{"id":639323,"date":"2017-10-26T06:43:08","date_gmt":"2017-10-26T06:43:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/26\/cabinet-signs-off-on-investment-act-regs-universal-healthcare-act\/"},"modified":"2017-10-26T06:43:08","modified_gmt":"2017-10-26T06:43:08","slug":"cabinet-signs-off-on-investment-act-regs-universal-healthcare-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/26\/cabinet-signs-off-on-investment-act-regs-universal-healthcare-act\/","title":{"rendered":"Cabinet signs off on Investment Act regs, Universal Healthcare Act"},"content":{"rendered":"

<\/a> We now officially have an Investment Act: <\/strong>The Ismail cabinet had a busy day on Wednesday, approving or discussing at least three major pieces of legislation. Topping the list are the long-awaited executive regulations of the Investment Act, according to an announcement by cabinet media advisor Osama Abdel Aziz picked up by Reuters<\/a>. The approval of the regs, which have been with the cabinet since June, will make the Investment Act official. They outline the state\u2019s investment-promotion framework for everything from manufacturing to healthcare. The regulations also clarify which companies or investments are eligible for incentives, in addition to setting up the rules for establishing private freezones.<\/p>\n

You can check out the expected highlights of the regs here<\/a>. They become official once <\/strong>published in the Official Gazette<\/strong>, so look for a copy of to be available for download on the interwebs anywhere between today and Sunday.<\/p>\n

<\/a> Cabinet also approved yesterday the Universal Healthcare Act <\/strong>and sent the bill to the House of Representatives for debate, read an official statement from the cabinet<\/a>. The approval comes after the ministers discussed the technical and actuarial studies on the legislation, according to the statement. Vice Minister of Finance Mohamed Maait called the approval of the Act a victory in statements to the press<\/a> following the meeting. Health Minister Ahmed Rady also told reporters that implementing universal healthcare fully will cost the state around EGP 4k per citizen per year. He expects the plan to be rolled out in 2018 and gradually cover all of Egypt by 2032.<\/p>\n

We haven\u2019t had the advantage of an education based on this \u201ccommon core\u201d nonsense<\/a>, but a bit of mental math suggests that the cost to the state will ring in at something just shy of EGP 400 bn a year <\/strong>based on EGP 4k a head and just under 100 mn Egyptians resident in Egypt.<\/p>\n

Absent yesterday was any discussion of Cabinet\u2019s previously-announced plans to roll<\/strong>out price caps for private-sector healthcare providers.<\/strong> Health minister Rady had said in September<\/a> that a bill imposing caps on private hospitals and clinics based on a still undefined tier system would also be introduced in the House this session and would pass before the Universal Healthcare Act would be rolled out. Naturally, private sector healthcare providers are not happy with the prospect. Imposing such a bill will make the sector less competitive and eat into the government\u2019s plan to raise efficiency and quality of hospitals, the head of the Federation of Egyptian Industries\u2019 healthcare division Alaa Abdel Maguid tells Al Borsa<\/a>. He added that if the government persists in implementing the plan, it should factor in the differentials in pricing of land and access to facilities and talent among different governorates. We had noted last month<\/a> that a number of industry players expect such a move to stifle growth in the sector and derail a potential M&A boom in 2018.<\/p>\n

Cabinet also discussed the Housing Ministry\u2019s recent amendments to the Unified <\/strong>Building Codes<\/strong>, said minister Moustafa Madbouly, according to AMAY<\/a>. The bill \u2014 which focus on facilitating licensing, tightening safety codes, and better enforcement \u2014 is currently being circulated among the relevant ministries, Madbouly added.<\/p>\n

Also approved during yesterday\u2019s meeting: Amendments to the Criminal Procedures Act<\/strong> and an agreement between Egypt and Romania to scrap visa requirements for diplomats. The visa agreement was signed during Foreign Minister Sameh Shoukry\u2019s visit to Bucharest in August<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

