Egyptian National and Strategic Development Projects: News and Updates

[EgyptianAmerican]

Sheikh Mohammed bin Zayed meets with Egypt president Sisi in Abu Dhabi


The two sides agreed to concentrate efforts along with the international community in tackling extremism across the region and eliminating sub-state interference in the internal affairs of various Arab countries

Egyptian president Abdel Fattah El Sisi and Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, discussed combating terrorism and eliminating the financing of extremist groups at a meeting on Monday in Abu Dhabi.

The two sides agreed to concentrate efforts along with the international community in tackling extremism across the region and eliminating interference in the internal affairs of various Arab countries.

"The Emirati-Egyptian co-ordination has proved its hardness over the past years in facing various challenges in the region, foremost of which is the challenge of terrorism, which has become a serious global threat that cannot be tolerated,” Sheikh Mohammed bin Zayed said to UAE state news agency Wam.

Combating this threat “calls for a serious Arab, regional and international stand to face this threat, that targets everyone without exception”, he added.

Mr El Sisi stressed Egypt's keenness to continue developing bilateral relations and co-ordination with the UAE at all levels on various regional and international issues.

The security of the Gulf states is an integral part of Egypt's national security, he said.

The visit reflects the "two countries’ keenness to consult one another on the current challenges faced by the region" which require "joining efforts to protect Arab national unity against attempts to destabilise Arab states and interfere in their domestic affairs", the Egyptian president added.

Mr El Sisi's discussions during his two-day visit to the UAE will focus on deepening relations and improving stability in the region, the Egyptian state news agency reported, quoting the president's office.

“The president will discuss with senior UAE officials the close bilateral relationship between the two countries, as well as consulting and co-operating on a number of issues including combating terrorism along with regional and international crises,” it said.

The visit comes after the UAE, Egypt, Saudi Arabia and Bahrain cut diplomatic and travel ties with Qatar on June 5, accusing Doha of supporting terrorism and extremism and trying to destabilise the region. The boycott has resulted in the worst diplomatic spat in GCC history.

The UAE and Egypt are also working to promote political stability in Libya, where the lack of a central authority has allowed extremist militant groups such as ISIL to gain a foothold in recent years.

Wael Al Sayed Mohammed Jad, Egyptian Ambassador to the UAE, said strategic relations between the UAE and Egypt are based on historic foundations.

Mr El Sisi's visit will also look to strengthen economic and commercial relations between the two countries, he told Wam.

According to the ambassador, the UAE is the leading foreign investor in Egypt, with the value of Emirati investments reaching US$6.2 billion (Dh22.8bn), while the value of the commercial exchange between both countries in the previous year reached $3.3bn, with $2.4bn accounting for Egyptian exports and $900 million for Emirati exports to Egypt.

There are further opportunities to develop these ties, he added.

https://www.thenational.ae/world/me...th-egypt-president-sisi-in-abu-dhabi-1.661446

The International Finance Corporation to Invest $150 Million in Agriculture in Egypt

The International Finance Corporation (IFC) has agreed to pump $US 150 million in direct investments in Egypt’s agriculture sector in partnership with the country’s private sector, Minister of Investment and International Cooperation Sahar Nasr said in a statement on Saturday.

Egypt’s President Abdel-Fattah El-Sisi met with the World Bank Chief Jim Yong Kim in New York on Thursday on the sidelines of the UN General Assembly meetings agreed on a deal to enhance cooperation between Egypt and the World Bank.

Nasr expressed her aspirations for further cooperation with the World Bank group and hopes to sign new investment agreements during the upcoming annual meetings of the Bank in Washington in October.

Earlier in July, the Egyptian Ministry of Agriculture Spokesman Hamed Abdel-Dayem told Reuters that the government aims to increase cotton production to hit 1.4 million qintars (160 kg) in the fiscal year 2017/2018, compared to 700,000 qintars a year ago.

On July 11, Egyptian President Abdel Fattah Al-Sisi also held a meeting with Prime Minister Sherif Ismail as well as the ministers of agriculture and trade and the public enterprise sector in order to discuss ways of boosting the famed industry.

Agriculture remains a significant contributor to Egypt’s economy contributing up to 14.5 percent of GDP and 28 percent of all jobs. Agriculture employs almost 45 percent of all women in the workforce.

The agriculture sector in Egypt is dominated by small farms which use traditional practices that do not comply with internationally recognized standards. For example, farmers tend to overuse and misuse agricultural chemicals and use outdated technologies and tools for land preparation, irrigation, and harvesting.

https://egyptianstreets.com/2017/09...o-invest-150-million-in-agriculture-in-egypt/


Egypt's El Gouna Film Festival shines with plural cultures: GFF director

by Mahmoud Fouly

HURGHADA, Egypt, Sept. 25 (Xinhua) -- Egypt's El Gouna Film Festival (GFF) aspires to be a destination of Arab and international movie stars and filmmakers, GFF Director Intishal al-Tamimi said in an interview with Xinhua.

Scheduled for Sept. 22-29 at the Red Sea resort town of El-Gouna under the slogan of "Cinema for Humanity," the GFF screens some 69 films from around 40 countries, including 16 feature films, 18 short films and 12 long documentaries, in addition to 19 films outside the official competition and four in a special program.

"The town is brightened by the festival and the earnest, high quality work and preparation, as it aspires to make the GFF a fixed annual gathering of Arab and international movie stars and filmmakers," said the GFF chief.

Tamimi, a 63-year-old Iraqi national and a well-known figure in the regional film industry, said that the GFF is so ambitious despite the challenges of lacking sufficient facilities and being held in a newly-constructed town with only three theatres specially built for the festival.

"There is not a large screening venue for the festival activities, so we initiated the idea of installing a large screen in the open air, facing the challenges of sound quality, convenient height and suitable seats," Tamimi continued, adding, "I believe we have succeeded in overcoming these challenges well."

Most of the GFF senior and junior organizers are young men and women, which Tamimi explained it was intentionally meant to cope with the novelty and ambition of the fast-expanding town of El Gouna, adjacent to world famous Hurghada resort city of Egypt's Red Sea province.

During the opening ceremony, the GFF awarded superstar Adel Imam, top comedian in Egypt and the Arab world, with the Career Achievement Award and it plans to honor international superstar Forest Whitaker at the closing gala.

