Egypt joins Geneva negotiations on Global Plastics Treaty, calls for urgent agreement    Egypt delivers over 30 million health services through public hospitals in H1 2025    Madinet Masr in talks for three land plots in Riyadh as part of Saudi expansion    Egypt's PM tells Palestinian PM that Rafah crossing is working 24/7 for aid    Egypt, Japan discuss economic ties, preparations for TICAD conference    Real Estate Developers urge flexible land pricing, streamlined licensing, and dollar-based transactions    Egypt's Sisi pledges full state support for telecoms, tech investment    EGP inches down vs. USD at Sunday's trading close    EGX launches 1st phone app    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    After Putin summit, Trump says peace deal is best way to end Ukraine war    Egypt, Namibia explore closer pharmaceutical cooperation    Jordan condemns Israeli PM remarks on 'Greater Israel'    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt strikes not investment risk - official
Published in The Egyptian Gazette on 07 - 04 - 2010

Investment Minister Mahmoud Mohieldin said Egyptian labour protests were focused on wages and contract demands at specific firms and did not pose a broader risk to local or foreign investment.
Low wages, surging prices and privatisation have been the major complaints in a rising number of industrial disputes involving public and private sector employees in both blue-collar and white-collar jobs.
"It is not really part of a trend. Workers have their own demands and when some sort of solution for employer and worker is reached these protests do not develop further," Mohieldin told a news conference late on Tuesday.
Over the past months, nurses, textile workers and taxi drivers have held protests and strikes in different provinces over pay and what they said were breached agreements.
Last week, a coalition of several labour groups, including factory workers and office employees, staged a joint protest demanding a higher national minimum wage in a move some analysts said could signal broader coordination - potentially denting Egypt's image as an investment friendly country.
"This is not an issue of concern for foreign or local investors in Egypt," Mohieldin said, adding that grievances were confined to specific issues such as wages or the negative effects of privatisation on specific companies and factories.
He was quoted by Reuters as saying some opposition politicians were seeking to capitalise on labour issues ahead of a parliament election this year and a presidential vote in 2011.
Most protests have involved workers at individual companies or factories, making it easier for the government to contain them. But analysts point to signs of coordinated strikes that may dampen investor interest in the sale of government assets.
The Government has handled isolated strikes swiftly, largely with concessions. But broader action would be harder to quell.
The minister brushed off any discontent, saying it was largely due to the "management of some companies".
Egypt is host to 60,000 registered firms, 25 per cent of which are foreign and include Arab investors.
Egypt's national minimum wage has been 35 pounds since 1984. Last week Egypt's Administrative Court ruled that the Government must set a minimum wage that took soaring prices into account but did not set a figure.
Protesters say the government seldom applies the court's rulings.
Inflation was 12.8 per cent in February, down from a peak of 23.6 per cent in August 2008 caused by surging world commodity prices.


Clic here to read the story from its source.