Latest news with #SuzanneClark
Zawya
26-05-2025
- Business
- Zawya
Egypt ready to host US industrial zone at SCZone: El-Sisi
President Abdel Fattah El-Sisi unveiled that Egypt is looking forward to hosting an American industrial zone in the Suez Canal Economic Zone (SCZone), Spokesman for the Egyptian Presidency Mohamed Ibrahim Abdel Khaleq El-Shennawy announced. El-Sisi's remarks came during a meeting with an American delegation, headed by the US Chamber of Commerce President Suzanne Clark and Apache American Oil Company's CEO John Christmann. He affirmed that Egypt is ready to provide all necessary facilities to American investors in all economic areas of mutual interest, according to El-Shennawy. This also comes in line with US President Donald Trump's support for enhancing joint cooperation between Egyptian and American companies. Finally, El-Sisi emphasized Egypt's aspiration to become a major industrial hub for American industries, as it is a large market and gateway to the Arab world and the African continent. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily News Egypt
25-05-2025
- Business
- Daily News Egypt
US-Egypt Policy Leaders Forum convenes in Cairo to boost economic ties
The US-Egypt Policy Leaders Forum convened in Cairo on May 25-26, 2025, a gathering focused on fostering economic collaboration and investment between the two nations. The American Chamber of Commerce in Egypt (AmCham Egypt), in collaboration with the United States Chamber of Commerce, the US-Egypt Business Council, and the Egypt-US Business Council, organised the forum. Leading the high-profile US business delegation is Suzanne Clark, President of the US Chamber of Commerce, joined by more than 55 senior executives from globally recognised American corporations across diverse industries. This visit underscores Corporate America's unwavering commitment to Egypt's long-term economic stability and prosperity, while exploring new business opportunities. Throughout the visit, delegates are scheduled to meet President Abdel Fattah Al-Sisi, Prime Minister Mostafa Madbouly, and senior Egyptian officials, discussing strategies for boosting investment and overcoming market challenges. Egypt remains one of the most strategically positioned and diversified economies in the region, offering investment prospects in energy, technology, healthcare, tourism, and financial services. The country's growing digital transformation and innovation-led industries provide avenues for US-Egyptian partnerships. The United States continues to be a major economic partner, with over 1,000 US firms operating in Egypt. The US ranked as Egypt's second-largest source of foreign direct investment (FDI) in FY 2023/24, contributing $3bn (5.3% of total FDI)—second only to the UAE. Additionally, Egypt holds its position as the fifth-largest regional trading partner to the US, with a total trade volume of $8.6bn in 2024. Despite regional geopolitical challenges, Egypt is implementing bold economic reforms aimed at fostering a more business-friendly environment. Over the past few years, the government has implemented far-reaching reforms aimed at creating a more competitive, transparent, and investor-friendly business environment. These reforms have encompassed critical areas, most significantly relating to investment reforms, tax incentives, financial sector modernisation, infrastructure development, and improvements in trade facilitation. Furthermore, Egypt has continued to invest heavily in infrastructure—expanding ports, roads, and logistics hubs—to streamline trade and commerce. The establishment of new industrial zones and free trade areas has further bolstered Egypt's position as a regional gateway for international businesses. Organisers state that all of these measures have allowed for greater participation from the private sector and international investors. AmCham Egypt, in partnership with its US counterparts, is hosting several high-profile events during the forum, including Ministerial Panels featuring Prime Minister Dr. Mostafa Madbouli and key Cabinet members. Each event is expected to bring together over 700 attendees, including government officials, diplomats, AmCham members, business leaders, academics, and media representatives, providing a platform for networking and strategic discussions. The US-Egypt Policy Leaders Forum reaffirms the strength of this longstanding bilateral partnership, paving the way for greater investment, trade expansion, and economic cooperation between Egypt and the United States.
Yahoo
02-04-2025
- Business
- Yahoo
Trade disputes and tariffs put Kentucky bourbon in the crosshairs
To borrow the words of Suzanne Clark, CEO of the U.S. Chamber of Commerce, 'All business is local.' Policies created at every level, from the federal level to the state and local levels, have ripple effects that directly impact not only national growth but the success of local businesses. We must recognize how policies across all levels intersect and impact Kentuckians. When these policies support free enterprise, everyone benefits. Kentucky contributes significantly to the national economy. In 2024, our GDP reached $234.5 billion, with local businesses doing the heavy lifting. If we want sustained economic growth across the nation, we must ensure that businesses in states like ours can thrive. Perhaps even more important to Kentuckians than national economic growth is what our businesses mean to us. Kentucky is home to over 380,000 small businesses and a civilian labor force of more than 2 million workers. Free enterprise is not a political point of view for us− it is essential to the well-being and prosperity of our families and neighbors. The past four years have brought challenges ranging from inflationary pressures to supply chain disruptions. Although Kentucky businesses have remained resilient, we still face critical issues that need to be addressed. Challenges at the federal level, such as regulatory policies that limit business growth and broad tariffs impacting trade, have created real concerns. Notably, in 2023, Kentucky's $9 billion bourbon and distilled spirits industry contributed over $357 million in tax revenue to local and state governments. Kentucky produces 95% of the world's bourbon and ranks second among U.S. states for distilled spirits exports. Additionally, our state's spirits industry sustains more than 23,000 jobs and generates year-round tourism, with more than 2.55 million experiences provided to Kentucky Bourbon Trail® visitors in 2023. The industry's extensive supply chain within Kentucky is a showcase of small businesses. It includes logging, stave mills, cooperages, still manufacturing, logistics and bottling, label and box manufacturing, along with a full array of professional services such as architectural, engineering, legal, and accounting. As the industry grew over the past 15 years, so did the supply chain. Our distillers now buy 74% of their corn from Kentucky farmers, up from 40% in 2014. The total of corn purchases rose to record levels in lockstep with the number of new barrels filled and total barrels aging in the state. As the industry grew, Kentucky brought its distilling