{"id":658062,"date":"2024-12-31T00:00:00","date_gmt":"2024-12-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/31\/a-new-egp-30-bn-financing-initiative-for-industry\/"},"modified":"2024-12-31T00:00:00","modified_gmt":"2024-12-31T00:00:00","slug":"a-new-egp-30-bn-financing-initiative-for-industry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/31\/a-new-egp-30-bn-financing-initiative-for-industry\/","title":{"rendered":"A new EGP 30 bn financing initiative for industry"},"content":{"rendered":"

Good morning folks,<\/strong> and a very happy New Year\u2019s Eve to you all.<\/strong><\/p>\n

Thought we\u2019d send you off into the new year without a Weekend issue? <\/strong>Think again. In today\u2019s special issue, we take a look at the trends in tech, science, and culture that shaped this past year \u2014 alongside our thoughts on what we can expect going forward in our rapidly transforming world.<\/p>\n

\n

THE WEEK IN 3 MINS-<\/p>\n

MANUFACTURING-<\/strong><\/p>\n

The industry and finance ministries announced the launch of the first phase of a <\/strong>new<\/a><\/strong>EGP 30 bn initiative<\/a><\/strong> to support companies in priority industrial sectors. The initiative will provide beneficiaries with a subsidized interest rate of 15% for five years from its start date, with a maximum financing limit of EGP 75 mn per client or a total of EGP 100 mn for related entities. It also includes additional incentives tied to increasing local value-added products. <\/p>\n

AUTOMOTIVE-<\/strong><\/p>\n

#1- Al Mansour Automotive and Chinese state-owned SAIC announced that they will <\/strong>invest <\/strong>some USD 135 mn<\/a><\/strong> on their factory for the manufacture of SAIC-owned brand MG vehicles, with the news coming after weeks of unconfirmed reports. The factory will have a production capacity of 50k units annually during its first phase, with its production capacity set to double during its second phase. The factory will kick off production in 2Q 2026.<\/p>\n

\n

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#2- The Investment Ministry issued a decision introducing <\/strong>new restrictions<\/a><\/strong> on personal <\/strong>car imports<\/strong> to limit USD outflows and support the localization of the auto industry. The decision capped personal imports at one car every five years, with importers required to provide proof of financial solvency and make payment through an Egyptian bank.<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\u2600\ufe0f THE WEATHER OVER NEW YEARS- <\/strong>We\u2019re expecting a high of 18\u00b0C today in the capital, with a low of 11\u00b0C tonight. The mercury will inch up on New Year\u2019s Day to reach 19\u00b0C in the capital, with the low rising to 12\u00b0C.<\/p>\n

\n

? NEW YEAR CELEBRATIONS<\/p>\n

Your New Year\u2019s Eve plans are sorted. <\/strong>The maestro of modern electronic music, KAS:ST<\/a>, will be playing at Le Lac Du Caire tonight for an iconic X-H\u00c4US New Year\u2019s eve party. Tickets are available at Collard Tickets<\/a>.<\/p>\n

If you\u2019re looking for a night of nostalgic Arabic tunes,<\/strong> head to CJC 610 tonight for Hisham Abbas and Hamid El Shari<\/a>. Doors open at 8pm, and the party starts at 10pm. Message their Facebook page<\/a> to reserve your spot.<\/p>\n

It\u2019s that time of year again... The Nutcracker is returning to the opera. <\/strong>Celebrate the season with The Nutcracker Ballet, performed by the Cairo Opera Ballet Company and Orchestra. The performances will run until Tuesday, 31 December. Tickets are available on Tazakarti<\/a>.<\/p>\n

More oriental charm:<\/strong> Nawal ElZoghbi and Wael Jassar<\/a> will be performing at Movenpick Cairo Media City\u2019s New Year\u2019s eve party. Book your spot by contacting the number on their poster. <\/p>\n

End the year with some laughs<\/strong> at comedian Ali Quandil\u2019s 600th show<\/a>. The show will take place at Theatro Arkan tonight at 8pm. Tickets are available on Ticketsmarche<\/a>.<\/p>\n

