Latest news with #El-Shimy
Daily News Egypt
2 days ago
- Business
- Daily News Egypt
Public Enterprises Ministry launches overhaul plan to modernize affiliated companies: El-Shimy
Minister of Public Enterprises Sector Mohamed El-Shimy has announced the implementation of a comprehensive modernization plan for companies affiliated with the ministry. The plan centers on digital transformation, technology localization, and advancing Egypt's industrial self-reliance by integrating smart manufacturing solutions and forging practical partnerships. El-Shimy made the announcement during a workshop on spare parts manufacturing using 3D printing and digital machining, held at the Digital Manufacturing Centre (DMC) inside the Engine Factory of the Arab Organization for Industrialization (AOI) in Helwan. The event was attended by AOI Chairperson Mokhtar Abdel Latif, Deputy Minister of Housing, Utilities, and Urban Communities Sayed Ismail, and representatives from Immensa, a company specialized in digital spare parts manufacturing using advanced 3D printing technologies. During the workshop, both El-Shimy and Abdel Latif emphasized the need to fully leverage national manufacturing capabilities and strengthen cooperation in the production of industrial spare parts through advanced technologies. These efforts are aligned with Egypt's Vision 2030 for sustainable development and industrial modernization. El-Shimy underscored the urgency of greater collaboration and integration across national industrial institutions. He stressed that adopting modern technologies—such as 3D printing—is now essential for enhancing Egypt's manufacturing competitiveness, reducing import dependency, and creating high-value employment opportunities. He also praised AOI's longstanding national role in supporting the state's strategy for modernization, renewal, and technology localization. El-Shimy described the workshop as a tangible step toward deepening industrial integration among government entities and promoting private sector cooperation in Egypt's digital transformation journey. AOI Chairperson Mokhtar Abdel Latif echoed these sentiments, highlighting that AOI had recognized the value of these emerging technologies early on and took proactive steps by establishing the DMC. The center is equipped with advanced global technologies and highly trained technical staff, aligning with Fourth Industrial Revolution standards. The DMC has successfully localized manufacturing technologies for pumps of various types and applications and is capable of meeting a wide range of industrial demands at globally competitive quality levels, Abdel Latif added. He affirmed AOI's readiness to enhance cooperation with both public and private sector entities, in coordination with academic and research institutions. The goal is to maximize the use of advanced capabilities at the DMC and across all AOI factories to address national industrial needs. A comprehensive inventory of spare part requirements is currently being compiled, with manufacturing plans already underway. Abdel Latif reaffirmed that AOI has all the capabilities needed to meet these demands using advanced manufacturing techniques, in line with President Abdel Fattah Al-Sisi's directives to raise the share of local manufacturing, localize strategic technologies, reduce imports, and promote the 'Made in Egypt' initiative. He explained that 3D printing and digital machining technologies enable on-demand, high-precision production of complex or obsolete spare parts that are often unavailable in the market. The technology has already proven effective across a wide range of sectors, including automotive, aerospace, industrial equipment, and medical devices.
