According to Egypt’s investment minister, Egypt does not expect Gulf Arab countries to reduce their investment in the country despite the fall in oil prices, as Cairo is of particular strategic importance for the region. Saudi Arabia, the United Arab Emirates and Kuwait, which support Sisi as a bulwark against the spread of political Islam in the region, have kept Egypt’s economy afloat.
[Reuters, 1/19/2015]
Tunisia seen as strong prospect if foreign investment can be unlocked
Four years after Tunisia sparked off the Arab Spring uprisings, the country is seen as a rare regional success story, but its prospects hinge on it deepening reforms and attracting foreign investment. According to a portfolio manager in Investec’s frontier markets team, “Tunisia has enormous potential to reform. However [it] is in desperate need of foreign direct investment to drive economic growth and job creation.” [Reuters, 1/19/2015]
EBRD, IDB unit to launch SME Fund for Egypt, Morocco, Jordan, Tunisia
The European Bank for Reconstruction and Development (EBRD) and the private sector arm of the Islamic Development Bank will launch this year a new fund to support small and medium-sized businesses in Egypt, Morocco, Jordan, and Tunisia. [Zawya, 1/19/2015]
Syria: New prices for heating oil and cooking gas
The Internal Trade and Consumer Protection Ministry issued a decision setting new prices of heating oil, cooking gas, and bread, to be effective as of Sunday January 18. As per these decisions, the price of one liter of heating oil (mazut) used for both heating and transport purposes is now set at SYP 125 for all sectors with the exception of facilities that produced bread for supply purposes. [SANA, 1/17/2015]
Aden Free Zone Customs levied YR 66 billion worth of revenues
The Yemeni Aden Free Zone Customs Unit levied more than YR 66 billion worth of revenues in 2014, of which YR 31.8 billion was in form of custom fees and YR 34.1 in other revenues. The levied total is 19 percent up from 2013. The unit director attributed this rise in revenues to the active international shipping witnessed by the seaport. [SABA, 1/18/2015]
Also of Interest:
Egypt: Back from the brink | Zawya
Egyptian pound hits historic low as country courts investors | Reuters
Iraq agrees to supply Egypt with 4 million barrels of oil per month | Zawya
Germany invests $115 million in Tunisia | Tunisia live
Libya: NOC holds meetings with subsidiaries | Libya Monitor (subscription)
Iraq to double its oil production soon | AIN