DOCSLIB.ORG

Unlocking Value: Alternative Fuels for Egypt’S Cement Industry

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Unlocking Value: Alternative Fuels for Egypt’S Cement Industry UNLOCKING VALUE: Alternative Fuels For Egypt’s Cement Industry IN PARTNERSHIP WITH 25years UNLOCKING VALUE Alternative Fuels For Egypt’s Cement Industry DISCLAIMER © International Finance Corporation 2016. All rights reserved. 2121 Pennsylvania Avenue, N.W. Washington, D.C. 20433 Internet: www.ifc.org The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. IFC encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly, and when the reproduction is for educational and non-commercial purposes, without a fee, subject to such attributions and notices as we may reasonably require. IFC does not guarantee the accuracy, reliability or completeness of the content included in this work, or for the conclusions or judgments described herein, and accepts no responsibility or liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever or for reliance thereon. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. The findings, interpretations, and conclusions expressed in this volume do not necessarily reflect the views of the Executive Directors of The World Bank or the governments they represent. The contents of this work are intended for general informational purposes only and are not intended to constitute legal, securities, or investment advice, an opinion regarding the appropriateness of any investment, or a solicitation of any type. IFC or its affiliates may have an investment in, provide other advice or services to, or otherwise have a financial interest in, certain of the companies and parties (including named herein. All other queries on rights and licenses, including subsidiary rights, should be addressed to IFC’s Corporate Relations Department, 2121 Pennsylvania Avenue, N.W., Washington, D.C. 20433. International Finance Corporation is an international organization established by Articles of Agreement among its member countries, and a member of the World Bank Group. All names, logos and trademarks are the property of IFC and you may not use any of such materials for any purpose without the express written consent of IFC. Additionally, “International Finance Corporation” and “IFC” are registered trademarks of IFC and are protected under international law. Table of Contents LIST OF FIGURES ...................................................................................................................................... 4 LIST OF TABLES ......................................................................................................................................... 5 ABBREViatiONS ....................................................................................................................................... 6 ELEMENTS AND COMPOUNDS .................................................................................................................. 8 GLOssarY ................................................................................................................................................ 9 FOREWORD ........................................................................................................................................... 10 PREFACE ................................................................................................................................................. 11 EXECUTIVE SUMMARY ............................................................................................................................. 12 CHAPTER 1: INTRODUCTION .................................................................................................................... 23 1.1. Alternative Fuels as a Viable Option for Egypt’s Cement Industry .......................................................... 23 1.2. Approach and Methodology .............................................................................................................. 24 CHAPTER 2: A CHANGING ENERGY PICTURE .............................................................................................. 27 2.1 Egypt’s Energy Crisis .......................................................................................................................... 27 2.2 The Cost of Energy Subsidies .............................................................................................................. 28 2.3 Cement Producers and Rising Fuel Costs ............................................................................................. 28 2.4 Diversifying the Energy Mix ............................................................................................................... 29 2.5 Alternative Fuels: A Key Substitute for Coal ......................................................................................... 29 2.6 Other Market Drivers: Regulating Waste ............................................................................................ 30 CHAPTER 3: CO-PROcessiNG: MAKING THE MOST OF RESOUrces ........................................................33 3.1 International Trends .......................................................................................................................... 33 3.2 Co-Processing Technical Considerations ............................................................................................. 36 3.2.1 Municipal Solid Waste (MSW) .................................................................................................... 37 3.2.2 Agricultural Waste ................................................................................................................... 37 1 3.2.3 Dried Sewage Sludge (DSS)....................................................................................................... 38 3.2.4 Tire Derived Fuel (TDF) ............................................................................................................. 38 3.2.5 Other Technical Considerations ................................................................................................. 39 3.3 AFR Pre-Processing ............................................................................................................................39 CHAPTER 4: UNLOCKING THE AlterNatiVE FUELS SUPPLY ....................................................................... 41 4.1 Municipal Solid Waste (MSW) .............................................................................................................. 