"A festival does not honor an artist but it is the artist that honors the festival," Tamimi told Xinhua, stressing that the participation of distinguished Egyptian stars like Imam and Yousra, Arab stars like Hend Sabry and Hiam Abbass, and international stars like Whitaker and Dylan McDermott shows confidence in the festival and its staff.

"It asserts that the festival is heading in the right direction," he said.

The newly-born festival has opened with Egyptian movie "Sheikh Jackson" for promising filmmaker Amr Salama. It also screens the opening film of Spain's San Sebastian Film Festival "Submergence" for veteran German director Wim Wenders and Argentinean film "Zama" for auteur Lucrecia Martel that has recently been screened in Venice, New York, Toronto and London film festivals.

"More than 70 percent of the features screened at the GFF are two months old and they are all strong, modern and good movies," said the GFF director.

The GFF holds several cinematic activities to encourage young filmmakers and screenwriters including "Tayarah" workshop for online-based short films, which has received more than 700 short film projects that have been narrowed down to five before the festival kicked off.

Although the GFF is mainly funded by private sector sponsors with its main co-founders are two Egyptian business tycoons Naguib Sawiris and his brother Samih Sawiris, the Ministry of Tourism partly helped in the finance due to the event's assistance in refreshing the country's tourism sector that has been suffering over the past few years.

Tamimi, co-founder of Arab Film Festival of Rotterdam in 2001 and director of Arab programming at latest Abu Dhabi Festival, said that the GFF is not intended to be a competitor with Cairo International Film Festival, Egypt's major film gala that has been held since 1976.

He stressed that both are meant to enrich the cinema industry in the country.

http://news.xinhuanet.com/english/2017-09/25/c_136637047.htm

British trade delegation arrives in Egypt to explore new investment opportunities

UK Trade Envoy to Egypt Jeffrey Donaldson arrived in Cairo on Saturday, accompanied by representatives of various British companies, aiming to explore new investment opportunties in Egypt, the British embassy in Cairo said in a statement.



The delegation is looking to make investments in the key sectors of infrastructure, agriculture, healthcare and defence.

Fourteen companies are represented by the delegation, including London International Patient Services, Rolls Royce and Bombardier, with 70 percent of those involved being new investors in Egypt.

The embassy statement quoted British Ambassador to Cairo John Casson as saying, "It’s an exciting time to be welcoming a new generation of British companies that are looking for business opportunities here."

The delegation is due to attend several meetings with Egyptian officials, including Prime Minister Sherif Ismail, Chairman of the Suez Canal Economic Zone Mohab Mameesh, and the ministers of investment, housing, trade, transport and petroleum.

The British delegation is also expected to visit the new administrative capital and meet with the project's chairman Ayman Ismail.

"The recent reforms that have been implemented have brought about stronger economic growth in Egypt and this has heightened the interest of British companies in doing business with Egypt," said Donaldson.

As part of its plan to improve the investment environment, Egypt has been implementing an economic reform programme to close budget deficits and streamline investment laws. Last November, the government floated the Egyptian pound to push its value closer to real market level.

This visit by the UK business delegation was announced earlier this month.

In August, UK minister for the Middle East Alastair Burt visited Cairo for talks with Egyptian officials on British-Egyptian cooperation and UK support for Egypt, especially in economic and educational reform.

The UK is Egypt’s number-one foreign investor, with $43 billion of inflows and over 1,450 British businesses active. It is also a major investor in Egypt’s oil and gas sector, the statement says.

The British embassy said that British investment in Egypt has been growing recently, citing several examples. The British manufacturer SEWS opened a new factory in Egypt in August, while the British telecommunications company Vodafone has allocated EGP 2 billion to expansion in Egypt this year.

http://english.ahram.org.eg/NewsCon...ade-delegation-arrives-in-Egypt-to-explo.aspx

 

[The SC]

Egypt enters modern technologies from the big door ...

Egypt finally entered the fiber optic industry "the first Arab African Middle East nation to enter this era" and the fifth country in the world that manufactures optical fiber ..side by side with
Germany and Japan in fiber optic manufacturing..

- Egypt is also entering the era of Internet of things which is the technology of the next world to make Egypt become the fourth country in the world in the manufacture of internet of things..

- Egypt enters the era of technology in 7 technological zones manufacturing from needles to missiles ..

- Egypt is entering the era of industrial electrical transformers in the largest plant in the Middle East in the electrical Ain Sokhna in partnership with China ..

- Egypt is entering the era of manufacturing the optical communications components and “Making of a Chip” from Sand to Silicon with white sand which was forbidden for export ..

- Egypt enters the era of giant technology platforms, the largest platform in the Middle East in partnership with the UAE ..

- Egypt penetrates the space industry by launching 5 small satellites in 2017 and preparing for the launch of the first Egyptian space agency in a few months ..

- Egypt enters the gold minting industry in Marsi Alam by establishing the only city in the East, Europe and Africa to mint gold instead of gold travelling to Canada.. Egypt will thus become the hub of the region for gold minting.

- Egypt is entering the age of the automobile manufacturing industry and not only assembly, in the largest complex for car industry in the region of the Suez canal with many international brands seeking to set up factories in Egypt ..

- Egypt enters the era of of smart phones manufacturing in the largest factory for the smart phones with a Chinese partnership in 2017, in the region of Burj Al Arab ..

- Egypt exploits its treasure of black sand in the manufacture of missile and aircraft structures and the establishment of the biggest metal separation plant in the area of Al-Borlos.

- Egypt enters the industry of blades of wind turbines and solar panels in partnership with German companies ..

 

[The SC]

Egypt is among the top 9 countries in the export of IT services and software, according to the Gartner Global Report 2017

A recent report ranked Egypt among the top 9 major global locations in the export of IT services, software and communications services to Europe, Middle East and Africa.

In its summary of the report on Egypt, which ITIDA obtained a copy of, it outlined in a statement on Sunday the competitive advantages of the country as an attractive destination for the provision of cross-border services, Skills, competitive prices, and outstanding geographical location for EMEA operations, as well as English language proficiency with a neutral tone vis a vis most competitive countries.

