{"id":662111,"date":"2025-03-11T00:00:00","date_gmt":"2025-03-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/11\/govt-is-hoping-to-attract-usd-12-bn-in-fdi-this-fy\/"},"modified":"2025-03-11T00:00:00","modified_gmt":"2025-03-11T00:00:00","slug":"govt-is-hoping-to-attract-usd-12-bn-in-fdi-this-fy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/11\/govt-is-hoping-to-attract-usd-12-bn-in-fdi-this-fy\/","title":{"rendered":"Gov\u2019t is hoping to attract USD 12 bn in FDI this FY"},"content":{"rendered":"

Go<\/strong>od morning, all.<\/strong> We lead today\u2019s issue with news that the IMF Executive Board has completed the fourth review of our USD 8 bn loan program, allowing for the disbursement of USD 1.2 bn, which should land in state coffers within days. We also have February\u2019s inflation figures \u2014 the headline reading dropped over 10 percentage points to 12.8%, marking its lowest level since March 2022. <\/p>\n

So, when do we eat?<\/strong> Maghrib prayers are at 6:01pm in the capital, and you\u2019ll have until 4:42am tomorrow to hydrate and caffeinate ahead of fajr.<\/p>\n

PSA- <\/p>\n

WEATHER- <\/strong>It\u2019s warming up in Cairo, with the capital in for a high of 25\u00b0C and a low of 16\u00b0C today, according to our favorite weather app.<\/p>\n

It\u2019s more or less the same in Alexandria<\/strong>, with a high of 25\u00b0C and a low of 14\u00b0C.<\/p>\n

** DID YOU KNOW that we now cover <\/strong>Saudi Arabia<\/a><\/strong> and the <\/strong>UAE<\/a><\/strong>?<\/strong><\/p>\n

** Were you forwarded this email?<\/strong> Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n

WATCH THIS SPACE- <\/p>\n

#1- Tax evad<\/strong>ers, beware.<\/strong> Transport and Industry Minister Kamel El Wazir asked the Finance Ministry to prepare a \u201ccomprehensive\u201d set of recommendations to confront tax evasion, according to an Industry Ministry statement<\/a>. Tax evasion has long been in the sights of the Finance Ministry, with a senior government official previously telling EnterpriseAM<\/a> that clamping down on the practice is an important part of its efforts to bolster tax revenues.<\/p>\n

An anti-dumping plan is also in the works<\/strong>, with the Investment Ministry instructed to conduct a report on imports that are dumped in the local market.<\/p>\n

\n

\n

<\/a> #2- Hearing out the Export Development Committee: <\/strong>Prime Minister Moustafa Madbouly yesterday met<\/a> with the newly-formed Export Development Committee<\/a> to hear its recommendations to help the country hit its target of reaching USD 100 bn in exports by 2030. The committee called for offering competitive interest rates tied to inflation, streamlining tax and customs procedures, and faster disbursement of payments under the export subsidy program. <\/p>\n

What\u2019s next? <\/strong>Starting next week, government officials will hold meetings with representatives from export sectors to discuss their demands, so they can be met as quickly as possible, Madbouly said.<\/p>\n

\n
\n
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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

IN THE HOUSE- <\/p>\n

<\/a> MPs approved the <\/strong>Egypt-Saudi Agreement on Promotion and Mutual Protection of<\/a><\/strong>Investments<\/a><\/strong> that is expected to help protect Saudi investors as they ramp up investment in Egypt. The agreement is expected to bring upwards of USD 10 bn<\/a> in bilateral investments over the next three years. It got the green light from the Saudi cabinet last week<\/a>.<\/p>\n

DATA POINT- <\/p>\n

<\/a> #1- The government is hoping to attract <\/strong>USD 12 bn in <\/strong>FDI during the FY 2024-25<\/strong>, the General Authority for Investment and Freezones (GAFI) head Hossam Heiba told CNBC<\/a>. GAFI is working on an investment policy with the World Bank with the aim of releasing it in the fourth quarter of the current fiscal year. <\/p>\n

\n

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<\/a> #2- <\/strong>Tax reve<\/strong>nue in Egypt <\/strong>increased by 38% y-o-y during 1H FY 2024-25<\/strong>, marking the highest growth rate in years, Finance Minister Ahmed Kouchouk said during the Egyptian Private Equity and Venture Capital Association\u2019s (EPEA) suhoor attended by EnterpriseAM.<\/p>\n

\n

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#3-<\/strong> Egypt\u2019s p<\/strong>harma market <\/strong>is valued<\/strong> at EGP 308 bn<\/strong>, with 12k pharma products on offer and annual sales of 3.6 bn units, Egyptian Drug Authority Chairman Ali El Ghamrawy said during a conference<\/a>.<\/p>\n

THE BIG STORY ABROAD- <\/p>\n

A single story is dominating the headlines this morning: <\/strong>US President Donald Trump\u2019s tariffs sent US markets plunging, the S&P 500 fell 2.7% yesterday, tech stocks saw their biggest day of losses since 2022 \u2014 thanks to Tesla shares falling 15%<\/a>, seeing their worst performance in five years \u2014 with the Nasdaq dipping 3.8%, and the Dow Jones dropped 2.1%. <\/p>\n