41 4.1.1 MSW Supply in Egypt ................................................................................................................ 41 4.1.2 Challenges in Using MSW for AFR .............................................................................................. 50 4.2 Agricultural Waste ............................................................................................................................ 50 4.2.1 Agricultural Waste Supply in Egypt ............................................................................................ 50 4.2.2 Challenges in Using Agricultural Waste as AFR ............................................................................54 4.3 Sewage Sludge ..................................................................................................................................55 4.3.1 Sewage Sludge Supply in Egypt ..................................................................................................55 4.3.2 Challenges in Using Sewage Sludge as AFR .................................................................................57 4.4 Tire Derived Fuel (TDF) .......................................................................................................................57 4.4.1 TDF Supply in Egypt ..................................................................................................................57 4.4.2 Challenges in Using TDF as AFR ................................................................................................. 60 4.5 Summary ......................................................................................................................................... 60 CHAPTER 5: MAPPING CEMENT INDUSTRY DEMAND ................................................................................. 63 5.1 Egypt’s Cement Industry .....................................................................................................................63 5.2 Cement Production Forecast by 2025 ...................................................................................................65 5.3 Thermal Energy Needs ....................................................................................................................... 66 5.4 Alternative Fuels Status in Egypt ........................................................................................................ 69 5.5 Future Scenarios for AFR Use in Egypt ................................................................................................ 70 5.5.1 Group 1 – AFR Early Movers ....................................................................................................... 70 5.5.2 Group 2 – Cement Plants Moving to Use AFR ..............................................................................
Load more

Recommended publications
  • Egypt Healthcare GENERAL HOSPITALS CLINICS
    The Pulse. 7th Edition 2017 Egypt Healthcare GENERAL HOSPITALS CLINICS We have a number of opportunities for healthcare We are seeking investors to partner with a service providers, where the market entry is recognized healthcare operator to establish possible by way of management agreement, Joint Clinics in: Venture and Long-term Lease of Land and/or > Riyadh Property. > Abu Dhabi > Riyadh > Sharjah > Cairo > Cairo > Ajman Possible modes of market entry include: > Dubai > Fujairah > Management Agreement > Joint Venture > Abu Dhabi > Long-term Lease of Land and/or Property Providers and Investors Seeking to Expand in the Middle East and North Africa Opportunities for Healthcare Service The opportunities are available in: LONG TERM CARE & CENTERS OF REHABILITATION CENTERS EXCELLENCE We are seeking to introduce well known Long- An established and recognized healthcare term Care and Rehabilitation providers to known provider is seeking to setup centers of investors in Cairo, Ajman, Abu Dhabi and Riyadh. excellence through management agreement, joint venture or long term lease. The way of dealing is available through: The opportunities The Specialties are: > Management Agreement are available in: > Ophthalmology > Joint Venture > Riyadh > Pediatric > Long-term Lease of Land > Cairo > Maternity and/or Property > Dubai > IVF > Abu Dhabi > Orthopedic > Sharjah > Beauty & Cosmetics > Ajman > Wellness > Fujairah Introduction Egypt is the most populous Arab Ian Albert Regional Director | Middle East and North Africa country in the world with Valuation and Advisory 94.7 million residing in Egypt [email protected] and 9.5 million living abroad. With a population growth rate of 2.2% per annum, this will continue to fuel demand for infrastructure services with a direct impact on the evolving Mansoor Ahmed Director | Middle East and North Africa urban landscape.
    [Show full text]
  • Fossil Fuel Subsidy and Pricing Policies
    WPS7531 Policy Research Working Paper 7531 Public Disclosure Authorized Fossil Fuel Subsidy and Pricing Policies Recent Developing Country Experience Public Disclosure Authorized Masami Kojima Public Disclosure Authorized Public Disclosure Authorized Energy and Extractives Global Practice Group January 2016 Policy Research Working Paper 7531 Abstract The steep decline in the world oil price in the last quarter Recent experience suggests that regular and frequent of 2014 slashed fuel price subsidies. Several governments price adjustments, however small—as in Jordan and responded by announcing that they would remove subsidies Morocco—help the government and consumers to get for one or more fuels and move to market-based pricing accustomed to fluctuations in world fuel prices and with full cost recovery. Other governments took advantage exchange rates. By contrast, freezing prices, even for a few of low world prices to increase taxes and other charges on months—for socioeconomic considerations or because fuels. However, the decision to move to cost recovery and the needed adjustments are small enough to be absorbed— market prices, ending budgetary support, has not been increases the risk of reversion to ad hoc pricing and price implemented consistently across countries. Policy announce- subsidies. The more formally the decision to move to ments have varied in the way they were communicated and market-based pricing is communicated, the more public the level of detail provided. When petroleum product prices new price announcements, and the higher the frequency bounced back during the first half of 2015, some “reform- of price changes, the more likely the implementation of ing” governments failed to raise prices correspondingly.
