Latest news with #GoldenLicences
Zawya
13-05-2025
- Business
- Zawya
Industrial Ministerial Group reviews free zone, golden licence requests prior to Egypt's cabinet consideration
Egypt - The 23rd meeting of the Industrial Development Ministerial Group was chaired by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir. The meeting was attended by Minister of State for Military Production Mohamed Salah El-Din, Minister of Electricity and Renewable Energy Mahmoud Ismat, Minister of Public Enterprises Sector Mohamed El-Shimy, Minister of Environment Yasmine Fouad, Minister of Investment and Foreign Trade Hassan Al-Khatib, President of the Federation of Egyptian Industries Mohamed El-Sweidy, Head of the Industrial Development Authority Nahed Youssef, as well as representatives from various ministries, authorities, and senior leaders from the Ministries of Industry and Transport. At the outset, Al-Wazir clarified that, in alignment with the directives of President Abdel Fattah Al-Sisi and Prime Minister Mostafa Madbouly, the Industrial Development Ministerial Group is tasked with reviewing all requests submitted to the Cabinet regarding the establishment of free zones or the issuance of golden licences. These requests must first be evaluated and approved by the Group before being presented to the Cabinet. He stressed that all the relevant ministers and authorities involved in the evaluation and approval process are represented within the Ministerial Group to ensure efficient coordination and decision-making. Al-Wazir also highlighted the government's commitment—under the direction of the political leadership and the Prime Minister—to attracting foreign and Arab private investment. This includes encouraging partnerships with public sector factories, optimizing the use of available resources, and maximizing the return on underutilized state-owned assets. The overarching goal is to benefit the Egyptian economy while creating attractive investment opportunities. During the meeting, the committee reviewed a request from a private sector company seeking to partner with the Misr Helwan Spinning and Weaving Company, a subsidiary of the Holding Company for Cotton, Spinning, Weaving, and Clothing. The proposed partnership would allow the private entity to utilize a portion of the factory to produce its goods. The committee approved the request, with the Minister reaffirming the Ministry of Industry's firm commitment to the political leadership's directives to safeguard state-owned assets—especially industrial infrastructure. He emphasized that metal structures and concrete buildings in public sector factories and facilities should be preserved and maintained rather than demolished, to make full use of existing infrastructure and reduce the capital cost of establishing new production facilities. 'This approach,' Al-Wazir stated, 'will significantly reduce the financial burden of building new plants and launching industrial projects from scratch.' He added that the Ministry is working closely with relevant stakeholders to develop clear technical and engineering standards for assessing the current condition of industrial facilities, determining the most effective methods for maintenance and modernization. He further explained that underutilized or adjoining land will be developed either internally or through partnerships with the private sector, via leasing agreements or by selling land at its fair market value. This strategy aims to enhance the value of existing assets and make them a cornerstone of the country's sustainable industrial development plans. The group also reviewed a request from a company applying for a golden licence to establish a soda ash production facility in New Alamein, with an estimated investment of $640 million. The project's economic indicators and environmental assessment were presented during the meeting. The committee agreed on the necessity of conducting a comprehensive study covering key aspects such as electricity consumption, operational costs, environmental mitigation measures, and sludge management systems. Al-Wazir announced that a subcommittee would be formed from within the Ministerial Group to evaluate the project in detail and ensure it complies with environmental regulations. He emphasized that no industrial waste would be permitted to be discharged into the sea or injected underground—regardless of the project's economic benefits—in order to protect groundwater, soil quality, and ecological balance. Compliance with environmental standards, he noted, is a non-negotiable prerequisite for licensing and operating any industrial project. The Ministry of Industry, he added, adheres to a clear policy that balances economic development with environmental sustainability. The Minister also highlighted a study prepared by the Arab Organization for Industrialization proposing the establishment of an MDF (medium-density fiberboard) production plant using palm fronds. The proposed facility, which would have an annual capacity of 100,000 cubic meters, is to be built in partnership with German investors in the South Valley Governorate, home to more than 4 million palm trees. The initiative aims to convert palm waste into industrial raw materials, instead of burning or burying it. Al-Wazir underscored the importance of developing an integrated industry around palm waste, suggesting that the existing Qena facility be used as a pilot site for six months to test production processes. If successful, the pilot would pave the way for a full-scale manufacturing plant. Additionally, the meeting reviewed a golden licence request for an agricultural processing project in Sadat City. The request was approved, contingent on the completion of necessary industrial permits. The Minister reaffirmed that golden licences are reserved for strategic projects, and emphasized the need for expedited issuance of all required approvals to facilitate timely implementation. A separate study on Egypt's mining resources was also presented, highlighting their critical role in supporting the country's industrial development. Al-Wazir stressed the importance of maximizing value-added production and increasing the export of processed minerals—particularly calcined kaolin—after satisfying domestic demand. The study recommended measures to raise the concentration of phosphate ore to above 25% in order to produce higher-value products and support the local manufacturing of fertilizers and chemicals. It also addressed challenges related to the availability of strategic raw materials, especially given the global increase in demand. The Minister emphasized the necessity of minimizing waste in the use of high-quality limestone and promoted alternative uses such as producing concrete bricks from recycled materials. The meeting concluded with a discussion on the potential for expanding the white sand sector and associated mineral industries. The committee recommended upgrading existing mining infrastructure, expanding production of rock wool, and enhancing connectivity between industrial zones and mining areas to ensure efficient resource utilization. These efforts aim to boost the national economy and strengthen the competitiveness of local industries.
