DISCOVERING a New Mining Law Changes the Game OPPORTUNITIES OPPORTUNITIES
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MARCH 2019 NOT FOR SALE DISCOVERING A new mining law changes the game OPPORTUNITIES OPPORTUNITIES www.amcham.org.eg/bmonthly WOMEN BREAKING GLASS CEILINGS GLASS BREAKING WOMEN ASSIUT WOMEN AND TECHNOLOGY SERICULTURE INDUSTRY SERICULTURE ▲ ▲ ▲ ALSO INSIDE ▲ ▲ ▲ BUSINESS MONTHLY DISCOVERING OPPORTUNITIES MARCH 2019 Cover Feb 2019.qxp_Cover.qxd 3/6/19 12:58 PM Page 1 TOC.qxp_TOC.qxd 3/6/19 1:07 PM Page 1 MARCH 2019 VOLUME 36 | ISSUE 3 Inside 14 Editor�s Note 16 Viewpoint The Newsroom 18 In Brief An analytical view of the top monthly news In Depth 20 Defying Gender Roles Four women challenge social norms in male-dominated occupationss Emerging Trends 24 Chic Street Vendors A rising market with significant potential At a Glance 44 Financial Inclusion of Women in Egypt A story in infographics Market Watch xx Market woes deepen © Copyright Business Monthly 2018. All rights reserved. No part of this magazine may be reproduced without the prior written consent of the editor. The opinions expressed in Business Monthly do not necessarily reflect the views of the American Chamber of Commerce in Egypt. 10• Business Monthly - MARCH 2019 TOC.qxp_TOC.qxd 3/6/19 1:07 PM Page 2 MARCH 2019 VOLUME 36 | ISSUE 3 Cover Story 28 Unearthing Opportunities Egypt�s new mining draft law Cover Design: Nessim N. Hanna Investor Focus 46 From Silk to Carpets The sericulture industry�s hurdles and potential In Focus 36 The Women of Assiut�s Mobile Factory Unveiling the potential of Upper Egyptians in hardware manufacturing 41 The Drive for Women A look into the rise of female ride-hailing drivers in Egypt 42 Women�s Employment Rights The current law vs the new suggested amendments The Chamber 51 Events 59 Exclusive Offers 60 Media Lite An irreverent glance at the press © Copyright Business Monthly 2018. All rights reserved. No part of this magazine may be reproduced without the prior written consent of the editor. The opinions expressed in Business Monthly do not necessarily reflect the views of the American Chamber of Commerce in Egypt. 12• Business Monthly - MARCH 2019 Editorial.qxp_Editorial.qxd 3/6/19 1:09 PM Page 1 Editor’s Note Director of Publications & Research Khaled F. Sewelam Editor-in-Chief Nadine Abou el Atta Contributing Editors Tamer Hafez Kate Durham The Rise Consulting Editor Tell him to ask about me,� she said confidently. �Everyone knows Om Bassem Bertil G. Peterson the plumber.� That was the reply I got when I argued that the address was not specific enough for the photographer to find it. But she was right. She is per- Writers haps one of very few, if not the only, female plumber in Egypt. A true success Ola Nour El Din Adam Sakaria story that emerged from a very difficult life and one of many that Business �Monthly�s editorial team hit the streets to find. Contributing Writer I have been a journalist and an editor for many years now and, to date, this is my Nayrouz Talaat absolute favorite issue. Like most, we decided to celebrate women in our March publication, but in our own way. Our amazing team of journalists searched for Senior Art Director Nessim N. Hanna women who prove that glass ceilings and gender limitations don�t exist in Egypt. We have interviewed a mechanic from Esna in the deep south, a taxi driver from the Senior Graphic Designer harsher side of Cairo, a deep-sea welder from Alexandria, and young women from Emy Emile Mousha, a small town in Upper Egypt, who are some of the first to work on mobile hardware construction in the country. Graphic Designer Verina Maher Our interviews on the matter cover three different topics: women in male-domi- nated fields; female drivers in ride-hailing services; Egypt�s first mobile phone facto- Advertising & Business Development ry, which employs only women from Assiut. Director Focusing on women hasn�t shifted our attention away from some significant steps Amany Kassem taken by the Egyptian government, most notably, the new mining draft law, which finally addresses the hurdles impacting investment in the sector. Advertising Coordinator Lamia Seleit Furthermore, in efforts to aid other industries, the government has removed all tariffs on silkworm eggs to aid the struggling sericulture industry. While an excellent Circulation Coordinator step, stakeholders have raised concern. Veronica Gendy Smaller industries have also received government attention. Street vendors can now legally sell their products in certain locations in Cairo, with official laws reg - Photographers Ahmed Gamal ulating the matter throughout the nation on the way. Find out how vendors feel Said Abdelmessih about it. With that, I wish you a happy March and a soon to follow spring. Production Supervisor Hany Elias NADINE ABOU EL ATTA Market Watch Analyst EDITOR-IN-CHIEF [email protected] Amr