{"id":663787,"date":"2025-04-15T00:00:00","date_gmt":"2025-04-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/15\/saudi-projects-to-get-the-golden-license-treatment\/"},"modified":"2025-04-15T00:00:00","modified_gmt":"2025-04-15T00:00:00","slug":"saudi-projects-to-get-the-golden-license-treatment","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/15\/saudi-projects-to-get-the-golden-license-treatment\/","title":{"rendered":"Saudi projects to get the golden license treatment"},"content":{"rendered":"

Good morning, folks.<\/strong> Investments coming our way from the Gulf is once leading the local business news cycle \u2014 this time from Qatar. Also in today\u2019s issue a new EGP 30 bn financing initiative offering industrial player 15% interest rates, a new big-ticket development courtesy of Majid Al Futtaim, and much, much, more.<\/p>\n

WEATHER- The weather will continue to hover around the mid-twenties in Cairo today<\/strong>, with a high of 25\u00b0C, a low of 15\u00b0C, and the odd cloud in the sky, according to our favorite weather app.<\/p>\n

It\u2019s much the same in Alexandria<\/strong> \u2014 albeit a little cooler \u2014 with a high of 22\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<\/strong>-<\/p>\n

<\/a> <\/a> #1- Incoming Saudi projects will get the golden license treatment<\/strong>, Prime Minister Moustafa Madbouly told Saudi investors yesterday, according to a cabinet statement<\/a>. \u201cAny new Saudi project will be immediately presented to cabinet for golden license approval,\u201d Madbouly said, promising fast-tracked procedures to bring projects online swiftly.<\/p>\n

Madbouly\u2019s pledge comes hot on the heels of the <\/strong>Egyptian-Saudi Investment Forum<\/a><\/strong>, where some 100 Saudi investors were in town this week exploring potential investments and hearing our investment case. Saudi-Egyptian Joint Business Council Chairman Bandar Al Ameri suggested Saudi investments in Egypt could rise by as much as USD 15 bn to hit USD 50 bn in the coming four years. <\/p>\n

\n

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<\/a> #2- Vodacom International and others in South African business delegation are working on <\/strong>upping their Egypt investments<\/strong>, with a particular focus on cyber security and data centres, according to a statement<\/a> from the CIT Ministry. Vodacom CEO Shameel Joosub pointed to improvements in the investment climate, availability of digital transformation projects, and government support as reasons behind the company\u2019s decision to increase its investments through its local arm Vodafone Egypt.<\/p>\n

\n

HAPPENING TODAY-<\/p>\n

<\/a> The House will take its final vote to approve the final balance sheet for the FY 2023-24 <\/strong>state <\/strong>budget<\/strong> and to discuss how well the country tried to balance the books during the last fiscal year. <\/p>\n

Revenues rose 18.7% more than expected<\/strong>, coming in at with the budget for the fiscal year at EGP 2.6 tn, after having initially pencilled in EGP 2.1 tn for the year<\/a>. Expenditures also outpaced expectations, with the amount the state spending rising 13.7% more than expected. <\/p>\n

Non-tax revenues \u2014 excluding grants \u2014 increased 65.9% to EGP 1.0 tn<\/strong>, while tax revenues came in at the expected EGP 1.5 tn. However, eating away at the state\u2019s finances were debt servicing costs, to come in 21.8% higher than expected at EGP 1.4 tn, in addition to more modest increases on spending for wages, commodities, social protection and other expenses.<\/p>\n

If you\u2019re wondering why, the reason is inflation. <\/strong>The budget for the last fiscal year was built around the assumption that inflation would reach an annual average of 16.0% \u2014 but that was certainly not the case. Headline inflation for the year instead came out as an average of 33.6%, which helped push up the amount the state spends and also the amount it brings in \u2014 especially what we are talking about is priced in FX.<\/p>\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

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CIRCLE YOUR CALENDAR- <\/p>\n

<\/a> <\/p>\n

The IMF and World Bank\u2019s spring meetup will kick off in six days time <\/strong>amid the global economy grappling with mounting trade tensions and tariff escalations. The six-day 2025 Spring Meetings of the IMF and World Bank Group<\/a> will bring together policy makers, central bankers, economists, private sector leaders, and more to discuss what the year ahead holds.<\/p>\n

We\u2019re yet to hear who will be representing Egypt at the meetup<\/strong>, but we\u2019re expecting some of the most senior members of the cabinet to soon be jetting off to Washington DC for the event.<\/p>\n

You can check out the full schedule on the <\/strong>event\u2019s official website<\/a><\/strong>.<\/strong><\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n

\n

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

What else could it be? Tariffs are still top of mind for the global press<\/strong> \u2014 with US President Donald Trump laying down the foundation for a levy on chips and pharma, after launching a probe into the industries. The probes began at the start of the month and could take months to conclude, though Trump and other officials have said it could end quickly, with Trump even suggesting tariffs on imported chips could come as soon as next week. (Bloomberg<\/a> | FT<\/a> | Reuters<\/a> | NYT<\/a>) <\/p>\n

