saasaMay 15, 2004 - AmCham · -3- Compiled by: Business Studies & Analysis Center (BSAC) Subscribe...

March 1, 2014

ECONOMY ...................................................................... 4

PRIME MINISTER IBRAHIM MEHLEB APPOINTS NEW

MINISTERS 4 Newly appointed Prime Minister Ibrahim Mehleb formed Egypt’s new cabinet met with each

minister, ................................................................................................. 4

UNEMPLOYMENT STABLE AT 13.6% IN 4Q2013 4 Egypt’s unemployment rate remained unchanged in the fourth quarter of 2013 at 13.4% of a

labor force of 27.3 million people. ...................................................................... 4

FINANCE ........................................................................ 5

MOODY'S SAYS EGYPT'S BANKING SYSTEM OUTLOOK REMAINS

NEGATIVE 5 The outlook for Egypt's banking system is negative, unchanged since 2011, says Moody's

Investors Service......................................................................................... 5

CENTRAL BANK EARMARKS USD1.44 BILLION FOR LOW-COST

HOUSING 5

-1- Compiled by: Business Studies & Analysis Center (BSAC)

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The Central Bank of Egypt (CBE) announced it would allocate EGP10 billion (USD1.44

billion) for low-cost housing projects.. ................................................................. 5

EFG-HERMES SEEKS TO INCREASE EGYPT AUM BY 25% 5 EFG-Hermes is seeking to expand its assets under management in Egypt by 25% in 2014, said

the head of asset management; ......................................................................... 5

CITADEL CAPITAL COMPLETES INVESTMENT PURCHASES OF

EGP3.7 BILLION 6 Citadel Capital has completed its planned purchases of additional stakes in its platform

companies totaling EGP3.7 billion ..................................................................... 6

LAWS & REGULATIONS ...................................................... 6

TAX AUTHORITY CANCELS BAND-ROLL IMPLEMENTATION ON

CIGARETTES 6 The Egyptian Tax Authority cancelled the band-roll implementation on box cigarette packs

until further notice due to technical malfunctions.. .................................................... 6

INVESTMENT LAW PROHIBITS THIRD PARTY CHALLENGE TO

CONTRACTS 6 Egypt's draft investment law contains provisions to prevent third parties from challenging

contracts made between the government and an investor;. ............................................ 6

PROJECTS ....................................................................... 7

OCI NV SELECTS AIR LIQUIDE TECHNOLOGY FOR NEW

NATGASOLINE PROJECT 7 OCI NV announced that it’s wholly owned subsidiary Natgasoline LLC has signed license and

engineering design agreements with Air Liquide, ....................................................... 7

EL SEWEDY ELECTRIC TO DELIVER FIRST WIND TURBINE IN

JORDAN 7 El Sewedy Electric (link here) is delivering its first wind turbine in Jordan for EUR3 million, the

company announced in a press release.. ................................................................ 7

BUILDING MATERIALS ...................................................... 7

SUEZ CEMENT INAUGURATES WASTE PROCESSING PLANT FOR

ELECTRICITY GENERATION 7 Suez Cement has inaugurated its waste processing plant to generate electricity.. ..................... 7




INDUSTRY ...................................................................... 8

SAUDI AUJAN COCA-COLA PLANS USD100 MILLION FRUIT-JUICE

FACTORY IN EGYPT 8 Saudi Arabia's Aujan Coca-Cola Beverages Company plans to spend USD100 million building a

fruit-juice factory in Egypt over the next few years,. ................................................... 8

IT & TELECOMMUNICATION ............................................. 8

MOBILE SUBSCRIBERS APPROACHED 100 MILLION THRESHOLD

BY YEAR-END 2013 8 Egypt’s mobile market reached 99.7 million subscribers as of year-end 2013, with net additions

of 3 million subscribers during the year.. ............................................................... 8

REAL ESTATE .................................................................. 8

HDB TO PUMP USD57 MILLION IN SMALL REAL ESTATE

PROJECTS 8 Housing and Development Bank plans to pump EGP400 million (USD57.42 million) into

small- and medium-sized projects in Egypt. ............................................................ 8

TOURISM ........................................................................ 9

BOMB ATTACK KILLS FOUR ON TOURIST BUS NEAR ISRAELI

BORDER 9 A bomb struck a bus packed with South Korean tourists near Egypt’s border with Israel, killing

four people,. ............................................................................................. 9

LEGISLATIVE UPDATE ................................................. 10

BSAC PUBLICATIONS .................................................. 17

IMPORTANT LINKS ...................................................... 19




Economy

PRIME MINISTER IBRAHIM MEHLEB APPOINTS NEW MINISTERS

Source: Beltone, February 27, 2014

Newly appointed Prime Minister Ibrahim Mehleb formed Egypt’s new cabinet met

with each minister, addressing what their ministry will focus on in the next stage.

Doria Sharaf El-Din, who was reappointed minister of information, said Mehleb

tasked her with upholding a slogan for the media: Reconciliation with the people.

