{"id":674280,"date":"2025-10-27T00:00:00","date_gmt":"2025-10-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/27\/saudi-arabia-remains-undecided-regarding-potential-red-sea-investments\/"},"modified":"2025-10-27T00:00:00","modified_gmt":"2025-10-27T00:00:00","slug":"saudi-arabia-remains-undecided-regarding-potential-red-sea-investments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/27\/saudi-arabia-remains-undecided-regarding-potential-red-sea-investments\/","title":{"rendered":"Saudi Arabia remains undecided regarding potential Red Sea investments"},"content":{"rendered":"

Good morning, all.<\/strong> After a slow start to the week, the news flow has picked up with Prime Minister Moustafa Madbouly\u2019s day out in Sokhna leading the news well. Madbouly inaugurated a long list of projects \u2014 totaling USD 47 mn \u2014 during a visit to the Sokhna Industrial Zone, where he also witnessed the inauguration of DP World\u2019s USD 85 mn logistics zone.<\/p>\n

ALSO IN TODAY\u2019S ISSUE- <\/strong>China could exempt Egyptian goods from duties as early as next month and Saudi Arabia is yet to decide on any potential Red Sea investments. <\/p>\n

PSA- <\/p>\n

<\/a> Do you wor<\/strong>k on Saturdays? If that\u2019s the case, you will be getting this Saturday off <\/strong>\u2014 for both the public and private sectors \u2014 to mark the opening of the Grand Egyptian Museum (GEM), the Labor Ministry said in a statement<\/a> following an earlier announcement<\/a> for public sector workers.<\/p>\n

Excited for the grand opening of the even grander GEM? <\/strong>EnterpriseAM has you covered. <\/strong>The first of four weekly special issues about the GEM will land in your inbox this Wednesday, charting the museum\u2019s journey from the launch of a record-breaking international design competition to the final stages of completion and capturing the challenges, milestones, and unwavering ambition that brought it to life.<\/p>\n

<\/p>\n

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WEATHER- <\/strong>It\u2019s another sunny day in Cairo, with a high of 29\u00b0C and a low of 20\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s more or less the same in Alexandria<\/strong>, with a high of 28\u00b0C and a low of 19\u00b0C.<\/p>\n

WATCH THIS SPA<\/strong>CE- <\/p>\n

<\/a> #1- An investment in Ras Gamila \u2014 or our Red Sea coast all together \u2014 is not on Saudi Arabia\u2019s list of priorities at the <\/strong>moment<\/strong>, with the Kingdom more concerned with boosting its own hotel space, Saudi Tourism Minister Ahmed Al Khateeb said<\/a> yesterday. The nation remains undecided on any potential Red Sea investments, the minister said. This comes as the Madbouly government works to replicate the success of Ras El Hekma, seeking fresh Gulf investments<\/a> to develop more tourism projects across the country. <\/p>\n

REMEMBER- <\/strong>According to unconfirmed reports<\/a> out last year, Saudi Arabia\u2019s Ajlan & Bros Holding had filed an offer to the Madbouly government to secure a land plot at Sharm El Sheikh\u2019s Ras Gamila to set up ten hotels with 3k keys in the first phase of a bigger development plan. However, the government said at the time that it will not study any offers for the land ahead of the appointment of an international advisor. <\/p>\n

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<\/a> #2- Attention, expats: <\/strong>Egyptians residing abroad can now open local bank accounts with Banque Misr or the National Bank of Egypt under the central bank and Foreign Ministry\u2019s newly-launched Open Your Account in Egypt initiative, according to a statement<\/a>. Expats can visit Egyptian embassies and consulates abroad to fill out the necessary paperwork to set up their Egyptian bank accounts.<\/p>\n

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#3- Brokerage<\/strong> firms will soon be allowed to operate as liquidity providers, <\/strong>authorized <\/strong>agents, and market makers<\/strong>, under amendments now being finalized by the Financial Regulatory Authority (FRA), Mohamed Ayad, chief communication officer at the FRA, told EnterpriseAM. The draft decree, which is still under consultation with market participants, will be issued \u201cvery soon\u201d pending FRA Chairman Mohamed Farid\u2019s sign-off. The move aims to enhance market efficiency and competitiveness rather than simply boost turnover. \u201cAs a regulator, our goal is to make sure the market has all the mechanisms needed to stay competitive,\u201d Ayad said. <\/p>\n

The incentives at play: <\/strong>The authority is mulling incentives for market makers and liquidity providers through reduced charges on EGX and Misr Clearing services while keeping contributions to the Investor Protection Fund in place.<\/p>\n