Zawya
30-04-2025
- Business
- Zawya
Egypt's investment authority GAFI hosts forum with China to link business, innovation leaders
Egypt's General Authority for Investment and Free Zones (GAFI) hosted a forum with a Chinese delegation to explore linking the Egyptian business community with innovation leaders in China and enhance investment partnerships, GAFI said in a statement. The Egyptian-Chinese Forum for Enhancing Investment, Innovation and Entrepreneurship Partnerships featured a delegation from Shanghai, described as China's economic capital. It included dozens of university professors and business leaders led by Xiongwen Lu, Dean of the School of Management at Fudan University, founding director of its Marketing Research Centre, and a board member of several multinational and large industrial companies in China. Lu affirmed Egypt's readiness to receive significant Chinese investments in the near future, stating Fudan University would use its connections within the Chinese business community to promote investment opportunities in Egypt. He highlighted the depth of bilateral ties, noting the upcoming 70th anniversary of diplomatic relations next year. He recalled the 2014 elevation of the relationship to a comprehensive strategic partnership, signed in the presence of President Abdel Fattah Al-Sisi and President Xi Jinping, and Egypt's early participation in the Belt and Road Initiative. Discussions at the forum covered ways to connect Egyptian industries with Chinese technological advancements. This comes amid growing interest from Chinese businesses in investing in Egypt, attributed to the country's recent infrastructure and legislative developments aimed at attracting investment, GAFI said. Egypt's competitive advantages, including skilled labour, strategic location, and trade agreements providing access to around 3 billion consumers, were also noted. Hossam Heiba, CEO of GAFI, stated that 'localising technology and supporting creative ideas is one of the most important goals of the Egyptian government.' He cited the granting of Golden Licences to Chinese companies Haier and Midea for their decision to localise industrial technology in Egypt. Heiba also mentioned that GAFI has trained over 300,000 entrepreneurs in the past five years, many contributing to the economy and its connection to global tech trends. Furthermore, Heiba announced that GAFI 'seeks to establish technology innovation centres in its affiliated free and investment zones, in partnership with countries exporting investment to Egypt, foremost among them the People's Republic of China.' © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. ( Daily News Egypt
Daily News Egypt
29-04-2025
- Business
- Daily News Egypt
Egypt's investment authority GAFI hosts forum with China to link business, innovation leaders
Egypt's General Authority for Investment and Free Zones (GAFI) hosted a forum with a Chinese delegation to explore linking the Egyptian business community with innovation leaders in China and enhance investment partnerships, GAFI said in a statement. The Egyptian-Chinese Forum for Enhancing Investment, Innovation and Entrepreneurship Partnerships featured a delegation from Shanghai, described as China's economic capital. It included dozens of university professors and business leaders led by Xiongwen Lu, Dean of the School of Management at Fudan University, founding director of its Marketing Research Centre, and a board member of several multinational and large industrial companies in China. Lu affirmed Egypt's readiness to receive significant Chinese investments in the near future, stating Fudan University would use its connections within the Chinese business community to promote investment opportunities in Egypt. He highlighted the depth of bilateral ties, noting the upcoming 70th anniversary of diplomatic relations next year. He recalled the 2014 elevation of the relationship to a comprehensive strategic partnership, signed in the presence of President Abdel Fattah Al-Sisi and President Xi Jinping, and Egypt's early participation in the Belt and Road Initiative. Discussions at the forum covered ways to connect Egyptian industries with Chinese technological advancements. This comes amid growing interest from Chinese businesses in investing in Egypt, attributed to the country's recent infrastructure and legislative developments aimed at attracting investment, GAFI said. Egypt's competitive advantages, including skilled labour, strategic location, and trade agreements providing access to around 3 billion consumers, were also noted. Hossam Heiba, CEO of GAFI, stated that 'localising technology and supporting creative ideas is one of the most important goals of the Egyptian government.' He cited the granting of Golden Licences to Chinese companies Haier and Midea for their decision to localise industrial technology in Egypt. Heiba also mentioned that GAFI has trained over 300,000 entrepreneurs in the past five years, many contributing to the economy and its connection to global tech trends. Furthermore, Heiba announced that GAFI 'seeks to establish technology innovation centres in its affiliated free and investment zones, in partnership with countries exporting investment to Egypt, foremost among them the People's Republic of China.'