    [Show full text]
  • Sexual Violence by Security Forces in Egypt
    EXPOSING STATE HYPOCRISY: SEXUAL VIOLENCE BY SECURITY FORCES IN EGYPT Article 1: All human beings are born free and equal in dignity and rights. They are endowed with reason and conscience and should act towards one another in a spirit of brotherhood. Article 2: Everyone is entitled to all the rights and freedoms set forth in this Declaration, without distinction of any kind, such as race, colour, sex, language, religion, political or other opinion, national or social origin, property, birth or other status. Furthermore, no distinction shall be made on the basis of the political, jurisdictional or international status of the country or territory to which a person belongs, whether it be independent, trust, non-self-governing or under any other limitation of sovereignty. Article 3: Everyone has the right to life, liberty and security of person. Article 4: No one shall be held in slavery or servitude; slavery and the slave trade shall be prohibited in all their forms. Article 5: No one shall be subjected to torture or to cruel, May 2015 / N°661a Cover photo: Mohamed Mahmoud Street, Cairo, 19 November 2014. Copyright: Reuters/Amr Abdallah Dalsh 2 / Titre du rapport – FIDH I. INTRODUCTION -------------------------------------------------------------------------------------4 II. SECURITY ABUSES AND WIDESPREAD SEXUAL VIOLENCE -------------------------9 III. SEXUAL VIOLENCE AS A POLITICAL INSTRUMENT --------------------------------- 19 IV. INVOLVEMENT OF STATE ACTORS -------------------------------------------------------- 24 CONCLUSION AND RECOMMENDATIONS --------------------------------------------------- 28 FIDH – Exposing state hypocrisy: sexual violence by security forces in Egypt / 3 I. INTRODUCTION Since the military takeover in July 2013 and resumed control by the army and the police, there has been a surge in sexual violence perpetrated by the security forces in Egypt.
    [Show full text]
  • Egypt's New President
    JULY 2014 EGYPT’S NEW PRESIDENT: “I WILL NOT SLEEP AND NEITHER WILL YOU. WE MUST WORK, NIGHT AND DAY, WITHOUT REST.”1 By Ann M. Lesch Dr. Ann Lesch is emeritus professor of political science at The American University in Cairo and adjunct professor at Villanova University. The views expressed here are her own and do not represent the views of those universities. Abdel Fattah El-Sisi, anointed president by 97 percent of the voters in May 2014, addresses Egyptians as their elder brother, insisting on correcting their wayward behavior. He’ll make sure that they get up at 5 a.m. so they can work hard and he’ll ensure that they adhere to ‘correct’ Islamic practices so they stop harassing women. He will rein in consumption by installing energy-efficient light bulbs in every home, and he insists that Egyptians walk or bicycle to work. (He has even calculated exactly how much they will save by not buying fuel for their cars.) Above all, he prioritizes security – the war against terror – which requires national unity and state power. Security trumps the right to protest and the need for higher wages. With executive and legislative power concentrated in the presidency until the House of Representatives is elected next autumn, his compliant cabinet rushes to meet his demands. Indeed, he compelled the ministers to take the oath of office at 7 a.m. on June 17 and then chaired the first cabinet meeting, which lasted for seven hours. As El- Sisi rises by 5 a.m. for dawn prayers, he expects government officials to be at work by 7 a.m.
