The Draft Investment Law Committee "Bring back the investors"
Amid economic challenges, recent government initiatives have targeted improving the investment climate, most notable the proposed investment law. On Nov. 10, the legal affairs committee hosted a meeting to address the draft legislation, featuring Mohamed Khodeir, chairman of the General Authority for Investment and Free Zones. Khodeir discussed the necessity of addressing Egypt's monetary and fiscal challenges, its investment policies, and legislative, administrative and regulatory reforms. The supreme council for investments recently released a set of incentives and measures (including fostering precise tax incentives) that are currently being adopted by all the relevant constituencies. These packages are necessary to open new investment frontiers, he said. The new investment law is expected to be passed before the end of the year. GAFI also has a detailed strategic transformation plan that aims to make processes more investor-friendly along with a full automation plan to be completed in 2017. Khodeir asserted that the government now operates on a daily milestone basis to enhance the investment climate while supporting the private sector in taking the lead on these investment projects. He addressed common questions, such as when bureaucratic challenges will be resolved. He said that steps have been adopted at GAFI with advisory support that is aiding them in better serving their clients and better understanding investors' needs. They are shifting GAFI employees' Key Performance Indicators to focus on these issues. Actions are being taken across all levels to improve harmonization among relevant government bodies.
How to IPO Your Small or Medium-Sized Business on the NILEX "The NILEX grows up"
Small and medium-sized enterprises are said to be the engine of growth for developing economies, but without the right capital, that engine is bound to stall. To highlight opportunities for small businesses, AmCham's Entrepreneurship and Innovation Committee hosted a May 12 panel discussion on ﾓHow to IPO Your Small or Medium-Sized Business on the NILEX, featuring Mohamed Omran, chairman of the Egyptian Stock Exchange; Aly El Tahri, a co-founder and managing partner at Catalyst Partners; Ahmed Bahaa, chief executive officer of MB Engineering; and Ahmed Marwan, chairman of Sigma Capital. The session was moderated by Hani Sarie El Din, the founder and a managing partner at Sarie-Eldin & Partners. The NILEX, which is the stock marketﾒs small-cap trading index, helps address the difficulties these businesses often have accessing enough capital to sustain and attract foreign and domestic investments and grow their operations. It also aids in encouraging entrepreneurship by providing an exit strategy for venture capital funds. Bahaa spoke about his company, MB Engineering, which successfully went public on the NILEX, while El Tahry and Marwan addressed how investor perceptions of the exchange are gradually changing. Marwan pointed to the MB Engineering IPO as an indication of this, noting that it drew large investments from Upper Egypt and the Delta and is a sign of growing confidence in the NILEX. Still, it faces challenges that have slowed the bourseﾒs momentum. Among the factors listed by Omran are that advisory and financial bodies are not very involved in guiding SMEs during the pre-listing phase. Investors are also not very aware of the many benefits of investing in the NILEX, which include the ability to phase out of an investment while retaining rights of protection. Sarie El Din added that the recent creation of a parliamentary subcommittee could help enhance the legislative framework for SMEs and create a better climate of operation on the NILEX.
"3rd Annual PPP Investment Summit Egypt 2015" Under the auspices of the Prime Minister of Egypt H.E. Eng. Ibrahim Mahlab
Dr. Hani Sarie-Eldin, Founder & Chairman, Sarie-Eldin & Partners Talked about:
Exclusive update on the Suez Canal Corridor Area Project
Exploring the state and future of Egypt's most notable initiative in order to get involved in the project's expected $12.5 billion annual revenue
Examining the construction process in order to understand how the venture was completed to adhere to President Sisi's one year deadline
Establishing the impact "The Great Egyptian Dream" will have on Egyptian economics and geopolitics
-CONTRACTUAL CHALLENGES PANEL: Addressing the legal and contracting processes behind successful PPPs
Examining the concept of contract management to promote entity cohesion and collaboration on PPPs Revealing the importance of addressing the conflict of interest among parties in order to finalize a balanced, just contract
Establishing the termination clauses, compensation provisions, roles of the sovereign entities, and direct agreements of PPP contracts in order to familiarize oneself with PPP logistics"