Hussein Elalfy Chamber News Contacts Nada Abdalla, Azza Sherif, Susanne Winkler U.S. address: 1615 H Street, NW • Washington, D.C. 20062 Please forward your comments or suggestions to the Egypt editorial office: Business Monthly American Chamber of Commerce in Egypt 33 Soliman Abaza Street, Dokki 12311 • Cairo • Egypt Tel: (20-2) 3338-1050 • Fax: (20-2) 3338-0850 E-mail: [email protected] www.amcham.org.eg/bmonthly CTP and printing: Sahara Printing Company, SAE – Nasr City Free Zone @BusinessMonthlyEg @BusinessMonthly @BusinessMonthly 14• Business Monthly - MARCH 2019 Viewpoint.qxp_Viewpoint.qxd 3/6/19 1:13 PM Page 1 Viewpoint Charging Ahead e are nearing our annual Doorknock Mission set for the first week of April. Many challenges await us and the dynamics and momentum in Egypt is keeping us on our toes. W As much as we are enjoying the continuous success in result-driven endeavors, such as Egypt�s growing economy and its rising regional profile, exemplified by holding the EU-Arab League Summit in Sharm el Sheikh, as much as we are still witnessing trickles of terror and incompetence in the administration of the ongoing bureaucracy. The latest of which is the tragic train accident in Cairo Central Station, an example of the negligence of low-level operators that led to the resignation of the transport minister. An unfortunate result, noting that he has been one of the more potent ministers. Having said that, despite how fast we move forward the challenge of overhauling the governance of the country remains a reality. Which leads us to the proposed constitutional amendments that are stirring up a debate between those who oppose it and naturally its proponents. We have seen lately several dynamics that are enlivening the political debate, whether through social media or articles in the press from several opinion leaders, such as Hossam Badrawi, Mohamed Ghoneim, Ziad Bahaa el Din, Abdel Moneim Said, Shawky el Sayed, and Ahmed Galal. All debating the timing and essence of the amendments, along with a national pro campaign addressing the grassroot constituencies, championed by several NGOs and parliamentarians. I would say finally the debate is picking up�a part from the general convictions� that the majority are likely to vote for it. However, the speaker of Parliament announced that discussions are still ongoing and nothing is yet conclusive, a notion that suggests the debate is a test of the political climate before reaching a final conclusion. Time will tell and it would not surprise me to see twists and turns in the final draft. There is a general sentiment�even though not necessarily shared by everyone� that the term of Sisi should be extended under the conviction that the job is still half done. Continuing the necessary reform and capacity building needs time. We are talking pragmatism not ideology. The debate should focus more on checks and balances, separation of power, transition to the next presidency, and the fundamentals that are needed to guarantee a smooth future transition. It will be a lively month and the jury, in my humble opinion, is still out. TAREK TAWFIK President, AmCham Egypt 16• Business Monthly - MARCH 2019 InBrief new.qxp_InBrief.qxd 3/6/19 1:16 PM Page 2 THE NEWSROOM IN BRIEF Infrastructure Projects Underdevelopment EGP 18 B 20 Total Cost Housing Projects Infrastructure Updates The Ministry of Housing and Urban Development announced in February that 132 projects with an investment value of EGP 18 billion are currently under construction. Projects in the 53 pipeline include the establishment of 53 roads, 35 service facili- Road Projects ties, and 20 housing projects across Egypt. Road projects, amounting to a total of EGP 14.95 billion, include the construc- tion of 30th of June Corridor, a dual 95-kilometer carriageway, 35 132 five-lane highway connecting the Port Said-Damietta Highway Service Facility Total Projects with the Cairo-Ismailia Highway. Additionally under construc- Projects tion, a 310 kilometers roadway to connect Farafra Oasis with Source: Ministry of Housing and Urban Development Dayrout. Furthermore, the West Assiut Plateau highway, stretching 22.5 kilometers to connect Cairo with Assiut is Red Sea, as part of its infrastructural revamp project. Similar among the slated to come to life this April. Moreover, a total of infrastructure will be laid to eight border villages in various gov- 25 Bedouin settlement projects are being established to house ernorates including New Atfih in Giza, Al Qasr Al Islamia in 325 residential units and 372 settlement units. Water desalina- The New Valley, and Awlad Yehia in Sohag to name a few. Across tion plants, land storage facilities, a water distribution grid, and 12 governorates, 11,830 out of a total of 20,000 social housing water pipes will be implemented in Bernis, a port town on the units are expected to be finished by the end of this fiscal year.