saasaMay 15, 2004 - AmChamIndustry TAQA SIGNS MOU WITH HALIBURTON TO ESTABLISH SPECIALISED CHEMICALS...

June 1, 2014

ECONOMY ...................................................................... 5

GAP NARROWS BETWEEN EGP OFFICIAL AND BLACK MARKET RATES 5

Egypt's Central Bank allowed the EGP to weaken further at a USD sale on Wednesday after the currency slid to an all-time low in the official market last week, .......................................5

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

EGYPT WILL EXEMPT BONUS SHARES FROM A NEW 10 PERCENT CAPITAL GAINS TAX 5

Egypt will exempt bonus shares from a new 10 percent capital gains tax on profits made on the stock market,. ..........................................................................................5

FAISAL ISLAMIC BANK TAKES PART IN CBE’S MORTGAGE FUNDING INITIATIVE 5

Faisal Islamic Bank of Egypt decided to take part in the Central Bank of Egypt’s mortgage finance initiative.. ......................................................................................5

INDUSTRY ...................................................................... 6

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TAQA SIGNS MOU WITH HALIBURTON TO ESTABLISH SPECIALISED CHEMICALS COMPLEX 6

Industrilaisation and Energy Services Company (Taqa) has signed a memorandum of understanding (MoU) with Haliburton to build,.......................................................6

ES

CSW

GYPT GOVERNMENT PLANNING TO INCREASE THE UBSIDISED PRICES OF UREA TO EGP1, 800/TONNE 6

The government is planning to increase the subsidized price of urea in the local market, purchased from local producers,. ......................................................................6

FOOD PRODUCER EDITA MULLING USD300 MILLION IPO 6 Edita Food Industries, one of Egypt’s largest snack food companies, is said to be “weighing [an] IPO valued at USD300 million”. ......................................................................6

MINISTRY OF AGRICULTURE MULLS ANTI-DUMPING FEES FOR YELLOW CORN 7

The Ministry of Agriculture is currently considering the application of yellow corn anti-dumping fees to encourage local production.. ...................................................................7

INTERNATIONAL RELATIONS............................................ 7

UAE SAYS NO PLANS FOR MORE FINANCIAL AID TO EGYPT FOR NOW 7

The United Arab Emirates' finance minister said that the country, a major supporter of Egypt since the army removed former president Mohamed Mursi from power, had no plan for additional financial aid to Egypt for now.. .............................................................7

AUTOMOTIVE.................................................................. 7

APRIL PASSENGER CAR SALES CONTINUE UPTREND 7 Passenger car (PC) sales for the month of April increased to c 15,200 vehicles (+18% Y-o-Y, +16% versus our estimate) according to the Automotive Marketing Information Council (AMIC).. ...............................................................................................7

GOVERNMENT BANS MOTORCYCLES AND TUK-TUK IMPORTS 8 Egypt’s Ministry of Trade and Foreign Industry has banned the imports of motorcycles and three-wheelers (tuk-tuks). ..............................................................................8

PROJECTS ....................................................................... 8

EGYPT AWARD DEALS TO BUILD TWO WHEAT SILOS 8 The UAE and Egypt have awarded contracts to build two wheat silos in northern Egypt as part of an assistance package financed by the UAE, and more deals are expected soon, said a UAE state minister. ..........................................................................................8

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IT & COMMUNICATIONS ................................................... 8

MOBINIL CONSIDERING CAPITAL INCREASE, ASSET SALES TO REDUCE DEBT 8

Mobinil is considering four options to reduce debt, quoted from the company’s CEO, .............8

NTRA SETS WORKING GROUPS FOR NATIONAL ROAMING PRICES 8

The National Telecommunications Regulatory Authority (NTRA) has created two working groups with the aim of setting prices for local roaming for both mobile and fixed services in cooperation with the existing telecom operators, ......................................................8

TE DATA MAINTAINS INTERNET MARKET LEADERSHIP WITH 63% OF SUBSCRIBER MARKET 9

Telecom Egypt's (TE) TE Data has maintained its internet market leadership at the end of 1Q2014 with 1.667 million subscribers (63% market share, up 5.4% Q-o-Q), ........................9

