{"id":665213,"date":"2025-05-14T00:00:00","date_gmt":"2025-05-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/14\/el-khatib-is-in-moscow-for-joint-committee-meetings\/"},"modified":"2025-05-14T00:00:00","modified_gmt":"2025-05-14T00:00:00","slug":"el-khatib-is-in-moscow-for-joint-committee-meetings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/14\/el-khatib-is-in-moscow-for-joint-committee-meetings\/","title":{"rendered":"El Khatib is in Moscow for joint committee meetings"},"content":{"rendered":"

Good morning, all.<\/strong> We lead today\u2019s issue with news of two big projects kicking off operations in Sokhna Industrial Zone, the EBRD trimming our 2025 and 2026 growth forecasts, and Beltone\u2019s 1Q earnings. <\/p>\n

<\/a> Did you feel the earthquake? <\/strong>A 6.4 magnitude earthquake that hit Greece was felt in areas of Egypt in the early hours of the morning, according to the National Research Institute of Astronomy and Geophysics<\/a>. No damages or casualties were reported in Egypt. The earthquake was also reportedly felt in Turkey and Libya\/<\/p>\n

PSA- <\/p>\n

WEATHER- <\/strong>It\u2019s another warm day in Cairo, with a high of 31\u00b0C and a low of 19\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s much cooler in Alexandria<\/strong>, with a high of 25\u00b0C and a low of 18\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

<\/a> Some activities<\/strong> will soon be exempt from <\/strong>invoicing<\/strong> after the government issues the executive regulations for the 2023 law introducing amendments to the Income Tax Law, Egyptian Tax Authority head Rasha Abdel Aal said during an event attended by EnterpriseAM, naming agricultural activity, dairy production, and certain handicrafts. The law gives the Finance Minister the right to exempt specific sectors. The executive regulations will be out soon, she said. <\/p>\n

The regulations have been finalized <\/strong>and currently await the government to finalize its decision regarding replacing the capital gains tax \u2014 which is part of the law \u2014 with the stamp tax, a government source told us. He added that introducing the stamp tax on capital gains is the most likely scenario \u2014 the EGX and the Financial Regulatory Authority are currently working together to reintroduce the stamp tax. <\/p>\n

THE DETAILS? <\/strong>We have more on the upcoming stamp tax in our previous coverage of the story, here<\/a>. <\/p>\n

HAPPENING TODAY-<\/p>\n

<\/a> El Khatib is in Moscow for joint committee meetings: <\/strong>Investment Minister Hassan El Khatib is in Moscow today to take part in the Egyptian-Russian Joint Committee for Trade, Economic, Scientific, and Technical Cooperation, according to a statement<\/a>. The two-day meetings aim to deepen ties between the two nations across trade, industry, and investment.<\/p>\n

On the agenda:<\/strong> El Khatib is set to hold talks with Russian Industry and Trade Minister Anton Alikhanov on ways to boost economic cooperation. El Khatib will also attend a roundtable with Russian business leaders and investors and take part in a workshop promoting the Russian Industrial Zone in Egypt.<\/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

\n

CIRCLE YOUR CALENDAR- <\/p>\n

#1- Calling all real estate developers and investors:<\/strong> Proptech platform Aqarmap is hosting an Egyptian-Saudi real estate summit in Cairo\u2019s Nile Ritz-Carlton on Sunday, 18 May, the company said in a press release (pdf)<\/a>. The event will bring together developers, investors, and policymakers from Egypt and Saudi Arabia to discuss cross-border investment, market trends, and digital transformation in the sector.<\/p>\n

#2- ITIDA\u2019s <\/strong>Software Engineering<\/strong> Competence Center (SECC) will host its <\/strong>Software Testing<\/a><\/strong>Day<\/a><\/strong> on Monday, 19 May<\/strong> at the Creative Innovation Hub, Creativa, in Giza. The event will be held under the theme \u201cSoftware Testing Evolution: Innovating with AI and DevOps\u201d and will bring together local and international experts and tech leaders to discuss AI, DevOps integration, skill building, and talent cultivation. You can register to attend through the link<\/a> available on the SECC\u2019s website. <\/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

Trump kickstarted his Middle East tour with a pledge to lift the longstanding \u2014 and <\/strong>crippling \u2014 sanctions in place against Syria and a USD 600 bn Saudi investments package. <\/strong>Trump is also set to \u201csay hello\u201d today to Syria\u2019s new leader Ahmed Al Sharaa, while Secretary of State Mark Rubio will meet his Syrian counterpart in Turkey soon. <\/p>\n

