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  • Egypt: Registration mandatory for foreign factories and trademark-owning companies

    Content Types: ArticleRegions & Countries: EgyptIndustries: Commodities & Trade Services: Legal
    On the 17 of April 2022, the General Organization for Import and Export Control (GOEIC) announced the suspension of import activities of over 800 foreign companies and factories to Egypt for failing to register their companies in the importer’s registry in Egypt. Amongst the suspended companies are notable pharmaceutical, beverage, and consumer goods companies.
  • Egypt - Issuance of Law No. 8 of 2022 (the “Hotels and Tourism Establishments Law”)

    Content Types: ArticleRegions & Countries: EgyptIndustries: InsuranceServices: Legal
    On the 6th of March 2022, Law No. 8 of 2022 regulating the Hotels and Tourism Establishments (the “Law”) was issued nullifying its predecessor law No. 1 of 1973 and setting out the licensing and regulatory requirements for hotel and tourism establishments.
  • Legal Update: GPS Tracking for Touristic Vehicles in Egypt

    Content Types: ArticleRegions & Countries: EgyptIndustries: TourismServices: Legal
    Ministry of Tourism and Antiquities Decree no. 304 of 2021 provides that tourism companies that fall under category (A or C) are required to install tracking devices in their vehicles in accordance with the technical specifications within the framework plan set out by the competent general department of the Ministry of Tourism and Antiquities.
  • Legal Update: Egypt Allows establishment of SPACs to facilitate acquisitions

    Content Types: ArticleRegions & Countries: EgyptIndustries: Banking & FinanceServices: Legal
    On 31 October 2021, the board of Financial Regulatory Authority (“FRA”) issued Decree number 163 of 2021, which approved that the venture capital companies may be licensed to conduct establishment of Special Purposes Acquisition Companies (“SPACs”). The said decree indicates that the licensing requirements shall be determined through executive regulations to be issued by FRA.
  • IFN Roadshow Egypt

    Content Types: EventRegions & Countries: EgyptIndustries: Banking & Finance
    After years of struggling to launch, Egypt’s Sukuk market has finally taken off with the issuance of the country’s first corporate Sukuk in 2020. The Egyptian House of Representatives has also given its final approval for the draft Sovereign Sukuk Law, which outlines the terms for issuing sovereign Sukuk.
  • Legal Update: New Car Advertising Guidelines in Egypt

    Content Types: ArticleRegions & Countries: EgyptIndustries: AutomotiveServices: Legal
    The Decree stipulates that all automotive companies and showrooms in Egypt must display the cars’ prices in Arabic (along with any other language if desired), and that such announced prices must be inclusive of any applicable taxes.
  • MENA's investment and disinvestment balancing act

    Content Types: ArticleRegions & Countries: United Arab EmiratesEgypt...Industries: Banking & FinanceCommodities & Trade ...
    We invite you to read as we look beyond the pandemic with the updated issue of “MENA Post-COVID: Green Shoots & Recovery”.
  • IFC to save Egyptian farmers US$875m annually by fostering transition to solar irrigation systems

    Content Types: ArticleRegions & Countries: EgyptIndustries: Clean EnergyAgribusiness...
    EGYPT – IFC, a member of the World Bank Group has partnered with ALEXBANK, an Egyptian private bank to provide financing to farmers to enable them transition to use of sustainable irrigation systems.
  • New Country Views - Egypt: Reform anchor pays off

    Content Types: ArticleRegions & Countries: ChinaEgyptIndustries: All
    While the COVID-19 pandemic has not passed Egypt by, the country has managed to weather the storm relatively well. Egypt is set to be the only country in MENA to see its GDP remain in the positive territory at 3.5% growth, a figure most analysts did not forecast at the onset of troubles this year. This week, we analyse the repercussions of the pandemic on the state budget and overall fiscal position.
  • Middle Eastern retailer LuLu Group acquires US$1 billion for expansion in Egypt

    Content Types: ArticleRegions & Countries: EgyptIndustries: Lifestyle & Consumer Goods
    LuLu International Holdings (LIHL), one of the leading hypermarkets & supermarket chains in the Middle East has entered into a non-binding agreement with Abu Dhabi headquartered investment firm, ADQ to acquire US$1 billion for expansion in Egypt.

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