EGYPT TO ISSUE 4G LICENCES IN FY2014/15 9 The Egyptian government plans to issue 4G mobile licenses in FY2014/2015 to help reduce its budget deficit, ..........................................................................................9

ENERGY ......................................................................... 9

SIDPEC ANNOUNCES FIVE-DAY SHUTDOWN IN JUNE ON MAINTENANCE WORKS AT GASCO’S GAS SUPPLY COMPLEX 9

Sidi Kerir Petrochemical Company (SIDPEC) has announced that its facility will be shut down fully for a period of five days starting 1 June due to the Egyptian Natural Gas Holding Company (GASCO) ...................................................................................9

REAL ESTATE ................................................................ 10

EGYPTIAN ARAB LAND BANK EYES REGULATOR TALKS TO LAUNCH ITS FIRST REAL ESTATE FUND 10

Egyptian Arab Land Bank (EALB is seeking to hold talks with the Egyptian General Supervisory Authority (EFSA) and the Central bank of Egypt (CBE) in order to launch the first real estate fund within the upcoming period. ........................................................ 10

NUCA REACHES INITIAL SETTLEMENT WITH PHD OVER PALM HILLS KATAMEYA 10

The New Urban Communities Authority (NUCA) has reached an initial settlement with Palm Hills Developments (PHD) over the latter’s Palm Hills Katameya land, ............................ 10

TMG AWAITS NUCA’S APPROVAL OVER REDESIGNING PART OF REHAB EXTENSION 10


Talaat Moustafa Group (TMG) is awaiting the New Urban Communities Authority’s (NUCA) approval.............................................................................................. 10

LEGISLATIVE UPDATE .................................................... 11

BSAC PUBLICATIONS .................................................. 19

IMPORTANT LINKS...................................................... 21


Economy

GAP NARROWS BETWEEN EGP OFFICIAL AND BLACK MARKET RATES Source: Reuters, May 22, 2014 Egypt's Central Bank (link here) allowed the EGP to weaken further at a USD sale on Wednesday after the currency slid to an all-time low in the official market last week, narrowing the gap between official and black market rates. The central bank said it sold USD37.6 million at a cut-off price of EGP7.1150, weaker than the EGP7.1068 at its last sale.

Contents
Finance
EGYPT WILL EXEMPT BONUS SHARES FROM A NEW 10 PERCENT CAPITAL GAINS TAX

Source: Reuters, May 30, 2014 Egypt will exempt bonus shares from a new 10 percent capital gains tax on profits made on the stock market, the country's Finance Minister Hany Dimian said. Dimian said Egypt had approved the introduction of the tax, part of the first phase of income tax reforms it expects to bring in 10 billion Egyptian pounds ($1.4 billion). "Distributions of bonus shares will be exempt from the taxes," Dimian said after a meeting with government finance officials. Profits from the stock market are currently tax free, and Dimian has said the new tax will not be retroactive. Egypt is eager to encourage investment but is also trying to find additional revenue sources after more than three years of economic and political turmoil since a popular uprising toppled President Hosni Mubarak in 2011.

Contents

FAISAL ISLAMIC BANK TAKES PART IN CBE’S MORTGAGE FUNDING INITIATIVE

Source: Amwal Al Ghad, May 27, 2014

Faisal Islamic Bank of Egypt (AmCham Member) (link here) decided to

take part in the Central Bank of Egypt’s (link here) mortgage finance initiative. Faisal revealed the launch of its mortgage finance product to finance low-income housing projects as pursuant to the Shariah-compliant finance Murabaha. CBE announced in February that it had allocated EGP10 billion (USD1.44 billion) to finance low-income housing projects, with the aim of boosting the construction and real estate sectors. The money will be sent to banks, in the form of deposits, over a period of 20 years at low interest rates (3.0-4.5%). Low-income citizens who qualify to benefit from the programme will be able to borrow at a yearly interest rate of 7-8%. Contents


Industry
TAQA SIGNS MOU WITH HALIBURTON TO ESTABLISH SPECIALISED CHEMICALS COMPLEX

Source: Argaam, June 1, 2014

Industrilaisation and Energy Services Company (Taqa) (AmCham Member) (link here) has signed a memorandum of understanding (MoU) with