Daily News Egypt
29-05-2025
- Business
- Daily News Egypt
Egypt, US partner to launch global pharmaceutical manufacturing, export venture
Egypt has signed a major joint venture agreement with US-based Dawah Pharma to manufacture and export pharmaceutical products and nutritional supplements to global markets, with a strategic focus on North America and Europe. The deal marks a significant milestone in Egypt's push to expand its pharmaceutical exports and attract foreign investment to its health sector. Prime Minister Mostafa Madbouly witnessed the signing ceremony, which took place in the presence of Deputy Prime Minister for Human Development and Minister of Health and Population Khaled Abdel Ghaffar, Minister of Public Enterprise Sector Mohamed El-Shimy, Head of the Egyptian Drug Authority Ali El-Ghamrawy, and Hisham Setit, Head of the Unified Procurement Authority for Medical Supplies and Technology. The agreement was signed by Ashraf El-Khouly, Executive Managing Director of the Egyptian Holding Company for Pharmaceuticals—affiliated with the Ministry of Public Enterprise Sector—and Hossam Abdel Maksoud, Chairman of Dawah Pharma. Prime Minister Madbouly said the agreement reflects Egypt's broader strategy to enhance national industries, with the pharmaceutical sector identified as a key priority. He described the partnership as a strong vote of confidence in the quality and potential of Egyptian manufacturing, particularly in the medical field. Minister El-Shimy emphasized that the partnership follows major investments to modernize the holding company's infrastructure, upgrade production lines, and align operations with international Good Manufacturing Practices (GMP). He described the venture as a pivotal step in Egypt's plan to boost pharmaceutical exports, strengthen international collaboration, and increase foreign direct investment. Under the agreement, the new joint venture will manufacture and export a wide range of products including ampoules, nutritional supplements, sterile injections, ophthalmic preparations, and over-the-counter (OTC) medications. The first phase will focus on exporting six pre-approved dietary supplements to the US market—an unprecedented move for the Holding Company for Pharmaceuticals, after meeting all relevant international regulatory and quality benchmarks. The venture will leverage state-of-the-art manufacturing technologies for a diverse range of dosage forms including syrups, tablets, ampoules, pre-filled syringes, and transdermal patches. This is expected to accelerate global market entry for Egyptian-made products and support long-term growth for the company and its subsidiaries. El-Shimy affirmed that the new company will comply with the most stringent international regulations, particularly those set by the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA), to ensure the competitiveness of Egyptian products in North America, Europe, and emerging markets in Africa and Asia. As per the terms of the agreement, the Egyptian Holding Company for Pharmaceuticals will hold a 40% stake in the joint venture, while Dawah Pharma will own 60%. The partnership will also spearhead efforts to open new international markets for Egyptian pharmaceutical exports, solidifying Egypt's position as a regional hub for high-quality medical manufacturing.
Daily News Egypt
28-05-2025
- Automotive
- Daily News Egypt
PM orders revival of El Nasr Automotive, launch of globally rated bus production initiative
Prime Minister Mostafa Madbouly held a meeting on Tuesday with Minister of Public Enterprises Sector Mohamed El-Shimy to review the latest developments across the ministry's portfolio, including efforts to revitalize strategic industries and expand cooperation with the private sector. At the beginning of the meeting, Madbouly reaffirmed the state's commitment to improving the performance and governance of public sector companies, enhancing their competitiveness, and maximizing the returns on state-owned assets. These priorities, he said, are aligned with Egypt's Vision 2030 and its goals for sustainable economic development. The Prime Minister specifically directed the re-launch of El Nasr Automotive, one of Egypt's historically significant industrial brands, as well as the launch of a new bus manufacturing initiative that meets international quality standards. These projects are part of a broader strategy to localize transportation manufacturing, attract investment, and boost exports. Madbouly also emphasized the importance of leveraging private-sector partnerships to improve operational efficiency and generate higher returns across state-owned enterprises. He called for offering a greater number of projects to private investment, allowing for more effective management while preserving state interests. Minister El-Shimy confirmed that the ministry's current strategy is grounded in comprehensive reform and modernization efforts to enhance the sustainability and economic contribution of affiliated companies. He noted that the ministry oversees six holding companies, which collectively manage 63 subsidiaries employing more than 100,000 workers. Additionally, the ministry holds equity in 106 joint-stock companies. Outlining the ministry's work plan for the 2024–2027 period, El-Shimy explained that it is guided by Egypt Vision 2030, the State Ownership Policy Document, and the Government Work Program. Under this framework, the government will reduce or