\n

HAPPENING THIS WEEKEND<\/p>\n

The audience\u2019s turn to sing. <\/strong>Han3\u2019ani X Sokseeh<\/a> is an opportunity to listen to some nostalgic music and sing along with a live orchestra. The event will take place on Friday, 3 January at El Rihany Theater starting at 8:30pm. Tickets are available on Ticketsmarche<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning folks, and a very happy New Year\u2019s Eve to you all. Thought we\u2019d send you off into the new year without a Weekend issue? Think again. In today\u2019s special issue, we take a look at the trends in tech, science, and culture that shaped this past year \u2014 alongside our thoughts on what […]<\/p>\n","protected":false},"author":1,"featured_media":658063,"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":[7287],"tags":[6653,131,6654],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-658062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-week-in-review","tag-enterprise-weekend","tag-manufacturing","tag-the-week-in-review","wpautop","entry"],"acf":{"mongo_id":"db0ad353-f864-44d7-a32b-77e33dc15ce0","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/12\/2573.jpg","photo_position":"above","homepage_title":"","full_issue_title":"A new EGP 30 bn financing initiative for industry","related_issue":[658060],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.05edde19-5223-4714-bcb8-d5067e9617ee.mp3"},"yoast_head":"\nA new EGP 30 bn financing initiative for industry - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/31\/a-new-egp-30-bn-financing-initiative-for-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A new EGP 30 bn financing initiative for industry\" \/>\n<meta property=\"og:description\" content=\"Good morning folks, and a very happy New Year\u2019s Eve to you all. 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It was one busy week for politics, economic, business, and even sports news with the Paris Olympics jostling for attention.LAST WEEK IN 3 MINS-ECONOMY- #1- Third IMF review complete: The IMF Executive Board has completed the third review of our\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1638.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":644541,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/27\/frank-discussions-with-more-than-550-senior-members-of-our-community-at-enterpriseam-finance-forum-2024\/","url_meta":{"origin":658062,"position":1},"title":"Frank discussions with more than 550 senior members of our community at EnterpriseAM Finance Forum 2024","author":"enterpriseam admin","date":"27 September 2024","format":false,"excerpt":"Good morning, friends, and happy FRIDAY. It\u2019s been a very busy week for all of us, with conferences, meetings, and the corporate budget season. We hope you have some fun plans coming up this weekend to take your mind off work.How about dabbling with a new hobby that you have\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1873.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":678392,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/26\/monetary-policy-committee-cuts-interest-rates-by-100-basis-points-in-final-2025-meeting\/","url_meta":{"origin":658062,"position":2},"title":"Monetary Policy Committee cuts interest rates by 100 basis points in final 2025 meeting","author":"enterpriseam admin","date":"26 December 2025","format":false,"excerpt":"Good morning, friends, and a very Merry Christmas to all who celebrate. And as always, happy weekend \u2014 the last of 2025. Next time we see you will be in the new year. We\u2019re polishing things up to start the year off right, and are excited for many more returns\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/5\/1944.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":639075,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/22\/what-were-tracking-on-22-october-2017\/","url_meta":{"origin":658062,"position":3},"title":"What we\u2019re tracking on 22 October 2017","author":"enterpriseam admin","date":"22 October 2017","format":false,"excerpt":"PM to discuss reasons for extending state of emergency in House address: Prime Minister Sherif Ismail is expected to address the House of Representatives today to explain why it was necessary earlier this month to extend the state of emergency for another 90 days, Ahram Online reports. Ismail\u2019s address follows\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":640719,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/30\/delayed-imf-loan-review-is-right-around-the-corner\/","url_meta":{"origin":658062,"position":4},"title":"Delayed IMF loan review is right around the corner","author":"enterpriseam admin","date":"30 August 2024","format":false,"excerpt":"Good morning, friends, and happy Friday. We hope you\u2019re reading us from the beach, enjoying the last weekend of the Sahel season.In the Enterprise Guide this week: From plumbing to electrical work, finding trusted experts in your area is always a headache. You can't remember who was the best technician\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2275.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":663155,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/28\/growth-picks-up-to-4-3-in-2q-fy-24-25\/","url_meta":{"origin":658062,"position":5},"title":"Growth picks up to 4.3% in 2Q FY 24-25","author":"enterpriseam admin","date":"28 March 2025","format":false,"excerpt":"Good morning, friends, and a very happy long weekend to you all. We\u2019ve got much to look forward to as the holy month draws to a close and the Eid holiday begins. 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