Business
The Minister traveled to Accra as part of the Egyptian delegation led by the Prime Minister to participate in the sixth coordination meeting of the African Union and regional economic groupings at the summit level (the 6th Mid-Year Coordination Meeting.)
Engineer Mohamed Shimi welcomed the Norwegian ambassador and the accompanying delegation, noting the depth and distinction of relations between Egypt and Norway, the aspiration to develop economic and industrial cooperation between the two countries, and aiming to attract more Norwegian investments.
Egypt's Ambassador to Japan, Mohamed Abu Bakr, confirmed that the Egyptian economy is taking steady and rapid steps on the path to adapting to the pressures imposed by global crises.
The Ministry of International Cooperation revealed, in a statement, that these efforts resulted in the mobilization of soft financing worth approximately two billion dollars, with $700 million approved by the World Bank’s Board of Directors within the Development Policy Financing (DPF) program.
Data from the Central Agency for Public Mobilization and Statistics revealed today, Tuesday, that the value of trade exchange between Egypt and Jordan reached $864 million during the year 2023, compared to $990 million during the year 2022, as the value of Egyptian exports to Jordan reached $658 million during the year 2023, compared to $732 million during the year 2022.
During the meeting, Hala Al-Saeed reviewed the role of the Sovereign Fund of Egypt, its mechanism of operation, and the investment opportunities provided by the Fund.
Egyptian Minister of International Cooperation, Dr. Rania Al-Mashat, held a bilateral discussion session with Ambassador Peter Mollema, the Dutch Ambassador to Cairo, to discuss joint work files and follow up on the implementation of programs and projects
Egyptian exports witnessed a major boom in 2022, growing by 19.4% percent. The total value of exports rose to $52.1 billion, compared to $43.6 billion in the previous year.
The figures showed that the after Egyptian engineering exports recorded levels that are the highest in the history of Egyptian engineering exports.
The meeting comes to discuss means of joint cooperation in the field of building ships and the different maritime units.
The index data attributed this advanced ranking to the fact that Egypt has taken measures to invest in large-scale renewable energy projects, such as encouraging the installation of solar and wind energy.
Egyptian Prime Minister Dr. Mostafa Madbouly witnessed Wednesday the signing ceremony of 7 cooperation agreements in the fields of green hydrogen and renewable energy.
Egypt enjoys strong relations and a huge portfolio size with the European Investment Bank (EIB), in light of the role played by the Ministry of International Cooperation to develop and strengthen economic relations with multilateral and bilateral development partners and international institutions.
The visit of Turkish President Recep Tayyip Erdogan to Egypt gives a new impetus to enhancing economic cooperation and trade exchange between both countries, especially since they are linked with distinguished historical economic relations.
During the past few days, the Governor of the Red Sea, Major General Amr Hanafy, opened the first factory in Egypt and the Red Sea for the manufacture of fiber yachts in the industrial city of Hurghada.
The ministry also screened 146 industrial and investment plots nationwide to determine unoccupied land plots.
The company plans to establish new buildings and production lines, a move that will not only boost its operations but also generate numerous employment opportunities for young individuals.
During the forum, Qatar's Minister of Commerce and Industry, Mohammed bin Hamad bin Qassim, disclosed that Qatar had already invested over $5.5 billion in Egypt's financial, real estate, and energy sectors
The Egyptian exports value reached $2 billion during 2022, compared to $618.6 million during 2021, recording an increase of 219.5 percent.
President of the General Syndicate for Engineering, Metallurgical and Electrical Industries, Engineer Khaled Al-Feki, revealed that there are serious steps Egypt is taking to localize the traditional and electric car industry.