PLUS- Trump also signaled he could modify the 25% tax on foreign auto parts<\/strong>, saying he\u2019s a \u201cflexible guy\u201d and that automakers need some time. (AP<\/a>) <\/p>\n

Market reax: <\/strong>Auto shares rose on the news, with General Motors closing 3.5% higher and Ford closing 4.1% higher. Big Tech also seems to still be cheering the temporary reprieve<\/a> from the tariffs, with Apple now up 2.2% after losing more than 9% over the past two weeks. <\/p>\n

ALSO GETTING ATTENTION- Meta CEO Mark Zuckerberg took the stand yesterday in an antitrust trial <\/strong>that accuses it of building a social media monopoly and could force the company to sell off Instagram and WhatsApp. (AP<\/a> | WSJ<\/a> | NYT<\/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 spoke to SEKEM CEO Helmy Abouleish about why the homegrown agribusiness is placing a bold wager on the idea that sustainable agriculture is not just good ethics \u2014 it\u2019s good economics. <\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, folks. Investments coming our way from the Gulf is once leading the local business news cycle \u2014 this time from Qatar. Also in today\u2019s issue a new EGP 30 bn financing initiative offering industrial player 15% interest rates, a new big-ticket development courtesy of Majid Al Futtaim, and much, much, more. WEATHER- The […]<\/p>\n","protected":false},"author":1,"featured_media":663788,"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":[7204],"tags":[6681,72,125,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-663787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-egypt-saudi-relations","tag-enterpriseam","tag-investment-watch","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"dc716b1d-f25d-461c-b7dd-d9fe8b44f717","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/4\/875.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi projects to get the golden license treatment","related_issue":[663785],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.fb4e4131-c8f4-4d8a-92e0-b99987dcc947.mp3"},"yoast_head":"\nSaudi projects to get the golden license treatment - 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\/2025\/04\/15\/saudi-projects-to-get-the-golden-license-treatment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi projects to get the golden license treatment\" \/>\n<meta property=\"og:description\" content=\"Good morning, folks. 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She may be the latest and most advanced social robot but Sophia gives us serious \u201cGet Out\u201d vibes.A weeklong\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/3\/1910.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":670577,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/21\/el-sisi-heads-to-saudi-to-meet-mohammed-bin-salman\/","url_meta":{"origin":663787,"position":1},"title":"El Sisi heads to Saudi to meet Mohammed bin Salman","author":"enterpriseam admin","date":"21 August 2025","format":false,"excerpt":"The two will discuss strengthening bilateral cooperation and \u201cregional and international issues of mutual concern\u201d","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\/2025\/8\/173.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621643,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/14\/what-were-tracking-on-13-november-2018-spotify-in-egypt-education-and-the-workforce\/","url_meta":{"origin":663787,"position":2},"title":"What we\u2019re tracking on 13 November 2018: Spotify in Egypt, education and the workforce","author":"enterpriseam admin","date":"14 November 2018","format":false,"excerpt":"In miscellany this morning: Spotify launched yesterday in Egypt and several other Arab markets. The world\u2019s largest streaming music service will be available at a cost of EGP 49.99 per month in Egypt as well as 13 other regional markets, including the UAE and Morocco. Egypt, Saudi Arabia, the UAE,\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/369.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":636539,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/01\/saudi-to-convert-cbe-deposits-into-investments\/","url_meta":{"origin":663787,"position":3},"title":"Saudi to convert CBE deposits into investments","author":"enterpriseam admin","date":"1 August 2024","format":false,"excerpt":"Good afternoon, friends, the weekend is finally here and the news cycle is relatively subdued at home and abroad.THE BIG STORY TODAY Saudi plans to convert its deposits at the Central Bank of Egypt into investments, the Kingdom\u2019s Investment Minister Khaled Al Falih said today. The kingdom is also looking\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":628358,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/02\/expect-hot-and-dusty-weather-to-continue-today\/","url_meta":{"origin":663787,"position":4},"title":"Expect hot and dusty weather to continue today","author":"enterpriseam admin","date":"2 May 2018","format":false,"excerpt":"PSA- Expect hot and dusty weather to continue today across the country. The aftermath of a sandstorm that hit parts of Egypt on Monday, affecting visibility and closing several highways in the south, is expected to last until Friday, which will see the week\u2019s highest temperature at 40\u00b0C, the national\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/5\/206.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628616,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/09\/egyptian-indie-film-yomeddine-premieres-at-71st-cannes-film-festival-today\/","url_meta":{"origin":663787,"position":5},"title":"Egyptian indie film Yomeddine premieres at 71st Cannes Film Festival today","author":"enterpriseam admin","date":"9 May 2018","format":false,"excerpt":"We\u2019re beaming with pride this morning because Egyptian indie film Yomeddine premieres today at the 71st Cannes Film Festival. Yomeddine will compete in the prestigious event for the Palme d\u2019Or \u2014 the highest prize awarded at the annual festival. Directed by first-time Egyptian-Austrian filmmaker Abu Bakr Shawky, Yomeddine follows the\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/5\/532.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\/663787","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=663787"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/663787\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/663785"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/663788"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=663787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=663787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=663787"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=663787"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=663787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}