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Suez Canal Economic Zone head Mohab Mamish and DP World CEO Sultan Ahmed Bin Sulayem signed on Thursday a preliminary agreement to establish a joint venture industrial zone in Ain Sokhna, Al Borsa reports. The zone will bring in various sectors, including SMEs, construction materials, auto spare parts, and textiles manufacturing. according to Al Mal. […]
Author Archives: enterpriseam admin
Posted inManufacturing
IDA, Singapore’s SECC to build industrial city in Fayoum
The Industrial Development Authority (IDA) signed an MoU with Singapore’s SECC Group yesterday to establish a 33 mn sqm industrial city in Fayoum, according to a Trade and Industry Ministry statement. The zone will target manufacturers of meds, chemicals, textiles, and auto, according to AMAY.
Posted inManufacturing
Schneider Electric to boost domestic component of products to 50%
Schneider Electric wants to increase the domestic component of products it manufactures locally to 50% from a current 40%, MEA President Caspar Herzberg says, according to Al Mal. A delegation from the company has been in town this week to meet with government officials including Prime Minister Sherif Ismail and CIT Minister Yasser El Kadi.
Posted inManufacturing
Bosch looks to expand its investments in Egypt
German engineering and electronics firm Bosch is looking at expanding their investments in Egypt,said Trade Minister Tarek Kabil following a meeting with Bosch’s regional president Markus Thill, according to AMAY. The firm is apparently looking to open new factories producing a number of different goods with an eye towards exporting to Africa, said Kabil. No […]
Posted inManufacturing
Unlicensed factories have one year to comply with Industrial Permits Act
Trade and Industry Minister Tarek Kabil issued new directives last week that will allow unlicensed factories to receive temporary industrial permits, permitting them to operate legally for a year while they restructure their affairs to comply with the new Industrial Permits Act, Al Borsa reports. Separately, Kabil also issued new, tighter regulations for the inspection […]
Posted inHealth + Education
ESQua to establish USD 750 mn medical city in New Capital
The Egyptian Society for Quality in Health Care (ESQua) is planning on establishing a USD 750 mn medical city near the New Capital, ESQua President Hassan El Kalla tells Youm7. The city, dubbed CapitalMed, will include a public hospital, a complex of clinics, specialized medical centers, and a hotel. Construction will begin at the end […]
Posted inReal Estate + Housing
Jumeirah starting on EGP 10 bn North Coast project
Jumeirah Real Estate Investment Company is investing EGP 10 bn in their new Jumeirah Bay Ras al Hikma project, according to Al Masry Al Youm. The project will include 5k home and three hotels, with work on the EGP 2 bn first phase set to start next month.
Posted inReal Estate + Housing
HDG investing EGP 600 mn in New Cairo
Heliopolis Development Group will invest EGP 600 mn in its Cairo Capital Center project in New Cairo, Al Masry Al Youm reports. The company is hoping the project will deliver sales of about EGP 1 bn, largely by way of office space for banks and international companies.
Posted inTourism
Direct flights between Egypt and Latvia being discussed
Negotiations for direct flights between Egypt and Latvia are underway, sources told AMAY. About 10k Latvians visit each year, the newspaper says.
Posted inTelecoms + ICT
TE targeting 2 mn new mobile services customers every month
Telecom Egypt is looking to attract a 2 mn new subscribers each month to its new mobile network, sources tell Al Mal, which couldn’t be bothered to express the sales target in terms of total number of subscribers the new MNO is targeting.