{"id":657573,"date":"2024-12-23T00:00:00","date_gmt":"2024-12-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/23\/egypt-to-ink-agreements-with-bahrain-uae-to-cut-customs-clearance-time\/"},"modified":"2024-12-23T00:00:00","modified_gmt":"2024-12-23T00:00:00","slug":"egypt-to-ink-agreements-with-bahrain-uae-to-cut-customs-clearance-time","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/23\/egypt-to-ink-agreements-with-bahrain-uae-to-cut-customs-clearance-time\/","title":{"rendered":"Egypt to ink agreements with Bahrain, UAE to cut customs clearance time"},"content":{"rendered":"<p class=\"tag-border-left\">CUSTOMS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Egypt to sign trade agreements with Bahrain and UAE to cut customs clearance <\/strong><strong>times:<\/strong> Egypt plans to sign separate agreements with Bahrain and the UAE in 1Q 2025 to reduce customs clearance times to a few hours, Deputy Finance Minister for Taxes Sherif Al Kilani told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/12\/22\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B9%D8%AA%D8%B2%D9%85-%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%AA%D9%8A%D9%86-%D9%85%D8%B9-%D8%A7%D9%84%D8%A8%D8%AD%D8%B1%D9%8A%D9%86-%D9%88%D8%A7%D9%84%D8%A7%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%84%D8%AA%D9%82%D9%84%D9%8A%D8%B5-%D8%B2%D9%85%D9%86-%D8%A7%D9%84%D8%A7%D9%81%D8%B1%D8%A7%D8%AC-%D8%A7%D9%84%D8%AC%D9%85%D8%B1%D9%83%D9%8A\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. Egypt plans to ink similar agreements with a number of other nations over the coming few months. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Egypt and Saudi Arabia signed an <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0766fc50-0323-4021-8d2c-a26a4360265f\/hassan-allam-utilities-to-invest-in-and-develop-king-abdullah-economic-city-off-port-terminal.-plus:-madinet-masr,-efg-hermes,-majid-al-futtaim-+-empower,-abb-group\" style=\"\" rel=\"noopener\">agreement<\/a> earlier this month to slash customs clearance time from three days to 3-4 hours. The two sides plan to introduce custom facilities for trade between them.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>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<p class=\"tag-border-left\">IPO-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>T<\/strong><strong>he National Printing Company (NAPR) will make its EGX debut in 2H 2025<\/strong>, unnamed sources told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/12\/22\/1855521\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The company had initially planned to go public in the fourth quarter of this year but decided to delay the offering to await clearer market conditions. The EGX approved the temporary listing of the company in February. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>We first heard of the National Printing Company\u2019s plans for a stock market debut back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d155ddaf-923b-4191-b569-17da587aa92a\/qalaa-wants-to-take-the%253cmark%253e-national-printing-%253c%2Fmark%253ecompany-public-on-the-egx\" style=\"\" rel=\"noopener\">July 2023<\/a>. The company has tapped EFG Hermes and CI Capital to manage the IPO.<\/p>\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong> <strong>The<\/strong> <strong>Industry Ministry is currently studying plans to establish a ready-built industrial<\/strong><strong> complex of 450 factories<\/strong> in South Port Said Industrial Zone\u2019s extension, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/18hA88YVUD\/\" style=\"\" rel=\"noopener\">statement<\/a>. The project is aimed at supporting small-scale industries, including textiles, ready-made garments, engineering, food, and chemical industries, and will offer units with areas ranging from 250-500 square meters.