Latest in Industry Highlight
Latest in Industry
Parliament’s Industry Committee meets new Industry Minister
Minister of Trade and Industry Ahmed Samir met with members of the Parliament’s Industry Committee and stressed the importance of achieving integration between the legislative and executive authorities. He said that integration will contribute to the implementation of the objectives of the state’s plan to achieve comprehensive and sustainable economic development, pointing to the ministry’s …
5.85% decrease in Egypt’s manufacturing, extractives index in May 2021
Egypt saw a 5.85% decrease in its manufacturing and extractive index in May 2021, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).The data was reported in a press release on Sunday about the primary data of manufacturing and extractive industries of production index of May 2021.The agency has updated the index methodology …
AAAM, Afreximbank sign MoU to boost Africa automotive investment
The African Export-Import Bank (Afreximbank) and the African Association of Automotive Manufacturers (AAAM) have signed a Memorandum of Understanding (MoU) for the financing and promotion of Africa’s automotive industry.
Egypt expects $5.8bn of chemical industries exports in 2021: Official
Egypt’s chemical industries exports to Turkish market amounted to $766m in 2020, increase of 12% compared to 2019
Egypt’s food industry exports to Germany record 13% increase in 11M 2020
Germany is third largest importer worldwide in all commodity sectors, says FEC
FEI’s feeder industries division praises government drive towards EV manufacturing
Division expects EVs to spread significantly between now and 2026, with opening charging stations
Trade, Military Production Ministers sign agreement to manufacture electric buses
Egypt’s Minister of Trade and Industry Nevine Gamea and Minister of Military Production Mohamed Ahmed Morsi have witnessed the signing ceremony of a joint manufacturing agreement to produce electric buses in Egypt.
Egyptian Iron & Steel Company workers to be paid compensation soon: Public Enterprises Minister
Total of 48 public enterprise sector companies lost EGP 60bn in past few years, says Minister Hisham Tawfik
Trade Ministry, IDB discuss increasing support to industrial, export sectors
IDB’s financing programmes aimed at contributing to implementation of government’s strategy to double Egyptian exports
Misr Chemical Industries plans to obtain new Evaporation Unit worth EGP 90m-EGP 130m
The Misr Chemical Industries Company (MICH) is planning to obtain a new Evaporation Unit, worth EGP 90m-EGP 130m, and which increases liquid soda concentration and its volumes by 5%-10%.
Egypt, Sudan agree to utilise mineral resources for industrial purposes
They discuss removing obstacles that hinder flow of goods between two countries such as customs, taxes
403 investors apply to acquire industrial units in 7 complexes
Lease term for industrial units was extended from 5 to 10 years
Egypt’s manufacturing, extractive industries index up 0.84% in November 2020
Pharmaceutical, chemical industries index increases 7% due to higher demand for medicines, disinfectants
Supported by Chinese experience, El Nasr to produce Egypt’s first EV by 2022
Local component in electric cars projected to be 58%, says El Nasr Automotive CEO
Iron, steel workers protest over ‘unilateral’ factories closure in Egypt
Egyptian government vows to protect rights of sacked Iron and Steel workers, cites massive losses at company
Shortage of iron billets hits rolling mills locally
Rolling mills in Egypt are currently suffering from low availability of iron billets production locally. The hiccup in supply has forced factory closures due to their commitment to workers, as well as their bank obligations that require them to fulfil a guarantee of factory operations. Tarek El-Gioushy, member of the Chamber of Metallurgical Industries at …
Egypt’s EFIC aims to launch compound fertiliser production line
Project to take around 3 years to break even, contribute to company’s cash flow
New tax facilitation in pipeline for SMEs: Trade Minister
MSMEs exempted from stamp tax, documentation fees, while custom duties on machinery, equipment reduced from 5% to 2%
Egypt eyes 22% growth in chemical industries exports to Africa
Chemical industries, fertiliser exports record average increase of 14% annually over last 4 years, growing from $3.3bn in 2015 to $5.5bn in 2019
Procedures to allocate 7 industrial complexes completed by January 2021 end: Trade Minister
Work is underway to launch incentive fund to deepen local products, says Nevine Gamea
20,000 citizens register data under Car Replacement Initiative: Trade Minister
Egypt’s Minister of Trade and Industry Nevine Gamea has revealed that 20,000 citizens registered their data, during the recent Go Green Exhibition, to benefit from the government’s Car Replacement initiative. Gamea said that the initiative aims to convert and replace vehicles to run on clean energy and natural gas. Of the registrants, more than 10,000 …
MSMEDA provides EGP 3.7bn in funding to youth projects during 11M 2020
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) provided EGP 3.7bn in funding to 124,000 small and micro businesses from January to November 2020, according to Minister of Trade and Industry, and MSMEDA Executive Director Nevine Gamea. The funding helped create a total of 195,000 job opportunities, Gamea said. She added that EGP 119m …
Egypt’s Chemical Industries Export Council urges reconsideration of gas pricing
The Egyptian Chemical Industries Export Council has called on the Egyptian government to reconsider the pricing of natural gas for industrial use, according to the council’s Chairperson Khaled Abul Makarem
Egypt reports 2.55% decrease in manufacturing and extractive industries index in October
Egypt has reported a standard number for its manufacturing and extractive industries, excluding crude oil and petroleum products, of 96.45 in October 2020
Al-Sisi directs for integration of Suez Canal Economic Zone industrial projects
President reviewed the most important productive activities to be established within the Suez Canal Economic Zone to localise industry
Egypt records industrial growth of 6.3% in FY 2019/20
Country sees investments in industry reaching EGP 49bn in FY 2019/20
Egypt’s chemicals, fertilisers exports reach $4.165bn in 10M of 2020: Abul Makarem
The Chemical Industries Export Council, headed by Chairperson Khaled Abul Makarem, has announced that Egypt’s chemicals and fertilisers exports during the first ten months (10M) of 2020 amounted to about $4.165bn.
Haier to establish EGP 200m AC factory in cooperation with Raya
The Managing Director of Haier Egypt for home appliances and consumer electronics has revealed that the company allocated investments of EGP 200m
Abu Qir Fertilizers increases production capacity of its “3” plant
Abu Qir Fertilizers launched a project to reduce carbon dioxide emissions and raise the production capacity of the Abu Qir 3 plant. The company said in a statement to the Egyptian Exchange on Sunday that the procedures include awarding a license to Stamicarbon to carry out technical studies for the development of the liquid urea …
GLC Paints launches “Colour Trends 2021” with participation of 5 prominent designers
Following the bold economic and social reforms, Egypt is fully qualified to become a regional centre for colours and paint industry, GLC Paints said