The report pointed out the doubling of cross-border services in terms of volume over the past five years, through multinational, multinational and regional companies from Egypt to more than 100 countries.

The report attributed the growth of the ICT sector to the ongoing investment in infrastructure and efforts to eliminate the business bureaucracy, which includes the 2016 reforms to facilitate the establishment of companies and transactions with all types of investors.

The report also focused on the low cost of Egyptian labor in a highly competitive manner. The costs of exporting services to the outside world have declined, especially with the depreciation of the pound against the dollar. Gartner estimated that the software developer in Egypt gets between $ 5,000 and $ 7,000 per year .

http://www.almasdar.com/69107

 

[EgyptianAmerican]

Egypt keen to apply quality standards in all sectors to enhance Egyptian products competitiveness: Kabil

Preparation of 228 new standards, 751 inspection campaigns on the factories, analysing 4,835 testing samples

Minister of Industry and Trade Tarek Kabil said that Egypt is keen on applying international quality standards to enhance the competitiveness of Egyptian products and services across all sectors.

This came following the receiving of three detailed reports on performance indicators of the Egyptian Organisation of Standardisation and Quality, the Industry Control Authority, and the Chemical Administration last August as part of the monthly follow up of the implementation stages of the Egyptian quality system.

He pointed out that the ministry is restructuring the national quality system.

Moreover, he pointed to the establishment of the National Council for Industrial Quality Assurance to be the national reference of quality Egyptian industries follow, including all the aspects of the quality standards’ structure. This is besides the accreditation, conformity, and standard specifications.

In the same context, the chairperson of the Organisation of Standardisation and Quality, Ashraf Afifi, said the authority conducted a periodic inspection on the quality mark of 59 companies.


Meanwhile, the authority confirmed the compliance of the quality specification of four companies applying for the quality mark.

He added that the authority conducted 11 visits to companies that already have the quality mark.

About 300 international certificates were registered in the Organisation of Standardisation and Quality, in addition to the preparation of 228 new standards ready for accreditation, according to Afifi.

In the field of testing and industrial calibration, Afifi pointed out that the Organisation of Standardisation and Quality conducted 1,211 measurements and 6,306 tests.

Chemist Ibrahim Elmanasterly, the head of the Industrial Control Authority, said that the authority made 751 field inspections last August.

The field inspection includes the withdrawal of samples and taking the required legal procedures through the inspection to ensure factories are applying the quality standards to their products.

In another context, he pointed out that the authority received 410 inquiries and 261 complaints from citizens.

Meanwhile, Magdy Fahmy, the head of the Chemical Administration, said the authority carried out tests and laboratory analysis for 4,835 samples last August.


https://dailynewsegypt.com/2017/09/...ance-egyptian-products-competitiveness-kabil/

Egypt on Track for Year-End IMF Payment, but 32 Percent Inflation a Worry

CAIRO — Egypt has made a "good start" to its reform programme despite seeking waivers for missing targets in June and a deeper-than-expected currency depreciation, the International Monetary Fund said on Tuesday.

It should get its $2 billion (1.49 billion pounds) IMF loan payment after the year-end review, the Fund said, but inflation -- running at just under 32 percent in August -- remains the key risk for stability.

Egypt agreed a three-year, $12 billion IMF loan programme in November that is tied to sweeping reforms such as spending cuts and tax hikes.

They are designed to help revive an economy hard hit by a shortage of foreign currency and investment in the turmoil that followed its 2011 uprising.

In a review since the deal, the IMF said Egypt should receive a third loan instalment of around $2 billion after a second check of progress at the end of this year, but indicators pointed to progress and consolidated economic growth.

"Stabilization is already gaining a foothold, and we have seen positive trends," Subir Lall, IMF mission chief for Egypt, Middle East and Central Asia, said in an online briefing.

"This is a very ambitious programme. It takes time to work, but it's well-calibrated and over the course of this economic programme of three years, we should definitely be seeing the payoff."

The IMF has already approved $4 billion in loan instalments, most recently releasing $1.25 billion for Egypt.

Inflation, however, reached three-decade highs in July after fuel price hikes under the IMF deal. It has since dipped a bit although high costs have hit many Egyptians hard in the import-dependent state. Since the Egyptian pound was floated last year, the currency has roughly halved in value.

Lull said Egypt's inflation is expected to fall to "slightly above" 10 percent by the end of fiscal year 2017/2018 and to single digits by 2019


Annual urban consumer price inflation dipped to 31.9 percent year-on-year in August from 33.0 percent in July, according to the official CAPMAS statistics agency. Core inflation, which strips out volatile items like food, decreased to 34.86 percent from 35.26 percent, according to the central bank.

The finance minister last week gave a more cautious outlook saying he expects inflation to drop below 15 percent by the end of the 2017-2018 fiscal year.

"The inflation target of 10 percent by June 2018 seems optimistic. We agree more with the (Central Bank of Egypt's) target of 13 percent (+/-3 percent) by the end of 2018," said Radwa El Swaify, head of research at Pharos Securities Brokerage in Cairo.

In a statement earlier, the IMF said Egypt's transition to a flexible exchange rate went smoothly with the parallel market disappearing and central bank reserves increasing significantly.

Foreign currency shortages hampered the country's ability to purchase abroad, creating a black market and slowing economic growth. But foreign reserves have been recovering since the currency float, rising to $36.14 billion by the end of August. They rose $4.73 billion between June and July alone.

"Market confidence is returning and capital flows are increasing. These augur well for future growth. The authorities' immediate priority is to reduce inflation, which poses a risk to macroeconomic stability," the IMF said.

It said it had agreed to a request for a waiver after Egypt missed primary fiscal balance and fuel subsidy bill requirements for end-June. The waiver was granted in part because of planned strong fiscal adjustments in the next two years.

The IMF said the country's current account deficit was seen narrowing to 4.6 percent of GDP in 2017/18 fiscal year and to 3.8 percent in 2018/19. It said it primary fiscal deficit seen at 1.8 percent of GDP, exceeding the programme target of 1 percent.

