AUTOMOTIVE-

Chinese auto manufacturer Dayun eyes expanding Egypt operations: Dayun Guangzhou — whose motorized tricycles and motorcycles are familiar sights on Egyptian roads — wants to expand its range of vehicles assembled here to also include passenger cars, light transport vehicles, along with trucks, Dayun Vice President Yuan Wusheng said according to an SCZone statement. The company intends to have its locally assembled passenger car be an EV.

Localization is the name of the game: The company’s expansion plans involve establishing new production lines and expanding the percentage of local components used and availability of locally made spare parts.

EXPANSION-

New details emerge about Raya CX’s upcoming UK venture: Raya Holding subsidiary Raya Customer Experience’s (Raya CX) newly announced UK arm — that we reported on yesterday — will be an investment arm and will launch in the first half of 2025, Al Mal, citing an unnamed source it says has knowledge of the matter. The new entity will be entirely funded by Raya CX and is expected to raise its FX revenues by more than 70%, according to the source. It has still not decided how much will be used as an initial investment for the company.

LOGISTICS-

#1- Implementation of the first phase of the Dekhila dry bulk terminal superstructure will reach USD 50 mn, including supplying the essential operational equipment and completion of the remaining works, Al Mal reports, citing sources it says have knowledge of the matter. The terminal will be implemented in three phases, with operations expected to begin in the second half of 2025.

Remember: A consortium of four local private and state-owned firms — Mediterraneo Egypt, LattTrading and Shipping, an Elsewedy company, and the Transport Ministry’s Holding Company for Maritime and Land Transport — signed an agreement on Monday to invest USD 450 mn to build, operate and manage the dry bulk terminal.

#2- Cairo 3A will build a EGP 60 mn, 15.3k sqm dry bulk warehouse covering at Damietta Port to increase their storage capacity, Al Mal reports, citing an unnamed source it says has knowledge of the matter. The project — set to be completed in 2025 — is the second of its kind in Damietta port this year, with the ongoing construction of a vegetable oils storing warehouse.

REAL ESTATE-

Midar closes in on agreements with Gulf investors: Midar Investment and Urban Development will likely soon sign two agreements with Gulf investors to develop two mixed-use 1.5k feddan projects in the company Mada City development, under a revenue-sharing model, an anonymous company official told Asharq Business. The cost of the projects or the timeline and names of the investors were not revealed.

DEVELOPMENT FINANCE-

Egypt launched a new national financing framework in collaboration with the UN to aid in achieving sustainable development goals, according to a Planning and International Cooperation Ministry statement released during the UN Summit of the Future. The Integrated National Financing Strategy will aim to increase sustainable financing to minimize funding gaps and investment risks. To realize this, Egypt will establish cost estimates for realizing SDGs, foster public-private partnerships, and support the green banking system, Egypt’s Minister of Planning and International Cooperation Rania Al Mashat said.

DIGITIZATION-

Supply Ministry studying proposed exceptions under merchant license digitization drive: Five regional chambers of commerce submitted a proposal to Supply Ministry calling for merchants to be exempt from converting their paper license into a digital one if they can prove that they can meet the new requirements to get the license — including, fitting CCTV, industrial health and safety measures, fire protection measures — Al Mal reported, citing unnamed sources it said were in the know. It was not specified how long the exemption they’re requesting is for.

They argue that will be a cheaper process for merchants, with the proposal that new conditions be added to the paper license expected to not exceed EGP 15k — a significant reduction from the EGP 30k-50k for the digital licenses that the government wants to properly implement in the beginning of 2025, the sources added.

HOSPITALITY-

Gov’t prepares EGP 1 bn Port Said governorate investment to support Holy Family trail tourism efforts: The government will invest EGP 1 bn to launch 1k hotel rooms in between the Al Farma archaeological site to the west of the Suez Canal, Al Arabiya, citing unnamed government officials. The initiative — which is expected to be invested in the last quarter of the year — is part of a wider effort to support the government’s promotion of Holy Family trail tourism.

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