The Saudi-US summit saw the signing of 145 agreements totalling USD 300 bn<\/strong> at the Saudi-US Business Forum, with the rest of the USD 600 bn package to be announced in the coming months. The Kingdom is set to eventually round out the figure to USD 1 tn in a second phase, Crown Prince Mohammed bin Salman said in his speech. AI was a big theme, with Riyadh-based DataVolt planning to invest USD 20 bn in US-based AI data centers and energy infrastructure. <\/p>\n

PLUS- Companies like Google, Oracle, Salesforce, AMD, and Uber have agreed to some USD 80 bn in joint technology investments<\/strong> in the US and the Kingdom. <\/p>\n

The US also agreed its biggest defense cooperation agreement to date<\/strong>, with a USD 142 bn defense package for the Kingdom.<\/p>\n

<\/p>\n

*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt:<\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p>\n

In today\u2019s issue: <\/strong>We look at proposed amendments to the laws around supply and installation services to remove their special tax treatment and their potential impact.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, all. We lead today\u2019s issue with news of two big projects kicking off operations in Sokhna Industrial Zone, the EBRD trimming our 2025 and 2026 growth forecasts, and Beltone\u2019s 1Q earnings. Did you feel the earthquake? 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We have some updates on our PMI figures that arrived earlier during the business day. THE BIG STORY TODAY Egypt\u2019s non-oil sector activity declined at a slower pace in March: Egypt\u2019s purchasing manager index (PMI) figure \u2014 which tracks the country\u2019s non-oil\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\/758.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":659805,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/02\/el-khatib-in-kuwait-for-investment-talks\/","url_meta":{"origin":665213,"position":1},"title":"El Khatib in Kuwait for investment talks","author":"enterpriseam admin","date":"2 February 2025","format":false,"excerpt":"Good afternoon, wonderful people, and welcome to a new week and a new month. We\u2019re starting off with a full issue today, following investment talks, measures to curb industrial land hoarding, and the tech to keep an eye on in 2025.THE BIG STORY TODAY- El Khatib touches down in Kuwait\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\/2025\/2\/94.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":606012,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/10\/morocco-earthquake-g20-summit-dominate-coverage-on-the-airwaves\/","url_meta":{"origin":665213,"position":2},"title":"Morocco earthquake, G20 summit dominate coverage on the airwaves","author":"enterpriseam admin","date":"10 September 2023","format":false,"excerpt":"Morocco\u2019s deadly earthquake dominated the airwaves last night,with Al Hayah Al Youm (watch, runtime: 4:26), Masaa DMC (watch, runtime: 6:52), and Ala Mas\u2019ouleety (watch, runtime: 2:47) all providing coverage of the disaster which has killed more than 2k people. El Hekaya\u2019s Amr Adib, who was back from his summer break\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/683.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598381,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/egypt-announces-formation-of-its-egp-200-bn-sovereign-wealth-fund-bod\/","url_meta":{"origin":665213,"position":3},"title":"Egypt announces formation of its EGP 200 bn sovereign wealth fund BoD","author":"enterpriseam admin","date":"23 May 2019","format":false,"excerpt":"Habemus SWF board members: The Planning Ministry announced yesterday the formation of the board of directors for the planned EGP 200 bn sovereign wealth fund (watch, runtime: 0:58). The board will be headed by Planning Minister Hala El Said as a non-executive chairman and includes representatives from the planning, finance,\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":583323,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/this-evening-the-sfe-could-snag-a-piece-of-el-ezaby-syrias-earthquake-gets-more-attention-in-the-foreign-press\/","url_meta":{"origin":665213,"position":4},"title":"THIS EVENING: The SFE could snag a piece of El Ezaby + Syria\u2019s earthquake gets more attention in the foreign press","author":"enterpriseam admin","date":"19 February 2023","format":false,"excerpt":"Good afternoon, ladies and gents, and welcome to the start of a new week. It\u2019s a calmer-than-expected Sunday so far, but we expect things to kick into high gear in the days ahead.THE BIG STORY TODAY-\u2019Does SFE want a piece of El Ezaby Pharmacy? The Sovereign Fund of Egypt\u2019s (SFE)\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\/wp-content\/uploads\/2021\/07\/pharmacy-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":671155,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/01\/incoming-updates-to-red-sea-land-use-and-investment-rules\/","url_meta":{"origin":665213,"position":5},"title":"Incoming updates to Red Sea land use and investment rules","author":"enterpriseam admin","date":"1 September 2025","format":false,"excerpt":"Good afternoon, friends, and congratulations on making it to the halfway mark of a (now officially) shorter-than-usual workweek, with the Labor Ministry confirming Thursday, 4 September a holiday in commemoration of the Prophet Muhammad\u2019s birthday.THE BIG STORY TODAY- The government is preparing new rules for land use and investment along\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\/2024\/10\/1155.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\/665213","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=665213"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/665213\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/665211"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/665214"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=665213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=665213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=665213"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=665213"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=665213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}