02 | Egypt shifts to targeted FDI promotion across 16 sectors

As of 2026-09-30, Egypt is preparing a foreign direct investment strategy covering 16 industrial sectors and 1,330 investment opportunities. Businesses assessing the Egyptian market should check whether their industries fall within the priority scope and whether specific projects fit their export plans, rather than relying on broad investment-promotion messages.

Egypt’s Minister of Investment and Foreign Trade said the new strategy will move from general promotion campaigns to targeting investors by priority sector and specific opportunity. Its aims include expanding the non-oil economy, increasing exports and raising hard-currency earnings. Disclosed priorities include garments and textiles, foodstuffs, automotive manufacturing, electrical equipment and engineering, electronics assembly, pharmaceuticals, green and renewable energy, machinery and chemicals. The full list of 16 sectors has not yet been released.

Egypt has also set a target of US$100 billion in non-oil exports by 2030. Once the strategy is published, businesses should examine project locations, export conditions, supporting infrastructure and the form of government support. A “priority sector” label alone is not enough to support an investment decision.

Source: AGBI, 2026-09-28

03 | Oman applies zero-rated VAT to 807 food items

Oman has expanded its zero-rated food list to 807 items, effective 2026-10-01. Food importers, distributors and retailers should check each product against the revised list instead of assuming that every item within a broad category such as meat, dairy or grains qualifies for the zero rate.

The Oman Tax Authority updated the list under Decision No. 225/2026. It covers meat and poultry; milk, dairy products and cheese; vegetables and fruit; fish, shrimp and squid; eggs; grains, legumes and flour; bread; water; animal feed; and certain products used in food production. The zero rate applies only to the items specified on the list.

Businesses should update product tax classifications, invoice settings, procurement contracts and retail pricing. Continuing to use old tax codes could result in overcharging or undercharging VAT, or create discrepancies between tax filings and transaction records. The treatment of each product remains subject to the Oman Tax Authority’s latest publication.

Source: Oman Observer, 2026-09-27

04 | Egypt tightens risk-sharing rules for credit and guarantee insurance

Following an update by Egypt’s Financial Regulatory Authority, credit providers can no longer transfer all covered risk to insurers. When an insured event occurs, the insured party or credit provider must retain at least 25% of the outstanding principal of the insured financing or credit facility. That portion cannot be transferred through another arrangement.

Decision No. 3132/2026 applies to property and liability insurers licensed to conduct credit and guarantee insurance, excluding domestic and export commercial credit and guarantee insurance. The Financial Regulatory Authority may require a higher retention ratio for certain risks or portfolios based on loss and default rates, concentration and portfolio characteristics.

Insurers must include risk acceptance and rejection criteria, credit-assessment methods, collateral requirements, exposure and concentration limits, default monitoring, recoveries, reinsurance and early-warning indicators in board-approved underwriting policies. Pricing models must account for probability of default, exposure at default, recovery rates, coverage and retention ratios, tenor, collateral, expenses and reinsurance costs, with annual back-testing and validation.

Businesses relying on credit protection should review their policies, financing agreements and endorsements, especially the provisions on risk retention, eligibility for compensation and renewal pricing. Side arrangements that conflict with the formal policy, weaken the retention requirement or alter compensation rights may not be recognised. Implementation remains subject to the Financial Regulatory Authority’s latest publication.

Source: Daily News Egypt, 2026-09-29

05 | Iraq and Syria plan dedicated border lanes for commercial vehicles

Iraq and Syria have agreed to expand the Rabia border crossing and introduce dedicated lanes for commercial vehicles. For businesses operating overland freight between the two countries, any improvement in clearance times will depend on lane separation, customs-data exchange and border expansion being implemented together.

The parties plan to expand the Rabia crossing by 100 dunams to accommodate more trucks and fuel tankers. Cross-border trucks, fuel vehicles and vehicles carrying perishable goods will use dedicated lanes, while passenger and commercial traffic will be separated. Border authorities also plan to establish direct communication channels and exchange customs data electronically, including cargo descriptions, weights and duties.

The arrangements cover the shared crossings at Rabia, Walid and Al-Qaim. Logistics operators should monitor the actual launch date at each crossing, vehicle-booking requirements, data-submission formats and arrangements for perishable goods before adjusting routes and delivery schedules.

Source: Iraq Business News, 2026-09-29

06 | Bahrain allows foreign workers to work temporarily for a second employer

Bahrain’s new rules give employers more room to manage short-term labour demand, but an arrangement cannot take effect solely through an agreement between the two employers. An eligible foreign worker may work for a second employer for up to three months while retaining the existing work permit, provided that the worker gives written consent, both employers agree and the Labour Market Regulatory Authority approves the arrangement.

Decision No. 2 of 2026 amends the rules governing work permits for foreign workers and excludes domestic service workers. The second employer must generally meet the same or a higher Bahrainisation rate than the original employer. Where its rate is lower, an additional regulatory fee may apply. Both employers share legal responsibility for protecting the worker’s employment rights during the temporary assignment.

Workers may also be assigned to another establishment owned by the same employer or to a company within the same corporate group, provided that the receiving establishment’s activity is subject to the same or a higher Bahrainisation rate. Before arranging an assignment, businesses should verify regulatory approval, written consent, the receiving entity’s registration details, working hours and employment-rights protections. The applicable requirements remain subject to the Labour Market Regulatory Authority’s latest publication.

