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Financials and Investment News in Egypt

Int’l Cooperation Min. Named Vice-Chair of EBRD Annual Meetings
5/14/2024 - Minister of International Cooperation and Governor of Egypt at the European Bank for Reconstruction and Development (EBRD) Rania al Mashat, has been chosen for the first time ever as vice-chair of the...
Military Production Min. Asserts Significance of Luring Fresh Investments
5/14/2024 - Minister of State for Military Production Mohamed Salah El Dien Mostafa asserted the importance of attracting fresh investments for the benefit of entering into partnerships in various domains, whethe...
11,000 Tons of Goods Handled at Red Sea Ports
5/14/2024 - About 11,000 tons of goods were handled at the different Red Sea harbors, the Red Sea Ports Authority (RSPA) said.

In a statement, the RSPA said the imports included 3,000 tons of goods, 28...
Egypt Raises Training Budget to LE 1.7B In 34-Fold Increase Over Past 5 Years
5/18/2024 - Egypt's Minister of Communications and Information Technology (MCIT), Amr Talaat, highlighted the role of Egypt's Digital Creativity Centers in empowering entrepreneurs to acquire technical, economic,...
PM: Egypt’s Entrepreneurship Sector Attracts Over $2B in Investments During Past 4 Years
5/18/2024 - Prime Minister, Mostafa Madbouly, announced that the entrepreneurship sector in Egypt has attracted investments exceeding $2 billion over the past four years.

Emphasizing Egypt’s commitment...
PM: Egypt Aims to Become Regional Industrial Hub
5/18/2024 - Prime Minister Mostafa Madbouly on Saturday 18/05/2024 toured the Kom Abu Radi and Bayad Al-Arab industrial zones in Beni Suef.

Following this, he visited the Technology Village to engage ...
PM: Economic Reforms Based on Several Sectors Topped By Industry
5/18/2024 - Prime Minister Mostafa Madbouli said that the state is working on promoting the local industry as well as localization of various industries, in line with the underway economic reform measures carried...
Fitch Ratings Revises Outlook of Four Egyptian Banks to Positive
5/19/2024 - Fitch Ratings has revised its outlook on four Egyptian banks to positive from stable, affirming their long-term issuer default ratings at B-, the US-based credit rating agency announced .

T...
Egypt's Exclusion from ILO's Observations List Reflects Commitment to Workforce Welfare: Minister
5/19/2024 - Minister of Labor Hassan Shehata has highlighted that Egypt's absence from the International Labor Organization's (ILO) observations list for 2024 signifies the country's dedication to providing enhan...
Egypt's General Healthcare Authority, JICA Sign Cooperation Protocol
5/19/2024 - Chairman of the General Healthcare Authority Ahmed Sobky witnessed, the inking of a cooperation protocol between the authority and the Japan International Cooperation Agency (JICA) on financing a Japa...
Global Inflation Raises Egypt’s Import Bill By $4 Bln Monthly: Finance Minister
5/20/2024 - The global inflationary wave has raised Egypt's import bill by $4 billion per month due to the rise in global prices, increased shipping costs, and exchange rate fluctuations, Minister of Finance Moha...
Planning Minister: Success of Sugar Company Result of Cooperation Among Stakeholders
5/25/2024 - Minister of Planning and Economic Development and Egypt's Governor at the Islamic Development Bank (IsDB) Group, Dr. Hala El-Said has said the success story of the Al Sharkeya Sugar Manufacturing Comp...
Egypt Automates Real Estate Tax System to Improve Services Quality
5/25/2024 - Minister of Finance Dr. Mohamed Maait confirmed that a project to develop and automate the real estate tax system was launched in cooperation with the tax solutions operating technology company E-Tax,...
Petroleum Minister: New Expansions in Refineries to Increase Production, Link Depots Digitally
5/25/2024 - Petroleum Minister Tarek el Mulla asserted that the strategy of the petroleum sector prioritizes applying digital transition programs as part of the project of developing and upgrading the sector that...
Trade Ministry Denies Suspending Release Of Personal-Use Vehicles
5/25/2024 - Ministry of Trade and Industry refuted reports claiming that a ministerial decision has suspended the release of cars imported for personal use for three months.

In a statement, the ministr...
Planning Minister: Success of Sugar Company Result of Cooperation Among Stakeholders
5/25/2024 - Minister of Planning and Economic Development and Egypt's Governor at the Islamic Development Bank (IsDB) Group, Dr. Hala El-Said has said the success story of the Al Sharkeya Sugar Manufacturing Comp...
ECA Announces Implementation of Ex-Ante Merger Control System Starting from June 2024
5/26/2024 - The Egyptian Competition Authority (ECA) has announced the implementation of an ex-ante merger control system starting from June 2024.

This was revealed by the Chairman of the ECA, Mahmoud...
PM Asserts Increasing Amount of Commodities at Suitable Prices
5/26/2024 - Egypt’s Prime Minister Moustafa Madbouli underlined the government’s keenness on increasing the amount of all staple commodities and meat which are available at cooperatives nationwide at suitable pri...
Udf Contributes to Establishment of Craftsmen Neighborhood, Says Minister
5/26/2024 - Egyptian Trade and Industry Minister Ahmed Samir said that the Urban Development Fund (UDF) had contributed to the establishment of a craftsmen neighborhood in Monshaat Nasser.

Extending ov...
GAFI Promotes Dutch Investment in Egypt During World Hydrogen Summit
5/26/2024 - The General Authority for Investment and Free Zones (GAFI) is actively courting Dutch investment in the green hydrogen sector. GAFI's CEO, Hossam Heiba, is currently on a promotional tour to the Nethe...

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