What this means on the ground: <\/strong>A market maker keeps trading active by constantly posting buy and sell prices. A liquidity provider steps in when demand is thin to keep trade moving, while an authorized agent can help issuers support liquidity in their own shares. Together, these roles are meant to make trading smoother, narrow price gaps, and steady daily volumes. <\/p>\n

IN PARALLEL- <\/strong>The FRA is preparing regs to license credit rating agencies for carbon credit certificates, a step toward establishing a regulated voluntary carbon market. Ayad said the move is intended to build investor confidence and prevent greenwashing, ensuring certificates comply with FRA standards and can be traded transparently under the watchdog's oversight.<\/p>\n

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DATA POINT- <\/p>\n

Egypt\u2019<\/strong>s economy ranked 18th among the world\u2019s largest economies based on <\/strong>purchasing power parity in 2025<\/strong>, according to data<\/a> from the International Monetary Fund. It represents around 1.14% of global output, ranking second in the Arab world, behind Saudi Arabia. <\/p>\n

HAPPENING TOMORROW- <\/p>\n

<\/a> BEBA will host Finance Minister Ahmed Kouchouk and Investment Minister <\/strong>Hassan El Khatib tomorrow for a<\/strong><\/a><\/strong>working early dinner<\/a><\/strong> at Sheraton Cairo Hotel. The conversation with the two senior members of the cabinet\u2019s economic team will be followed by a Q&A session.<\/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

** DID YOU KNOW that we 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

\n

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Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at Russia\u2019s USD 5 bn industrial zone in Egypt, which is set to break ground in 2026. Check out the story here<\/a>.<\/p>\n

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

All eyes are on US-Asia ties this morning<\/strong>, as the US and China look closer to agreeing a truce on tariffs that would do away with the US\u2019 100% tariff on Chinese imports and delay China\u2019s rare earth export controls. US officials say a framework has already been hashed out for US President Donald Trump and Chinese President Xi Jinping to ratify when they meet on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea, on Thursday. (Reuters<\/a> | Bloomberg<\/a> | Financial Times<\/a> | Wall Street Journal<\/a>)<\/p>\n

Trump is still covering his bases with agreements with other Southeast Asia partners<\/strong> that will relax trade barriers and expand rare earth elements\u2019 access for the US. The agreements with Malaysia, Thailand, Vietnam, and Cambodia comes as the US looks to diversify its critical minerals supply chains. (Reuters<\/a> | Bloomberg<\/a>) <\/p>\n

In M&A news, Swiss pharma firm Novartis is acquiring rare disease drugmaker Avidity for USD 12 bn<\/strong> \u2014 its largest acquisition yet. (Bloomberg<\/a> | WSJ<\/a>)<\/p>\n

AND- The latest on the Louvre heist: <\/strong>French police arrested two suspects they say could be related to the theft of bns worth of jewels from Paris\u2019 Louvre Museum last week. (Guardian<\/a> | Reuters<\/a>) <\/p>\n

<\/p>\n

*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p>\n

In today\u2019s issue:<\/strong> We look at the influx of German public schools soon to open their doors for students as part of efforts to expand international partnerships in education. <\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, all. After a slow start to the week, the news flow has picked up with Prime Minister Moustafa Madbouly\u2019s day out in Sokhna leading the news well. 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We hope this finds you well and that your air filters are earning their keep today. We come with glad tidings of two new industrial zone factories breaking operational ground in Ain Sokhna, alongside details on Trump\u2019s Mideast tour, and Google\u2019s rough week.THE BIG STORY TODAY Two\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\/4\/2250.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":644393,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/25\/elsewedy-electric-partners-with-siemens-to-develop-usd-800-mn-power-plant-in-saudi-arabia\/","url_meta":{"origin":674280,"position":1},"title":"Elsewedy Electric partners with Siemens to develop USD 800 mn power plant in Saudi Arabia","author":"enterpriseam admin","date":"25 September 2024","format":false,"excerpt":"The move comes as more and more Egyptian firms bring their expertise to bear in the Saudi market","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1937.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":645179,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/13\/saudi-arabias-tourism-investments-in-egypt-are-on-the-rise\/","url_meta":{"origin":674280,"position":2},"title":"Saudi Arabia\u2019s tourism investments in Egypt are on the rise","author":"enterpriseam admin","date":"13 July 2017","format":false,"excerpt":"Saudi Arabia\u2019s tourism investments in Egypt are on the rise, with Tourism Minister Yehia Rashid reportedly stating that they are on track to rise 30% by 2020, writes Nada Al Rifai for Thomson Reuters\u2019 Zawya. 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