Mehleb merged a total of 12 ministries, amongst are: 1) the Ministries of Trade

and of Investment (link here), headed by Mounir Fakhry Abdel Nour, 2) the

Ministries of Higher Education and of Scientific Research (link here),

headed by Ashraf Mansour, 3) the Ministries of Transitional Justice and of the

House of Representatives, headed by Amin Al-Mahdi,4) the ministries

of Planning and of International Cooperation (link here), headed by Ashraf

El-Araby, and 5) the Ministries of Local Development and of Administrative

Development, headed by Adel Labib. Khaled Hanafi was also appointed as new

minister of Supply and Mohamed Shaker replaced Ahmed Imam as minister of

Electricity (link here). Nahed Al-Ashry was appointed as the new minister of

Manpower (link here), replacing Kamal Abu Eita. Ghada Wali, the new minister

of Social Solidarity. Other ministers who dodged the latest reshuffle include:

Minister of Agriculture (link here) Ayman Abu Hadid, Minister of Petroleum

(link here) Sherif Ismail, Minister of Communication (link here) Atef Helmy,

and Minister of Education (link here) Mahmoud Abul Nasr.

Contents

UNEMPLOYMENT STABLE AT 13.6% IN 4Q2013

Source: Ahram Online, February 18, 2014

Egypt’s unemployment rate remained unchanged in the fourth quarter of 2013 at

13.4% of a labor force of 27.3 million people. Unemployment among young

people aged 15-29 hit 69% of the labor force in the last quarter of 2013. More

than 82% of them hold diplomas and university degrees. Since the 2011

revolution, the number of the unemployed increased by 1.3 million to 3.65 million

people in the last quarter of 2013. According to CAPMAS (link here), the

unemployment rate among male workers reached 10%, while among females it

was 25%. Urban areas experienced a modest rise in unemployment rate to

17.6%as compared to 16.7% in the previous quarter. Unemployment in rural

areas shrunk to 10.1% from 10.8% in the previous quarter.

Contents




http://www.mfti.gov.eg/English/

http://www.egy-mhe.gov.eg/en

http://www.mop.gov.eg/

http://www.moee.gov.eg/english/e-fr-main.htm

http://www.coke.eg/pages/landing/index.html

http://www.agr-egypt.gov.eg/En_Default.aspx

http://www.petroleum.gov.eg/en/pages/default.aspx

http://www.mcit.gov.eg/

http://portal.moe.gov.eg/Pages/default.aspx

http://www.capmas.gov.eg/

Finance

MOODY'S SAYS EGYPT'S BANKING SYSTEM OUTLOOK REMAINS NEGATIVE


The outlook for Egypt's banking system is negative, unchanged since 2011, says

Moody's Investors Service (link here). Moody's acknowledges the recent

steps taken toward political stabilization; yet attribute the negative outlook to

continuing political and social tensions and the government's strained finances,

which in Moody's view will continue to undermine investor and consumer

confidence. Furthermore, the banks' exposure to Caa1-rated Egyptian

government debt poses a significant credit risk and ties the system's solvency to

sovereign default risk. Moody's forecasts GDP growth of 2.6% in 2014, well below

the historical average of 4.9% between 2001 and 2010. However, Moody's

acknowledges the economy is relatively large and diversified, and could — in the

medium-term — regain strength once structural and fiscal issues are addressed.

On a positive note, Moody's expects Egyptian banks to remain well funded

because of their strong deposit bases. Customer deposits accounted for more

than three quarters of banking assets as of September 2013, supported by

remittances from Egyptians working abroad. The large pool of deposits enables

Egyptian banks to operate with minimal reliance on riskier market and/or foreign

funding. In November 2013, S&P (link here) raised its rating on four Egyptian

banks and assigned them a stable outlook from negative, following a similar

action on Egypt's sovereign rating. Fitch (link here) has taken a similar decision

on Egypt and three Egyptian banks in January 2014.

Contents

CENTRAL BANK EARMARKS USD1.44 BILLION FOR LOW-COST HOUSING

Source: Reuters, February 19, 2014

The Central Bank of Egypt (CBE) (link here) announced it would allocate

EGP10 billion (USD1.44 billion) for low-cost housing projects. The money will be

deposited to banks for 20 years at a low interest rate to lend it to citizens who

qualify to buy houses at a yearly interest rate of 7-8%.

Contents

EFG-HERMES SEEKS TO INCREASE EGYPT AUM BY 25%


EFG-Hermes (AmCham Member) (link here) is seeking to expand its assets

under management in Egypt by 25% in 2014, said the head of asset

management; Nabil Moussa. EFG-Hermes has USD3.0 billion in assets under

management (AUM), with USD1.9 billion managed from Egypt, while the rest

from Dubai. Moussa said the return on the company's equity funds in Egypt was

between 25% and 30% in 2013, compared with 45% in 2012. We imagine the

targeted growth will be mostly driven by improved market performance given the

regulations introduced by the central bank in May 2013 that capped the size of

money market funds to 1.5% of the sponsoring banks' LCY deposits (or 2% of




https://www.moodys.com/

http://www.standardandpoors.com/en_US/web/guest/home

https://www.fitchratings.com/web/en/dynamic/fitch-home.jsp

http://www.cbe.org.eg/English/

http://www.efg-hermes.com/English/Home.aspx

their Tier-1 capital, whichever is lower) and limiting new subscriptions and

therefore growth in this area. In the nine-month period ending September 2013,

the company's AUMs dropped 13% on net outflows to EGP3.0 billion, where

redemptions on the company's money market funds represented 89% of total

outflows during the period.