Haliburton (link here) to build, own, and operate a specialised chemicals complex at a capacity of 75,000 tonnes per year (tpy) in Saudi Arabia. The project is expected to serve the upstream oil and gas exploration and production industry, as well as utility producers in the Middle East. The project is expected to commence operations by 2017. The article also added that Taqa is owned by Tabouk Cement (link here) [3090.SE], Yammamah Cement (link here)

[3020.SE], National Industrialisation Company (Tasnee) (link here)

[2060.SE], Southern Cement (link here) [3050.SE], Eastern Cement (link here) [3080.SE], Riyad Bank (link here) [1010.SE], Saudi Advanced

Industries (link here) [2120.SE], Saudi Automotive Company (link here) (SASCO) [4050.SE], Assir Trading Tourism and Manufacturing Company [4080.SE], Al Ahsa for Development (link here) [2140.SE].

Contents

EGYPT GOVERNMENT PLANNING TO INCREASE THE SUBSIDISED PRICES OF UREA TO EGP1, 800/TONNE

Source: Al Borsa, May 22, 2014 The government is planning to increase the subsidized price of urea in the local market, purchased from local producers, to EGP1, 800/tonne compared to EGP1, 500/tonne by June. The decision came following a meeting between local fertilizer producers and the ministries of Agriculture, Trade and Industry, and Petroleum. According to Hamdy Al Assy, head of the services division in the Ministry of Agriculture (link here), the decision is still being studied and no official decree has been issued yet.

Contents

FOOD PRODUCER EDITA MULLING USD300 MILLION IPO

Source: Bloomberg, May 19, 2014 Edita Food Industries (AmCham Member), one of Egypt’s largest snack food companies, is said to be “weighing [an] IPO valued at USD300 million”. No further details are currently available. In June 2013, Actis (link here), a global pan-emerging markets private equity firm, became the second largest stakeholder through a USD102 million acquisition of a 30% stake in Edita. The stake held by the founding Berzi family was reduced by the acquisition from 60% to 42%, while the remaining stake was held by Greece’s Chipita (link here). Products from Edita, which is the largest independent snack food firm in North Africa, include Molto, Todo, Bake Rolz, Twinkies and Hohos.

Contents


MINISTRY OF AGRICULTURE MULLS ANTI-DUMPING FEES FOR YELLOW CORN

Source: Al Borsa, May 21, 2014 The Ministry of Agriculture (link here) is currently considering the application of yellow corn anti-dumping fees to encourage local production. Given that yellow corn is less intensive that rice production, the ministry is mulling the implementation of the fees to support local farming. However, poultry producers are vehemently opposing the move citing that nearly 80% of animal feed is imported (c50% of corn needs are imported). Contents
International Relations
UAE SAYS NO PLANS FOR MORE FINANCIAL AID TO EGYPT FOR NOW Source: Reuters, May 18, 2014 The United Arab Emirates' finance minister said that the country, a major supporter of Egypt since the army removed former president Mohamed Mursi from power, had no plan for additional financial aid to Egypt for now. Sheikh Hamdan bin Rashid al-Maktoum, who is also the deputy ruler of Dubai, said: "We are talking about support (for Egypt)." Asked whether there were plans for more financial aid, he said: "No plans for now." We note that Saudi Arabia and UAE have agreed to secure most of Egypt’s fuel needs until September, sending USD600-700 million worth of fuel supplies every month. The UAE has earlier provided Egypt with USD7 billion support package, including USD3 billion grant for infrastructure projects which are due to be implemented in FY2014/15. This comes in addition to pledges to pump initial investments in mega social housing projects with the Egyptian government. In this respect, we do not see any hints in the statement that Egypt will not be receiving any more aid from GCC countries ex-Qatar.

Contents
Automotive
APRIL PASSENGER CAR SALES CONTINUE UPTREND

Source: Al Borsa, May 28, 2014 Passenger car (PC) sales for the month of April increased to c 15,200 vehicles (+18% Y-o-Y, +16% versus our estimate) according to the Automotive Marketing Information Council (AMIC) (link here). While volume growth was robust, the month showed a 6% contraction versus impressive March volume growth (+49% Y-o-Y). Total PC volumes grew 26% YTD to 58,200 vehicles. During the first four months of the year, GB Auto’s (link here) brands, combined, maintained the leading PC market share of 30%, with nearly c12,200 Hyundai (link here) PCs sold (c21% market share), while Geely (link here) significantly grew its market share to 9%, selling c5,000 PCs.

