Latest news with #FederationofEgyptianIndustries
Egypt Today
3 days ago
- Business
- Egypt Today
Egypt's pharmaceutical sector gearing up to inject $80M to bolster local production
Cairo – May 29, 2025: Egypt's pharmaceutical industry is preparing to invest approximately LE 4 billion ($80 million) this year to boost domestic production, with 20 new manufacturing lines in the pipeline. The initiative aligns with a national strategy to cut reliance on imported medicines and reinforce the country's local pharmaceutical capabilities. The expansion will bring the total number of operational pharmaceutical production lines across Egypt to 810, according to Gamal El Leithy, Chairman of the Chamber of Pharmaceutical Industry at the Federation of Egyptian Industries, speaking to Asharq Business. This increase is expected to play a key role in replacing approximately $3 billion worth of annual pharmaceutical imports with locally produced alternatives. Local manufacturers currently supply around 91 percent of the country's pharmaceutical needs. The sector has seen robust growth, with total medicine sales surging by over 40 percent last year to reach LE 307 billion. Pharmaceutical sales in January and February alone climbed to LE 62 billion, up from about LE 40 billion in the same period the previous year. The growth was largely driven by an uptick in production volume, particularly in packaged medications, according to previous comments by Ali El-Ghamrawy, head of the Egyptian Drug Authority. Looking ahead, Egypt is aiming to localize the manufacturing of high-priority and specialized medicines. El Leithy said key targets include cancer treatments, immunodeficiency drugs, medical imaging dyes, and infant formula. These efforts form part of a strategic national plan to raise pharmaceutical exports to $3 billion by 2030. Recent export data suggests that momentum is already building. In the first quarter of 2025, exports of pharmaceutical and medical products rose 25 percent year-on-year, reaching $205 million, according to figures from the General Organization for Export and Import Control.
Egypt Independent
25-05-2025
- Business
- Egypt Independent
FEI: Decision to establish two textile cities in Upper Egypt to support exports
Board Member of the Textile Industries Chamber at the Federation of Egyptian Industries (FEI) Mohamed Fathi Abul Fotouh asserted that the recent decision to establish two integrated textile cities in Upper Egypt is designed to attract industries moving away from some countries, especially from China, with an aim to boost exports. In an interview with Egypt's Channel One, Abul Fotouh emphasized Egypt's logistical advantages, including its modern port infrastructure and transport networks, which position the country as a favorable destination for global textile investment. 'Egypt has signed numerous agreements with African and Arab nations and several EU countries, thus supporting a momentum in the industry of textiles and ready-made clothes,' he said. 'Recent customs reforms have made Egypt more attractive to Chinese investors, many of whom are now increasing their textile investments in the country,' he said. The textile cities will be located in Wadi al-Saririya in Minya and North Fayoum Industrial Zone. This fell within the framework of the state's plan to develop Upper Egypt and secure decent jobs for people there in addition to upgrading the industry of ready-made clothes and textiles.
Fibre2Fashion
14-05-2025
- Business
- Fibre2Fashion
Egypt sees significant growth in textile-garment sector: Trade body
Egypt's textile and garment sector is witnessing significant growth, backed by global economic shifts, a favourable investment climate and a surge in foreign direct investment (FDI), according to Mohamed Abdel Salam, chairperson of the Readymade Garments and Textiles Chamber at the Federation of Egyptian Industries. Recent studies highlight key advantages: electricity costs average $0.07/kWh in the country compared to $0.12 in many other markets. Water prices range between $0.30 and $0.50 per cubic metre, while in competing countries they often exceed $1.50. Construction costs in Egypt range from $500 to $800 per square metre, nearly half of the cost elsewhere. Value-added tax stands at 14 per cent compared to up to 18 per cent in other nations, and wages remain competitive relative to regional benchmarks. Egypt's textile-garment sector is seeing significant growth, backed by global economic shifts, a favourable investment climate and a surge in FDI, Mohamed Abdel Salam, head of the Readymade Garments and Textiles Chamber at the Federation of Egyptian Industries said. Cost benefits in construction, power, water and VAT have led several global apparel players to initiate or expand operations in Egypt. 'These cost efficiencies have led numerous global players in the apparel industry to initiate or expand operations in Egypt,' Abdel Salam was quoted as saying by domestic media reports. Turkish industrial conglomerate Shahinler Group is actively coordinating with Egyptian authorities to explore new investment opportunities. It is mulling over relocating part of its manufacturing operations, specifically in cotton, spinning, weaving and readymade garment production, to Egypt. Shahinler has already invested $50 million in the country. The group's expansion in Egypt is expected to generate up to 3,000 new jobs and annual production from the new facilities is projected to reach 3 million pieces of formal wear. Fibre2Fashion News Desk (DS)
Zawya
12-05-2025
- Business
- Zawya
Egypt's gold exports hit $3.2bln in Q1 2025: Wasif