Contents

CITADEL CAPITAL COMPLETES INVESTMENT PURCHASES OF EGP3.7 BILLION


Citadel Capital (AmCham Member) (link here) has completed its planned

purchases of additional stakes in its platform companies totaling EGP3.7 billion as

part of its ongoing transformation into an investment company that will hold

majority stakes in its subsidiaries in five core industries: energy, transportation,

agrifoods, mining, and cement. The asset purchases cover the platform

companies and subsidiaries outlined in the group's submitted forms as approved

by the EFSA. Citadel Capital's board accepted a report by its independent auditor

(KPMG) (AmCham Member) (link here) certifying the EGP3.7 billion in

liabilities to co-investors and shareholders arising from these securities

purchases. These liabilities will be capitalized during the second subscription

round for the capital increase, thereby resulting in full subscription to the share

issuance. The closing date for the first round of subscriptions was February 13,

2014 with hardly any coverage, and the second round is expected to be

completed in March 2014.

Contents

Laws & Regulations

TAX AUTHORITY CANCELS BAND-ROLL IMPLEMENTATION ON CIGARETTES

Source: Beltone, March 2, 2014

The Egyptian Tax Authority cancelled the band-roll implementation on box

cigarette packs until further notice due to technical malfunctions. The authority

explained that international bidders approached to amend Eastern Tobacco’s

(link here) machinery to be compatible with the implementation of the band roll

failed to meet required specifications, leading the authority to call off the plan. It

remains unclear whether the recently applied implementation of the band roll to

50% of soft-pack production will be cancelled. It is believed that the cancelation

of the band roll is positive for Eastern Tobacco, especially since management

noted earlier that the band-roll implementation program would cause the

company to incur EGP120 million per annum in additional costs.

Contents

-6-

INVESTMENT LAW PROHIBITS THIRD PARTY CHALLENGE TO CONTRACTS

Source: Reuters, February 25, 2014

Egypt's draft investment law contains provisions to prevent third parties from

challenging contracts made between the government and an investor; a cabinet

source said on Monday, a move designed to attract much-needed investment.

The clauses are intended to reassure investors unnerved by previous legal

Compiled by: Business Studies & Analysis Center (BSAC)



http://citadelcapital.com/

http://www.kpmg.com/eg/en/pages/default.aspx

http://www.easternegypt.com/

challenges to such deals, some of which have left companies sold by the

government in legal limbo.

Contents

Projects

OCI NV SELECTS AIR LIQUIDE TECHNOLOGY FOR NEW NATGASOLINE PROJECT


OCI NV (link here) announced that it’s wholly owned subsidiary Natgasoline LLC

has signed license and engineering design agreements with Air Liquide (link here), a world leader in gases, technologies, and services for industry and

health. The company expects to sign the engineering, procurement, and

construction contract by the end of March 2014, with commercial methanol

production scheduled to begin in 4Q2016. Natgasoline’s design capacity stands

at 1.75 mtpa. On a different note, OCI NV announced the extension of the second

period during which all eligible shareholders of Orascom Construction

Industries (AmCham Member) (link here) S.A.E. may accept an exchange

offer to exchange their shares into OCI NV shares or a cash alternative of

EGP255.00/share. The first extension period was held on September 29, 2013 to

October 3, 2013 and the second extension period was held between January 19,

2014 and January 23, 2014. The second period will be reopened between

February 16, 2014 and February 27, 2014.

Contents

EL SEWEDY ELECTRIC TO DELIVER FIRST WIND TURBINE IN JORDAN

Source: Company Discourse, February 20, 2014

El Sewedy Electric (link here) is delivering its first wind turbine in Jordan for

EUR3 million, the company announced in a press release. El Sewedy Electric is

also bidding for a number of projects in Egypt including: i) 100MW wind project;

and ii) two power projects for MW 2,250 each. These projects are still in the

tendering process and have not yet been awarded.

Contents

Building Materials

SUEZ CEMENT INAUGURATES WASTE PROCESSING PLANT FOR

ELECTRICITY GENERATION

Source: Shorouk, February 18, 2014

Suez Cement (AmCham Member) (link here) has inaugurated its waste

processing plant to generate electricity. The plant had an investment cost of

EUR5 million and will generate 20% of the Katamiyya facility’s energy needs. The

company also plans to add another line to the facility that would doubles the

electricity generated by waste processing to 40%.

Contents




http://www.ocinv.nl/

http://www.airliquide.com.eg/



http://www.orascomci.com/index.php?id=home

http://www.elsewedyelectric.com/FE/Common/Default.aspx

http://www.suezcement.com.eg/ENG

Industry

SAUDI AUJAN COCA-COLA PLANS USD100 MILLION FRUIT-JUICE FACTORY IN EGYPT

Source: Reuters, March 2, 2014

Saudi Arabia's Aujan Coca-Cola Beverages Company (AmCham Member)

(link here) plans to spend USD100 million building a fruit-juice factory in Egypt

over the next few years, a senior executive said on Monday, despite the

challenges facing there after three years of political turmoil. Meshal Alkadeeb,

vice president of strategy and business development, said the money would cover

buying the land and setting up the factory in Egypt, which Aujan sees as a North

Africa hub, mainly for Algeria and Libya. "The plant will be commissioned between

2016 and 2017. We just started working on it," Alkadeeb said. "Right now, the

biggest challenge for investing in Egypt would be infrastructure. They've realized

this and them working seriously on addressing the gaps," said Alkadeeb.