(Reporting by Patrick Markey and Arwa Gaballa Editing and Graphics by Jeremy Gaunt)

https://www.nytimes.com/reuters/2017/09/26/business/26reuters-egypt-economy-imf.html

Egypt: July oil and gas output hit 6.1m tons – report

Egypt’s production of oil and natural gas reached 6.1 million tons in July 2017 compared to 5.5 million tons in July 2016, state official statistics body (CAPMAS) said on its monthly bulletin on Tuesday.CAPMAS added that the local consumption of oil and natural gas also saw an increase of up to 6.8 million tons year-on-year in July, up from 6.7 million tons, while the consumption of other petroleum products decreased to 2.92 million tons compared to 3.27 million tons.

On the other hand, CAPMAS noted that the imported volumes of Butane gas also leveled up to 167,200 tons from 165,200 tons in July 2016.

As for diesel oil, July 2017’s production hit 617,000 tons with a consumption of 1.165 million tons, compared to 556,000 and 1.176 million tons in the same period of the previous year.

https://journalducameroun.com/en/egypt-july-oil-and-gas-output-hit-6-1m-tons-report/


Suez Canal chief says Mercedes-Benz to establish new facility in economic zone

CAIRO (Reuters) - Mercedes-Benz is set to return to Egypt with a 50,000 square meter distribution facility in the new economic zone near the Suez Canal, Suez Canal Authority Chairman Mohab Mamish said on Tuesday.

The Suez Canal Economic Zone, a mega-project launched in 2015 to create an international hub for global manufacturers along the canal, is expected to eventually make up about a third of the country’s economy.

A Mercedes spokesperson was not immediately able to comment on the agreement about a distribution center -- although she said no decision had been taken about starting local production of passenger cars in Egypt.


“Mercedes is continuously examining conditions in all markets and regions with a view to market growth and sales prospects and adjusts it’s market strategy accordingly,” the spokesperson said.

Mamish said the new facility it would also be a logistical redistribution center that will service local and regional markets.

He was speaking at a news conference following a meeting attended by Prime Minister Sherif Ismail and the company’s regional director.

Egypt has been on a drive to reform the economy and lure back foreign investors who fled after the 2011 uprising.

It enacted a new investment code which is expected to boost badly needed investment by cutting bureaucracy, especially for starting projects, and providing more incentives to investors looking to put money into Egypt.


The zone will be eligible for these new incentives.

Mercedes-Benz ended local production of passenger cars in Egypt in 2015 over fears that free trade agreements the country signed with the EU would make assembly not profitable in the long run.

http://www.reuters.com/article/us-d...-facility-in-economic-zone-idUSKCN1C12RX?il=0

Egypt’s Imports to UAE Increased by 125%

In the light of the upcoming official meeting between Egypt and the UAE, the Minister of Trade of Egypt, Tarek Kabil, has confirmed that the bilateral relations are ”close and strategic”, benefiting both countries alike. The President of Egypt, Abdel Fattah Al-Sisi, accompanied by other government officials is heading to the UAE to review the areas of common interests and discuss the relations between Cairo and Abu Dhabi.

According to the data by the Ministry of Trade, the Egyptian export to the UAE has marked a significant growth during the first half of the year, reaching USD 1.204 billion, 7% up from the same period last year. In addition to that, the trade surplus in favor of Egypt was USD 735 million, compared to USD 685 million in 2016.

The Minister said the UAE has not hesitated to support the Egyptian economy during the last phase, pointing out that the UAE’s support was reflected in the form of a large number of development projects in the basic economic sectors.

The numbers have also shown that the Egyptian exports in 2016 exceeded the record of USD 2 billion for the first time. The Egyptian imports from the UAE declined by 25%to reach USD 908 million in 2016, down from USD 1.218 billion in 2015. Cairo mainly exported electrical appliances, fruits, vegetables, pharmaceuticals, food, and more. According to the trade minister, the significant increase was due mainly to two facts – the continuous effort of the government to promote local production and its high quality, that makes it highly competitive in the UAE markets.

Kabil also highlighted that the UAE was a leading investor in the Egyptian market, with investments valued at USD 6.2 billion in 868 projects in diverse fields – from telecommunications to tourism, and banking. The Minister also announced one of the latest joint initiatives of Cairo and Abu Dhabi – producing of self-destroying syringes and a real estate project with 30,000 units.


https://www.startupmgzn.com/english/news/egypts-imports-to-uae-increased-by-125/

 

[The SC]

Details of the new Port Said layout as the first million inhabitant city in Sinai ​

Sada Al-Balad was able to see the planning of the new million inhabitant city east of Port Said, including the social and medium class housing buildings.

The new million city or the so-called New Port Said is a million inhabitant city like the "New Capital - the New Alamein - the new East Port Said -the New Mansoura".

The new Port Said is the first million city in the Sinai and it is a smart city with the latest monitoring methods and the latest emergency systems.

The city provides 185,000 permanent jobs and planned to be a world-class tourist city competing with its peers in the region. The city includes international hotels, industrial islands, a fashion city and a university.

The city also includes tourist accommodation, green areas, an open beach, Disneyland, recreation areas and Universal Studios.

The city planning include a medical city, an international yacht marina, giant malls, hotel police departments, international hospitals and helipads.

The planning also include the construction of the largest seawater desalination plant in Africa, tourist resorts, a business center, an international research center, an international conference and exhibition center, an Olympic city, a golf club and a Formula One racing circuit.

The port city is located on an area of 19 thousand feddans (91,2 sq km) on the east coast of Port Said, where the largest consulting offices in Egypt has planned the city on the basis of the sustainable city and clean energy. It is to be used as support to the region of the Suez Canal axis and one of the driving forces of economic growth.

The city is planned to be a link between the eastern province of the city and its western region connecting the whole city by a road network and a railway line and through the tunnels.

A number of national, tourist and economic projects will be implemented to make the new Port Said become a tourist and international city receiving investments and implementing international projects.

Source: «صدى البلد»

 

[Gomig-21]

Gartner estimated that the software developer in Egypt gets between $ 5,000 and $ 7,000 per year .

Imagine that? Hopefully that will change in time ISA.

Lull said Egypt's inflation is expected to fall to "slightly above" 10 percent by the end of fiscal year 2017/2018 and to single digits by 2019

From 30% to 10% in about a year's time is very ambitious. Let's hope it works out just like that. Floating the pound was a huge gamble by Sisi and not sure he had any other choice but if it works, it'll be incredible.

