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| ROUND UP: The month at a glance |
Auto fumes chief problem
Environmental affairs minister Mamdouh Riad told Reuters that auto
emissions were a bigger problem for Egypt than industrial pollution.
According to Riad, most of the country’s factories comply with
European environmental regulations, while others have been offered
soft loans to bring plants up to standard. “Air pollution is
our priority. Cars cause most of the pollution in Cairo,” Riad
said.
Moscow on the Red Sea
The number of Russian tourists visiting Egypt in January and February
2004 totaled 145,000, an increase of 50 percent compared to the
same period last year.
Exports to exceed $1 billion
Exports to the US increased by 21.4 percent on the year, climbing
from $942.5 million in 2002 to $1.1 billion in 2003. Leading sectors
last year included ready-made garments, accounting for $464.2 million,
and fertilizers and chemical exports, valued at $74.11 million.
SME licensing to be sped up
Parliament’s economic committee approved an article of the
draft law governing small and medium-sized enterprises (SMEs) last
month, stipulating that temporary SME licences are to be granted
within 30 days of application.
Emergency reconsidered
Egypt’s National Council for Human Rights on April 21 discussed
abolishing the emergency law, in force since 1981. The council is
reportedly preparing a study of alternative legislation, including
a proposal to allow the chief executive to declare emergency powers
only in certain instances.
FM stays home
Foreign affairs minister Ahmed Maher canceled his visit to Washington
in early April, which was to take place ahead of President Hosni
Mubarak’s visit to Crawford, Texas to confer with the US commander-in-chief.
Maher remained in Cairo to undergo medical checkups for heart trouble.
No love lost on U.S.
President Hosni Mubarak told Le Monde that America’s stock
with Arabs was at an all time low. “After what has happened
in Iraq, there is unprecedented hatred... There exists today a hatred
unprecedented in the region,” he said in remarks published
by the French daily on April 20.
J. Hancock goes electronic
Last month, parliament approved the electronic signature, or “e-signature,”
law. Under the legislation, courts won’t differentiate between
an electronic and a handwritten signature. The legislation provides
a framework aimed at boosting Egyptian participation in electronic
commerce.
Gods appeased before bid
On April 30, a 50-by-41 foot paper pyramid, comprised entirely of
messages of support for the country’s 2010 World Cup bid, is
to be unveiled. International football federation FIFA will announce
the winner on May 15. South Africa and Morocco are considered top
contenders.
QIZ on track, reportedly
According to an April 20 report in Israeli daily Maariv, Cairo,
Tel Aviv and Washington are expected to sign an agreement for a
Qualified Industrial Zone (QIZ) at an economic conference in Jordan
this month. Products made in the zone, to be established in Egypt,
will be given preferred entry to the US market. All goods, however,
must contain a specified percentage of Israeli input.
New chemical plant for Alex
Fluor Daniel, of the US, was awarded the project management contract
for the estimated $196 million linear alkyl benzene (LAB) plant
to be built in Alexandria, Middle East Economic Digest reported.
The local Engineering for Petroleum & Process Industries (Enppi)
is responsible for front-end engineering and design, while Enppi
and Petrojet will be jointly responsible for the engineering, procurement
and construction phase of the project.
Exploration blocks granted
The government awarded three oil and gas exploration licenses, entailing
total investments of $92 million and the drilling of at least 12
wells, Middle East Economic Digest reported in late March. BP Egypt
took two concessions, while RWE DEA of Germany and INA Naftaplin
of Croatia took the third.
Cairo hosts Africa Telecom
Cairo will host the International Telecommunication Union’s
Africa Telecom conference from May 4 to 8. The event will bring
together the representatives of governments, regulating bodies and
companies active in the continent’s burgeoning ICT sector.
The last continent-wide Africa conference by the ITU was held in
Johannesburg in 2001.
Enrique rocks Nile
Latin bubble-gum rocker Enrique Iglesias performed to a rapt audience
of more than 20,000 fans at Cairo’s Media City on April 17.
The concert, which opened with Lebanon’s Nancy Ajram, was the
largest in the country since 2001’s Sting fiasco.
Golf match flaunts Sharm
At the end of April, European Challenge Tour players teed off at
Egypt’s first-ever international golfing event. The Al-Ahram
Jolie Ville Sharm Al Sheikh Challenge was held at the Red Sea resort
city of Sharm Al Sheikh, on the Mövenpick Jolie Ville’s
golf course. Players competed for a $20,000 cash prize.
Riyadh welcomes meat n’ potatoes
In March, Egypt and Saudi Arabia agreed on freer trade measures
following talks in Cairo between Minister of Foreign Trade Youssef
Boutros-Ghali and his Saudi counterpart. Riyadh lifted a ban on
Egyptian meat and potato exports in response to Cairo’s move
to cancel an anti-dumping tax imposed on Saudi polypropylene and
polyethylene exports.
Sokhna port gets X-rays
The Ain Sokhna port is to install a new security system, purchased
from the Massachusetts-based American Science and Engineering Company
via loans guaranteed by the US Export-Import Bank. A high-tech X-ray
inspection system will be used to inspect large containers, while
another two systems will be used to inspect small cargo. The addition
is expected to facilitate the swift clearance of cargo.
OCI looks to Belgium
Orascom Construction Industries (OCI) announced plans to acquire
the Brussels-based industrial group Société Belge
des Betons (SBB), according to an April 8 story by online news magazine
MenaReport.
OCI lands Iraq deal
Orascom Construction Industries (OCI) announced that its share of
a new construction contract in Iraq – awarded by the US-led
Coalition Provisional Authority – could be worth up to $162.5
million, Forbes reported on March 25. Reportedly, OCI is participating
in a joint venture with several other contractors to design and
build Iraqi aviation facilities, ports, highways and bridges.
Carrying rice to Seoul
Egypt joined World Trade Organization talks aimed at opening South
Korea’s traditionally protective rice market. The US, Argentina,
Australia, China and Thailand also participated in the negotiations,
held in Geneva. The 10-year grace period on imported rice tariffs
– granted South Korea under the Uruguay Round – expires
this year.
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