Mostafa Madbouly

Majid Al Futtaim Holding Group to invest $1B into Egyptian markets

Mon, 27 Nov 2023 - 01:02 GMT

The CEO of the group also mentioned that the company has already invested $2.5 billion in Egypt so far

National Green Hydrogen Strategy gets National Green Hydrogen Council’s approval

Sun, 26 Nov 2023 - 03:41 GMT

By aiming to capture 5 to 8 percent of the global hydrogen market, the country seeks to make significant contributions to the reduction of carbon dioxide emissions, targeting a decrease of 40 million tons annually.

Madbouly proposes initiative to offer real estate sales in USD

Thu, 23 Nov 2023 - 05:06 GMT

The proposal, developed through collaboration between the cabinet and private sector developers, seeks to attract both Egyptian expats and foreign investors.

EIB’s new regional HQ in Cairo to “open new opportunities to advance development efforts”

Wed, 22 Nov 2023 - 04:41 GMT

The new HQ will enhance the bank’s cooperation with Egypt and Middle Eastern and North African (MENA) partners, as well as open “new opportunities to advance development efforts in the coming years,” according to an official statement

Egypt’s gold, jewelry exports decrease 4% in first 9M of 2023

Wed, 22 Nov 2023 - 03:15 GMT

The United Arab Emirates (UAE) ranked first as the largest importer of gold, precious stones and jewelry from Egypt with imports worth $534M

FinTech and sustainability are key enables of change, Madbouly

Tue, 21 Nov 2023 - 05:02 GMT

Prime Minister Mostafa Madbouly expressed his belief that financial technologies and sustainability are key drivers of change as “we live in a rapidly evolving digital age,” during a speech on Tuesday

Promoting IT sector’s limitless potential, Madbouly tours 6 tech companies

Sun, 19 Nov 2023 - 05:17 GMT

This comes on the heels of the PM’s inspections of several factories in 10th of Ramadan City and Obour City on Saturday.

Egypt approves electricity export project MoU with Belgium’s Jan De Nul and EETC

Thu, 26 Oct 2023 - 03:12 GMT

Both companies will begin studies on a project to export electricity from renewable energy from Egypt to Europe via a Mediterranean Sea line.

Madbouly, EBRD president discuss opportunities to expand co-op in renewable energy

Thu, 26 Oct 2023 - 02:04 GMT

Emphasizing the strong relations between the EBRD and Egypt, Madbouly called on the bank to expand the scope of cooperation on renewable energy projects between the two

Xingxing to build two $1.08B factories in the SCZONE

Wed, 25 Oct 2023 - 04:37 GMT

Xinxing Cathay International Group to invest $1.08 billion in two factories in the Suez Canal Economic Zone (SCZone), Xinxing head Jia Shirui said during a meeting

Egypt’s PM follows up on IPO, reforms program

Sun, 22 Oct 2023 - 11:43 GMT

The implementation of the structural reforms program was discussed in the meeting as it is a top priority in the government’s development strategy due to its importance to the Egyptian economy especially in industry, agriculture, and communications technology fields

SCZONE, Hengtong sign $18M optical cables investment agreement

Wed, 18 Oct 2023 - 05:25 GMT

Through this expansion, an area of 21,000 square meters will be added to Hengtong’s factory in the Sokhna Industrial Zone.

Egypt sign $755M tripartite framework agreements within SCZONE

Tue, 17 Oct 2023 - 01:28 GMT

The agreements outlined plans for new expansions and the establishment of an additional 3 km2 industrial zone within the Sokhna Industrial Zone

PM tours companies in Smart Village within framework of promoting outsourcing sector

Thu, 12 Oct 2023 - 04:58 GMT

Through Egypt’s efforts and support, industry export returns are estimated to reach up to $9 billion in 2026, and will open up thousands of job opportunities for Egyptians

Egypt announces reduction in prices of 7 basic commodities to tackle soaring inflation

Mon, 09 Oct 2023 - 01:33 GMT

The commodities to see significant price reductions include sugar, oil, lentils, dairy products, cheese, and pasta. These price reductions will take effect starting from the upcoming Saturday.

Egyptian government and CBE tackle soaring prices of essential commodities

Wed, 04 Oct 2023 - 06:02 GMT

In an official statement released on Tuesday, the Cabinet announced that an initiative to tackle this problem is being designed, with all the specific details set to be unveiled next week

Egypt holds its first National Green Hydrogen Council meeting

Tue, 19 Sep 2023 - 04:01 GMT

The prime minister ordered the executive committee to speed up the approval process for green hydrogen projects and provide exceptional incentive packages to the first companies that sign final contracts.

Egypt to set up a $1B industrial steel complex

Wed, 13 Sep 2023 - 04:50 GMT

PM pointed out that the annual production capacity of the project will be 1.8 million tons and that production is expected to start after 18 to 24 months from obtaining approvals.

Egypt inaugurates the Environmental and Climate Forum

Tue, 12 Sep 2023 - 11:41 GMT

The primary objective of the forum is to showcase a range of favorable investment prospects for the private sector.

National Investment Forum set for first half of 2024, PM Madbouly

Mon, 11 Sep 2023 - 05:12 GMT

The forum’s main objectives include legislative reforms, support for small and medium-sized enterprises (SMEs), and the development of megaprojects. This multifaceted approach aims to position Egypt as a “regional hub for investment and logistics services,”