Egypt allocates EGP 1bn to boost local automotive industry: Kouchouk
The Egyptian government has allocated EGP 1bn in its fiscal year (FY) 2024/25 budget to finance a strategy aimed at localising the automotive industry, according to Finance Minister Ahmed Kouchouk. The plan seeks to attract investment partnerships in car manufacturing
ETA launches first comprehensive tax services guide
The Egyptian Tax Authority (ETA) has launched its first comprehensive tax services guide, a major step toward simplifying procedures for taxpayers and supporting Egypt’s digital transformation strategy. Announced by ETA Head Rasha Abdel Aal, the guide provides a fully detailed
Egypt’s Health Minister meets EU delegation to discuss Gaza relief efforts
Egypt’s Deputy Prime Minister and Minister of Health and Population, Khaled Abdel Ghaffar, met with a European Union delegation led by Stefano Sannino, Director-General for the Middle East and North Africa, to explore ways to enhance cooperation in sustaining Egypt’s
Egyptian PM reviews green hydrogen and ammonia project proposal
Egypt’s Prime Minister Mostafa Madbouly chaired a meeting today to review a proposed green hydrogen and ammonia production project in the Gulf of Suez. Cabinet Spokesperson Mohamed El-Homsani said the meeting focused on several aspects of the “Green Fuel Alliance”
FRA approves new rules for Egypt’s settlement guarantee fund
Egypt’s Financial Regulatory Authority (FRA) has approved executive rules and procedures governing the operation of the Settlement Guarantee Fund, aiming to align with global best practices and bolster capital market financial stability. The rules and procedures were issued by the
Egypt’s Electricity Minister affirms commitment to stable power supply, renewables expansion
Egypt’s Minister of Electricity and Renewable Energy, Mahmoud Essmat, addressed the Senate on Monday, outlining the ministry’s ongoing efforts to ensure a stable, high-quality electricity supply and its future plans for the sector. He affirmed the government’s commitment to providing
Egypt unveils new oil, gas investment opportunities to boost production
Egypt’s Ministry of Petroleum and Mineral Resources has announced fresh investment opportunities aimed at enhancing exploration, production, and sustainability in the oil and gas sector. The ministry is offering access to seven undeveloped fields in the Mediterranean and six exploration
Gold Star Fashion invests $4.5m in garment factory at West Qantara
The Suez Canal Economic Zone (SCZONE) has signed an investment agreement with Chinese apparel manufacturer Gold Star Fashion to establish a garment production facility in the West Qantara Industrial Zone. The agreement, signed at SCZONE’s headquarters in the New Administrative
MSMEDA injects EGP 2.6bn to support over 95,000 small, micro projects in Qena
Basil Rahmy, CEO of the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), announced that the agency has provided EGP 2.6bn in funding for over 95,000 small and micro projects in Qena between July 2014 and December 2024. This initiative
CI Capital, Compass launch EGP 3bn C3 Fund to invest in EGX-listed equities
CI Capital Holding and Compass Capital for Financial Investments announced on Monday the launch of Egypt’s first onshore private equity fund, C3 Capital Fund 1, with a target size of EGP 3bn at final close. The fund is dedicated to