to-2q-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/07\/madbouly-govt-cbe-mulling-new-import-controls-plus-desalination-tender-pushed-to-2q-2024\/","title":{"rendered":"Madbouly gov\u2019t + CBE mulling new import controls. Plus: Desalination tender pushed to 2Q 2024"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, friends, and happy almost-THURSDAY.<\/strong> It\u2019s a busy Wednesday in the domestic news cycle, with more developments on our ongoing foreign currency crunch.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORIES TODAY<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Fresh import controls coming?<\/strong> The Madbouly government and the Central Bank of Egypt are reportedly mulling imposing new restrictions on imports to help alleviate our FX crunch, Al Arabiya Business reports, citing unnamed sources it says have knowledge of the matter (<a target=\"_blank\" href=\"https:\/\/twitter.com\/AlArabiyaBN_EG\/status\/1755174554056503761?s=20\" style=\"\" rel=\"noopener\">watch, runtime: 3:22<\/a>). The restrictions under consideration include entirely barring imports of certain personal goods, including new cars, for a set period of time. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Other options include limiting how and what businesses are allowed to import.<\/strong> The proposed rules would reportedly require that companies only import goods and materials that are directly related to their operations. As it currently stands, companies are able to use their foreign currency proceeds from exports to finance any business-related imports. Some companies that are not import reliant have been using their export proceeds to import goods for other companies, a practice which the government is now looking to clamp down on. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Desalination tender pushed:<\/strong> Six desalination plants will be offered up to the private sector in June, after being pushed back from March, <a target=\"_blank\" href=\"https:\/\/bit.ly\/497SwlW\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports, citing an unnamed government source. The six plants would be the first phase of the government\u2019s plan to tender 21 plants in total. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s no single unifying story or theme in the international business press this <\/strong><strong>afternoon.<\/strong> A handful of stories to keep an eye on: <\/p>\n<ul>\n<li>Alibaba shares whipsaw in premarket trade after revenue miss, USD 25 bn boost to buyback plan (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/02\/07\/alibaba-baba-q3-2023-earnings-report-for-december-quarter.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/li>\n<li>\u00d8rsted suspends dividend, cuts jobs and exits offshore wind markets (<a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/cb191b4d-6960-414a-9692-06489dc847fa\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/li>\n<li>US commercial real estate contagion is now moving to Europe (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-02-07\/us-commercial-real-estate-contagion-is-spreading-to-europe?srnd=premium\" style=\"\" rel=\"noopener\">Bloomberg<\/a>) <\/li>\n<\/ul>\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\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/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 target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>It won\u2019t be too long before the government closes the bidding window for Wataniya. <\/strong>As of yesterday, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9ed0f878-77a6-4d08-8c51-91fc5ff5c0fb\" style=\"\" rel=\"noopener\">investors have 48 hours to submit their final bids<\/a> for the military-owned filling station operator.<\/li>\n<li><strong>Bonyan acquires a building in Redcon\u2019s Golden Gate project: <\/strong>Bonyan Development, a subsidiary of Compass Capital, sealed the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2e5e8e38-c790-4c52-8397-24915e148e0b\" style=\"\" rel=\"noopener\">agreement<\/a> to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3761063f-d4d3-4a20-9d32-e9b0bfaa47c3\" style=\"\" rel=\"noopener\">purchase an EGP 718 mn building<\/a> in Redcon Properties\u2019 Golden Gate project in the Fifth Settlement.<\/li>\n<li><strong>The country\u2019s top 20 real estate developers saw their sales more than double in 2023<\/strong> \u2014 to over EGP 700 bn \u2014 as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e6fe8171-6a9b-40fa-b4ec-4caac82d737c\" style=\"\" rel=\"noopener\">investors flocked to the real estate market<\/a> to hedge against a weakening EGP.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>HELP GAZA-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to support relief efforts in Gaza, but don\u2019t know how?<\/strong> We\u2019ve got you. More than 1 mn people in Gaza have been thrown from their homes and every human being there lacks access to food, water, and fuel amid the most intense bombardment any population has endured this century.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The folks at Talabat are processing donations for a range of Gaza relief appeals <\/strong>by charities including the Egyptian Food Bank and Misr El Kheir. Pay in EGP using your credit card.