Contents
IT & Telecommunication
MOBILE SUBSCRIBERS APPROACHED 100 MILLION THRESHOLD BY YEAR-

END 2013

Source: Al Borsa, February 23, 2014

Egypt’s mobile market reached 99.7 million subscribers as of year-end 2013, with

net additions of 3 million subscribers during the year. On a monthly basis,

December witnessed the strongest growth with net additions of 300,000 users.

Vodafone Egypt (AmCham Member) (link here), 45%-owned by Telecom

Egypt (AmCham Member) (link here) reached 41.9 million subscribers (5%

growth Y-o-Y, 41% market share), Mobinil (AmCham Member) (link here)

registered 34.7 million (2.7% growth Y-o-Y, 34.8% market share), and UAE-

based Etisalat’s (link here) subsidiary Etisalat Misr (AmCham Member)

(link here) recorded 23.04 million (-0.9% growth Y-o-Y, 23.1% market share).

In addition, aggregate ADSL subscribers reached 2.63 million by year-end 2013,

adding 390,000 users throughout the year.

Contents

Real Estate

HDB TO PUMP USD57 MILLION IN SMALL REAL ESTATE PROJECTS

Source: Zawya, February 20, 2014

Housing and Development Bank (AmCham Member) (link here) plans to

pump EGP400 million (USD57.42 million) into small- and medium-sized projects

in Egypt in the next three years, in addition to extending low-interest loans for

real estate projects. HDB was playing a large role in providing financing for real

estate projects in Egypt, with the real estate sector accounting for 40% of the

bank's total loan portfolio last year at around EGP2 billion. "The Central Bank of

Egypt (link here), together with other Egyptian banks, is studying a new

initiative to support real estate financing and medium- and low-cost housing




http://www.coke.eg/pages/landing/index.html

http://www.vodafone.com.eg/vodafoneportalWeb/en/myWorld_mainPage

http://www.telecomegypt.com.eg/English/

https://www.mobinil.com/en/

http://www.etisalat.ae/en/index.jsp

http://etisalat.com.eg/etisalat/Etisalat_Portal_Ar/home_ar/home_ar.htm

http://www.hdb-egy.com/

http://www.cbe.org.eg/English/

programs, in addition to resolving the problem of registering property for projects

being developed under the New Urban Communities Authority (link here)."

Property linked to these developments cannot be registered until the project is

completed and paid up in full.

Contents

Tourism

BOMB ATTACK KILLS FOUR ON TOURIST BUS NEAR ISRAELI BORDER

Source: Bloomberg, February 17, 2014

A bomb struck a bus packed with South Korean tourists near Egypt’s border with

Israel, killing four people, signaling that militants may be expanding a deadly

campaign against security forces to the vital tourism industry. Three Koreans and

the Egyptian driver were killed in the blast in the Sinai Peninsula town of Taba,

and 13 people were wounded, according to government statements. The Interior

Ministry said the bus had been in a parking lot after returning from St.

Catherine’s Monastery, a popular tourist destination. It was not clear where the

bomb had been planted, and no one claimed responsibility. The Tourism Ministry

condemned the “lowly and despicable act,” spokeswoman Rasha El-Azzaizi said.

Contents




http://www.nuca.gov.eg/en/Home.aspx�

Legislative Update

Law Status

On Amending Some Provisions Of Law 53/1973 Concerning The State General Budget (Law 72/2013)

Passed June 2013

Promulgating the Law on the Islamic Financial Instrument (The Sukuk Law)

Passed May 2013

Amending Some Provisions of the Income Tax Law Promulgated by Law 91 of the year 2005 (Law 11/2013)

Passed May 2013

Amending Some Provisions Of The Stamp Duty Law Promulgated By Law No. 111 Of The Year 1980 As Amended By Decree-Law No. 104 Of The Year 2012

Passed April 2013

Exempting the Establishments and the Insured from the Additional Amounts due thereon to the National Organization for Social Insurance Passed February 2013

Constitutional Proclamation Passed November 2012

Special Raise To State Civil Servants (Law 82/2012)

Passed July 2012

Increasing Pensions (Law 81/2012) Passed July 2012

Social Insurance and Pensions (Law 135/2010)

Passed June 2010

Regulation of Nuclear and Radiation Activities (Law 7/2010)

Passed

Organizing Customs Exemptions (Law 186/1986)

Executive Regulations amended by Decree 416/2010 (June 2010)

Licensing the Operation of Petroleum Refineries under the Free Zones System (Law 133/2010)

Passed June 2010

Regulation of Private Sector Participation in Infrastructure and Public Utilities Projects (Law 67/2010)

Passed May 2010

Bids and Tenders (Law 89/1998) Executive Regulations amended by Decree 347/2010 (May 2010)

Building (Law 119/2008) Executive Regulations amended by Decree 200/2010 (April 2010)

Capital Market (Law 95/1992) Executive Regulations amended by Decree 64/2010 (April 2010)

Agriculture (Law 53/1966) Regulations for export/import amended by Decree 1323/2009

