Author: MENA
Prime Minister Mostafa Madbouly praised Schneider Electric’s significant contribution to the power sector in Egypt, highlighting the company’s role as a key partner to the government and the electricity minister’s appreciation. During a meeting with the company’s Executive Vice-President, Manish Pant, at the Egypt-EU Investment Conference, discussions focused on localizing power sector components such as networks and control centers. Madbouly commended Schneider’s team for their efficiency and reliability in electricity generation and distribution, expressing hopes for further localization of industry components to meet the demands of major development projects, including land reclamation efforts. Collaboration to reduce power waste and alleviate…
Eni’s Bouri Offshore oil terminal is seen off the Libyan coast, in the Mediterranean sea, Tuesday, Aug. 1, 2015. The Italian energy company Eni SpA announced Sunday, Aug. 30, 2015, it has discovered a “supergiant” natural gas field off Egypt, describing it as the “largest-ever” found in the Mediterranean Sea. (AP Photo/Gregorio Borgia) Prime Minister Mostafa Madbouly expressed appreciation for the cooperation between the Egyptian government and Italy’s Eni company despite economic challenges. This was discussed during a meeting with Eni’s Martina Opizzi at the Egypt-EU Investment Conference. Madbouly affirmed support for foreign companies in Egypt’s petroleum and natural gas…
The Finance Ministry of Egypt has made significant strides in debt repayment, with $25 billion paid off since March, as reported by the Institute of International Finance (IIF). The ministry revealed plans to achieve a budgetary primary surplus of 3.5 percent for the fiscal year 2024/2025, the highest target set since the onset of the pandemic in 2020. Under the IMF loan deal, Egypt aims to further reduce its public debt through fiscal policies that generate larger primary surpluses, as projected by the IIF. Additionally, Egypt intends to utilize 50 percent of the IPO proceeds from the government’s IPO Program…
The Egyptian-European Investment Conference is about to begin with high-profile attendees including President Abdel Fattah al-Sisi and European Commission President Ursula von der Leyen. This event, taking place over the weekend in Egypt, aims to showcase the numerous investment opportunities across various economic sectors in the country. By bringing together 632 individuals from European companies, international institutions, as well as 647 participants from Egyptian government agencies, the conference seeks to boost economic cooperation between Egypt and European nations. It also works towards expanding the scope of their joint ventures and collaborations. This conference serves as a platform for networking, information…
Image processed by CodeCarvings Piczard ### FREE Community Edition ### on 2024-03-10 09:16:22Z | | Prime Minister Mostafa Madbouly sent congratulations to President Abdel Fattah al-Sisi on the eleventh anniversary of the June 30 Revolution, highlighting its significance in Egyptian history. The revolution, where millions protested against threats to the country’s identity and security, continues to inspire national pride. Madbouly affirmed the government’s dedication to development under President Sisi’s leadership. The commitment to progress and the well-being of the people remains a top priority for the government, ensuring Egypt’s continual growth and prosperity. \ Source link
Prime Minister Mostafa Madbouly highlighted the strong ties between Egypt and France during a meeting with the French Chamber of Commerce and Industry in Egypt (CCIFE) and a delegation of French CEOs and officials. They discussed current projects and future investments in Egypt, with Trade and Industry Minister Ahmed Samir in attendance. Madbouly praised the current trade relations and encouraged increasing trade exchanges between the two countries. He noted that 940 French companies have investments totaling USD 7.2 billion in various sectors in Egypt. The government has taken steps to improve the investment climate, offering incentives to foreign companies under…
Trucks carrying aid arrive, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Rafah in the southern Gaza Strip January 17, 2024. REUTERS/Mohammed Salem Egypt extends condolences to Jordan over military trucks accident on a humanitarian aid convoy to Gaza. The Ministry of Foreign Affairs expressed sorrow for the victims and prayed for those affected. Three military trucks veered off course on their way to Gaza as part of a relief effort. Our thoughts are with the families of those involved in this tragic accident. \ Source link