Pre-Trading Thoughts

El Sisi yesterday instructed cabinet to implement a package of incentives to support industrial activity and accelerate localization. -Provide new industrial projects in specific sectors a five-year exemption from all taxes, excluding VAT, provided the projects are up and running within three years. -Businesses that get their projects operational in half the agreed upon time frame will receive a 50% discount on the price they paid for the land. -Expand the granting of golden licenses to all t...