 

[The SC]

Imagine that? Hopefully that will change in time ISA.



From 30% to 10% in about a year's time is very ambitious. Let's hope it works out just like that. Floating the pound was a huge gamble by Sisi and not sure he had any other choice but if it works, it'll be incredible.

"Who Dares Wins"

Not only Sissi, but the Whole of Egypt is working on these projects.. one can be sure that the best Egyptian brains in every field are working on it.. be it the inflation or any other might be obstacles.."Iza A sha'bo yawman Arada Alhayat.. flaboza an yastajyba al qadar"

P.S: $ 7000 a year is 126 000 Egyptian pound (at current 18 pounds for $1).. $10 000 will be better, but hey, some sacrifices are necessary just to make it go up to $15 000 or $20 000 a year in the near future..

 

[The SC]

The Russian astronaut Sergei Ryazanski posted a picture of Egypt at night through his Facebook account..

 

[The SC]

An Egyptian-Japanese integrated complex for refining and petrochemicals in the Suez channel development Area​

The report indicated that the detailed feasibility study for the complex is scheduled to be completed by the end of the first quarter of 2018 and put it on the production map in 2021 by producing about 3.5 million tons per year of petroleum products in addition to producing about one million tons of petrochemical products "polypropylene and ethylene derivatives" The complex will consume about 5 million tons of crude oil per year, most of which will be supplied by the production of the existing refineries in the Suez region, as well as the necessary facilities. A part of its production will be allocated to cover the needs of the local market and export the rest to international markets to increase the economic return of this giant project on the state.

The report also pointed to the Japanese company's keenness to cooperate with the Ministry of Petroleum to complete the work of the project according to specific timetables, especially as the complex is the only project of its kind in the Canal area. It will transfer new expertise and technologies to the petrochemical industry in Egypt and Add to its advanced expertise in this vital industry with the added value of natural wealth and economic returns.

 

[The SC]

Technology Pyramid

The Technology Pyramid is a technology park that will constitute the area of confluence between R&D and the market. The pyramid has two primary functions. It will provide gifted graduates and technology entrepreneurs the opportunity to incubate and develop new technologies and industries. Zewail City of Science and Technology will provide some financial assistance and appropriate space on a contractual basis to enhance the level of entrepreneurship and aid in the establishment of new industries.

Equally important, the Technology Pyramid will provide opportunities for research cooperation with various sectors of technologically advanced industries. Many of these will have a presence at Zewail City, especially those that are of mutual benefit in R&D. Such services will help build a technology base and, just as importantly, retain gifted young people in the country. In the long term, the Pyramid should generate, through joint agreements, a considerable source of income for Zewail City.

By establishing the nanotechnology and nanoelectronics centers, the city is reinforcing the link between scientific research and the market through the Technology Pyramid. Zewail City is currently working on the recruitment of scientists specialized in other industries such as communications and information technology and modern agricultural technology.

https://www.zewailcity.edu.eg/main/index.php?lang=en

 

[The SC]

Learn about 3 giant projects awaiting Alexandria in 2017

The governorate of Alexandria is witnessing a number of important and vital projects that serve the citizen of Alexandria, including tourism, traffic and other projects related to solving sewage crises in a number of areas of the governorate. These projects are of direct interest to President Abdel Fattah al-Sisi. He has held many meetings with the ministers to follow up on the problems experienced by the province, and to identify the projects that will work to solve them.

The most important projects to be witnessed in 2017, the birth of the project, "Tulip Sea Square", a recreational complex, on the Corniche road extends from the area of Sidi Gaber to Rushdie area, and includes the work of a tourist complex on the beach, In front of the beach, Kubri connects the project to the opposite side, through an isolated upper path, in addition to a tunnel connecting the tourist complex Mustafa Kamel with the hotel in Rushdi area, due to be completed in 2017.

On the project, Major General Reza Farahat, Governor of Alexandria, said that he will provide new jobs for the people of the governorate, along with thousands of other opportunities that will be provided by the Alexandria Development Project, which is currently being worked out with the Ministries of Defense and Housing and the governorate of Alexandria, involving international consulting offices to develop an integrated plan before the presentation to the President to launch the first stages of implementation.

...

Farahat pointed out that the most important project in terms of traffic will be the project of the "Suspended Tram ", which is expected to be started in cooperation with a French company.

http://www.elbalad.news/2602675

 

[EgyptianAmerican]

Orascom, FCC Aqualia partner in mega water project in Egypt
Global engineering and construction contractor Orascom Construction has partnered with Spain’s FCC Aqualia to construct a US$320 million wastewater treatment plant in Egypt, The National reports.

The two firms will jointly construct the Abu Rawash wastewater treatment plant in the North African country that is expected to serve 6 million people.

“This award confirms our ability to continue to secure quality contracts and underscores our strategy to focus on water-related projects, such as our two recently-signed water desalination plants, due to the strategic need of this sector in Egypt,” said Osama Bishai, chief executive of Orascom Construction.

The facility will have the capacity to turn 1.6 million cubic metres of wastewater per day into potable water, using primary and secondary treatment units.

The companies said that the plant will be constructed over phases taking just over three years. The joint venture will also be in charge of operating and maintaining the Abu Rawash plant.

This isn’t the first time the companies have partnered. Orascom Construction and Aqualia New Europe also own and develop the New Cairo wastewater treatment plant. This was Egypt’s first public-private partnership, which treats 250,000 cubic metres of wastewater per day.

Water requirements in the country are rising as a result of population and industrialisation.

The Arab world’s most populated country has limited supplies and wastewater is typically highly contaminated.

Treated domestic sewage is reused for irrigation, but the increasing demands for domestic water are placing pressure on the amount of sewage available for reuse.

Egypt’s water and irrigation ministry estimates that the total quality of reused treated wastewater was about 0.3 billion cubic metres in 2013.


http://cceonlinenews.com/2017/09/17/orascom-fcc-aqualia-partner-in-mega-water-project-in-egypt/


ITFC, ILO partner to support Egypt’s industries

UNDER the umbrella of the Aid for Trade Initiative for Arab States (AfTIAS) Program, Nasser Al-Thekair, GM Trade & Business Development on behalf of Hani Salem Sonbol, chief executive officer of the International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IDB) Group, signed a partnership agreement with Christophe Perrin, deputy director general for operations and partnership, of the International Labour Organization (ILO), for the implementation of the 2nd Phase of “Strengthening Skills for Trade and Economic Diversification- STED” in Egypt.

