{"id":614777,"date":"2024-02-07T00:00:00","date_gmt":"2024-02-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/07\/samsung-wants-to-boost-exports-from-egypt-by-50-plus-news-from-delta-fertilizers-schneider-electric-contact\/"},"modified":"2024-02-07T00:00:00","modified_gmt":"2024-02-07T00:00:00","slug":"samsung-wants-to-boost-exports-from-egypt-by-50-plus-news-from-delta-fertilizers-schneider-electric-contact","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/07\/samsung-wants-to-boost-exports-from-egypt-by-50-plus-news-from-delta-fertilizers-schneider-electric-contact\/","title":{"rendered":"Samsung wants to boost exports from Egypt by 50%. PLUS: News from Delta Fertilizers, Schneider Electric, Contact"},"content":{"rendered":"<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Samsung wants to increase its exports from Egypt by 50%: <\/strong>Samsung wants to increase its annual exports of locally-made electronic devices \u2014 that currently amount to USD 700 mn \u2014 by 50% in the \u201ccoming period,\u201d the chair of its Egypt arm said, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0w6udHHEHN3JvDTJnSJJDhB5nBetnZnBHPHEUTYpnV8wFUWp3V5XZrCdJbwNTf5zNl\" style=\"\" rel=\"noopener\">statement<\/a>. The decision to ramp up exports from Egypt comes on the back of preferential trade arrangements between the country and the European Union, the senior Samsung official added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Samsung was awarded a <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d03b6507-b649-4f52-9d7b-1c4bdf41420a\" style=\"\" rel=\"noopener\">golden license<\/a><\/strong><strong> in August to help localize the country\u2019s mobile<\/strong><strong> industry.<\/strong> In case you missed it, we took a deep dive into how Egypt is becoming a regional hub for smartphone production in our manufacturing vertical, Inside Industry, last year. You can check parts <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e7ff33f6-996f-40d3-9dc5-daf8dd6f06e9\" style=\"\" rel=\"noopener\">one<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4129e6c4-2d20-4675-a15a-b6363978a9dc\" style=\"\" rel=\"noopener\">two<\/a> here.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Delta Fertilizers teams up with <\/strong><strong>ThyssenKrupp:<\/strong> German conglomerate ThyssenKrupp will help revamp state-owned Delta Fertilizers and restart operations at its ammonia and urea factories under an <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0p93ofpDiFhnbLH9Kf9r6D8r2yynNS8F6umVvGMNeE2kG2eaAW7apNDXoVipfzb97l\" style=\"\" rel=\"noopener\">agreement inked<\/a> between the two. The plan is to boost production at both factories to their full capacity of 1.4k tons a day.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong>While operations at Delta Fertilizers are currently on hold, a source told us <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6133528b-ff49-4ccb-b8f3-d7b3f995bd33\" style=\"\" rel=\"noopener\">in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6133528b-ff49-4ccb-b8f3-d7b3f995bd33\" style=\"\" rel=\"noopener\">November<\/a> that the government plans to invest USD 350 mn over three years to bring them online again.<\/p>\n<p class=\"tag-border-left\">DIPLOMACY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ethiopia wants to calm GERD tensions: <\/strong>Ethiopian Prime Minister Abiy Ahmed said that his country is willing to \u201cshare [its] resources, even in the future\u201d in comments referring to the Grand Ethiopian Renaissance Dam during a speech in front of lawmakers on Tuesday, according to the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/somalia-ethiopia-somaliland-sea-port-dispute-f7bab5a1247783469fd125fc81cd9ff8\" style=\"\" rel=\"noopener\">Associated Press<\/a>. \u201cMy hope is I expect them to accommodate our requests as well,\u201d Abiy added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ethiopia is ready for another round of negotiations<\/strong>, the <a target=\"_blank\" href=\"https:\/\/www.ena.et\/web\/ara\/w\/ara_3975879\" style=\"\" rel=\"noopener\">prime minister said<\/a>, adding that his country is ready to listen to Egypt\u2019s demands and address them. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI: <\/strong>Abiy\u2019s remarks follow <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/72250c23-050f-42de-b54b-24092a06fc55\" style=\"\" rel=\"noopener\">a fourth round of fruitless negotiations<\/a> between Egypt, Sudan, and Ethiopia over operating and filling the dam, which wrapped up in December after Ethiopian negotiators persistently refused any of the proposed compromises.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dassault Aviation delegation in town: <\/strong>A delegation from French defense firm <a target=\"_blank\" href=\"https:\/\/www.dassault-aviation.com\/en\/\" style=\"\" rel=\"noopener\">Dassault<\/a><a target=\"_blank\" href=\"https:\/\/www.dassault-aviation.com\/en\/\" style=\"\" rel=\"noopener\">Aviation<\/a> discussed military industrialization, technical support, and capacity building with President Abdel Fattah El Sisi yesterday, according to an Ittihadiya <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02oSe6Zc4wKirok4SoSMtc1zTJRcRD7xveki4eHVbt1sgGkyU8myNtNybDndX6jPExl\" style=\"\" rel=\"noopener\">statement<\/a>. <\/p>\n<p class=\"tag-border-left\">TECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Schneider Electric plans to build 1k smart homes in Egypt<\/strong>, according to a cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0YaD62MpsRYf3Q6XZSiiFBqTNZxDNppBwnPFrMP3Xk4uMJq6gS5A1yvBWJyPVkUHzl\" style=\"\" rel=\"noopener\">statement<\/a>. The homes will be designed to have a lower carbon footprint and be powered by renewable energy. The components for the home automation systems will be manufactured in the Suez Canal Economic Zone.<\/p>\n<p class=\"tag-border-left\">FINANCE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Contact is the UAE?<\/strong> Non-bank financial services provider Contact Financial Holding is considering launching its operations in the UAE, mainly to serve Egyptian expats there, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/484.pdf\" style=\"\" rel=\"noopener\">disclosure (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Samsung was awarded a golden license in August<\/p>\n","protected":false},"author":1,"featured_media":614778,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,933,3280,168,6725,72,461,410,490,577,924],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614777","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-contact-financial","tag-dassault-aviation","tag-diplomacy","tag-egypt-ethiopia-relations","tag-enterpriseam","tag-gafi","tag-gerd","tag-hsbc","tag-samsung","tag-schneider-electric","wpautop","entry"],"acf":{"mongo_id":"4994c95f-bd5c-4aff-a496-cca486064b44","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/245.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Samsung wants to boost exports from Egypt by 50%.","related_issue":[614760],"teaser":"Samsung was awarded a golden license in August","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.0a67261f-142c-42f7-a4ac-6b35efec60dc.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Samsung wants to boost exports from Egypt by 50%. 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