The CEO of the group also mentioned that the company has already invested $2.5 billion in Egypt so far
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.
The proposal, developed through collaboration between the cabinet and private sector developers, seeks to attract both Egyptian expats and foreign investors.
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
The United Arab Emirates (UAE) ranked first as the largest importer of gold, precious stones and jewelry from Egypt with imports worth $534M
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
This comes on the heels of the PM’s inspections of several factories in 10th of Ramadan City and Obour City on Saturday.
Both companies will begin studies on a project to export electricity from renewable energy from Egypt to Europe via a Mediterranean Sea line.
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
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
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
Through this expansion, an area of 21,000 square meters will be added to Hengtong’s factory in the Sokhna Industrial Zone.
The agreements outlined plans for new expansions and the establishment of an additional 3 km2 industrial zone within the Sokhna Industrial Zone
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
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.
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
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.
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.
The primary objective of the forum is to showcase a range of favorable investment prospects for the private sector.
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,”