    [Show full text]
  • Malnutrition in the OIC Member Countries: a Trap for Poverty
    Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC ) Malnutrition in the OIC Member Countries: A Trap for Poverty COMCEC COORDINATION OFFICE March 2017 Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC) Malnutrition in the OIC Member Countries: A Trap for Poverty COMCEC COORDINATION OFFICE March 2017 This report has been commissioned by the COMCEC Coordination Office to the Institute of Development Studies (IDS). The authors of the report are Dr. Jean-Pierre Tranchant, Dr. Catherine Mueller, Dr. Rajith Lakshman, Ms. Jessica Meeker and Ms. Katherine Pittore. Views and opinions expressed in the report are solely those of the authors and do not represent the official views of the COMCEC Coordination Office or the Member Countries of the Organization of Islamic Cooperation. The final version of the report is available at the COMCEC website.* Excerpts from the report can be made as long as references are provided. All intellectual and industrial property rights for the report belong to the COMCEC Coordination Office. This report is for individual use and it shall not be used for commercial purposes. Except for purposes of individual use, this report shall not be reproduced in any form or by any means, electronic or mechanical, including printing, photocopying, CD recording, or by any physical or electronic reproduction system, or translated and provided to the access of any subscriber through electronic means for commercial purposes without the permission of the COMCEC Coordination Office. For further information please contact: COMCEC Coordination Office Necatibey Caddesi No:110/A 06100 Yücetepe Ankara/TURKEY Phone: 90 312 294 57 10 Fax: 90 312 294 57 77 Web: www.comcec.org *E-book: http://ebook.comcec.org Table of Contents EXECUTIVE SUMMARY ...................................................................................................................
    [Show full text]
  • Egypt's New President
    JULY 2014 EGYPT’S NEW PRESIDENT: “I WILL NOT SLEEP AND NEITHER WILL YOU. WE MUST WORK, NIGHT AND DAY, WITHOUT REST.”1 By Ann M. Lesch Dr. Ann Lesch is emeritus professor of political science at The American University in Cairo and adjunct professor at Villanova University. The views expressed here are her own and do not represent the views of those universities. Abdel Fattah El-Sisi, anointed president by 97 percent of the voters in May 2014, addresses Egyptians as their elder brother, insisting on correcting their wayward behavior. He’ll make sure that they get up at 5 a.m. so they can work hard and he’ll ensure that they adhere to ‘correct’ Islamic practices so they stop harassing women. He will rein in consumption by installing energy-efficient light bulbs in every home, and he insists that Egyptians walk or bicycle to work. (He has even calculated exactly how much they will save by not buying fuel for their cars.) Above all, he prioritizes security – the war against terror – which requires national unity and state power. Security trumps the right to protest and the need for higher wages. With executive and legislative power concentrated in the presidency until the House of Representatives is elected next autumn, his compliant cabinet rushes to meet his demands. Indeed, he compelled the ministers to take the oath of office at 7 a.m. on June 17 and then chaired the first cabinet meeting, which lasted for seven hours. As El- Sisi rises by 5 a.m. for dawn prayers, he expects government officials to be at work by 7 a.m.
    [Show full text]
  • Free to Think Report of the Scholars at Risk Academic Freedom Monitoring Project ACKNOWLEDGMENTS
    Free to Think Report of the Scholars at Risk Academic Freedom Monitoring Project ACKNOWLEDGMENTS Scholars at Risk gratefully acknowledges the members of higher education communities worldwide who through their courage and dedication have inspired us. We acknowledge especially the researchers contributing to the monitoring project by reporting and analyzing incidents, tracking down sources and witnesses, and helping to develop advocacy responses. We thank the many member institutions, associations, partners and individuals who contribute to our work beyond the monitoring project, including especially through their direct assistance for threatened scholars. We gratefully acknowledge the financial, programmatic and administrative support that makes our work and this report possible, including especially the support of the National Endowment for Democracy, the Vivian G. Prins Foundation, the Sigrid Rausing Trust, the Open Society Foundations, New York University, the members of the network Board and the many Friends of Scholars at Risk who help us each day to protect more scholars. This report is the result of research conducted by the Scholars at Risk Academic Freedom Monitoring Project and may not reflect the views of individual network members institutions or participating individuals. Scholars at Risk invites comments on this report or inquiries about our work at [email protected]. June 2015 ISBN 978-0-692-45867-9 © Scholars at Risk 2015. All rights reserved. No part of this publication may be used or reproduced in any manner without written permission except brief quotations in articles or reviews. For use or information contact Scholars at Risk at [email protected]. Cover: Egyptian police clashed violently with students at Al-Azhar University, leaving at least one student dead, four more injured and two university buildings damaged.
