Egyptian Cabinet
The company will specialize in the manufacturing and maintenance of yachts and marine units, with a commitment to meeting all necessary licensing and regulatory requirements
Egypt's current annual exports amount to $53 billion and the PM expressed his desire to increase this figure by 17-18 percent by 2030, to reach almost $145 billion
Employees in both the public and private sectors throughout Egypt will have a paid holiday from April 9-14 to celebrate Eid Al-Fitr, which marks the end of the holy month of Ramadan in the Muslim calendar.
The Prime Minister revealed that a significant quantity of goods and merchandise will be released from the ports on the same day.
Madbouly inspected the artificial silk and polyester factory in Kafr El Dawar and is currently heading to the Alexandria port to supervise the release of goods from the port.
Egypt will also receive soft loans from the World Bank and the European Union, according to the Prime Minister.
Egypt's NIR consist of various currencies such as the U.S. dollar, euro, Australian dollar, Japanese yen, and Chinese yuan. These reserves include foreign exchange, gold, and a variety of international currencies
Madbouly added that measures will be taken to convert $5 billion from the United Arab Emirates (UAE) deposit to Egyptian pounds (EGP)
The agreements include investments of $12 billion for the pilot phase and approximately $29 billion for the first phase
The primary objective of this project is to attract investors who would contribute to the establishment of a green hydrogen production plant, requiring investments ranging from $2 to $3 billion
The new regulations aim to govern funds and private accounts while complementing efforts to establish a robust framework for preparing, implementing, and monitoring the state's general budget and economic entities
The Egyptian government is anticipated to raise the local wheat procurement price per ardeb this year as a means of supporting farmers amidst inflation, according to a statement released by the Cabinet on Sunday.
Egypt’s National Dialogue lauded the Egyptian Cabinet approval of the largest direct investment deal through a partnership with major entities, announced Thursday.
The Cabinet approved on Thursday suspending the load-shedding program across Egypt throughout the holy fasting month of Ramadan.
During the meeting, El Menshawy explained that the Egyptian government has made great strides in the field of green hydrogen, whether in terms of creating the appropriate environment for investments or entering into partnerships with major international companies
This came in line with Cabinet decisions, which exempted travelers from paying customs duties and other associated charges, excluding the value-added tax (VAT). The cabinet gave its approval in May to a proposal that introduced an exemption for individuals who bring gold into the country
Egypt’s Cabinet has announced issuing a research project that includes the proposed strategic orientations for the Egyptian economy during the third presidential term of President Abdel Fattah El-Sisi, spanning 2024 to 2030.
In further collaboration with the Egyptian government, the International Finance Corporation (IFC) is conducting preliminary studies for the potential inclusion of 50 additional state-owned companies, Madbouly added.
Furthermore, this expansion is expected to create approximately 45,000 new direct and indirect job opportunities, providing a much-needed boost to the labor market
Public employees in Egypt who have been working from home on Sundays in August as part of a government plan to reduce electricity consumption will work their shifts in the office starting September.
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