exit investments in certain sectors, maintain a limited presence in others, and continue direct involvement in strategically important industries—many of which will be developed through joint public-private projects. El-Shimy presented the ministry's performance report, emphasizing that its overarching goal is to achieve the highest possible return on public investments by enhancing the competitiveness of affiliated companies both locally and internationally. He stressed that the ministry is committed to modernizing management systems, adopting advanced technologies, and investing in workforce development to meet global standards. He also noted that the ministry is currently overseeing 97 strategic projects across sectors such as textiles, pharmaceuticals, chemicals, metallurgy, tourism, and trade. These projects are designed to revive industrial production, expand export capacity, and integrate more deeply into global value chains. According to El-Shimy, financial performance across Public Enterprises Sector companies has shown consistent improvement over the past decade. From fiscal year 2014/2015 to the current fiscal year, revenues and net profits have steadily increased. He reported that the value of goods and services exported by these companies reached $860 million by the third quarter of fiscal year 2024/2025, compared to $668 million in the previous year. He added that over the past 10 years, non-tax revenues from Public Enterprises Sector companies have grown by more than 347%, largely due to increased investment returns and improved efficiency. In closing, the minister highlighted the role of public sector companies in supporting national development priorities, including the revival of manufacturing, the development of specialized industries such as pharmaceuticals and chemicals, the expansion of urban and tourism infrastructure, and the growth of local trade. The government, he said, remains committed to transforming these companies into dynamic, competitive entities that contribute meaningfully to the national economy. As part of the government's push to revive Egypt's industrial base, Minister El-Shimy provided a detailed update on the restructuring and development plans for companies affiliated with the cotton, spinning, and weaving sector. These efforts fall under the broader national strategy to modernize the spinning and weaving industry and enhance its competitiveness both locally and internationally. The minister noted that the first phase of the development plan—accounting for 18% of the total scope—has been fully completed. The second phase, representing 28% of the plan, has reached 70% completion and is expected to be finalized within the current year. The third and largest phase, covering 54% of the overall project, is currently 54% complete and on track for completion by 2026. These phases are not only focused on infrastructure and equipment upgrades but also address the supply chain for raw materials, including long- and short-staple cotton and polyester. Turning to the metallurgical industries, El-Shimy highlighted the successful revival of El Nasr Automotive Company, marking a milestone in Egypt's effort to localize the automotive industry. Bus production has resumed at international quality standards, with the factory now producing five buses per week, mainly for tourist transport firms. Additional deliveries are underway, including electric buses and minibuses. The infrastructure at Bus Factories 3 and 4, as well as at passenger car facilities, has been fully upgraded, including state-of-the-art painting, body assembly, and final assembly lines. Projects also include battery and chassis assembly operations. In the steel sector, Delta Steel Company completed construction of iron and steel foundries with an annual production capacity of 10,000 tonnes. New rolling mills have been acquired, while El Nasr Glass and Crystal Company has improved its embossed glass production. At the Mines and Quarries Company, modern crushing equipment and new production lines for raw materials have been installed. Further development projects are underway at Egyptalum in Naga Hammadi. These include the procurement and installation of a wire production machine with a monthly capacity of 6,000 tons, the construction of a 50,000-ton alumina storage silo, and the establishment of a new production line for pharmaceutical-grade aluminium discs. Additionally, Egyptian Ferroalloys Company in Aswan is undergoing a major overhaul of its fourth furnace, with future expansion plans already in the pipeline. A new industrial complex dedicated to phosphate ore concentration is also being established at Nasr Mining Company, aiming to increase value-added output from Egypt's mineral resources. The minister also addressed ongoing efforts to maximize the value of public business assets and strengthen private-sector participation in real estate and infrastructure projects. A key example is the development of New Heliopolis City by Misr El Gadida for Housing and Development. The 300-acre urban development includes a fully developed marketing strategy, with projected revenues from the first phase estimated at around EGP 4bn. These initiatives reflect a multi-sectoral approach to reform, designed to revitalize national industries, promote export-oriented production, and foster effective collaboration between the public and private sectors in line with Egypt's long-term economic goals.
