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Egypt’s General Authority for Investments & Free Zones takes WAIPA Regional directorship for MENA region

Egypt’s General Authority for Investments and Free Zones (GAFI) has been elected as regional director of The World Association of Investment Promotion Agencies (WAIPA) in the Middle East-North Africa region, at the 27th World Investment Conference (WIC) of the leading global body representing government agencies in charge of attracting inward investment, held in New Delhi. […]

Morocco’s industrial output nears $100 bln – minister

Morocco’s industrial sector has expanded to nearly 900 billion dirhams ($98 bln) in national production, including around 400 billion dirhams in exports, marking a decisive step in the country’s shift toward an industrial policy centered on economic sovereignty, Moroccan industry and trade minister Ryad Mezzour said. The figures were presented by Ryad Mezzour during a parliamentary session, […]

Egypt scraps requirement for letters of credit for imports

The Central Bank of Egypt (CBE) abolished a February 2022 circular requiring the use of letters of credit for imports, and allowed the use of collection documents instead, Arab Finance reports. The CBE in a late December circular scrapped the letter of credit which provides an irrevocable guarantee to the exporter that the importer’s bank […]