Mostafa Madbouly
The meeting aimed to explore opportunities to attract foreign buyers and generate new foreign exchange sources for the Egyptian economy
A detailed report of the observations collected by multiple ministries regarding the proposed changes was presented during the meeting
The sectors focused on the meeting were electronics, electrical appliances, textiles, oil and gas, nuclear energy, iron and steel, petrochemicals, manufacturing subway cars, and importing Egyptian agricultural products.
The solar energy project will be implemented in two phases and has already secured a cooperation agreement with the Ministry of Electricity. Funding for the project will be sourced from renowned international financial institutions.
The two wind energy projects are set to have a combined capacity of 8 gigawatts with foreign direct investments estimated to reach $9 billion
This agreement is a result of the continuous collaboration between the Egyptian Customs Authority and the State Customs Committee of Belarus.
This announcement was made during Madbouly's participation in the opening session of the World Economic Forum in Riyadh, where he represented President Abdel Fattah El-Sisi.
Egypt’s Prime Minister Mostafa Madbouly said the current developments in relations between Egypt and Bahrain are “very distinguished”, noting that those relations are of great interest for the two countries’ leaderships.
This came during the meeting with Prime Minister, Mostafa Madbouly to follow up on the company’s recent developments.
The agreement aims to establish a specialized free zone dedicated to petroleum production, as stated by the Cabinet.
Prime Minister Dr. Mostafa Madbouly said that commodity prices in the local market are being closely monitored through the price control committee
To further this objective, a recent meeting was held, bringing together leaders and representatives from export councils.
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
He emphasized the significant role these funds play in advancing the Egyptian government's efforts to promote financial inclusion.
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
Rahmy further highlighted that MSMEDA provided an additional LE 141 million in grants for various initiatives such as infrastructure projects, community development, and training during the same period.
The objective was to discuss these criteria with the respective ministers before their submission to the cabinet.
The Prime Minister commended major international companies that have established factories of the highest standards within a remarkably short period.
During the meeting, the Prime Minister emphasized the urgent need to expedite customs procedures to release goods and merchandise at various Egyptian ports. This measure aims to boost the supply of essential commodities, manufacturing inputs, and medicines in the Egyptian market.
Upon arriving at the factory, the Prime Minister emphasized that any new investments or expansions from the private sector are a strong addition to the Egyptian economy, as these investments provide significant employment opportunities and offer high-quality products that meet the needs of the local market, a stance strongly supported by the government to encourage more investment in the upcoming period.