Egypt's gold exports reached a record $3.2bn during the first quarter (Q1) of 2025, reflecting a significant leap in the country's jewelry industry, according to Ihab Wasif, Head of the Gold and Precious Metals Division at the Federation of Egyptian Industries. Wasif attributed the exceptional performance to three key factors: rising global demand for gold amid heightened geopolitical tensions, substantial improvements in local jewelry design and manufacturing quality, and the Division's increased participation in international exhibitions and trade shows. Speaking on Sunday, Wasif explained that the surge in gold exports aligns with the global shift toward gold as a safe-haven asset in light of escalating trade conflicts and international instability. This environment has created new openings for Egyptian products, particularly in markets seeking both quality and reliability. He emphasized that Egypt's jewelry industry has undergone a notable transformation, with designs and craftsmanship now rivaling international standards. This competitive edge has enabled Egyptian exports to penetrate high-value markets such as Saudi Arabia and the UAE, in addition to new destinations in Europe and North America. Marketing efforts have also played a critical role. 'Our presence at international exhibitions has significantly increased brand visibility and built confidence in Egyptian gold among major foreign importers,' Wasif said. Breaking down the quarterly divs, he noted that exports totaled $929.5 million in January, rising to $1.804bn in February and maintaining strong momentum through March. The UAE, Saudi Arabia, and Turkey were the top importing countries, with noticeable growth in exports to Europe and the United States. Wasif highlighted these achievements as a fulfillment of the Division's pledge to President Abdel Fattah Al-Sisi to hit the highest export targets in the sector's history. He credited strong governmental support—particularly from the Ministries of Supply, Industry, and Investment, as well as the Central Bank and the Assay and Weights Authority—for enabling the industry's progress. Egypt aims to rank among the world's top 10 gold-exporting countries by 2027. Wasif noted that Egypt's global position in jewelry exports has already improved significantly, rising from 94th in 2022 to 54th in 2023, with plans to climb further in the next two years. He also pointed to the Central Bank of Egypt's decision to extend the export proceeds payment period to 75 days as a key facilitator for the recent export boom. 'This policy gave exporters much-needed flexibility in navigating foreign markets,' he said. The Division now plans to formally request a return to the original legal framework that allows for a 180-day payment period—a move Wasif believes would further enhance Egypt's export performance and global competitiveness. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. ( Daily News Egypt
Daily News Egypt
12-05-2025
- Business
- Daily News Egypt
Egypt's gold exports hit $3.2bn in Q1 2025: Wasif
Egypt's gold exports reached a record $3.2bn during the first quarter (Q1) of 2025, reflecting a significant leap in the country's jewelry industry, according to Ihab Wasif, Head of the Gold and Precious Metals Division at the Federation of Egyptian Industries. Wasif attributed the exceptional performance to three key factors: rising global demand for gold amid heightened geopolitical tensions, substantial improvements in local jewelry design and manufacturing quality, and the Division's increased participation in international exhibitions and trade shows. Speaking on Sunday, Wasif explained that the surge in gold exports aligns with the global shift toward gold as a safe-haven asset in light of escalating trade conflicts and international instability. This environment has created new openings for Egyptian products, particularly in markets seeking both quality and reliability. He emphasized that Egypt's jewelry industry has undergone a notable transformation, with designs and craftsmanship now rivaling international standards. This competitive edge has enabled Egyptian exports to penetrate high-value markets such as Saudi Arabia and the UAE, in addition to new destinations in Europe and North America. Marketing efforts have also played a critical role. 'Our presence at international exhibitions has significantly increased brand visibility and built confidence in Egyptian gold among major foreign importers,' Wasif said. Breaking down the quarterly figures, he noted that exports totaled $929.5 million in January, rising to $1.804bn in February and maintaining strong momentum through March. The UAE, Saudi Arabia, and Turkey were the top importing countries, with noticeable growth in exports to Europe and the United States. Wasif highlighted these achievements as a fulfillment of the Division's pledge to President Abdel Fattah Al-Sisi to hit the highest export targets in the sector's history. He credited strong governmental support—particularly from the Ministries of Supply, Industry, and Investment, as well as the Central Bank and the Assay and Weights Authority—for enabling the industry's progress. Egypt aims to rank among the world's top 10 gold-exporting countries by 2027. Wasif noted that Egypt's global position in jewelry exports has already improved significantly, rising from 94th in 2022 to 54th in 2023, with plans to climb further in the next two years. He also pointed to the Central Bank of Egypt's decision to extend the export proceeds payment period to 75 days as a key facilitator for the recent export boom. 'This policy gave exporters much-needed flexibility in navigating foreign markets,' he said. The Division now plans to formally request a return to the original legal framework that allows for a 180-day payment period—a move Wasif believes would further enhance Egypt's export performance and global competitiveness.