Economic Courts (Law 119/2008) Executive Regulations amended by Decree 144/2009 (April 2009)

Environment (Law 4/1994) Amended by Law 9/ 2009

Control on Non Banking Financial Markets and Instruments (Law 10/2009)

Passed March 2009

Supervision and Control of Insurance (Law 10/1981)

Executive Regulations amended by Decree 6/2009 (January 2009)

Property Tax (Law 196/2008) Passed – June 2008

Consumer Protection (Law 67/2006) Passed-Effective August 2006







Anti-trust and Competition (Law 3/2005) Passed (January 2005) + Executive regulations passed August 2005

Export-Import (Law 118/1975) Executive Regulations amended by Decree 770/2005 (August 2005)

Unified Income Tax (Law 91/2005) Passed (June 2005)+ Executive Regulations in effect as of July 2005

Investment Incentives and Guarantees (Law 8/1997)

Amended by Law 94/2005

E-signature (Law 15/2004) Passed (April 2004)

Customs (Law 66/1963) Amended by Law 14/ 2004

Real Estate Mortgage (Law 148/2001) Passed-Effective August 2003

Unified Banking and Central Bank (Law 88/2003)

Passed- Effective July 2003

Money Laundering (Law 80/2002) Passed-New amendments added in June 2003

Labor (Law 12/2003) Passed

Telecommunication Regulation (Law 10/2003)

Passed

Export Promotion (Law 155/2002) Passed + Executive Regulations under discussion law in effect as of October 2002

Special Economic Zones (Law 83/2002) Passed + Executive Regulations in effect as of September 2002

Intellectual Property Rights (IPR) (Law 82/2002)

Passed + Executive Regulations in effect as of June 2002

Chambers of Commerce (Law 6/2002) Passed

General Sales Tax (Law 11/1991) Application of 2nd and 3rd phase of Sales Tax by Law 17/2001

Decree Description

Decree No. 23 for the year 2014 New (January 2014)

On Determining the Rules and Conditions of Certain Provisions of Presidential Decree No. 184/2013 Concerning the Issuance of Custom Tariffs

Decree No. 209 of the Year 2009 Amended by Decree No. 63 of the Year 2014 New (February 2014)

Concerning Executive Regulations Promulgated by the Minister of Tourism

Prime Minister Decree No. 1478 for the Year 2013 New (December 2013)

On Utilization of Black Sands

The Ministry of Tourism Decree No. 777 for the year 2013 New (December 2013)

On Regulating the Tourist companies

Prime Minister Decree No. 22 for the year 2014 New (January 2014)

On Overall Monthly Wages and Incomes of Civil Servants

Decree-Law of the President of the Arab Republic of Egypt No. 160 of the Year 2013 (December 2013) New

On Amending Some Provisions of the Traffic Law Promulgated by Law No. 66 of the Year 1973




Ministerial Decree No. 448/2007 Amended by Decree No. 626/2013 (September 2013)

On Licensing the Activity or Recording in the Industrial Register Regarding the Lands were Allocated in the Industrial Zones

Prime Minister Decree No. 1138/2013 Amending Prime Minister Decree No. 144/2013 (October 2013)

On establishing a Ministerial Committee for the Project of the Development of the Suez Canal Region

Decree No. 685/ 2013 by Ministry of Trade and Industry (October 2013)

On Levying an Export Duty on the Exports of Nitrogenous Fertilizers

Ministerial Decree No. 491/2013 (October 2013)

On Amending Certain Provisions of the Executive Regulations of the Customs Law as Issued by the Ministerial Decree No. 10/2006

Prime Minister Decree No. 714/2013 (August 2013)

Amending Certain Provisions of the Prime Minister Decree No. 1115/2012 on the Formation of the Ministerial Group for the Settlement of Investment Related Disputes

Prime Minister Decree No. 1067/2012 Amended as Per Nos. 1299/2013 and 998/2013 (November 2013)

On Establishing a Committee Entrusted with Examining the Contracts Concluded Between Investors and State-Affiliate Entities

Decree 422/2013 (August 2013) Concerning the Rules Governing the

Payment of the Monthly Special Raise Determined According to Law no. 78 of 2013

Presidential Decree-Law 79/2013 (August 2013)

On Cancelling Law no. 135 of 2012, Promulgating Social Insurance and Pensions

Law, and Amending Certain Provisions of Social Insurance Law

Presidential Decree-Law 78/2013 (August 2013)

On Granting a Special Raise to the State Civil Servants

Decree 468/2013 (August 2013) On Amending Certain Provisions of Ministerial Decree no. 770 of 2005

Decree 465/2013 (July 2013) In Respect of Cancelling the Export Duty

Imposed on Some Feedstuff Items

Decree 223/2013 (June 2013)

On Regulating the Packing and Trading Activities Related to the Pasta, Vegetable

Oils and Margarine

Decree 371/2013 (June 2013)

On the commitment to Produce and Import According to the Egyptian Standard

Specifications

Decree 333/2013 (June 2013) On Amending the Executive Regulation of

the Income Tax Law

Decree 335/2013 (June 2013) On Amending Some Provisions of the

Executive Regulations of the Stamp Law

CBE Resolution 1010 (June 2013) On the Limitations of Exercising

Bancassurance by Banks

Annex (1) of Decree 310/2013 (May 2013) Provisions of Decree 301/2013 Of the Tax

Apply

Decree 310/2013 (May 2013)