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Or check out <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/f8ce0f50-10c2-4cca-8e6f-64c32a5c90b7\" style=\"\" rel=\"noopener\">our list of charities<\/a><\/strong><strong> to which you can make direct donations<\/strong> via bank deposit and \/ or Fawry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2600\ufe0f <\/strong><strong>TOMORROW\u2019S WEATHER- <\/strong> Expect a slightly warmer, partly cloudy day with a high of 24\u00b0C and a low of 14\u00b0C, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, friends, and happy almost-THURSDAY. It\u2019s a busy Wednesday in the domestic news cycle, with more developments on our ongoing foreign currency crunch. THE BIG STORIES TODAY #1- Fresh import controls coming? The Madbouly government and the Central Bank of Egypt are reportedly mulling imposing new restrictions on imports to help alleviate our FX [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":614814,"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":[271,633,132,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-central-bank-of-egypt","tag-enterprisepm","tag-trade","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"99fae253-fe29-4b81-80aa-66d8d360b8ba","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2021\/3\/401.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[614811],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.cb04439b-b7a4-4b1f-ad98-d55bfbac2f22.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>Madbouly gov\u2019t + CBE mulling new import controls. Plus: Desalination tender pushed to 2Q 2024 - 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\/2024\/02\/07\/madbouly-govt-cbe-mulling-new-import-controls-plus-desalination-tender-pushed-to-2q-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Madbouly gov\u2019t + CBE mulling new import controls. Plus: Desalination tender pushed to 2Q 2024\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends, and happy almost-THURSDAY. It\u2019s a busy Wednesday in the domestic news cycle, with more developments on our ongoing foreign currency crunch. THE BIG STORIES TODAY #1- Fresh import controls coming? The Madbouly government and the Central Bank of Egypt are reportedly mulling imposing new restrictions on imports to help alleviate our FX [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/07\/madbouly-govt-cbe-mulling-new-import-controls-plus-desalination-tender-pushed-to-2q-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-07T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/401.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\/2024\/02\/07\/madbouly-govt-cbe-mulling-new-import-controls-plus-desalination-tender-pushed-to-2q-2024\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/07\/madbouly-govt-cbe-mulling-new-import-controls-plus-desalination-tender-pushed-to-2q-2024\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Madbouly gov\u2019t + CBE mulling new import controls. 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We\u2019ve got another busy issue for you today, with the main highlight news about big changes that may be coming to the administration of state-owned enterprises.THE BIG STORY TODAY #1- All state-owned companies could be under SFE? The Madbouly government is aiming to transfer\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\/2025\/2\/2581.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":644204,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/22\/egypt-is-looking-to-up-our-imports-of-israeli-gas\/","url_meta":{"origin":614813,"position":1},"title":"Egypt is looking to up our imports of Israeli gas","author":"enterpriseam admin","date":"22 September 2024","format":false,"excerpt":"Good afternoon, all. It is officially the first day of fall and we can\u2019t wait for the temperature to drop.THE BIG STORY TODAY- Egypt seeks more Israeli gas: The Madbouly government is reportedly planning to increase its imports of Israeli gas by 20% to 1.2 bn cf a day starting\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\/2024\/9\/1642.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":654752,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/central-bank-eases-import-restrictions-on-vehicle\/","url_meta":{"origin":614813,"position":2},"title":"Central bank eases import restrictions on vehicle","author":"enterpriseam admin","date":"7 November 2024","format":false,"excerpt":"This policy shift comes as the CBE seeks to lift all remaining USD restrictions","rel":"","context":"In &quot;Automotive&quot;","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/610.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547587,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/28\/could-the-auto-industry-get-some-much-needed-reprieve\/","url_meta":{"origin":614813,"position":3},"title":"Could the auto industry get some much-needed reprieve?","author":"enterpriseam admin","date":"28 June 2022","format":false,"excerpt":"PM Madbouly seeks to reassure automotive players on stymied car imports: Prime Minister Moustafa Madbouly has directed his ministers, the central bank, and the banking sector to coordinate on setting up \u201ca mechanism for the orderly release of car shipments\u201d from ports, according to a cabinet statement. 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