{"id":654756,"date":"2024-11-07T00:00:00","date_gmt":"2024-11-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/madbouly-cabinet-approves-redrafted-labor-act-during-its-weekly-meeting\/"},"modified":"2024-11-07T00:00:00","modified_gmt":"2024-11-07T00:00:00","slug":"madbouly-cabinet-approves-redrafted-labor-act-during-its-weekly-meeting","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/07\/madbouly-cabinet-approves-redrafted-labor-act-during-its-weekly-meeting\/","title":{"rendered":"Madbouly cabinet approves redrafted Labor Act during its weekly meeting"},"content":{"rendered":"

The Madbouly cabinet approved a raft of new decisions during its <\/strong>weekly meeting<\/a><\/strong> yesterday, including new legislation, new projects, and two new golden license issuances.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

#1- Redrafted Labor Act receives cabinet approval:<\/strong> The Madbouly government approved the redrafted Labor Act. The 267-article bill underwent several rounds of discussions with workers and businessmen over the last year, Labor Minister Mohamed Gobran said<\/a> last month, adding that he hopes to see the new Labor Act last for more than 30 years. The redrafted act received provisional approval from the House\u2019s Manpower Committee last month.<\/p>\n

What\u2019s next?<\/strong> The redrafted bill will be referred back to the House of Representatives for a final discussion and vote, Gobran said at the time.<\/p>\n

Remember:<\/strong> The government pulled the bill from the House last year after the legislation received backlash from the business community, many of whom claimed that the original version\u2019s terms were lopsided in favor of workers. The new law will include provisions that protect and support irregular workers \u2014 who currently make up between 60-80% of Egypt\u2019s total workforce.<\/p>\n

#2- Green agribusiness skills development project gets approval:<\/strong> The cabinet approved a presidential decree on a USD 7.1 mn (CAD 9.9 mn) grant agreement for the Egypt Green Skills for the Climate-smart Agribusiness Network Program (EGYCAN)<\/a> project between the Egyptian and Canadian governments. The project looks to develop employment opportunities in the agribusiness sector by improving climate-smart programs and industry-related skills in the governorates of Beheira, Gharbiya, and Menoufia, and is set to directly benefit over 24k students over its five-year implementation period. <\/p>\n

#3- MAFI granted a golden license: <\/strong>Cabinet approved granting MAFI Agricultural Produce Industries a golden license for its agri-food industrial project<\/a> in Sadat City. The project, which is expected to begin operations in March 2026 and will see investments of just over USD 180 mn, is expected to produce USD 200 mn worth of agri-food products annually during its first phase, and double that when its second phase is up and running, all of which will be exported.<\/p>\n

#4- And another one for Coficab:<\/strong> Cabinet also approved granting the Tunisian automotive cable manufacturer Coficab<\/a> the golden license for its up to USD 88 mn automotive cable and electrical factory<\/a> in Tenth of Ramadan City. The project is scheduled for completion by the end of June 2025, according to the statement, with the plant set to span some 30k sqm in the Tenth of Ramadan industrial zone and create 267 jobs. The factory is expected to earmark 100% of its output \u2014 made using 60% locally-sourced materials \u2014 to exports to global markets, including Tunisia, the UAE, Turkey, and Eastern Europe.<\/p>\n","protected":false},"excerpt":{"rendered":"

The cabinet approved two new golden license issuances<\/p>\n","protected":false},"author":1,"featured_media":654757,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7306],"tags":[144,282,72,564,125,1350,7099,131],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-654756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet-watch","tag-automotive","tag-cabinet-watch","tag-enterpriseam","tag-food","tag-investment-watch","tag-madbouly-cabinet","tag-mafi","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"3b26ecf0-9b2a-4737-9048-f6ff0830719c","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/606.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Madbouly cabinet approves redrafted Labor Act during its weekly meeting","related_issue":[654742],"teaser":"The cabinet approved two new golden license issuances","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.c97c65aa-b943-4c4b-8bd1-53ad15a0d663.mp3"},"yoast_head":"\nMadbouly cabinet approves redrafted Labor Act during its weekly meeting - 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\/11\/07\/madbouly-cabinet-approves-redrafted-labor-act-during-its-weekly-meeting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Madbouly cabinet approves redrafted Labor Act during its weekly meeting\" \/>\n<meta property=\"og:description\" content=\"The cabinet approved two new golden license issuances\" 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Under amendments to Article 12, any expansion to an already existing investment project is eligible for the incentives granted under the law,\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":612946,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/04\/madbouly-cabinet-beefs-up-penalties-for-hoarders\/","url_meta":{"origin":654756,"position":3},"title":"Madbouly cabinet beefs up penalties for hoarders","author":"enterpriseam admin","date":"4 January 2024","format":false,"excerpt":"Hoarders face can face up to one year of imprisonment and a fine up to EGP 2 mn","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/435.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":655305,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/17\/madbouly-cabinet-approves-draft-law-regulating-biosecurity-facilities-government-body-debt-ceiling-and-working-days-for-banks-in-ports\/","url_meta":{"origin":654756,"position":4},"title":"Madbouly cabinet approves draft law regulating biosecurity facilities, government body debt ceiling, and working days for banks in ports","author":"enterpriseam admin","date":"17 November 2024","format":false,"excerpt":"The draft law establishes a National Center for Biosecurity and Biosafety","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/1499.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628272,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/contractors-compensation-act-high-on-madbouly-cabinet-agenda\/","url_meta":{"origin":654756,"position":5},"title":"Contractors Compensation Act high on Madbouly Cabinet agenda","author":"enterpriseam admin","date":"28 June 2018","format":false,"excerpt":"CABINET WATCH- Contractors Compensation Act high on Madbouly Cabinet agenda: The focus of the Madbouly Cabinet\u2019s weekly meeting yesterday appears to have been paying out compensation to government contractors under the Contractors Compensation Act, according to a cabinet statement. Ministers reviewed a report, which showed that EGP 2.7 bn were\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\/654756","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=654756"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/654756\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/654742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/654757"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=654756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=654756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=654756"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=654756"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=654756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}