The signing took place during the closing session of the “Youth and Employment in North Africa” Conference on the sidelines of the WTO Public Forum 2017 in Geneva.

The two organizations partnered together in 2015 on the implementation of the first phase that has been successfully implemented in Tunisia and Egypt. This new agreement builds on the success of the first phase and meets the request from Egypt to support capacity building of the newly established Food Safety Authority, in particular its training function, and to upgrade training curricula for the furniture sector.

On the occasion of the signing, Al-Thekair said, “I am pleased with our successful partnership with ILO to work on such important programs like STED.”

“ITFC believes that providing trade support that contributes to expanding employment opportunities, especially for young people, is at the core of our developmental mandate. We will work together with ILO to help close skill gaps and increase opportunities for trade and economic diversification in Egypt,” Al-Thekair added.

In Egypt two export sectors have benefited from the STED analysis in 2014, namely the wood and furniture sector and the food processing industry. The newly established Food Safety Authority will require considerable capacity building of their staff to fulfill its mission. In addition, the furniture sector has been identified as a priority sector in the newly launched Industrial Development Strategy of the Ministry. STED will provide the support to achieve growth and decent employment creation, which in turn will increase exports and to contribute to the socio-economic development. — SG

http://saudigazette.com.sa/article/518231/BUSINESS/Egypt

Egypt, Armenia hold first cooperation committee meetings since 2005

Egypt and Armenia have kicked off a new round of talks on economic and technical cooperation for the first time in over a decade, Egypt’s foreign ministry said on Wednesday, Ahram Online reports.

Experts from the two countries met in the Armenian capital of Yerevan to begin the fifth round of a bilateral cooperation committee, Egypt’s ambassador to Armenia, Tarek Maaty, said in a statement issued by the foreign ministry.

The committee was last convened in Cairo in 2005.

The talks are especially important as they highlight “the determination of the two sides to push forward economic, trade and technical cooperation,” the statement added.

A number of agreements are expected to be signed on bilateral cooperation.

Armenia’s President Serzh Sargsyan has said he looks forward to a visit by Egyptian President Abdel-Fattah El-Sisi to the country, Maaty said.

Foreign Minister Edward Nalbandian also renewed his invitation to Egyptian counterpart Sameh Shoukry to visit Yerevan, the Ambassador said.

In July, Egypt and Armenia launched a regular flight connection between the two countries, as they celebrated 25 years since the signing of a 1992 agreement creating bilateral diplomatic ties.

The Armenian embassy in Cairo was opened in March 1992 and the Egyptian embassy in Armenia was set up almost a year later, according to the website of Egypt’s State Information Service

In 2015, Egypt’s Coptic Orthodox pope, Tawadros II, visited Armenia to commemorate the victims of the Armenian genocide.

http://www.armradio.am/en/2017/09/2...st-cooperation-committee-meetings-since-2005/


US pledges over $100 mln in cooperation agreements with Egypt: Ministry

Egypt and the US signed eight economic cooperation agreements worth $121.6 million to develop investment, education, health, agriculture and water management in line with Egypt's economic reform programme as well as the country's 2030 development plan.


Egypt's international cooperation and investment ministry said the agreements were signed between minister Sahar Nasr and director of the US Agency for International Development (USAID) Sherry Carlin at the ministry's premises in Cairo.

The agreements include a grant of $29 million to be disbursed periodically by 2022, with an initial disbursal of $6 million, for improving family planning and reproductive health.

The second agreement is a grant worth $50.8 million for supporting integrated solutions for water with the housing ministry and the Holding Company for Water and Wastewater.

The water agreement aims to increase the availability of potable water and improve its quality. It also aims to improve sanitation services, especially in rural areas, by establishing water plants, improving the methods of water treatment, replacing damaged pipelines, and building sewage systems.

One of the agreements allocates $13 million to enhancing the country's lower and higher education systems through support programmes, and allots $27 million for the US-Egypt Higher Education Initiative.

The agreement should help create more job opportunities for higher education graduates, as well as more scholarships for and partnerships with Egyptian higher educational institutions, according to the ministry.

The deal also sets $4 million to "broaden the scope of relations between scientific and technological communities in both countries, enhance scientific and technological cooperation for peaceful purposes and exchanging ideas, information, skills and technology of common interest," according to the ministry.

The agreements also allot $12 million to raise incomes and job opportunities for farmers in targeted communities in Upper Egypt (Beni Suef, Minya, Assiut, Sohag, Qena, Luxor, and Aswan) through increasing productivity, engaging farmers in global markets and focusing on new areas in agriculture.

A trade and investment promotion agreement worth $5.1 was signed to bolster the investment and trade environment, and specifically micro, small and medium enterprises.

Another agreement allocates $3.6 million for the ministries of justice and social solidarity as well as the National Council for Women and the National Council for Population to put into effect various initiatives in criminal justice, family justice and media development.

“These agreements reflect our strong and enduring partnership and the impact that our joint efforts have on the people of Egypt,” USAID's Carlin said, according to a statement by the US Embassy in Cairo.

The statement added that through cooperation with the Egyptian international cooperation and investment ministry, the two countries are "strengthening the cornerstones of stability and prosperity in Egypt."

Since 1978, the USAID programme has contributed nearly $30 billion in Egypt, according to the US envoy in Cairo.

According to investment minister Nasr, the agreement came as "an outcome of [President Abdel-Fattah El-Sisi's] meeting with his American counterpart Donald Trump in New York and what has been agreed upon regarding economic cooperation between both countries."

El-Sisi's meeting with Trump last week was the first between the two following an August decision by the US to withhold aid to Egypt, citing concerns over Cairo’s record on democracy and human rights.

Trump told reporters before the meeting that the US “will consider” resuming some of the suspended military assistance to Egypt.

Last month, Egypt described the US decision to reduce aid as a “misguided decision given the nature of the strategic relations” that have bound the two countries for four decades.