    [Show full text]
  • The Struggle for the Levant
    THE STRUGGLE FOR THE LEVANT Geopolitical Battles and the Quest for Stability Aram Nerguizian First Review Draft: August 20, 2014 Anthony H. Cordesman Arleigh A. Burke Chair in Strategy [email protected] CSIS-Burke Chair: 1616 Rhode Island Avenue NW, Washington, DC 20036; 202-775-3270, Burke [email protected] The Struggle for the Levant 08.20.14 ii EXECUTIVE SUMMARY The United States and its allies compete with Iran in a steadily more unsettled and uncertain Levant. This study focuses on how this competition is affected by the political upheavals in the Middle East, economic and demographic pressures, sectarian struggles and extremism, ethnic and tribal conflicts, and how these tensions all combine to produce new complex patterns of competition. The civil war in Syria, the Israeli-Palestinian conflict in Gaza, and the internal upheavals in Egypt, Jordan and Lebanon all interact and all affect the competition between the US and Iran. Accordingly, the study examines a broader view of the Levant that includes Egypt, Israel, Jordan, Lebanon, the Palestinian Territories and Syria. The analysis shows that the United States faces an increasing level of instability across the Levant, which in turn affects every key aspect of US competition with Iran in the broader Middle East and North Africa. It examines how the US and Iran compete in the Levant, where they compete, and what forces and constraints shape their competition: o The first chapter of this report introduces the analysis. o The second explores US and Iranian interests in the Levant. o The third chapter addresses how the US and Iran compete by considering the conventional military balance in the Levant.
    [Show full text]
  • Containment As Foreign Policy Doctrine in Two United States 'Wars
    Containment as Foreign Policy Doctrine in Two United States ‘Wars’ : from the Cold War to the War on Terror : How Do Arab Spring Countries Fit into the Scheme? Hamda Tebra To cite this version: Hamda Tebra. Containment as Foreign Policy Doctrine in Two United States ‘Wars’ : from the Cold War to the War on Terror : How Do Arab Spring Countries Fit into the Scheme?. History. Université Paris-Est, 2020. English. NNT : 2020PESC0029. tel-03230848 HAL Id: tel-03230848 https://tel.archives-ouvertes.fr/tel-03230848 Submitted on 20 May 2021 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. Université Paris Est Creteil UPEC Ecole Doctorale Cultures et Sociétés Laboratoire de Recherche: Institut des Mondes Anglophone, Germanique et Roman (IMAGER) Thèse de Doctorat en Langue, Littératures et Civilisations Etrangers (Anglais) Specialité : Civilisation Américaine. par Mr Hamda TEBRA Containment as Foreign Policy Doctrine in Two United States ‘Wars’: From the Cold War to the War on Terror How Do Arab Spring Countries Fit into the Scheme? Directrice de Recherche Mme. Le Professeur Donna Kesselman Professeur des Universités en Civilisation Américaine, Université Paris Est Créteil. Présenté et soutenu publiquement à l‘UPEC le 13 Janvier 2020 pour l‘obtention de titre de docteur en Etudes Anglophone - Civilization Americaine.
    [Show full text]
  • Perceptions of Online Academics' and Al-Jazeera.Net's News Coverage Of
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by UKM Journal Article Repository Jurnal Komunikasi: Malaysian Journal of Communication Jilid 36(1) 2020: 124-146 Perceptions of Online Academics’ and Al-Jazeera.net’s News Coverage of the Egyptian Political Transformation 2013-2014 MOKHTAR ELARESHI Al Ain University of Science and Technology, United Arab Emirates HATEM ALSRIDI ABDUL-KARIM ZIANI Bahrain University, Bahrain ABSTRACT The growth and expansion of the Internet has enabled many people to communicate and engage in different manners and it is easier than ever now to obtain news and information content via different online sittings. However, concerns grow about the effects of misinformation that has been circulated via different online media sites to influence public views. This research was aimed at exploring online academic news users’ behaviour and their attitudes towards news information given by Al-Jazeera.net during the Egyptian transformation (2013-2014) in Egypt. Based on an online survey (450 users) and focus- group interviews (six respondents) with Egyptian academics, the research discussed whether users were aware of the media interest or agenda and how users became informed about the political conflict and the transformation, their perceptions of news sites and their evaluation of information regarding this period. The research confirmed that every media has its own interest or agenda when delivering news content, which might favour one side over another. Users indicated that misinformation was found in different forms and, although others underlined the importance of freely accessing online content, there was concern about the spread of misinformation the morality and credibility of online news.