Source: People Matters, 2026-09-29

Other updates

  • 07 | UAE e-invoicing: first deadline one month away: Businesses with annual revenue of AED 50 million or more must appoint an accredited service provider by 2026-10-30 and go live on 2027-01-01; smaller businesses must appoint a provider by 2027-03-31 and begin issuing e-invoices on 2027-07-01. (Source: Gulf News, 2026-09-29)
  • 10 | UAE cuts domestic heliport registration to two days: The General Civil Aviation Authority has replaced the previous certification requirement with a simplified registration system, reducing processing time from up to 135 days to two working days. (Source: Gulf News, 2026-09-28)
  • 11 | Iraq studies overseas oil storage in Oman and other markets: Iraq is considering participation in refinery and crude-storage projects in Oman, Egypt and Singapore; its State Oil Marketing Organization previously signed agreements with Omani companies to develop an integrated crude-storage project in the Special Economic Zone at Duqm. (Source: Iraqi News, 2026-09-27)
  • 12 | Qatar consults on private-sector nationalisation plans and targets: The Ministry of Labour held a second consultation session with listed companies to discuss implementation mechanisms for the private-sector nationalisation law, challenges facing businesses and their proposals. (Source: The Peninsula, 2026-09-29)
  • 13 | UAE and Egyptian central banks renew AED 5 billion currency swap: The five-year agreement has a nominal value of AED 5 billion, equivalent to EGP 69 billion, and is intended to support bilateral trade, local-currency settlement and financial cooperation. (Source: Central Bank of Egypt)
  • 14 | Egypt’s textile export growth remains below the pace needed for its 2030 target: Ready-made garment exports reached approximately US$2.525 billion from January to August 2026, up 16% year on year; an industry representative said meeting the US$20 billion annual textile and garment export target by 2030 will require a broader exporter base and more local companies in international supply chains. (Source: Daily News Egypt, 2026-09-29)
  • 15 | Bank financing for Egypt’s small enterprises reaches EGP 301 billion: The Central Bank of Egypt’s Deputy Governor said bank financing for small enterprises stood at about EGP 301 billion, while bank and non-bank financing for microenterprises exceeded EGP 107 billion. (Source: Daily News Egypt, 2026-09-29)
  • 17 | Iraq’s dollar exchange rate returns to the IQD 158,000 range: On 2026-09-29, the parallel-market selling rate in Baghdad rose to about IQD 158,000 per US$100, with markets in Erbil and Basra also recording increases. (Source: Iraqi News, 2026-09-29)
  • 18 | Iraq’s population expected to exceed 50 million by 2030: Planning officials expect the population to pass 50 million by 2030; the 2024 census recorded approximately 46.12 million people, and further growth will add to demand for housing, schools and healthcare. (Source: 964media, 2026-09-28)
  • 19 | Iraq restores oil exports to 70% of previous levels: Analysts said Iraqi oil exports have recovered to 70% of pre-war volumes, supported by changes in transportation methods. (Source: Iraq Business News, 2026-09-30)
  • 20 | US troop withdrawal prompts a reassessment of investment risk in Iraq: Gulf businesses are reviewing Iraq’s security risks and their implications for investment plans as US forces prepare to leave, although interest in investing remains. (Source: Iraq Business News, 2026-09-29)
  • 21 | Türkiye pledges swift capital-market reforms: President Recep Tayyip Erdoğan said the government would make administrative and legal changes to capital-market rules in response to an investment-fund crisis, while stating that the problems had not spread to the wider financial system. (Source: Hürriyet Daily News)
  • 23 | UAE free zone launches AI-powered business registration platform: Innovation City has deployed an AI platform that integrates business-registration services through interactive tools while retaining the free zone’s existing governance and regulatory framework. (Source: Gulf News, 2026-09-28)
  • 24 | Bahrain tenders industrial complex in Salman Industrial City: The Ministry of Industry and Commerce has invited bids to lease a land plot for the design, financing, construction, operation and maintenance of a multi-storey industrial complex for 25 years, with bids due on 2026-12-23. (Source: TradingView, 2026-09-29)
  • 25 | Egypt plans truck marshaling yard at Sokhna Port: The project involves investment of more than EGP 1 billion and covers 167,000 square metres, combining a truck yard with a digital traffic-management system intended to reduce waiting times and port congestion. (Source: Log Update Africa, 2026-09-28)
  • 26 | Egypt links mineral extraction with manufacturing value chains: The industry authorities are assessing whether domestically extracted minerals can support manufacturing and are linking extraction, processing, refining and mineral-based production to increase the value retained from natural resources. (Source: Daily News Egypt, 2026-09-29)
  • 28 | Iraq’s 2027 budget enters ministerial review: The Ministry of Finance has completed the draft 2027 federal budget and submitted it to the Ministerial Council for the Economy; the draft also proposes a gradual expansion of programme and performance budgeting. (Source: Kurdistan24)
  • 29 | Iraq advances implementation of public-finance automation: The Finance Minister said automation projects are moving into practical implementation to improve procedures, resource and data management, and oversight and transparency across financial institutions. (Source: Iraqi News Agency)

Last updated: September 2026. This content is for informational purposes only and does not constitute legal or tax advice.