On the Determination of Percentages, Commodities and Rentals on Which the

System of Addition for Account of the Tax Shall Apply




Decree 204/2013 (April 2013) On Amending Some Provisions of the

Executive Regulations of the Customs Law

Decree 8/2013 (April 2013)

Amending Certain Provisions Of The Central Bank, the Banking Sector and Money Law

Promulgated by Law No. 88 of the Year 2003

Decree 133/2013 (April 2013)

On the Amendment of Some Provisions of the Executive Regulations Implementing

the Industrial Register Law

Presidential Decree 184/2013 (March 2013) On Issuing Harmonized Customs Tariff

Decree 241/2013 (March 2013) On the Compulsory Pricing and

Determination of Energy Materials

Decree 123/2013 (March 2013) On Imposing An Export Duty on Certain

Kinds of Scrap and Lead Materials

Decree 170/2013 (March 2013)

Applications for Establishing Tourism Companies Will Not Be Accepted for One

Year

Decree 144/2013 (February 2013) Amending the Formation of the Cabinet

Decree 110/2013 (February 2013) On Pricing and Selling of Petroleum, Natural

Gas, and Mazut

Decree 61/2013 (February 2013) Amending Certain Provisions of The Statute Of Rules Enforcing The Provisions Of Law

On Import And Export

Decree 44/2013 (February 2013) On continuing Imposing an Export Duty on

Blocks of Crude Marble and Granite

Presidential Decree 80/2013 (February 2013)

Amending Decree no. 176/2005 on Increasing Pensions

Presidential Decree-Law 160/2012 (December 2012)

Amending Some Provisions of Law No. 88 Of The Year 2003

Decree 993/2012 (December 2012) On the Termination of Ministerial Decree No.

430 of the year 2012

Decree 290/2012 (December 2012)

On The Identification Of The Rules And Limitations Of Acquisition/Usufruct Right In

Sinai Peninsula

Decree 961/2012 (December 2012) Amending Import and Export Decree 770 of

the year 2005

Presidential Decree 93/2012 (November 2012)

Amendment Of Some Provisions Of Law No. 155 Of The Year 2007 on Education

Decree 11/2012 (November 2012)

On the Identification of the Delay Fine and Service Fees of Re-Entry and Modification of

Data at the Ports

Decree 859/2012 (October 2012)

Amending Some Provisions Of The Executive Regulations Implementing The

Provisions Of Import And Export Law


Amending Some Provisions, Rules And Procedures Of The Human Drugs

Registration


Amending Certain Provisions of the Protection of the River Nile and Waterways

Against Pollution

Decree 636/2012 (October 2012) Amending decree no. 121

Decree 767/2012 (September 2012) On the Export of Rice




Decree 736/2012 (September 2012)

Amending Certain Provisions of The Statute Of The Rules Enforcing The Provisions Of

Law On Import And Export

Decree 718/2012 (September 2012) On Ceasing the Application of Ministerial

Decree No. 430 of the Year 2012

Decree 693/2012 (September 2012)

On Terminating the Investigation Procedures Regarding the Great Increase in Woven and

Mixed Cotton Fabrics Imports

Decree 709/2012 (September 2012) On the Compliance with the Special

Egyptian Standard Specifications

Decree 696/2012 (September 2012) On Imposing an Export Duty on Certain

Kinds of Scrap and Materials

Decree 694/2012 (September 2012) On Terminating Applying the Provisions of

Ministerial Decree No. 902 of the Year 2001

Decree 533/2012 (August 2012) On the Regulation of Tourism Companies

Decree 85/2012 (August 2012) On Amending the Press Law No. 96 of the

Year 1996.

Prime Minister Decree 915/2012 (August 2012)

On the Issuance of the Statute of the National Authority for the Development of

Sinai Peninsula

Decree 622/2012 (August 2012) Regarding the Practicing of the

Pharmaceutical Profession

Decree 498/2012 (August 2012) On the Procedures of Registration and

Control of Locally Manufactured Cosmetics

Decree 82/2012 (August 2012)

Granting a Special Raise of 15% to State and Private Servants

Decree 589/2012 (July 2012) Imposing Final Precautionary Measures On

Cotton and Mixed Yarn Imports

Decree 568/2012 (July 2012) On Establishing the National Council for

Industry Quality Assurance

Decree 541/2012 (July 2012) On the Abidance by the Egyptian Standard

Specifications During Production

Decree 102/2012 (July 2012) Provisions Of The Social Insurance Law

Decree 293/2012 (July 2012) Regarding Banderoles and Sticking

Procedures

Decree 483/2012 (June 2012) Imposing An Export Duty On Certain Kinds

Of Scrap And Materials

Decree 430/2012 (June 2012) On Imposing Temporary Precautionary

Measures on Imports of Polypropylene Items

Decree 301/2012 (May 2012) Amending Provisions of Organizing Tourist

Companies Law

Decree 572/2012 (May 2012)

Amending Provisions of Executive Regulations Implementing Capital Market

Law

Decree 384/2012 (May 2012) Amending Provisions of Import/Export Law

Decree 384/2012 (May 2012) Amending Provisions of Import/Export Law

Prime Minister Decree 463/2012 (May 2012) Regarding Electronic Publication of Government Tenders and Auctions