<\/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\"><strong>#2- A new EUR 15 mn textiles factory: <\/strong>Local textile manufacturer <a target=\"_blank\" href=\"https:\/\/www.wagdymoamen.com\/\" style=\"\" rel=\"noopener\">Wagdy Moamen Group<\/a> plans to invest EUR 15 mn in a fabric dyeing facility spanning 30k sqm in Tenth of Ramadan City, company chairman Sherif Wagdy Moamen told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/12\/21\/1855168\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The group also aims to boost its fabric exports by 25% in the coming year, with plans to exceed 7 mn sqm. <\/p>\n<p class=\"tag-border-left\">HEALTHCARE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The Health Ministry launched the National One Health Plan (2024-27) and a <\/strong><strong>health climate adaptation framework (2024-30)<\/strong>, targeting shared health risks from zoonotic diseases, food and water safety, and climate-related challenges, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0zq74ep7QYGwViiMWok5MNBs9T2bWtQqcDf4j8GMhKXbkR9rCpFA3CwZqxxkKiNZRl\" style=\"\" rel=\"noopener\">statement<\/a>. The plans aim to integrate health systems, boost disease surveillance, enhance emergency response, and tackle pollution while preserving resources to counter climate impacts.<\/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\"><strong>#2- <\/strong><strong>Siemens Healthineers<\/strong><strong> expands its capabilities with oncology acquisition: <\/strong>Medical technology company <a target=\"_blank\" href=\"https:\/\/www.siemens-healthineers.com\/\" style=\"\" rel=\"noopener\">Siemens Healthineers Egypt<\/a> has taken over <a target=\"_blank\" href=\"https:\/\/www.varian.com\/\" style=\"\" rel=\"noopener\">Varian<\/a> \u2019s equipment sales and services in Egypt from IEC Medical Systems, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2015.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. The acquisition will enhance the company\u2019s offerings in advanced diagnostic imaging, laboratory diagnostics, and oncology treatments.<\/p>\n<p class=\"tag-border-left\">M&amp;A-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mallawany offloads stake in ICMI: <\/strong>EFG Holding\u2019s non-executive vice chairman Yasser Mallawany divested his entire 9.97% stake \u2014 the equivalent of 5.8 mn shares \u2014 in Nilex-listed medical supplier ICMI in a EGP 10.7 mn transaction, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1992.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The shares were sold at an average price of EGP 1.85 per share, with EFG Hermes executing the sale.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi investors were among those snapping up ICMI\u2019s shares: <\/strong>Saudi businessman Saeed Al Asiri increased his stake in ICMI to 12.14% from 5.2% in an EGP 7.4 mn transaction, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2005.pdf\" style=\"\" rel=\"noopener\">EGX statement (pdf)<\/a>. Al Asiri purchased 4 mn shares at an average price of EGP 1.85 per share. Saudi investor Saleh Al Sagri also boosted his stake in the company with the purchase of 645.7k shares, bringing his holdings from 4.9% to 6%, according to a separate <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1996.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>. The transaction was valued at EGP 1.2 mn at the same per-share price of EGP 1.85.<\/p>\n<p class=\"tag-border-left\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Luxury men\u2019s undergarment brand KHAM opens in London: <\/strong>Egyptian men\u2019s undergarment brand <a target=\"_blank\" href=\"https:\/\/shopkham.com\/password\" style=\"\" rel=\"noopener\">KHAM<\/a> debuted in South Kensington, London yesterday, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/1984.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Using 100% organic Egyptian cotton, the brand offers a range of briefs, boxers, and tank tops, with future plans to introduce socks, joggers, and hoodies. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: The National Printing Company to make its EGX debut in 2H 2025<\/p>\n","protected":false},"author":1,"featured_media":657574,"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":[7209],"tags":[111,473,309,72,7115,131,132,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-657573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-bahrain","tag-customs","tag-enterpriseam","tag-healthcare","tag-manufacturing","tag-trade","tag-uae","wpautop","entry"],"acf":{"mongo_id":"1d75eae1-5784-4b33-b5cd-166686c5eb59","order":"8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/2162.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt to ink agreements with Bahrain, UAE to cut customs clearance time","related_issue":[657562],"teaser":"PLUS: The National Printing Company to make its EGX debut in 2H 2025","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.ea8cd1de-918d-4a20-9f31-f96ac113a307.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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