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Egypt’s economy could easily grow at an annual 8% clip in the coming period, Abdel Moneim Said writes for Al Masry Al Youm, but it requires effort as well as learning from other countries’ successful experiences. Said points to how other countries such as Latvia and China have harnessed their competitive advantages, whether in labor […]
Author Archives: enterpriseam admin
Posted inDiplomacy + Foreign Trade
Egypt, Eurasian Economic Union to hold first round of negotiations on trade agreement mid-January
Egypt and the Eurasian Economic Union (EAEU) will hold the first round of talks on a potential trade agreement in mid-January, according to a Trade Ministry statement. Minister Amr Nassar signed yesterday a cooperation framework with the Eurasian Economic Commission’s Trade Minister, Veronika Nikishina, to hold a joint business forum during 1H2019 to enhance trade.
Posted inDiplomacy + Foreign Trade
AFD to lend Egypt EUR 60 mn to finance first phase of Universal Health Insurance scheme
AFD to lend Egypt EUR 60 mn to finance first phase of Universal Health Insurance scheme: The French Agency for Development (AFD) is granting Egypt a EUR 60 mn loan to finance the first phase of Egypt’s health insurance scheme, which is set to roll out in June, AFD senior project officer Dina Khalil said. […]
Posted inDiplomacy + Foreign Trade
Investment minister meets with World Bank, discuss Upper Egypt development
Sahar Nasr discusses USD 500 mn Upper Egypt development program with World Bank: Investment and International Cooperation Minister Sahar Nasr met yesterday with a delegation from the World Bank to discuss the ministry’s implementation of a USD 500 mn development program for the Upper Egypt region, according to a ministry statement. The World Bank had […]
Posted inDiplomacy + Foreign Trade
AIIB eyes new investments in Egypt’s infrastructure
The Asian Infrastructure Investment Bank (AIIB) is eyeing fresh investments in Egyptian infrastructure projects, a delegation from the bank told Investment and International Cooperation Minister Sahar Nasr and Suez Canal Authority Chief Mohab Mamish, according to a ministry statement. No details were provided on the expected size of the investments. The delegation will be in […]
Posted inEnergy
Egypt discusses energy collaboration with US energy bureau’s Francis Fannon
Oil Minister Tarek El Molla and Electricity Minister Mohamed Shaker met on Monday with US Bureau of Energy Resources Assistant Secretary Francis Fannon to discuss bilateral cooperation in the energy sector.
Posted inEnergy
Egypt, Slovenia sign MoU to manufacture equipment used for energy distribution
The Military Production Ministry inked yesterday an MoU with Slovenian company Iskra to cooperate in manufacturing devices and equipment used for energy distribution, according to a ministry statement. No further details were provided.
Posted inEnergy
Eni finishes drilling ninth well in Zohr field
Italy’s Eni has completed drilling work on Zohr’s ninth deepwater well at a cost of USD 300 mn, according to an industry source. Early tests put initial production levels at 150 mcf/d. The well was closed after the company finished drilling due lack of capacity at the treatment plant, but will enter production by the […]
Posted inBasic Materials + Commodities
EBRD signs USD 7 mn loan agreement with Obour Land to finance expansions
The European Bank for Reconstruction and Development (EBRD) has signed a USD 7 mn loan agreement with Egyptian cheesemaker Obour Land, according to an EBRD statement. Obour Land will us the loan to finance its expansion plans, including establishing a “greenfield dairy farm, with imported milking equipment and 2,500 dairy cows.” The farm has an […]
Posted inTourism
Winter tourism bookings to Egypt this year are “promising”
Winter tourism bookings to Egypt from Germany, Italy, Poland, and Ukraine are “particularly promising” this year, travel company Travco Group CEO Hamed El Chiaty told Reuters. Occupancy rates at the group’s hotels this year have hit more than 80%, excluding Sharm El Sheikh, El Chiaty said.