Prime Minister Decree 421/2012 (April 2012)

Amending the Executive Regulations Implementing Cantral Depository and

Registry of Securities

Decree 142/2012 (April 2012) Loading/Unloading Rates and Compliance of

Companies and Shipping Agencies




Prime Minister Decree 322/2011 (April 2012) Provisions of Maximum Limit of Incomes and Minimum Limit

Decree 219/2012 (March 2012) Amending Provisions of Import/Export Law

Prime Minister Decree 297/2012 (March 2012)

Determining Certain Customs Duties Exemptions

Decree 151/2012 (March 2012) Establishment of Tourism Companies

Ministerial Decree 121/2012 (March 2012) To Install Tracking Devices in Tourism Vehicles

Ministerial Decree 116/2012 (February 2012) Temporary Precautionary Measures on Woven And Mixed Cotton Fabrics Imports

Prime Minister Decree 165/2012 (February 2012)

Determining Certain Customs Duties Exemptions regarding Sugar Imports

Ministerial Decree 54/2012 (February 2012) Tax Accounting Rules and Principles for Small Enterprises and Procedures of Tax Collection on their Profits

Supreme Council of the Armed Forces Decree-Law 14/2012 (January 2012)

The Integrated Development of the Sinai Peninsula

Supreme Council of the Armed Forces Decree-Law 11/2012 (January 2012)

Establishing Incentives for Settlement of Taxes

Prime Minister Decree 32/2012 (January 2012)

Formation of the Ministerial Group for Settlement of Investment-related Disputes

Prime Minister Decree 1009/2011 (August 2011)

Forming a Committee for Examining the Contracts That Have Been Signed Between Investors and State-Affiliate Entities

Supreme Council of the Armed Forces Decree 156/2011 (July 2011)

The Regulation of Public Business Sector Ministry

Ministerial Decree 300/2011 (June 2011) Restaurants and Tourist Shops

Supreme Council of the Armed Forces Decree- Law 51/2011 (June 2011)

Pegging the State General Budget for the Fiscal year 2011/2012 and Amending some provisions of the Income Tax Law

Supreme Council of the Armed Forces Decree- Law 49/2011 (June 2011)

Amending Certain provisions of the General Sales Tax Law 11/1991

Decree 278/2011 (June 2011) Imposing an Export Duty on Blocks of Crude Marble and Granite

Decree 277/2011 (June 2011) Imposing an Export Duty on Certain Kinds of Scrap and Materials

Ministerial Decree 266/2011 (June 2011) Obligation to Produce and to Trade according to the Standard Specifications

Decree 171/2011 (May 2011) Imposing Power Consumption Labels to be Fixed on Home Appliances and Electric Lamps

Prime Minister Decree 461/2011 (April 2011) Formation of the Ministerial Group for Settlement of Investment-related Disputes

Ministerial Decree 90/2011 amending certain articles of Decree 292/2010 (April 2011)

Conditions and Procedures of Granting Work Licenses to Foreigners

Prime Minister Decrees 526-530/2011 (April 2011)

Amending Labor Law 12/2003

Ministerial Decree 84/2011 (March 2011) Temporarily Stop Acceptance of Applications for Establishing Tourism Companies

Prime Minister Decree 458/2011 (March 2011)

Conducting Radioactive Examination on Certain Products

Egyptian Financial Supervisory Authority (EFSA) Decision 1/2011 (March 2011)

Regulations of Calculating the Maximum Ratio of Liabilities to Equities for Financial Leasing Companies




Prime Minister Decree 345/2011(March 2011)

Amending Article 295 of the Executive Regulations Implementing Capital Market Law 95/1992

Prime Minister Decree 355/2011 amending certain Provisions of Prime Minister Decree 1764/2004 (March 2011)

Establishing an Insurance Fund for Securities Dealers against Non-commercial Financial Risks arising from the Activities of Companies Operating in Securities field

Supreme Council of the Armed Forces Decree-Law 8/2011 (March 2011)

Paying the Due Income Tax in Installments regarding the year ended 31/12/2010

Ministry of Finance General Rules and Instructions 1/2011

Tax Inspection Rules for Small Enterprises (Class A), Legal Persons pursuant to Provisions of Law 91/2005 and its Executive Regulations

Ministerial Decree 82/2011(February 20, 2011)

Canceling Annex No. 1 of the year 2010 to the Decree of the Minister of Finance 363/2009

Supreme Council of the Armed Forces Decree-Law 2/2011 (February 16, 2011)

Granting a special raise to the state several servants

Ministerial Decree 290/2010 (December 2010)

Amending provisions of law 125/2010 on the Degree of Waters' Rights Privilege

Ministerial Decree 691/2010 amending article 1 of Decree 296/2005 (October 2010)

Rules Governing Payment of the General Sales Tax on Machinery and Equipment

Decree 549/2010 (August 2010) Amending Executive Regulations of the law Regulating Tenders and Bids

Decree 682/2010 (July 2010) Modifying the Rates of Charge of Services Carried out By the Egyptian Authority for Export and Import Control

Decree 2130/2010 (July 2010) Decree 1953/2010 (July 2010)