Egypt normally receives $1.3 billion annually in military assistance from the United States and nearly $250 million in economic aid.


http://english.ahram.org.eg/NewsCon...-over--mln-in-cooperation-agreements-wit.aspx

British trade delegation explores business opportunities in Egypt

The UK Trade Envoy to Egypt, Sir Jeffrey Donaldson, arrived in Cairo on Saturday with a delegation of UK companies seeking to explore various business opportunities in Egypt, the UK’s Foreign and Commonwealth Office (FCO) announced yesterday.

The delegation consists of 14 multi-sector British companies, including infrastructure, defence, healthcare and agriculture.

The companies include London International Patient Services, Rolls Royce and Bombardier, with 70 per cent of those involved being new investors in Egypt.

The delegation is due to meet with a number of Egyptian officials, including the Prime Minister Sherif Ismail, the Chairman of the Suez Canal Economic Zone (SCZone), Admiral Mohab Mameesh, as well as the ministers of investment, housing, trade, transport and petroleum.

They are also expected to visit Egypt’s new administrative capital and meet with the project’s chairman Ayman Ismail to discuss investments opportunities there.

“The recent reforms that have been implemented have brought about stronger economic growth in Egypt and this has heightened the interest of British companies in doing business with Egypt,” Donaldson said.

On his part the British Ambassador to Egypt, John Casson, hailed the UK’s “continuous” investments in Egypt saying that he is excited “to be welcoming a new generation of British companies that are looking for business opportunities here”.

According to the FCO, the UK is the number one foreign investor in Egypt, with over $43 billion of investment inflows this decade and more than 1,450 active British businesses operating in the North African country.

It is also a major investor in Egypt’s oil and gas sector, the statement says. The investments of the giant oil and gas company British Petroleum (BP) in Egypt have exceeded its investments globally.

In recent months the British manufacturer SEWS opened a new factory in Egypt in August, while the world’s biggest British telecommunications company Vodafone has allocated EGP 2 billion to expansion in Egypt this year.

Egypt has been implementing an economic reform programme to close budget deficits and streamline investment laws, in an attempt to improve the investment environment. Last November the government floated the Egyptian pound to push its value closer to real market level.

https://www.middleeastmonitor.com/2...ion-explores-business-opportunities-in-egypt/

Government likely to sign Dabaa nuclear power plant deal in October

The Egyptian presidency has studied the possibility of signing the contracts for Dabaa nuclear power plant along with the opening ceremony of opening new Alamein city in October 2017, anonymous sources in the Egyptian government said on Wednesday.


The sources added that the ministries of Housing and Investment will celebrate with the 75th anniversary of the Second World War battle of Alamein in the presence of senior officials from the countries which participated in the battle.

The Russian president Vladimir Putin is anticipated to attend the ceremony which, in addition to signing the contracts of nuclear plants, will witness a presentation on the repercussions of war such as laying huge numbers of land mines in Alamein city.

Sources at the Ministry of Electricity hinted that the Egyptian and Russian governments will sign a further four contracts which include, first, a principal contract for supplying and installing nuclear reactors; second, a contract for supplying nuclear fuel for the operation of nuclear plants; third, a contract for nuclear waste disposal; and fourth, a contract for organizing the operation of nuclear reactors and maintaining them.

Meanwhile, the Ministry of Electricity and Nuclear Power Plants Authority (NPPA) met with a committee from the State Council to revise the contracts of the nuclear power plant. The meetings aim to explain the technical aspects in the contracts to the State Council’s counselors.

The Dabaa nuclear power plant will include four Generation III nuclear reactors which comply with international security and safety standards, the governmental sources revealed.

http://www.egyptindependent.com/government-likely-to-sign-dabaa-nuclear-power-plant-in-october-2/

 

[The SC]

Egypt mulls establishing largest petrochemical complex in Middle East
Source: Xinhua | 2017-07-20

Egypt says on July 19 to build largest petrochemical complex in the Middle East. A huge Liquefied Natural Gas (LNG) tanker DUHAIL passing through the Suez Canal, Egypt. (Reuters Photo)

CAIRO, July 19 (Xinhua) -- Egypt's Suez Governor Ahmed Hamed had talks Wednesday with a petrochemical investment firm on the establishment of the largest petrochemical complex in the Middle East, the state-run MENA news agency reported.

Former petroleum minister Osama Kamal, the project's consultant, said the 10.5 billion dollar complex will be set up in three areas in el Ein el Sokhna.

The construction of the complex will start in the first quarter of 2018 and will last for four or five years, he said.

The complex will create 3,000 direct jobs and 20,000 indirect jobs, he said.

The project is meant to cater for local market needs of petrochemical products and secure needed row materials for the current and future petrochemical projects in the Suez Canal axis in addition to exporting the surplus, Kamal said.

http://news.xinhuanet.com/english/2017-07/20/c_136456827.htm

 

[The SC]

Russian delegation arrives in Cairo within days to coordinate with the government before signing the Dabaa nuclear plant deal
https://alborsanews.com/2017/09/30/1054639
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According to the Russian news agency Sputnik, The director of Russian nuclear firm Ross Atom, Alexei Lechachov said on Tuesday that his company plans to build the Dabaa nuclear plant in Egypt this year.
"This year we are planning to start the full implementation of the project," Lechachov told reporters.

Government sources said that the presidency will hold a large ceremony to sign contracts for the construction of the nuclear station in the presence of the presidents Abdul Fattah al-Sisi and Vladimir Putin, attended by a high-level delegation from Russia and a large number of public figures and opinion leaders.

The sources added that the date of the signing of the contracts and the ceremony depends on the schedule of the commitments of Russian President Vladimir Putin, but is expected to be done within two months.

https://alborsanews.com/2017/09/23/1052755
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The signing of the final contract for the nuclear station in October 2007

An official source at Al Dabaa nuclear plant said that the final contract for the plant will be signed before the end of 2017, pointing out that Rose Atom does not prefer to announce in advance the closing dates of contracts.

The source added - in special statements to «Gate News Today» - that Matrouh province, is preparing for the signing ceremony of the final Dabaa contracts, of which the presidency oversees the final arrangements. The ceremony is proposed to be held inside the «Dabaa» site or at the «Mohammed Najib Military base », all guests of the celebration will be hosted in a number of tourist villages in the northern coast.