\u201cThis big sell-off feels ugly, it feels nasty<\/strong>,\u201d Citigroup\u2019s Drew Pettit said. \u201cWe were coming off very high sentiment and very high growth expectations. All of this is just recalibrating to the new risks that are in front of us,\u201d he said. (Bloomberg<\/a> | CNBC<\/a> | FT<\/a> | Reuters<\/a> | AP<\/a> | CNN<\/a> | BBC<\/a>)<\/p>\n

<\/p>\n

*** It\u2019s Going Green day \u2014 your weekly briefing of all things green in Egypt:<\/strong> Enterprise\u2019s green economy vertical focuses each Tuesday on the business of renewable energy and sustainable practices in Egypt, everything from solar and wind energy through to water, waste management, sustainable building practices and how you can make your business greener, whatever the sector.<\/p>\n

In today\u2019s issue: <\/strong>We look at how Egyptian companies can help African nations achieve their ambitious renewables targets.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, all. We lead today\u2019s issue with news that the IMF Executive Board has completed the fourth review of our USD 8 bn loan program, allowing for the disbursement of USD 1.2 bn, which should land in state coffers within days. 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We\u2019re also bidding the mild weather adieu and bracing for a scorching weekend ahead. But today\u2019s issue is as brisk as ever, with news of efforts to attract USD 42 bn in foreign direct investments, Netflix\u2019s latest downgrade in user\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","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":580011,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/01\/this-evening-contracts-for-first-usd-3-bn-phase-of-desalination-program-coming-in-2023-eu-wants-to-buy-russian-oil-at-usd-60-per-barrel\/","url_meta":{"origin":662111,"position":1},"title":"THIS EVENING: Contracts for first USD 3 bn phase of desalination program coming in 2023 + EU wants to buy Russian oil at USD 60 per barrel","author":"enterpriseam admin","date":"1 December 2022","format":false,"excerpt":"Good afternoon, folks. Only five sleeps separate us from meeting with all you good folks at the Enterprise Climate X Forum at the Grand Egyptian Museum on Tuesday, 6 December. More on that below.THE BIG STORY TODAY Gov\u2019t to award contracts for first USD 3 bn phase of desalination program\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","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\/2022\/12\/618.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582510,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/this-evening-pachin-wants-to-see-more-offers-before-looking-at-nphs-revised-acquisition-bid-us-defense-secretary-is-in-town\/","url_meta":{"origin":662111,"position":2},"title":"THIS EVENING: Pachin wants to see more offers before looking at NPH\u2019s revised acquisition bid + US Defense Secretary is in town","author":"enterpriseam admin","date":"8 March 2023","format":false,"excerpt":"Good afternoon, friends, and happy almost-THURSDAY \u2014 and International Women\u2019s Day. We have a relatively brisk news day on our hands today here in Omm El Donia as the world celebrates International Women\u2019s Day. THE BIG STORY TODAY Pachin is waiting on more offers before it moves forward with a\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","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\/2021\/11\/agreement-1600px1.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582365,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/07\/this-evening-national-paints-holdings-ups-its-offer-for-pachin-africa-finance-corporation-plans-to-invest-usd-1-bn-in-egypt\/","url_meta":{"origin":662111,"position":3},"title":"THIS EVENING: National Paints Holdings ups its offer for Pachin + Africa Finance Corporation plans to invest USD 1 bn in Egypt","author":"enterpriseam admin","date":"7 March 2023","format":false,"excerpt":"Good afternoon, wonderful people. Hump day is definitely a news dump day this week, as plenty of privatization stories are coming through.THE BIG STORIES TODAY #1- It\u2019s another privatization-heavy day: Dubai-based National Paints Holdings (NPH) has upped its bid for Paint and Chemical Industries (Pachin), submitting a mandatory tender offer\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","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\/2023\/3\/Earnings-counting-money-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590771,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/25\/this-evening-banque-misr-nbe-launch-new-usd-certificates\/","url_meta":{"origin":662111,"position":4},"title":"THIS EVENING: Banque Misr + NBE launch new USD certificates","author":"enterpriseam admin","date":"25 July 2023","format":false,"excerpt":"Good afternoon, friends. We hope that you\u2019re surviving the heat on this blackout-filled afternoon and have managed to ease back into the grind as we bring this hot hump day to a close. THE BIG STORY TODAY State-owned Banque Misr and the National Bank of Egypt have launched new high-yield\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","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\/2022\/2\/263.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563299,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/27\/egypt-was-the-arab-worlds-second-most-attractive-fdi-destination-in-2020\/","url_meta":{"origin":662111,"position":5},"title":"Egypt was the Arab world\u2019s second-most attractive FDI destination in 2020","author":"enterpriseam admin","date":"27 June 2021","format":false,"excerpt":"Egypt received USD 5.9 bn in foreign direct investment in 2020, accounting for 14.5% of the USD 40.5 bn invested in the region that year, according to the Arab Investment and Export Credit Guarantee Corporation\u2019s Investment Climate 2020 report, Reuters writes. Egypt came second to the UAE, which received USD\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/328.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/662111","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=662111"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/662111\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/662109"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/662112"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=662111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=662111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=662111"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=662111"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=662111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}