Shaikha Al-Bahar participates in the Egyptian-Kuwaiti cooperation council delegation in Cairo
Ms. Shaikha Al-Bahar, Deputy Group CEO of the National Bank of Kuwait, participated in the Egyptian-Kuwaiti Cooperation Council's visit to Cairo, aimed at exploring avenues to strengthen bilateral cooperation and unlock new opportunities across various sectors.
The Kuwaiti delegation, headed by Mr. Mohammed Al-Sager Head of the Egyptian-Kuwaiti Cooperation Council—comprised senior representatives from prominent Kuwaiti banks and corporations.
The delegation was received by His Excellency President Abdel Fattah El-Sisi at the Presidential Palace in Cairo, where he extended an invitation to Kuwaiti investors to explore the wealth of opportunities available in Egypt. He emphasized the incentives and facilities provided by the Egyptian government, encouraging the development of industrial cooperation through the establishment of strategic partnerships between Egyptian and Kuwaiti companies. El-Sisi underscored the immense potential of the Egyptian market, emphasizing its expansive scale, robust growth prospects, and significant demand across diverse sectors. He highlighted the substantial opportunities available for investors, particularly in high-value industries, where they stand to reap considerable returns.
The delegation also held a meeting with Egyptian Prime Minister Dr. Mostafa Madbouly at the Government Headquarters in the New Administrative Capital. The meeting was attended by Eng. Hassan El-Khatib, Minister of Investment and Foreign Trade; Ambassador Ghanem Saqr Al-Ghanem, Kuwait's Ambassador to Egypt; and Ambassador Osama Shaltout, Egypt's Ambassador to Kuwait.
During the meeting, Prime Minister Madbouly invited Kuwaiti investors to tap into the wide array of investment opportunities available in Egypt, affirming the government's willingness to grant the 'Golden License' to projects mutually agreed upon by both sides streamlining procedures and reinforcing Egypt's commitment to facilitating foreign investment.
Madbouly expressed his keen interest in seeing the Kuwaiti side explore the diverse investment prospects Egypt has to offer across a range of sectors. He emphasized Egypt's openness to forging various forms of partnerships with Kuwaiti investors, underscoring the country's commitment to fostering mutually beneficial collaboration that serves the shared interests of both nations.
He outlined several promising investment opportunities within the Egyptian market, particularly in key sectors including food security, oil and petrochemicals, logistics, tourism, and hospitality.
The Egyptian Prime Minister also reaffirmed the freedom to transfer foreign funds abroad, noting that the economic reforms implemented by the Egyptian government since March 2024 most notably the adoption of a flexible exchange rate policy have significantly bolstered the country's foreign currency reserves.
The delegation also held discussions with Egyptian Foreign Minister Dr. Badr Abdelatty, who expressed pride in the longstanding and historic ties between Egypt and Kuwait. He provided an overview of the recent economic reforms and national projects undertaken by Egypt, highlighting efforts to enhance the investment climate and strengthen the role of the private sector across various industries.
Furthermore, the Kuwaiti delegation engaged in a meeting with Egyptian Minister of the Public Business Sector, Eng. Mohamed Shemy, alongside Mohamed Jubran, Minister of Labor, to explore avenues for strengthening bilateral cooperation across business, economic, and commercial sectors. The discussions also focused on the investment opportunities available for Kuwaiti investors in the Egyptian market.