Contents


GOVERNMENT BANS MOTORCYCLES and TUK-TUK IMPORTS

Source: Bloomberg, May 28, 2014

Egypt’s Ministry of Trade and Foreign Industry (link here) has banned the imports of motorcycles and three-wheelers (tuk-tuks). However, for imports, the government has tightened the procedures, but has not applied a full ban. We await further details from GB Auto (link here) on the news and the potential impact on the company.

Contents
Projects
EGYPT AWARD DEALS TO BUILD TWO WHEAT SILOS Source: Reuters, May 27, 2014 The UAE and Egypt have awarded contracts to build two wheat silos in northern Egypt as part of an assistance package financed by the UAE, and more deals are expected soon, said a UAE state minister. "Contracts to build two wheat silos in Amiriya and Damietta have been awarded and it is expected that contracts to build more silos that are financed by the UAE will be awarded soon," minister Sultan al-Jaber said. The total storage capacity for the 25 silos will be 1.5 million tonnes, added Jaber, the UAE official in charge of aid to Egypt. A source in the minister's office confirmed the comments made to the paper and said any deals are awarded according to an agreement by both the UAE and Egypt. The silos project is part of the UAE's USD4.9 billion aid package announced in October. The government says the silos project should help prevent the loss of 1.6 million tonnes (cUSD0.5 billion) of wheat a year.

Contents
IT & Communications
MOBINIL CONSIDERING CAPITAL INCREASE, ASSET SALES TO REDUCE DEBT

Source: Al Borsa, May 26, 2014

Mobinil (AmCham Member) (link here) is considering four options to reduce debt, quoted from the company’s CEO, Yves Gauthier, as saying. Options include selling unutilized fixed assets and conducting a capital increase, while the last option to raise funds would be a stake sale in the stock market. Mobinil will be in a stable financial position in 2014 and 2015, Gauthier added. Contents

NTRA SETS WORKING GROUPS FOR NATIONAL ROAMING PRICES Source: Al Mal, May 26, 2014 The National Telecommunications Regulatory Authority (NTRA) (link here) has created two working groups with the aim of setting prices for local roaming for both mobile and fixed services in cooperation with the existing telecom operators, said the NTRA’s Executive President, Hisham El Alaily. El Alaily


added that negotiations between all parties are still ongoing with regards to service pricing following the unified license awards. Contents

TE DATA MAINTAINS INTERNET MARKET LEADERSHIP WITH 63% OF SUBSCRIBER MARKET

Source: Al Borsa, May 21, 2014 Telecom Egypt's (TE) (AmCham Member) (link here) TE Data (link here) has maintained its internet market leadership at the end of 1Q2014 with 1.667 million subscribers (63% market share, up 5.4% Q-o-Q), according to data from internet providers and the Ministry of Communications and Information Technology (link here). Mobinil (AmCham Member) (link here) subsidiary LinkdotNet (link here) remained in second place with 605,000 subscribers (23% market share, up 10.5% Q-o-Q), while Vodafone (AmCham Member) (link here) Data witnessed a decline in subscribers to 215,000 (8% market

share, down 12.5% Q-o-Q). Etisalat Group's Etisalat (link here) Internet finished last with 144,000 subscribers (5.5% market share, up 5.2% Q-o-Q).

Contents

EGYPT TO ISSUE 4G LICENCES IN FY2014/15 Source: Argaam, May 18, 2014 The Egyptian government plans to issue 4G mobile licenses in FY2014/2015 to help reduce its budget deficit, according to Finance Minister Hany Kadry, Middle East News Agency (MENA) (link here) reports. The Ministry of

Communications and Information Technology (link here) and National

Telecommunication Regulatory Authority (link here) had announced in April that 4G licenses are due for issuance in FY2016/2017. Contents
Energy
SIDPEC ANNOUNCES FIVE-DAY SHUTDOWN IN JUNE ON MAINTENANCE WORKS AT GASCO’S GAS SUPPLY COMPLEX