We now officially have an Investment Act: The Ismail cabinet had a busy day on Wednesday, approving or discussing at least three major pieces of legislation. Topping the list are the long-awaited executive regulations of the Investment Act, according to an announcement by cabinet media advisor Osama Abdel Aziz picked up by Reuters. The approval […]<\/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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-639323","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"98d0bb69-1b3c-451e-b4e6-dc75cb29393f","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[639317],"teaser":"","voice_url":""},"yoast_head":"\nCabinet signs off on Investment Act regs, Universal Healthcare Act - 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\/2017\/10\/26\/cabinet-signs-off-on-investment-act-regs-universal-healthcare-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cabinet signs off on Investment Act regs, Universal Healthcare Act\" \/>\n<meta property=\"og:description\" content=\"We now officially have an Investment Act: The Ismail cabinet had a busy day on Wednesday, approving or discussing at least three major pieces of legislation. 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Investment Minister Sahar Nasr\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":628623,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/ismail-cabinet-issues-regs-for-the-universal-healthcare-act\/","url_meta":{"origin":639323,"position":1},"title":"Ismail Cabinet issues regs for the Universal Healthcare Act","author":"enterpriseam admin","date":"9 May 2018","format":false,"excerpt":"LEGISLATION WATCH- Prime Minister Sherif Ismail issued the executive regulations of the Universal Healthcare Act on Tuesday, according to a cabinet statement. The statement did not provide the final draft of the regs, but copies leaked by Al Ahram last month show that focus on the roles, jurisdictions and functions\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":633102,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/27\/council-of-state-receives-healthcare-act-exec-regs-to-review-before-cabinet\/","url_meta":{"origin":639323,"position":2},"title":"Council of State receives Healthcare Act exec regs to review before Cabinet","author":"enterpriseam admin","date":"27 February 2018","format":false,"excerpt":"LEGISLATION WATCH- Council of State reviewing Healthcare Act regs before they\u2019re sent to Cabinet: The Health Ministry has sent the executive regulations to the Universal Healthcare Act to the Council of State (Maglis Al Dawla) for review before they are sent to the Ismail Cabinet to be issued, Alaa Ghanam,\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":598917,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/12\/cabinet-rolls-out-amendments-to-executive-regs-on-real-estate-funds\/","url_meta":{"origin":639323,"position":3},"title":"Cabinet rolls out amendments to executive regs on real estate funds","author":"enterpriseam admin","date":"12 June 2019","format":false,"excerpt":"REGULATION WATCH- Cabinet amends Capital Markets Act regs on real estate funds: Prime Minister Moustafa Madbouly has issued a decree amending the executive regulations of the Capital Markets Act governing real estate funds, Financial Regulatory Authority (FRA) boss Mohamed Omran said in a statement (pdf). What are the amendments all\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":628466,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/06\/did-the-government-really-issue-the-executive-regulations-of-the-universal-healthcare-act\/","url_meta":{"origin":639323,"position":4},"title":"Did the government really issue the executive regulations of the Universal Healthcare Act?","author":"enterpriseam admin","date":"6 May 2018","format":false,"excerpt":"LEGISLATION WATCH- Did the government really issue the executive regulations to the Universal Healthcare Act? The Ismail Cabinet has approved the executive regulations of the Universal Healthcare Act and issued them yesterday, Health Minister Ahmed Rady reportedly told the House Budget Committee hearings on Saturday. While we had been expecting\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":628830,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/fra-sends-capital-markets-act-regs-to-council-of-state-for-review\/","url_meta":{"origin":639323,"position":5},"title":"FRA sends Capital Markets Act regs to council of state for review","author":"enterpriseam admin","date":"15 May 2018","format":false,"excerpt":"LEGISLATION WATCH- FRA sends Capital Markets Act regs to Council of State for review: The Financial Regulatory Authority (FRA) sent yesterday the final draft of the Capital Markets Act\u2019s executive regulations to the Council of State (Maglis Al Dawla) for review, FRA Vice Chairman Khaled El Nashar said, Al Mal\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/639323","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=639323"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/639323\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/639317"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=639323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=639323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=639323"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=639323"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=639323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}