    [Show full text]
  • UNESCO Condemns Killing of Journalists Assassinated Journalists in 2014
    UNESCO Condemns Killing of Journalists Assassinated Journalists in 2014 Summary Total condemnations: 98 cases Local journalists killed: 81 Foreign journalists killed: 17 Female journalists killed: 9 Male journalists killed: 89 Journalists killed in Africa: 11 Journalists killed in Arab Region: 41 Journalists killed in Asia and the Pacific: 12 Journalists killed in Central and Eastern Europe: 8 Journalists killed in LAC: 26 Journalists killed in Western Europe and North America: 0 Robert Chamwami Shalubuto (Congolese) Journalist for public broadcaster Congolese National Radio and Television (CNRT) Killed on 26 December 2014 in Democratic Republic of Congo [UNESCO Statement] Marcos de Barros Leopoldo Guerra (Brazilian) Lawyer and journalist Killed on 23 December 2014 in Brazil [UNESCO Statement] [Member State Response 2016] Reynaldo Paz Mayes (Honduran) Founder and broadcaster of TV channel RPM TV Canal 28 Killed on 15 December 2014 in Honduras [UNESCO Statement] [Response from Member State 2016] Mahran al-Deeri (Syrian) Al Jazeera correspondent Killed on 10 December 2014 in Syria [UNESCO Statement] 1 UNESCO Condemns Killing of Journalists Assassinated Journalists in 2014 Youssef Mahmoud El-Dous (Syrian) Journalist for Orient TV Killed on 8 December 2014 in Syria [UNESCO Statement] Rami Adel Al-Asmi (Syrian) Journalist for Orient TV Killed on 8 December 2014 in Syria [UNESCO Statement] Salem Abdul-Rahman Khalil (Syrian) Journalist for Orient TV Killed on 8 December 2014 in Syria [UNESCO Statement] Luke Somers (American) Freelance journalist
    [Show full text]
  • Studying the Effects of Political Risk on FDI Inflows
    POLICY PAPER Studying the Effects of Political Risk on FDI Inflows By Powered by EU Agenda - Your hub for all things EU Create and publish your own publications for free. Signup at https://euagenda.eu/signup/ Policy Paper 2 of 10 ESADEgeo POSITION PAPER 40 JUNE 2016 Studying the Effects of Political Risk on FDI Inflows: The Case of Egypt Raul Alcaide Alonso Editorial Manager Oxford Business Group Studying the Effects of Political Risk on FDI Inflows: The Case of Egypt Raul Alcaide Alonso Editorial Manager Oxford Business Group June 2016 Executive Summary  Political risk is one of the factors posing the greatest constraints to investment by companies, therefore negatively affecting foreign direct investment (FDI), especially in unstable emerging markets.  In the case of Egypt, FDI inflows over the period 2010-2014 have followed a pattern influenced by different political risk events happening over that time.  Sectors behave individually and distinctly, with war, terrorism, and political violence comprising the sources of risk with the highest impact on them.  The current level of political risk faced by foreign investors in Egypt is very high, as reflected by the results obtained by applying the ICRG methodology.  High involvement of the military in politics, as well as corruption, terrorism, unemployment, poverty, low democratic accountability and poor quality of bureaucracy are among the sources of risk posing larger threats.  War, ethnic tensions, civil war/coup threat, and government unity are relatively lower risks for foreign investors. Introduction The main aim of this paper is to underscore the importance of performing sound political risk analysis in addition to the regular economic and/or financial assessments executed prior to entering new markets, especially developing ones.
    [Show full text]