CAIRO (MEMO) – The Egyptian government has said that anyone who wants to open a new business, including a supermarket or a hairdresser, will need the approval of the security apparatus.
According to the decree, 83 commercial activities now require such an approval but shops, venues and clubs belonging to the army are exempt.
Also on the list are shoe repair shops, cafes, gaming shops, shops selling electrical devices, wedding decorations, music and recording studios.
Egypt is going through a severe economic crisis with external debt and internal public debt soaring.
The military dominates certain economic sectors, which reduces the number of opportunities in the country. This decree could make matters much worse.
The war in Ukraine has further compounded Egypt’s economic crisis. As the world’s largest wheat importer, Egypt relies on Russia and Ukraine for 80 percent of its grain.
The war has also meant Russian and Ukrainian tourists are not visiting Egypt, some of the highest number of visitors and one of the biggest sources of revenue for the country before the conflict.
The decree has been published at the same time that the government has implemented a new law for shops under which shop owners must pay $4,000 to license shops with failure to do so resulting in prison and fines.
In 2020, as the global pandemic took hold, businesses shut and Egypt’s unemployment rose to a two-year high.