prime minister
The meeting emphasized the importance of injecting investments into multiple sectors and highlighted the potential for capitalizing on the available opportunities within the Egyptian market.
In an official statement, Madbouly also stated that Egypt is working with the UAE to waive an Emirati deposit of $6 billion in the Central Bank of Egypt (CBE) and convert it to Egyptian pounds
This project is part of the memorandum of understanding signed during COP27 in Sharm El Sheikh in November 2022 between the alliance, the Egyptian Electricity Transmission Company, and the New and Renewable Energy Authority.
Egyptian Prime Minister, Dr. Mostafa Madbouly, chaired Wednesday the weekly cabinet meeting, at the government headquarters in the New Administrative Capital, where a number of important work files were discussed and reviewed.
The primary objective of the meeting was to bolster the sector's exports in the upcoming period, as emphasized by Madbouly.
The objective is to increase the private sector's contribution to the state's total investments to 65 percent.
The Egyptian government is committed to paving the road for more contributions from the private sector, the prime minister stated
The protocol encompassed a wide range of areas, with particular emphasis on emerging media technologies and cutting-edge advancements.
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.
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.
Furthermore, the Cabinet has also approved Prime Minister, Mostafa Madbouly's draft decision to create an investment zone in Ras El Hekma.
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.
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
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