Trade Arabia
09-04-2025
- Business
- Trade Arabia
AIM Congress explores future of tourism investment
The Ministerial Roundtable on 'Investment in Tourism: Shaping Tourism Investment Opportunities through Policy Innovation' assembled at AIM Congress 2025, gathering ministers and global stakeholders to redefine the future of tourism investment through strategic policy transformation, reported WAM. The session brought together 13 speakers, including officials and ministers from the UAE, Bahrain, Georgia, Montenegro, Egypt, and Iran, as well as senior executives from UNCTAD, UN Tourism, World Economic Forum, ESCAP, and the World Free Zones Organisation. The roundtable emphasised tourism's critical role in economic resilience, job creation, and sustainable development. Opening remarks celebrated the region's leadership in shaping future-ready policies to attract quality investments that balance economic growth with environmental preservation. Abdulla Ahmed Alsaleh, Undersecretary of the Ministry of Economy, said, 'Under the guidance of our wise leadership, the UAE has succeeded in consolidating its position as a global destination for investment in the tourism sector. We seek to attract AED100 billion in new investments by 2031.' Fatima bint Jaafar Al Sairafi, Minister of Tourism of the Kingdom of Bahrain, highlighted the nation's evolving tourism policy and robust investment climate, emphasising Bahrain's strategic role in advancing sustainable tourism and economic growth. Under its leadership, Bahrain has aligned itself with global tourism development goals, integrating UN initiatives while offering attractive investment opportunities through Golden Licences—two of which are tailored specifically to the tourism sector. With streamlined regulations, investor privileges, and a 'one-stop-shop' approach to project facilitation, Bahrain continues to position itself as a premier destination for tourism development and global collaboration. Seyed Reza Salehi Amiri, Minister of Cultural Heritage, Tourism and Handicrafts, announced a transformative shift in the country's tourism strategy, emphasising a strong pivot toward private sector involvement and investment-driven growth. Yomna Elbahar, Vice Minister of Tourism and Antiquities of Egypt, highlighted Egypt's independent progress in tourism and emphasised the nation's commitment to innovation in hospitality. 'We are bringing together industry pioneers to explore the future of branded living and luxury hospitality in Egypt—shaping new possibilities for the sector,' she said. Nan Li Collins of UNCTAD underscored the importance of innovative investment frameworks that are resilient and environmentally conscious, while Matthew Stephenson of the World Economic Forum pointed to the power of digital transformation and AI in shaping post-pandemic tourism. Speakers unanimously called for public-private collaboration, green financing, and investment in human capital as core pillars to unlock tourism's full potential. The session concluded with a strong call to action: to integrate policy innovation, technology, and sustainability as guiding principles for shaping the next era of global tourism investment.
Al Etihad
09-04-2025
- Business
- Al Etihad
AIM Congress explores future of tourism investment
9 Apr 2025 12:39 ABU DHABI (WAM) The Ministerial Roundtable on 'Investment in Tourism: Shaping Tourism Investment Opportunities through Policy Innovation' assembled at AIM Congress 2025, gathering ministers and global stakeholders to redefine the future of tourism investment through strategic policy session brought together 13 speakers, including officials and ministers from the UAE, Bahrain, Georgia, Montenegro, Egypt, and Iran, as well as senior executives from UNCTAD, UN Tourism, World Economic Forum, ESCAP, and the World Free Zones roundtable emphasised tourism's critical role in economic resilience, job creation, and sustainable development. Opening remarks celebrated the region's leadership in shaping future-ready policies to attract quality investments that balance economic growth with environmental of the Ministry of Economy, Abdulla Ahmed Alsaleh, said, 'Under the guidance of our wise leadership, the UAE has succeeded in consolidating its position as a global destination for investment in the tourism sector. We seek to attract Dh100 billion in new investments by 2031.'Minister of Tourism of the Kingdom of Bahrain, Fatima bint Jaafar Al Sairafi, highlighted the nation's evolving tourism policy and robust investment climate, emphasising Bahrain's strategic role in advancing sustainable tourism and economic its leadership, Bahrain has aligned itself with global tourism development goals, integrating UN initiatives while offering attractive investment opportunities through Golden Licences—two of which are tailored specifically to the tourism streamlined regulations, investor privileges, and a 'one-stop-shop' approach to project facilitation, Bahrain continues to position itself as a premier destination for tourism development and global of Cultural Heritage, Tourism, and Handicrafts, Seyed Reza Salehi Amiri, announced a transformative shift in the country's tourism strategy, emphasising a strong pivot toward private sector involvement and investment-driven Minister of Tourism and Antiquities of Egypt, Yomna Elbahar, highlighted Egypt's independent progress in tourism and emphasised the nation's commitment to innovation in hospitality. 'We are bringing together industry pioneers to explore the future of branded living and luxury hospitality in Egypt—shaping new possibilities for the sector,' she Li Collins of UNCTAD underscored the importance of innovative investment frameworks that are resilient and environmentally conscious, while Matthew Stephenson of the World Economic Forum pointed to the power of digital transformation and AI in shaping post-pandemic unanimously called for public-private collaboration, green financing, and investment in human capital as core pillars to unlock tourism's full potential. The session concluded with a strong call to action: to integrate policy innovation, technology, and sustainability as guiding principles for shaping the next era of global tourism investment.