Source: Al Mal, May 20, 2014 Sidi Kerir Petrochemical Company (SIDPEC) (link here) has announced that its facility will be shut down fully for a period of five days starting 1 June due to the Egyptian Natural Gas Holding Company (GASCO) (link here) undergoing maintenance works at its western desert gases complex. According to the release, natural gas flows will return gradually until normal levels are reached by 17 June. According to Khaled Saleh, Financial manager at the company, SIDPEC will implement some maintenance activities at its plant during the five-day shutdown. Contents


Real Estate

EGYPTIAN ARAB LAND BANK EYES REGULATOR TALKS TO LAUNCH ITS FIRST REAL ESTATE FUND

Source: Amwal Al Ghad, May 29, 2014

Egyptian Arab Land Bank (EALB) (link here) is seeking to hold talks with the Egyptian General Supervisory Authority (EFSA) and the Central bank of Egypt (CBE) (link here) in order to launch the first real estate fund within the upcoming period. EALB plans to launch the fund before end of current year and expects that the capital of the fund will exceed EGP250 million, Abdel Megeed Mohey El-Din, Vice President noted. Banque Misr (AmCham Member) (link here) and Housing & Development Bank (HDB) (AmCham Member) (link here) are also planning to launch real estate funds, after EFSA had finalised the amendments of the mutual fund regulation that permits companies and banks to establish real estate funds, as a step towards supporting the Egyptian economy in the light of the current situation.

Contents

NUCA REACHES INITIAL SETTLEMENT WITH PHD OVER PALM HILLS KATAMEYA

Source: Al Shorouk, May 18, 2014 The New Urban Communities Authority (NUCA) (link here) has reached an initial settlement with Palm Hills Developments (PHD) (AmCham Member) (link here) over the latter’s Palm Hills Katameya land, citing unnamed sources close to the agreement. The settlement entails PHD paying EGP130 million to NUCA, representing land revaluation. A final settlement has not been signed yet, the same sources added.

Contents

TMG AWAITS NUCA’S APPROVAL OVER REDESIGNING PART OF REHAB EXTENSION

Source: Al Borsa, May 22, 2014 Talaat Moustafa Group (TMG) (link here) is awaiting the New Urban

Communities Authority’s (NUCA) (link here) approval over redesigning part of Rehab extension from standalone units into apartments. Such a decision has been taken following the significant demand for apartments in Rehab extension.

Contents


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

Ministry Of Tourism Decree No. 381 Of The Year 2014 New

Concerning tourist busses and transportation

Presidential Decree No. 35 Of The Year 2014 New

On Applying the Summer Time System

Ministry of Trade, Industry and Investment Decree No. 304 of the Year 2014 New

Concerning maintenance and after-sales service to the products bearing specific global trademarks

Prime Minister Decree No. 831 of the Year 2014 New

On amending certain provisions in the decree No. 259 of the year 2007

Ministry of Investment Decree No. 259 of the Year 2007 New

Concerning the Determination of the Fees of Listing the Securities issued by the Small and Medium Enterprises

Ministry of Agriculture and Land Reclamation Ministerial Decree No. 764 of the Year 2013 New

Concerning The importation from China of animal and poultry products

Ministry Of Trade And Industry Decree No. 393 of the year 2008 New

Concerning service and Maintenance Centres


Decree No. 65 of the year 2014 by the ministry of finance New

Prime Minister Decree No. 377 of the year 2014 New

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


On amending the Presidential Decree No. 284 of the Year 1997 on the Establishment of the General Authority for Investment and Free Zones as amended by Decree No. 316 of the Year 2004


On forming the new Cabinet


On forming a ministerial committee for the settlement of investment disputes


On Amending Some Provisions of the Law on the Regulation of Universities, As Promulgated by Law No. 49 of the year 1972


On forming a committee for the Settlement of Investment Contracts Disputes established by Prime Minister and deputized by the Minister of Justice

Decree No. 122 of the year 2014 by the ministry of trade and Industry New

On Prolonging the Enforcement of the Provisions of Ministerial Decree No. 195 of the Year 2008

Decree No. 120 of the year 2014 by the ministry of tourism New

Concerning the executive regulations promulgated by the Minister of Tourism Decree No. 209 of the year 2009

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) The report provides a briefing on the MENA macroeconomic and business environment with focus on recent trends in MENA-US trade and investment 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) The report provides a briefing on the MENA macroeconomic and business environment with focus on recent trends in MENA-US trade and investment 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


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


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