The governorate of Matrouh is equipping roads, traffic hubs and some hotels and tourist villages to receive guests and preparing lists of invited guests to attend the celebration, which it has sent to the security authorities long enough before the celebration.

http://akhbarelyom.com/news/newdetails/2538997/1/مصدر-توقيع-العقد-النهائي-لمحطة-الضبعة-النووية-أكتوبر-20.html

 

[The SC]

Twenty-one international companies will start to work in Sukhna in January. China is setting up the largest textile complex in the world at a cost of $ 6 billion

http://www.ahram.org.eg/News/202405/5/615803
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Development of 92 km in partnership with the International ports of Dubai and linking the project to the administrative capital

...
The project will be linked to the new administrative capital, and the land will be allocated to the usufruct system. There will be a communal life, while connecting the area with a railway line that starts from Alexandria and cuts through the Ain Sokhna area.

The head of the Suez Canal Authority and Chairman of the General Economic Authority in Canal Region Mehab Mamesh pointed out that there will be no competition between the port of Dubai and the economic zone of the Suez Canal, noting that each has a market area of its own, and there is a desire of the Dubai Ports Authority to transfer the success story of to another more successful area.

He added that we are moving in two main directions in the region, first, to solve the problems of investors through which we send a message to the world that we can solve the problems of investment, and second, to attract new investments.

He pointed out that there is a great demand for investments in Egypt, pointing out that 105 projects submitted to invest in the economic zone, including projects already on the ground.

«الأهرام»
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Egypt: Electricity Ministry to Sign $2.2bn Wind Farm Deal with Vestas in May (2016)

The Ministry of Electricity and Renewable Energy plans to sign a memorandum of understanding (MoU) with the Danish company Vestas to build a wind farm in May worth $2.2bn.

A senior official in the ministry said Minister of Electricity Mohamed Shaker met with Denmark’s ambassador to Cairo and a number of officials from Vestas to discuss the company’s offer to build a number of wind farms with a 2,200 MW capacity.

The official, who spoke on condition of anonymity, told Daily News Egypt that the minister vowed to study the Danish offer and sign a MoU within four weeks.

Shaker also urged for the Danish company’s officials to present proposals to develop the Zafarana power station, which currently has 117 turbines producing 80 MW. The development and modernisation of the station will increase its efficiency and service ability.

The offer submitted by Vestas includes the establishment of wind farms with a total capacity of 2,200 MW. The first wind farm, which will have a capacity of 250 MW, is expected to be built as soon as the MoU is signed with the ministry.

According to the official, the investor will provide the required financing for the project, while the ministry will repay the company after the project’s completion.

The official added that Vestas has a number of banks in mind that could finance the project, including HSBC, EKF Denmark, Euler Hermes, IFU Denmark, DANIDA, and CDP Banco.

Vestas made a formal bid for the New and Renewable Energy Authority in June 2015 to establish wind farms in the area west of the Nile River, but the authority’s deals with Siemens delayed the agreement’s conclusion.

He explained that the planned project will be built on an area of about 1,600 sqkm. The study of wind speeds and bird migration as well as the topography of the land is expected to take 12 months.

New and Renewable Energy Authority chairperson Mohamed Salah Sobky said the authority is working on the establishment of new solar plants and wind farms in cooperation with the private sector through tenders, direct contracts or the feed-in tariff.

Sobky added that there are many promising investment opportunities in the field of renewable energy production, pointing out that the state’s discussions with the financiers, developers and investors give some sort of guarantee in the electricity production system so as to agree on the projects’ details before the implementation process.

Source: Daily News Egypt

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In a speech at the "Mok" conference held in Alexandria to encourage the investment in gas and oil exploration in Egypt
Chief executive of Italian oil company Edison: There are new geological layers with huge reserves in the Gulf of Suez, Western Sahara, Nile Delta and Eastern Mediterranean regions. There are areas with unexplored potential such as the Western Mediterranean region, where there are still more than one trillion barrels of Oil, the Nile Delta (About 232 trillion cubic feet of gas), Western Sahara (with unconventional sources estimated at 100 trillion cubic feet), Gulf of Suez (about 112 trillion cubic feet) and Upper Egypt (1 trillion barrels of Oil).

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Egypt to save millions of dollars with new grain control center

Egypt is expected to save hundreds of millions of dollars annually thanks to a US-based food security company which has opened its state-of-the-art Grain Command and Control Center.

Blumberg Grain’s Command and Control Center will begin monitoring the country’s wheat inflows.

The US firm will process and monitor approximately a quarter of the country’s local crop for the first time as well as its imports.

From this facility, we're able to monitor the 93 shouna that are being developed across the 20 governorates all throughout Egypt for the first phase of the shouna development project. *_Reuters_*

This new system of storage will replace the dilapidated facilities, known as the Shounas, which are used to store the country’s locally grown wheat.

“From this facility, we’re able to monitor the 93 shouna that are being developed across the 20 governorates all throughout Egypt for the first phase of the shouna development project,” David Blumberg, CEO of Blumberg Grain said.

As part of efforts to ensure food security, the project is part of the government’s initiative and is categorized as a national priority.

Dubbed Egypt’s Shouna Development Project, the North African country is expected to save about 2 billion US dollars within the next five years.

“Right now, we’re in the process of negotiating a contract for the phase 2 expansion. We are at the stage whereby, as long as we’re able to come to an agreement with the government by May 1st of this year, we should be able to reach our objectives, and the shared objectives of the government, to have all of the shouna completed with the Blumberg Grain aggregation processing centers by the harvest season in 2018,” Blumberg added.

Egypt is the world’s largest importer of wheat as the government spends billions of dollars on grain each year for a subsidized bread program.

The Blumberg Grain systems will reduce post-harvest loss in locally grown wheat from about 40 percent to less than 5 percent. The government buys about half of the country’s wheat production annually. Egypt begins its wheat harvest this month.

The project will also bring significant benefits to Egyptian farmers who will now be paid fairly. Farmers products will now be assessed correctly and accurate payment will be provided.

According to Blumberg, the Shouna Development Project will bring the highest levels of food security technology to Egypt and will make it the food security hub of the Middle East and Africa.

http://www.africanews.com/2016/04/1...ons-of-dollars-with-new-grain-control-center/