Nihal Mounir

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Development of standards, quality systems, legislative environment most prominent demands to activate TIFAs

The governments of Egypt and the US have looked into preparing the legislative environment and developing the quality and specifications systems in order to achieve the maximum utilisation of the bilateral trade agreement between the two countries. A source from the Egyptian government said that both the American and Egyptian governments have agreed to pay …

Nihal Mounir

2,000 industrial licenses issued since announcing bylaws

Minister of Trade and Industry Tarek Kabil said that his ministry, represented by the Industrial Development Authority (IDA), granted more than 2,000 industrial licenses during the three months that followed the passage of the Industrial Licensing bylaws in August. In a brief statement to Daily News Egypt, Kabil said that the bylaws for industrial licensing …

Nihal Mounir

US embassy in Cairo received 800,000 diversity visa applications last year

The number of Egyptians applying for a diversity visa increased last year to 800,000. Consul-General at the US embassy in Cairo, Lisa Vickers, said that Egypt ranks second globally only following Cameroon in terms of number of applicants. She said that 800,000 Egyptians applied for the visa, of which 3,400 were initially selected. The US …

Nihal Mounir

Egypt’s budget deficit drops 1.6% in FY 2016/17

“Egypt`s budget deficit dropped to 10.9% of GDP instead of 12.5% during the past fiscal year (FY), which ended in 30 June, and the annual economic growth rate increased to 4.1%, which is above the expected rate,” said Alaa Youssef, the presidential spokesperson. Youssef said that the real GDP growth for different sectors rose this …

Nihal Mounir

Government must finalise new bankruptcy law to attract entrepreneurs: LACI

CEO of Los Angeles Cleantech Incubator (LACI) Fred H. Walti determined three key factors to attracting American startups to Egypt. He said that cooperation between the government and private sector is considered very important for economic revival and attracting more entrepreneurial companies to invest in Egypt. During the roundtable meeting held by the US Embassy …

Nihal Mounir