According to Egypt’s investment minister, Egypt’s government has to deliver economic growth in order to survive and should not let complex laws and bureaucracy discourage foreign investment. Currently it takes foreign investors up to six months to secure the licenses and permissions needed to operate in Egypt. [Reuters]
Tunisia: EBRD pledges € 120 million to finance projects
According to the European Bank for Reconstruction and Development (EBRD) the investment the bank has scheduled for Tunisia in 2015 will reach “no less than 120 million euros”. The investments are aimed at supporting agribusiness, finance, services and housing projects. [African manager, TAP (French)]
Iraq’s oil exports rising in October despite unrest
As a sign that the fighting has not derailed the expansion of supplies from Iraq, OPEC’s second largest producer, the country’s oil exports from its southern terminals are close to a record high in October. Kurdish shipments are also raising. OPES is set to review its supply policy on November 27, a challenging task with the increased supply from Iraq and the production recovery in Libya. [Reuters]
Saudi Arabia provided $435 million to support Yemen
According to new Saudi Ambassador to Yemen Al-Jaber, Saudi Arabia supported Yemen by providing $435 million in aid to the Social Welfare Fund in September. The aid was aimed at addressing the needs of 1.5 million needy Yemenis. The Ambassador also stated that Saudi Arabia is keen on maintaining the security, stability and prosperity of Yemen and its people. [Reuters]
Also of Interest:
Egypt considering $1.5b foreign bond as it repairs economy | Gulf News
Tunisians head to polls amid concerns over economy, security | Voice of America
Jordan expects to finalize Israel gas deal next month | Zawya
Analysts: Sisi reforms key to Egypt’s economic upswing | Al Arabiya
Libya’s elected parliament slashes budget due to lower oil revenues | Reuters
Jordan: low oil prices will boost resource-poor country | IBT
Morocco’s 2015 Budget based on 4.4percent GDP growth, earmarks $6 billion for debt servicing | The North Africa Journal
The rebirth of Egypt | Today’s Zaman
Egyptian pound steady on official, weaker on black market | Reuters
Business leaders optimistic at Inland Empire economic conference | Daily Bulletin
Morocco’s AMDI and Chinese Foreign Investment Development Agency sign MoU | MAP
Morocco, FAO sign two agreements in agricultural sector | MAP