Latest news with #HassanElKhatib
Zawya
3 days ago
- Business
- Zawya
Egypt, Swedfund sign LOI to boost electricity, sustainable transport cooperation
Arab Finance: Egypt's Ministry of Planning, Economic Development, and International Cooperation signed a letter of intent (LOI) with the Swedish Development Finance Institution (Swedfund) to enhance joint efforts in the electric power and sustainable transportation sectors, as per a statement. The agreement was signed by Egyptian Planning Minister Rania Al-Mashat and Swedfund CEO Maria Håkansson during the Second Egyptian-Swedish Business Forum. The signing took place in the presence of Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib and Swedish Minister for International Development Cooperation and Foreign Trade Benjamin Dosa. Under the agreement, Swedfund will provide development grants for feasibility studies aimed at improving the efficiency and stability of Egypt's electricity grid. It will also finance advisory services for the country's Bus Rapid Transit (BRT) project. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
3 days ago
- Business
- Zawya
Germany's BAMAG to set up $17mln wastewater treatment plant in Egypt
Arab Finance: Germany-based company BAMAG is developing a wastewater treatment plant in Egypt, with investments exceeding €15 million, the company's representative Mansour Iskander announced. During his meeting with Minister of Investment and Foreign Trade Hassan El-Khatib, Iskander noted that the facility will be implemented in partnership with the Egyptian Maintenance Company (San Misr) and backed by European sustainability funds. Iskander noted that BAMAG leverages EU financing, especially from the European Investment Bank (EIB), allocated to support climate action and pollution reduction projects in Egypt. This came during El-Khatib's meeting with representatives of an international industrial alliance to explore investment opportunities in industrial wastewater treatment technologies and review prospects for expansion into African markets via Egypt. The meeting also discussed opportunities for technology transfer and local industry development in line with Egypt's objectives to support water security and drive sustainable growth. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
3 days ago
- Business
- Zawya
Egypt prepares 10-year investment map with over 1,000 opportunities
Arab Finance: Egypt is preparing a 10-year national investment map featuring licensed opportunities across priority sectors, as announced during the May 28th cabinet meeting chaired by Prime Minister Mostafa Madbouly. Minister of Investment and Foreign Trade Hassan El-Khatib presented a detailed plan outlining the government's approach to creating a unified national investment strategy. The initiative aims to drive foreign direct investment (FDI), support structural reforms, and build a globally competitive economy. El-Khatib said the map will be completed within three months and will include fully licensed projects with prior approvals, backed by a comprehensive promotional campaign. The map will focus on opportunities in energy, industry, tourism, health, IT, agriculture, education, water resources, and other key sectors, he added. He emphasized the need for monetary and fiscal policies that promote investment, clarity on the state's role in the economy, and a strong position for the private sector. Highlighting the government's strategy, El-Khatib said ministries must each compile a portfolio of investment projects ready for promotion and implementation, complete with basic approvals and licenses. He also laid out plans for targeted global campaigns to attract FDI for each opportunity. The presentation included a review of major sectoral investment opportunities. In the new and renewable energy sector, El-Khatib pointed to 30-megawatt projects and a target to attract $100 billion in investments, including green hydrogen initiatives and the localization of feeder industries. The tourism sector aims to double its capacity by adding 120,000 new 3- to 5-star hotel rooms across different governorates. In health, investment plans include adding around 140,000 hospital beds and partnering with the private sector on service projects, with expected investments between $30 billion and $40 billion. Industrial sector plans include targeting 10 global companies over two years with investment offers ranging from $1 billion to $3 billion. This also involves the localization of new industries through the investment law, aiming to draw between $50 billion and $100 billion. Additional opportunities span data centers, semiconductors, and software development, as well as seawater desalination projects expected to attract $10 billion to $30 billion. The cabinet also reviewed a progress report from the Ministry of Investment and Foreign Trade on updating and developing the investment map. According to the report, 64 government entities are currently showcasing over 1,000 investment opportunities on the map, with private sector entries reaching 73. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
4 days ago
- Business
- Zawya
Egypt, Sweden discuss strengthening bilateral trade
Arab Finance: Swedish Minister for Foreign Trade and International Development Cooperation Benjamin Dousa visited Cairo and met with two Egyptian ministers to explore boosting bilateral trade and joint investments between the two countries over the coming period, as per a statement. Hassan El-Khatib, Minister of Investment and Foreign Trade, inaugurated the Sweden-Egypt Business Forum, noting that Egypt offers distinct investment opportunities for Swedish businesses in various production and service sectors. El-Khatib highlighted the importance of exploring these opportunities and establishing joint projects that serve the interests of the peoples and economies of both countries. He added that the government is currently working to create an attractive investment climate by implementing several financial, monetary, and trade reforms, which will provide further incentives for investors and facilitate foreign trade. On her part, Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, outlined the main axes of Egypt's national narrative for economic development. Al-Mashat elaborated that the strategy seeks to enhance the sustainability of macroeconomic policies, stimulate foreign direct investment (FDI), support industrial development and localization efforts, and support labor market and employment mechanisms. Finally, the ministers witnessed the signing of a memorandum of understanding (MoU) between Volvo and GB Auto. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
5 days ago
- Business
- Zawya
El-Khatib reviews e& Egypt's future investment plans
Arab Finance: Minister of Investment and Foreign Trade Hassan El-Khatib held a meeting with a delegation of e& Egypt, led by CEO Hazem Metwally, to discuss the company's current and future projects in Egypt, according to a statement. El-Khatib stated that the telecom sector is one of Egypt's key investment sectors, affirming the ministry's keenness to support the company's investments and business expansion in the Egyptian market during the coming period. He added that the state aims to provide further facilities for investors and improve the business environment, simplifying procedures and boosting Egypt's investment competitiveness. On his part, Metwally highlighted that e& Egypt's actual investments and projects from 2006 to the first quarter (Q1) of 2025 amounted to EGP 77 billion. The CEO said the company plans to inject future investments into Egypt over the coming period. The telecom group commenced operations in Egypt in May 2007 and has accomplished successful achievements, being the first company to provide high-quality 3.5G services. It is worth noting that e& Egypt was the first to offer 4G services without requiring its customers to change their SIM cards. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
