Business
The meeting reviewed the Plan and Budget Assembly of WEPCO and Badr Petroleum Company for the fiscal year 2023/2024.
He indicated that the compulsory reserve ratios for all Egyptian banks are in a good position, especially since there are decisions from 2017 to increase the compulsory reserve ratios from 4% to reach 14%, which puts banks in a better position.
He noted that investments into this project amounting to $85 billion, while direct job opportunities amounting to 45,000 and indirect job opportunities amounting to 230,000.
The report further highlights figures and facts related to Egypt’s wealth of black sands, their whereabouts, and the state’s efforts to make the best use of them.
The global city will include a free zone and a used car sale area, the agency complex area, traffic offices, car showrooms, and the rest of the services provided to the customers.
The Egyptian government has allocated investments for the Red Sea Governorate, according to the 22/23 year plan, at about 4.4 billion pounds, of which 57.6% is funded by the public treasury.
Egypt Today monitored a special magic that brings together workers to harvest tomatoes during the winter season, preparing them for cutting and drying on sawmills, and collecting them in sacks until they are prepared for export abroad.
The government has exerted great efforts to support the Egyptian industry through different steps as part of the "Start" initiative.
Climate change has profoundly affected businesses in African nations in a negative way, according to the UK Emerging Economies International Investment Climate Report.
The report attributed this to the launch of plans aiming at securing hard currency, encouraging and supporting local industry, and promoting the private sector's engagement in comprehensive development.
Egyptian Minister of Electricity and Renewable Energy, Dr. Mohamed Shaker, confirmed that the expansion of electricity generation projects using new and renewable energy in Egypt, has become indispensable, revealing that these projects have a positive impact on the state on different levels.
The Egyptian economy showed resilience during the Coronavirus (Covid-19) pandemic crisis as it recorded a 3-percent rise in the GDP rate and this, consequently, contributed to the successful economic reforms under President Abdel Fattah El Sisi’s leadership, the ambassador added.
According to Ahmed Abdel Hamid, the Head of the Building Materials Division of the Federation of Industries, "there is an exceptional circumstance in the industry and economy in the world, but Egypt is able to exceed this period."
Shoukry gave the remarks during a meeting with head of the foundation Martin Schulz.
At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate registered EGP 19.51 for buying and EGP 19.57 for selling.
The Senate’s Arab, Foreign and African Affairs Committee, headed by Dr. Effat El-Sadat, recommended the need to deepen local industrialization in Egypt, to raise the proportion of local components of the industrial product, and to settle many promising industries in industrial zones, free and qualified industrial zones (QIZ).
The startups in Egypt is developing its performance and is aiming to increase it from the current size.
The energy sector is one of the most prominent areas of cooperation between both states
So if you are about to start participating in this type of investment, whether you are an individual, an organization or a company, you need to know these details.
The development and management of primary energy resources is one of the most important pillars of sustainable development in Egypt.