success − supported and propelled by local businesses − to the world. Between 2009 and 2019, Kentucky's whiskey exports − primarily bourbon − rocketed from $151 million to nearly $489 million, according to the Kentucky Cabinet for Economic Development. Similarly, the state's total distilled spirits exports shot from $187 million in 2009 to nearly $568 million in 2019. Then, an unrelated trade dispute put Kentucky bourbon in the crosshairs. The European Union's 25% retaliatory tariffs dealt a major blow to the industry's success. Based on its trajectory from 2019, Kentucky's spirits industry lost $587 million in export business across the next four years. With the EU and U.K.'s retaliatory tariffs temporarily suspended, exports are climbing back but haven't yet reached 2018 levels, let alone their 2019 high point. We now find ourselves in a new era of trade disputes and tariffs. These market-disrupting decisions send waves down the industry's almost entirely onshore supply chain. Lost sales mean production scalebacks at distilleries, fewer barrel, bottle, and grain orders, and less revenue for investment production and visitor amenities. Kentucky's signature bourbon and spirits industry is just one example of how international and federal policies trickle down to local communities. Ultimately, policies that promote free enterprise principles will benefit every level of society − from the individual entrepreneur to the national economy. Free enterprise protects industries like Kentucky's bourbon industry that rely on trade and helps steer our country's America First attitude and pursuit of economic growth. I urge policymakers, at both the state and federal levels, to recognize the importance of policies that protect and grow businesses. I am optimistic about the future for business, but it is essential that we act now to strategically acknowledge and address the trickle-down effect that policies have on businesses − local or federal, large or small. This is not just about Kentucky; it's about ensuring that free enterprise continues to drive America's growth, innovation, and prosperity. Ashli Watts is president and CEO of the Kentucky Chamber of Commerce. This article originally appeared on Cincinnati Enquirer: Lawmakers must focus on policies that protect and grow businesses | Opinion
USA Today
31-01-2025
- Business
- USA Today
Americans want our government to grow the economy. Local businesses need it.
Suzanne Clark Opinion contributor If you want to understand the state of American business, just take a look around you. All American business is local because businesses must serve their customers where they live ‒ from the small businesses that line Main Streets in rural communities, to the farms and agriculture in the countryside, to the locally founded or headquartered businesses that employ hundreds or thousands of people. Across our nation, there are many thriving regions whose vitality is propelled by local businesses. There are also too many areas that suffer from a lack of that economic vitality. Washington can help all these communities and have the biggest impact if policymakers do everything in their power to foster growth. Opportunity and increases in standards of living flow from businesses operating in your community. This local footprint makes it possible for you to have things like your first job, the technology that allows you to access the internet, the food your family eats, the medicines you can pick up at the pharmacy, the energy that powers your home and vehicles, the bank account you use and the financing you need to start a business, and the global supply chains that allow you to have goods delivered to your doorstep. Our local businesses need sound public policy Local businesses and the opportunities they provide ensure communities can find their footing in challenging times or in the aftermath of a disaster. That's especially true in Los Angeles, where wildfires have brought about a tragic loss of lives, property and livelihoods. Need a break? Play the USA TODAY Daily Crossword Puzzle. As Angelenos recover and take stock of what's needed in the days ahead, the business community will have an outsize role in restoring normalcy and rebuilding. Think about what happens when these kinds of opportunities aren't readily available. Everyone knows about a community where crime crowds out commerce, where there are food deserts, where more people are leaving than laying down roots and building a future. There are too many communities that are left behind and never feel economic vitality and growth. Smart public policy can make a difference. Opinion:Americans feel the economy is working against them. How we can speed up economic growth. With the right policies, communities can become economically prosperous, welcoming diverse businesses of all sizes, reducing unemployment and building up a base of skilled workers, developing the infrastructure needed to reach global marketplaces, and encouraging businesses to innovate and expand. Voters have made it clear: Economic growth is the priority Growth won't solve all our problems or help communities boom overnight, but we can't make any progress without it. So we need more growth, and fast. Looking at the big picture, projections show that the economy is on track to grow at or above 3% in 2025, and there is reason to be optimistic about the year ahead. This is good news for everyone because every single percentage point in economic growth makes a huge difference in people's standard of living. At 3% sustained growth, individuals born today will see America's economy double by the time they are in their 20s. From the editor:Your view matters. We're creating space for all perspectives. Join Forum. No matter whom they voted for, the people signaled to Washington that they want more growth and opportunities for themselves and their families. That is the challenge going forward: How do we sustain robust economic growth, considering the demographic challenges and other headwinds facing the economy? As our political leaders address issues such as tax policy, unbalanced regulations, trade and energy security, to name a few, they must remember that all policy is local, too. The decisions they make will have a very real impact on businesses and people far away from Washington. We are at an important inflection point, and we are counting on the incoming administration and the 119th Congress to focus on growth. The business community is here to help policymakers get it right. To that end, the U.S. Chamber of Commerce focused our 2025 State of American Business event around the idea that all business is local. We took the event out of Washington, D.C., for the first time ever, broadcasting from the Dallas-Fort Worth area ‒ a community that exemplifies the growth, innovation and opportunity possible in America's vibrant free enterprise system. Every community has the potential to be a success story, and local businesses are eager to help make that potential a reality. Growth and opportunity are what all of us want, what Americans everywhere deserve, and what our future demands. Suzanne Clark is the president and CEO of the U.S. Chamber of Commerce.