See - Sada Elbalad
23-04-2025
- Business
- See - Sada Elbalad
Egypt, Turkey Explore Deeper Economic, Investment Co-op
Nada Mustafa Egypt's Minister of Public Business Sector, Mohamed El-Shimy received Turkish Ambassador Salih Mutlu Şen, along with his accompanying delegation at the ministry's headquarters in the New Administrative Capital (NAC). The meeting came as part of ongoing efforts to strengthen economic and trade relations between the two countries. During the meeting, the two sides discussed ways to enhance cooperation in various mutually beneficial fields, particularly in industry, investment, and knowledge exchange. They also reviewed available investment opportunities within Egypt's public business sector, and explored prospects for partnerships between ministry-affiliated companies and Turkish firms in sectors such as textiles, fertilizers, paper manufacturing, and hospitality. At the outset of the meeting, El-Shimy welcomed Turkish ambassador and his delegation, highlighting the deep historical ties between Egypt and Turkey. He also reaffirmed Egypt's commitment to advancing cooperation that serves shared interests and supports economic development in both countries. Moreover, El-Shimy pointed out the existence of numerous promising investment opportunities across the diverse fields of the ministry's affiliated companies. Furthermore, he stressed Egypt's openness to partnerships with both local and foreign private sector investors, and extended a welcome to further Turkish investment in the Egyptian market. El-Shimy also noted the incentives and facilitation measures provided by the state to attract foreign investors. For his part, Şen expressed Turkey's keen interest in expanding avenues of cooperation with Egypt. He praised Egypt's recent economic reforms and the vast potential of its public business sector, acknowledging the significant opportunities for collaboration across various industries. Turkish Ambassador also emphasized the enthusiasm of Turkish companies to broaden their investment footprint in Egypt. Furthermore, both sides also agreed to organize bilateral meetings between representatives of companies from both countries, in addition to arranging field visits for Turkish business leaders to a number of factories and companies affiliated with the ministry, to explore potential investment opportunities on the ground. Minister of Public Business Sector and Turkish Ambassador Minister of Public Business Sector and Turkish Ambassador read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Daily News Egypt
17-04-2025
- Business
- Daily News Egypt
Minister of Public Enterprises explores investment opportunities with Denmark
Mohamed El-Shimy, Minister of the Public Enterprises Sector, met with Frej Jackson, Chargé d'Affaires at the Danish Embassy in Cairo, at the Ministry's headquarters in the New Administrative Capital to discuss strengthening economic and commercial cooperation between Egypt and Denmark. The meeting was attended by a delegation of senior Danish officials and representatives from leading Danish companies operating in Egypt across several sectors, including pharmaceuticals, food and agriculture, energy, transport, shipping, mining, cement, and software. Also in attendance was Hanzada Farid, Senior Trade Adviser and Regional Director for the Energy Sector at the Danish Embassy. The discussions focused on exploring avenues for collaboration between Danish firms and companies affiliated with the Ministry of Public Enterprises Sector. Minister El-Shimy emphasized the depth of Egyptian-Danish relations and affirmed the Ministry's openness to partnerships with Danish businesses. He also highlighted the numerous investment opportunities available across the Ministry's affiliated companies, in line with ongoing development plans aimed at enhancing operational efficiency, corporate governance, productivity, and competitiveness. El-Shimy further stressed the importance of exchanging expertise and drawing on Denmark's advanced industrial and technological capabilities to support Egypt's transformation efforts. He noted that such cooperation would help establish long-term, sustainable partnerships with both local and international private sector players, while attracting investments that bolster the national economy. For his part, Chargé d'Affaires Frej Jackson conveyed Denmark's strong interest in expanding cooperation with Egypt. He pointed to the elevated strategic partnership between the two countries following President Abdel Fattah Al-Sisi's visit to Denmark at the end of last year. Jackson affirmed that Danish companies are eager to scale up their presence in Egypt, encouraged by the country's growth potential and strategic geographic position.
