CAIRO - 16 July 2026: Egypt's Cabinet approved a series of investment and administrative decisions during its weekly meeting on Thursday, including the establishment of a logistics zone in Toshka, a new industrial project by Elsewedy Electric, and the transfer of the Housing Finance Fund's assets to the New Urban Communities Authority (NUCA).
The government approved contracting with a specialized transport and logistics company to develop an integrated 30-feddan logistics and services zone in Toshka, Aswan. The project will serve the planned dry port in the area and is expected to support trade, logistics, and supply chains in Upper Egypt.
According to the Cabinet, the logistics hub will also help boost Egyptian exports, particularly agricultural products, as part of the state's strategy to position Egypt as a regional and global logistics center.
The Cabinet also approved a contract with Elsewedy Electric to establish a factory for manufacturing electrical wiring harnesses and related components on a 22.6-feddan site in Manshaat Kamal, Fayoum.
In a separate decision, ministers approved a draft presidential decree to abolish the Housing Finance Fund, established under Presidential Decree No. 494 of 1979.
Under the proposed decree, all assets and resources of the fund will be transferred to the New Urban Communities Authority (NUCA), which will assume all contractual rights and obligations with beneficiaries. The fund's board of directors will also be dissolved, and the position of executive director will be eliminated.
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