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Another busy Wednesday at the cabinet, saw ministers signing off on a raft of decisions, including more golden license awards.
#1- More golden licenses awarded: Cabinet has agreed to award a golden license to China’s state-owned Xinxing for its USD 145 mn ductile iron pipes factory in Ain Sokhna’s TEDA industrial park. With a target launch date of March 2025, the project is expected to create 700 jobs.
AND- Cabinet also agreed to award Yada Egypt a golden license for its EUR 70 mn furnitureplant in New Alamein. The project — set to go live by October 2026 — will see polish manufacturer Padma, a key IKEA supplier, train local talent and introduce advanced production techniques. The facility will create 6.4k jobs and export 100% of its output.
#2- A new Supreme Council for Planning and Sustainable Development: The cabinet approved a draft presidential decree to form the Supreme Council for Planning and Sustainable Development, which will be led by the president and include the prime minister, central bank governor, and key ministers, alongside sector experts in energy, education, agriculture, and industry.
Scope? Meeting at least once every three months, the council will oversee national and regional development plans, ensuring alignment between urban planning and sustainable development strategies. Its decisions will be binding for all state bodies.