Additionally, the delegation participated in the Egyptian-Kuwaiti Investment and Business Forum, attended by a range of ministers and senior officials. The forum, which aimed to bolster economic and investment ties between Kuwait and Egypt, facilitated discussions on enhancing collaboration across various business, economic, and commercial sectors.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Middle East Eye
13 hours ago
- Middle East Eye
Prominent Egyptian TV host says Gaza-bound convoy a 'ploy to embarrass' the country
Ahmed Moussa, a prominent pro-government presenter in Egypt, has taken to social media in criticism of a grassroots convoy heading towards Gaza in an attempt to break Israel's siege on the Palestinian enclave, calling the effort a "ploy to embarrass Egypt". The Sumud Convoy - which means steadfastness in Arabic - started in Tunisia this week, with thousands of volunteers from Egypt, Tunisia, Libya, Morocco and Algeria. Organisers say they are aiming to raise international awareness about the humanitarian crisis in the besieged enclave and deliver aid to what the UN has called the "hungriest place on earth". The convoy is projected to reach Cairo by Thursday, though Egyptian officials have yet to authorise its entry into the Sinai Peninsula, where the Rafah crossing to Gaza is located. While the volunteers have received widespread praise and celebration along their journey on the North African coast, some pro-government figures in Egypt claim the plan is a "political scheme" by people affiliated with the Muslim Brotherhood, which is outlawed in Egypt - labelling it an "anti-Egyptian establishment", as opposed to a pro-Palestinian, effort. One of the loudest critics of the movement is television personality Moussa, who took to X, formerly Twitter, to accuse the convoy of being a "well-planned setup" to cast Egypt in a negative light with regards to the Palestinian cause. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters "Everyone must be vigilant to confront this trap that aims to put Egypt in a very embarrassing position, whether it allows the entry or prevents the convoy, and the repercussions of what may happen and the campaigns prepared in advance against the Egyptian state," he said in a post on Tuesday, adding that it was "strange" that the organisers did not choose an "easier and shorter sea route". عندهم البحر المتوسط وسواحلهم والمياه الدولية وينطلقوا منها الى غزة. غير كده غير مسموح. مصر لن تكون ارضا للفوضى مصر دولة لها سياده وعلى الجميع ان يحترمها ولن نسمح لأى تهديد لأمننا. ودا حق شرعى لنا. — القَاَئِد عَبْداللّه ◼️◾▪️ (@alqaeed36) June 10, 2025 Translation: They have the Mediterranean Sea, their coasts, and international waters to launch from to Gaza. Anything beyond that is not allowed. Egypt will not be a land of chaos. Egypt is a sovereign state, and everyone must respect that. We will not allow any threat to our security. This is our legitimate right. "Will the convoy save Gaza or is its goal media hype? The issue is not easy but rather carefully planned and the goal is to embarrass Egypt and not Israel," he continued. His sentiment was echoed by other pro-government voices on social media, who accused the convoy volunteers of being "actors", 'exploit[ing] the Palestinian cause', and posing a national security threat. دا مخطط له من دواعش الإخوان لإدخال مصر في مواجهة مع امريكا و النيل من سمعتها. على مصر التعامل بحزم و لي عايز يروح غزة عندهم البحر أو على الأقل التنسيق مع البلد الممر و ليس من هب و دب يدخل. — ❤️🇲🇦 سارة 🇸🇦❤️🇦🇪 (@Schauer100) June 10, 2025 Translation: This is a plot by the Muslim Brotherhood's ISIS members to pit Egypt against America and tarnish its reputation. Egypt must deal firmly, and anyone who wants to go to Gaza can go to the sea, or at least coordinate with the transit country, so that anyone who wants to go can't enter. Another prominent presenter, Hossam al-Ghamry, said the convoy was a "clear ploy" by the Muslim Brotherhood in a series of posts on X. "If the convoy reaches the borders with Gaza, it will force [Israeli Prime Minister Benjamin] Netanyahu to occupy Sinai to secure his borders and expel Palestinians into Egypt," he said. 'We wish the heroes safety' Many Egyptians on social media have countered these posts with comments voicing their support for the movement. Several people commented directly under Moussa's post, calling the land route the "logical" and "most appropriate" route given that Gaza would not be able to receive international ships. Others countered the claims that the convoy was a publicity stunt. بناءا على تغريدة هالعرص الأمنجي فالنظام المصير ممانع لدخول القافلة — Suhayb (@ThisIsSuhayb) June 10, 2025 Translation: Based on this security official's tweet, the regime is preventing the convoy from entering. One Facebook user commented: "the convoy includes doctors and elderly men and women that do not care for the media but are trying to do what they can". Some users were more harsh in their criticism. "The regime's mouthpiece claims that the land convoy is a trap set to put Egypt in an embarrassing position," said one user. "We wish the heroes of the convoy safety until they reach Gaza. And they bring in the aid piled up in Rafah." Others argued that Moussa's post was an indication that the Egyptian goverment would block the convoy. The volunteers for the Sumud convoy, led by the Joint Action for Palestine, reportedly include trade union and political figures, as well as human rights activists, athletes, lawyers, doctors, journalists and members of youth organisations. The group is part of the larger Global March to Gaza movement, which includes approximately 2,000 to 3,000 activists from around 50 countries who are expected to fly into Cairo on 12 June. Both the activists and volunteers on the Sumud convoy are expected to coordinate to march to the Rafah crossing together, a move they hope will pressure the international community to force Israel to end the bombardment and siege of Gaza, which has killed over 55,000 Palestinians and wounded over 127,000 more.
