INFRASTRUCTURE-

More efforts to boost yacht tourism: The Suez Canal Authority (SCA) has rolled out fresh incentives and facilities for yachts passing through the waterway in a bid to promote yacht and marine tourism along the Red Sea coast — effective 1 November, according to a statement. Under the new guidelines, yachts over 300 tons will be able to join the direct ship convoy and bypass waiting at anchor in the Great Lakes, provided they meet the canal’s navigation regulations. Meanwhile, yachts under 300 tons will receive a 20% discount on return transit fees if they return from the Red Sea to the Mediterranean within 60 days.

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They also get docking discounts: Yachts docked for over 90 days at the Ismailia Yacht Marina will get a 20% discount on the transit fee for the trip, and smaller yachts docking at the authority's marinas in Port Said or Suez to complete transit procedures will enjoy a 50% discount on docking fees, as long as they don’t stay overnight or use services like electricity or water.

Remember: Egypt has been making moves to attract more yacht tourism — a lucrative source of FX — since the 2021 launch of its yacht tourism strategy, which saw the state update maps of all marinas nationwide, identify promising destinations that could attract more tourists, and set regulatory frameworks that unified the rules for establishing and operating marinas across the country.

ENERGY-

Egypt-Saudi electricity interconnection set to launch ahead of schedule: Egypt is expected to launch trial operations of the first phase of its USD 1.8 bn Egypt-Saudi interconnection project in April 2025 instead of May, Asharq Business reports, citing an unnamed government source. The first phase of the project — which will see 1.5 GW of the planned 3 GW come online — is set to be completed by June instead of July 2025.

MANUFACTURING-

The first made-in-Egypt EV battery is around the corner: The Arab Organization for Industrialization (AOI) is close to producing batteries for electric vehicles, Al Borsa writes, citing the chairman of AOI’s Kader Factory Amr Abdel Aziz.

The details: Last year, AOI signed a cooperation protocol with auto batteries manufacturer Chloride Egypt and e-mobility firm BluEV to set up a factory to produce lithium-ion batteries and electric propulsion systems for light EVs. Abdel Aziz said that the partnership between the AOI, the Electronics Research Institute, and design and engineering firm RFBox has successfully produced an integrated center to assemble and produce lithium batteries for light EVs in the Kader Factory.

DEVELOPMENT FINANCE-

KOICA to support auto vocational training: The Korea International Cooperation Agency (KOICA) will develop a green vehicle maintenance curriculum and training program at vocational schools in Egypt under a USD 10 mn project that aims to boost employment for graduates, Al Borsa reports. The agency will provide equipment to the centers as part of the program, and will help foster partnerships between training centers and industry stakeholders. The project builds on a previous KOICA project around vocational training in the automotive sector.

STARTUPS-

DisrupTech is mulling new fund: Local fintech- and tech-focused VC DisrupTech Ventures is considering launching a new USD 70 mn investment fund in 2026, founder Mohamed Okasha told Asharq Business. The fund will be launched once the company’s existing USD 35 mn fund is closed, according to Okasha, who said that his firm is yet to decide which sectors the new fund will target.

The firm is eyeing USD 16 mn worth of investments: Okasha said that his company is gearing up to invest USD 16 mn in fintech startups during the next 18 months, adding that DisrupTech is currently eyeing investments in 7-8 companies.

EXPANSION-

Le Marche is heading to Saudi Arabia: The region’s largest furniture exhibition Le Marche is launching in Saudi Arabia, following the signing of a strategic partnership between Tarek Nour Communications and Saudi company ALG Exhibitions.

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