{"id":656276,"date":"2024-12-02T00:00:00","date_gmt":"2024-12-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/02\/govt-and-world-bank-collaborate-on-building-our-fdi-strategy-until-2030-plus-madinet-masr-asec-automation-mountain-view-saudi-egyptian-developers-sokna-e\/"},"modified":"2024-12-02T00:00:00","modified_gmt":"2024-12-02T00:00:00","slug":"govt-and-world-bank-collaborate-on-building-our-fdi-strategy-until-2030-plus-madinet-masr-asec-automation-mountain-view-saudi-egyptian-developers-sokna-e","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/02\/govt-and-world-bank-collaborate-on-building-our-fdi-strategy-until-2030-plus-madinet-masr-asec-automation-mountain-view-saudi-egyptian-developers-sokna-e\/","title":{"rendered":"Gov\u2019t and World Bank collaborate on building our FDI strategy until 2030. PLUS: Madinet Masr + ASEC Automation, Mountain View, Saudi Egyptian Developers, Sokna, e&"},"content":{"rendered":"

INVESTMENT- <\/p>\n

Gov\u2019t and World Bank collaborate on FDI strategy for 2025-30:<\/strong> The General Authority for Investment and Freezones (GAFI) is working with the World Bank and relevant ministries to develop a national strategy for foreign direct investment from 2025-30, with the complete strategy to be announced in \u201cthe coming months,\u201d according to an authority statement<\/a>. <\/p>\n

What we know: <\/strong>The strategy breaks down targeted sectors into two categories based on the World Bank\u2019s sectoral survey methodology: those that will provide significant benefits for the state and offer high returns for investors, and those that require reforms to enhance their attractiveness. GAFI Vice President Dalia El Hawary noted that the strategy will focus on \u201cseveral key pillars, including fostering linkages with complementary industries and activities, improving the business environment, and promoting investment effectively.\u201d<\/p>\n

REAL ESTATE- <\/p>\n

#1- Madinet Masr to partner with ASEC Automation on second phase of its Sarai project: <\/strong>Real estate player Madinet Masr has partnered with Qalaa Holding subsidiary ASEC Automation to invest over EGP 580 mn in the second phase of infrastructure development for its Sarai project in New Cairo, according to a pr<\/a>ess release (pdf)<\/a>. The second phase of the project will cover road networks and infrastructure over 4.2 mn sqm set to house 14 residential neighborhoods, with delivery targeted by 2026.<\/p>\n

ICYMI: <\/strong>Madinet Masr and ASEC signed an MoU in September<\/a> for the construction of an EGP 100 mn infrastructure and road network for the Cavana project at Sarai.<\/p>\n

DATA POINT- <\/strong>Madinet Masr\u2019s Sarai project accounted for 77.7%<\/a> of the company\u2019s total sales in 3Q 2024.<\/p>\n

\n

#2- Mountain View contracts Consolidated Contractors Company to build final EGP 2.5 bn <\/strong>phase of iCity: <\/strong>Mountain View has partnered with Consolidated Contractors Company<\/a> (CCC) to construct the remainder of its iCity project in New Cairo with investments of EGP 2.5 bn, according to a statement seen by EnterpriseAM. CCC will construct 19 buildings as part of the EGP 10 bn project\u2019s final phase.<\/p>\n

Remember: <\/strong>iCity is a partnership<\/a> between the New Urban Communities Authority, Mountain View, Saudi\u2019s SISBAN, and the Housing Ministry.<\/p>\n

\n

#3- Saudi Egyptian Developers delivers first phase of EGP 8.7 bn Bleu Vert project:<\/strong> Real estate company Saudi Egyptian Developers (SED) has completed the first phase of its EGP 8.7 bn Bleu Vert project in the new administrative capital, according to a company press release (pdf)<\/a>. The company plans to hand over 300 apartments and 104 villas as part of the first phase, with the 70-feddan project set to house some 1.4k units once completed.<\/p>\n

STARTUPS- <\/p>\n

Housing Ministry mulls partnering with Sokna on modern cemetery development: <\/strong>Housing Minister Sherif El Sherbiny and officials from funeral services provider Sokna<\/a> met to discuss possible collaboration on modernizing cemetery infrastructure in Egypt, according to a ministry statement<\/a>. The meeting saw El Sherbiny welcome possible cooperation in developing existing cemetery sites and allocating areas for new cemeteries in Egypt\u2019s new cities.<\/p>\n

MANUFACTURING- <\/p>\n

#1- Locally manufactured 4.5G routers are here:<\/strong> The Egyptian arm of UAE state-owned telecom company e& has announced the launch of the country\u2019s first locally manufactured 4.5G routers, according to a statement seen by EnterpriseAM. The new routers were produced in partnership with Sico Egypt and designed in collaboration with Chinese router manufacturer Tozed. <\/p>\n

**We ran an Inside Industry in October that breaks down current efforts to expand <\/strong>Egypt\u2019s local router manufacturing industry. <\/strong>Check out the story here<\/a>.<\/p>\n

\n

#2- EGFCO launches new polyethylene pipe plant: <\/strong>EGFCO \u2014 a joint venture between the Swiss GF Piping Systems, Egypt Gas, and the UAE\u2019s GF Corys \u2014 has launched its new polyethylene pipe factory<\/a> in the Tenth of Ramadan City, according to an EGX disclosure (pdf)<\/a> from Egypt Gas. The 25k sqm facility will manufacture piping systems for water, gas, and energy infrastructure, with an annual production capacity of up to 25k tons.<\/p>\n

FOOD- <\/p>\n

Egypt's Food Safety Authority partners with FEDIS to digitize food monitoring system:<\/strong> The National Food Safety Authority announced a strategic partnership with Fixed Egypt for Digital Solutions and Information Security (FEDIS) to modernize and digitize the monitoring system for food production and distribution in the local market, according to an authority statement<\/a>. This initiative aims to streamline inspections, certifications, and compliance processes through an integrated digital platform that is expected to enhance workflow efficiency, increase transparency in food safety operations, and support decision-making with advanced analytics.<\/p>\n

Remember: <\/strong>The government announced in October<\/a> that food products will require food safety and validity certificates from the National Food Safety Authority starting January 2025.<\/p>\n

MINING- <\/p>\n

Hamash to restart gold mining operations:<\/strong> Hamash Company, a JV between the state and Cyprus\u2019 Matz Holding, is looking to restart its gold production and development operations in 2025, following significant challenges with company structure, assets and public funds, company chairman Assem Seddik told the Middle East News Agency<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The complete strategy to be announced in \u201cthe coming months\u201d<\/p>\n","protected":false},"author":1,"featured_media":656277,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[111,8247,72,103,564,7203,131,373,154,83,8246,868,843,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-656276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-asec-automation","tag-enterpriseam","tag-fdi","tag-food","tag-madinet-masr","tag-manufacturing","tag-mining","tag-mountain-view","tag-real-estate","tag-saudi-egyptian-developers","tag-sokna","tag-telecoms","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"35ed1d60-4c4d-47b8-ac19-db0aa089cf30","order":"10","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/107.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Gov\u2019t and World Bank collaborate on building our FDI strategy until 2030. 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