Submitted by basem — Tue, 12/30/2008 - 11:04
Tue 30 Dec 2008, 12:37 GMT
CAIRO (Reuters) - The Egyptian government plans to cut import tariffs on some capital and intermediary goods to zero percent from between 2 and 5 percent to boost investment, the daily newspaper Al Masry Al Youm said on Tuesday.
The changes will affect a number of industries, including automotive, spinning and weaving, dairy and food production, as well as spare parts for a number of household goods, according to the paper.
Read More:
http://africa.reuters.com/business/news/usnJOE4BT07A.html
Waiting for a Trickle
A new report says the majority of Egyptians have not benefited from the country’s economic growth
By Andrew Raven and Lara el Gibaly
The symbols of wealth are all around Mohamed Mahmoud Ali, a laborer in his mid-20s who works in the booming Cairo suburb of New Maadi. Not far from the small warehouse where he has spent the last eight years carrying boxes, new condos are rising from the desert sand. Down the street, construction crews are laying the foundation of what is rumored to be a mini-mall. Two blocks away, workers are soldiering on with a massive LE 100 million call center.
But despite the building, a testament to five years of strong economic growth in Egypt, Ali says he’s no better off than he was a decade ago. “We have not benefited from development,” he says, pointing to his worn t-shirt, a symbol of the failure of Egypt’s new wealth to ‘trickle down.’
Read more:
Business Today Egypt - October 2009
http://www.businesstodayegypt.com/article.aspx?ArticleID=8682