Latest news with #IDG
Zawya
27-03-2025
- Business
- Zawya
Egypt's IDG expands industrial, logistics projects
Egypt - Industrial Development Group (IDG), a leader in developing, operating, and managing advanced industrial zones in Egypt, has unveiled an ambitious expansion strategy to solidify its role as a key driver of economic growth in Egypt and Africa. The company's plan focuses on launching and developing new industrial zones in strategic locations, including the New Administrative Capital and New October City, with additional sites to be announced. It also aims to expand and strengthen existing investments in 6th of October City, New Alamein, and East Port Said, covering a total of 24.4 million square meters. Additionally, IDG is introducing innovative financial solutions to support entrepreneurs, particularly small, medium, and micro enterprises. Currently, IDG is implementing several high-impact projects to transform Egypt's industrial landscape. Among these initiatives is the NERIC railcar manufacturing project, the FEERUM Egypt collaboration with Poland for silo manufacturing, food security initiatives, strategic storage facilities in Suez, and advanced logistics zones aimed at optimizing supply chains. In parallel, IDG is expanding its services to small and medium-sized enterprises by offering comprehensive financial and consulting solutions, enabling entrepreneurs to scale their businesses, enhance production, and improve market competitiveness. Hossam Heiba, CEO of the General Authority for Investment (GAFI), emphasized the government's commitment to positioning Egypt as a global industrial hub rather than just a regional player. He highlighted recent infrastructure reforms and the establishment of key service and logistics projects as crucial steps in this transformation. GAFI is also working to attract both local and foreign investments, with plans to launch four new free zones in New Alamein, Borg El Arab, 10th of Ramadan, and 6th of October City. Furthermore, Egypt is targeting an increased share of global trade passing through the Suez Canal, aiming for 20%, while introducing new investment incentives to strengthen productive sectors and boost competitiveness. Heiba underscored the essential role of the private sector in achieving sustainable industrial development. IDG Chairperson Karim Sami Saad reaffirmed the company's long-term vision, stating that since its founding 17 years ago, IDG has been committed to reshaping Egypt's industrial identity by developing fully serviced industrial communities with world-class infrastructure and support services. He emphasized that Egypt has all the necessary elements to become a leading industrial destination in the southern Mediterranean, thanks to its strategic location and promising investment opportunities. Through its expansion plans and industrial projects, IDG aims to strengthen Egypt's position as a regional manufacturing powerhouse, driving production, increasing exports, and supporting industry localization. Managing Director Shady William echoed this sentiment, highlighting the company's commitment to continuous improvement and its recognition of SMEs as the backbone of any economy. He stated that through strategic partnerships and international collaborations, IDG is working to enhance Egypt's manufacturing sector, reinforcing its role in global markets while fostering sustainable growth. Since launching e2 October in 2008, Egypt's first fully integrated industrial zone, IDG has been instrumental in advancing the country's industrial infrastructure. In 2017, it began developing the East Port Said Industrial Zone, which serves as a strategic gateway for investors looking to access European, Middle Eastern, and North African markets. More recently, IDG became the first industrial developer to establish an industrial zone in New Alamein City through the Alamein e2 project. With its ongoing expansion, strategic investments, and commitment to innovation, IDG continues to shape the future of Egypt's industrial sector, fostering economic growth and strengthening the country's position as a global industrial and logistics hub.
Yahoo
24-02-2025
- Business
- Yahoo
Nonprofit to expand support to local minority-owned small businesses
(WKBN) — A local nonprofit has received more funding to support the growth of local minority-owned small businesses. The Mercy Health Foundation awarded a $200,000 Community Health Fund grant to Intentional Development Group (IDG) for their Cornerstone Collective: Minority Business Accelerator. The program is designed to provide business coaching, technical assistance, community support and working spaces. A 12-week program will be offered in Youngstown, while IDG will also partner with the Small Business Development Center (SBDC) at Lorain County Community College to facilitate a four-week training program. While there is a dedicated focus on women, minority, veteran, and DBE-certified enterprises, the Cornerstone Collective is expanding its scope to serve all small businesses. 'This initiative is more than just a business program—it's a movement to create sustainable economic growth in under-resourced communities,' Carmella M. Williams, CEO of Intentional Development Group, said in a news release. 'We are excited to work alongside Mercy Health to bring meaningful resources to small business owners in Youngstown and beyond.' For more information on the Minority Business Accelerator, visit IDG's Facebook page. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Middle East Eye
17-02-2025
- Politics
- Middle East Eye
Israeli high court rules against publishing full text of Gaza ceasefire deal
The Israeli High Court of Justice rejected a petition to publish the full text of the ceasefire agreement between Israel and Hamas, ruling that the government is entitled to conduct secret diplomacy, The Times of Israel reported. The court said publishing the details would endanger the deal's implementation and that the public's right to know was not absolute. The Israel Democracy Guard (IDG) filed the petition, arguing that Israeli citizens have the right to know the nature of the agreement, which was only partly made public. IDG also argued that security risks regarding the deal's publication are irrelevant since Hamas is already fully aware of the terms of the agreement it signed.