Middle East Eye
13 hours ago
- Middle East Eye
Gaza-bound activist convoy reaches Tripoli
A Gaza-bound convoy consisting of over 7,000 pro-Palestine activists from North Africa has reached the Libyan capital of Tripoli. The 300-vehicle "Sumoud" convoy, meaning steadfastness in Arabic, left Tunis on Monday before crossing the Libyan border on Tuesday. They plan to cross to Egypt by Thursday, and continue on to the city of Rafah near the Gaza border in order to spotlight Israel's crippling siege on the territory. Organisers have said Egyptian authorities have not yet provided passage to enter the country.
Web Release
2 days ago
- Web Release
EBRD supports Egypt with first private-to-private electricity contracts
Energy market reform is taking a major step forward in Egypt as the government approves the first bilateral power purchase agreements between private generators and consumers. As part of a pilot of the private-to-private (P2P) rules, developed with technical support from the EBRD to the Egyptian Electric Utility and Consumer Protection Regulatory Agency (Egypt ERA) and approved last year, four renewable energy projects with a combined capacity of 400 MW have been approved to contract directly with end-consumers of electricity. The four approved projects are: KarmSolar, which will develop a 100 MW solar plant to supply electricity to Suez Steel. AMEA Power, which is building a solar facility of the same size to serve BEFAR Group and the Suez Canal Container Terminal. TAQA PV, which will install 100 MW of hybrid capacity (solar and wind) to power operations at Ezz Steel. Enara, developing a hybrid plant to deliver 100 MW to the El Alamein Silicone Products Company and Helwan Fertilizers. The P2P rules set out the conditions under which generators can use the power grid to sell electricity directly to consumers, a major departure from the existing single-buyer model and a significant step forward in Egypt's efforts to liberalise its electricity market – a goal set out in the 2015 Electricity Law. This approach introduces competition into the electricity sector, expands consumer choice and promotes private investments in renewable energy. It also introduces a path for Egyptian businesses, especially those that are energy-intensive and focused on the export market, to sign agreements directly with renewable energy producers that are increasingly required to prove their low carbon product credentials, for example green hydrogen destined for the European market. Furthermore, given the electricity generation under these contracts will be entirely privately financed, the P2P scheme represents an important route for Egypt to scale up electricity production without the need for government contracts. Mark Davis, the EBRD's managing director for the southern and eastern Mediterranean region, said: 'This milestone shows how the right regulatory framework can unlock private investment and drive the energy transition. By enabling companies to procure green electricity directly from producers, Egypt is opening new opportunities for industry and enhancing its competitiveness. We are proud to have supported EgyptERA in designing this pioneering scheme and will continue working closely as projects move towards implementation.' Dr Mohamed Mousa Omran, the chairman of EgyptERA, said: 'This pilot marks an important step towards a more competitive electricity market in Egypt. By enabling direct agreements between producers and consumers, we are creating space for the private sector to play a greater role in meeting the growing demand for clean energy in Egypt. This is essential for accelerating the deployment of renewables at scale and achieving our long-term energy goals.' The EBRD's technical support is generously funded by the Swiss State Secretariat for Economic Affairs (SECO), a key partner for the Bank in many of its ongoing policy engagements that aim to decarbonise the energy sectors of its countries of operation. This work is being delivered under the EBRD's Renewable Energy Programme, which is currently supporting 16 countries in their development of market-based mechanisms to mobilise private investments. To date, activities under this programme have delivered over 8,500 MW of renewable energy capacity being awarded in 8 countries.