Prices of Energy

Decree 627/2010 (July 2010) Decree 305/2010 (April 2010)

Amending Certain Provisions of Law on Import and Export

Ministerial Decree 348/2010 as amended by Decree 403/2010 (May 2010)

The Conformity Assessment Entities in Egypt

Ministerial Decree 415/2010 (May 2010) Entities and Companies Granting or Obtaining the ISO Certificates

Ministerial Decree 366/2010 amending Decree 257/2010 (April 2010)

Conditions concerning the Release of the Chinese Commodities

Ministerial Decree 135/2010 (February 2010) Establishing the National Council for Industry Quality Assurance

Ministerial Decree 32/2010 (February 2010) Enforcing Production in Compliance with the Standard Specifications

Decree 424/2009 amending Decree 38/1999 (November 2009)

Provisions Regarding the Obligations of the Pharmaceutical Companies

Ministerial Decree 170/2009 (August 2009) Establishment of an Investor Dispute Settlement Center at the General Authority for Investment and Free Zones

Presidential Decree 192/2009 (June 2009) Issuing the Statute of the General Authority for Financial Control

Presidential Decree 191/2009 (June 2009) Provisions Regulating the Management of the Egyptian Exchange and its Financial Affairs

Contents

BSAC Publications

Egypt Economic Profile (April 2013)

An annual country report on Egypt's recent macroeconomic performance as well

as coverage of Egypt's most important commodity and service sectors.

Banking Sector Developments in Egypt (March 2013)

An overview of Egypt ’s post revolution banking system with focus on emerging

trends including, retail banking, Islamic finance, project and SME finance and ICT

applications.

MENA-US Trade and Investment (January 2013)

The report provides a briefing on the MENA macroeconomic and business

environment with focus on recent trends in MENA-US trade and investment

relations.

Healthcare and Pharmaceuticals in Egypt (September 2012)

A comprehensive overview of Egypt's healthcare sector and pharmaceuticals

industry with focus on market trends, investments, trade in pharmaceuticals and

growth areas.

MENA-US Trade and Investment (May 2012)



relations.

Egypt Economic Profile (April 2012)

An annual country report on Egypt's recent macroeconomic performance as well as coverage of Egypt's most important commodity and service sectors.

The Automotive Industry in Egypt (February 2011)

A comprehensive overview of Egypt's automotive industry with focus on recent

market trends in the passenger car, commercial vehicles and automotive

components segments.

MENA-US Trade and Investment Report (May 2010)



relations.

Egypt Economic Profile (March 2010)

An annual country report on Egypt's recent macroeconomic performance as well

as coverage of Egypt’s most important commodity and service sectors.

Egypt-U.S. Guide to Trade: Exporting to the U.S. (October 2009)

An extensive publication produced to familiarize businesses with import

procedures in the U.S. and export procedures in Egypt. Focus is placed on

Egypt’s leading non-petroleum export sectors, namely textiles and clothing,

processed food and cereals, iron and steel and furniture.

Petroleum Sector Developments in Egypt (March 2009)

A comprehensive overview of Egypt's petroleum sector with focus on recent

developments in the local oil, natural gas, and petrochemicals industries.

Banking Sector Developments In Egypt (September 2008)

This study examines the Egyptian Banking System in its new state of reform with

focus on major market players and recent developments.







Tourism Sector Developments In Egypt (March 2008)

An overview of the tourism sector in Egypt with focus on the latest market

developments and investment opportunities.

Information and Communications Technology Developments in Egypt

(May 2007)

An overview of ICT sector development in Egypt with focus on the challenges and

opportunities facing the sector in the next several years.

Pharmaceutical Industry Developments in Egypt (December 2006)

An overview of the pharmaceutical sector in Egypt and recent challenges to

higher sector growth and catalysts for sustainable development.

The Textile and Clothing Industry in Egypt (August 2004)

A comprehensive study of the textiles and clothing industry, examining future

competitiveness and anticipated changes in the global market.

The Construction Sector in Egypt (September 2003)

A comprehensive study of the construction and building materials sectors in

Egypt, with focus on factors affecting development and competitiveness.

The Insurance Sector in Egypt (August 2001)

An update on the Egyptian Insurance sector with focus on private sector

developments.

For details on how to order, Please Click Here

Contents

http://www.amcham.org.eg/resources_publications/publications/business_studies/

Important links

Egypt Business/Economic Links

Cairo and Alexandria Stock Exchanges

Egyptian Government On-line

Egypt State Information Service

General Authority for Investment and Free Zones (GAFI)

IDSC: Main Economic Indicators

Information Decision and Support Center

Ministry of Trade and Industry

Ministry of Investment

The US Embassy in Egypt

U.S. Links

American Association of Exporters and Importers

International Trade Administration

United States Customs & Border Protection

US Department of Commerce- Bureau of Economic Analysis

US Department of State-International Information Programs-Middle East

and North Africa

Contents




http://www.egyptse.com/English/homepage.aspx



http://www.sis.gov.eg/En/Default.aspx



http://idsc.iza.org/metadata/



http://www.mfti.gov.eg/english/index.htm



http://cairo.usembassy.gov/

http://cairo.usembassy.gov/

http://www.aaei.org/



http://www.cbp.gov/

http://www.cbp.gov/

http://www.cbp.gov/

http://www.america.gov/



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