Latest news with #IndustryandTransport
Daily News Egypt
3 days ago
- Business
- Daily News Egypt
Egypt, Sweden discuss advancing local electric bus manufacturing, sustainable transport
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, met with Johan Forssell, Swedish Minister for International Development Cooperation and Foreign Trade, to discuss expanding bilateral cooperation in the transport and industrial sectors. Swedish Ambassador to Cairo, Håkan Emsgård, also attended the meeting. Al-Wazir underscored the longstanding and robust relations between Egypt and Sweden, expressing a strong desire to deepen collaboration, particularly in enhancing road safety—an effort aligned with Egypt's extensive national infrastructure projects in roads and bridges. Minister Forssell, leading a delegation of Swedish institutions and companies, expressed Sweden's keen interest in investing in Egypt's industrial development. He affirmed Sweden's readiness to support Egypt through technology transfer, expertise sharing, and cooperation across various transport sectors, recognizing Egypt's strategic position as a gateway to Africa. A key focus of the meeting was Egypt's initiative to localize the manufacturing of electric buses as part of its broader environmental and industrial strategy. Al-Wazir noted that Swedish company Volvo already manufactures electric buses in Egypt for export to the UK and several European markets. The ministers also discussed collaboration on Egypt's Bus Rapid Transit (BRT) system. Plans include the joint production of 100 electric buses, the development of electric charging infrastructure for upcoming BRT phases, and the implementation of advanced control and monitoring systems. Al-Wazir welcomed Swedish support in rolling out BRT services in Alexandria and emphasized opportunities for collaboration with other Swedish companies in the fields of renewable energy and pharmaceutical innovation, such as AstraZeneca. During the meeting, Al-Wazir and Forssell, along with Ambassador Emsgård, witnessed the signing of a Letter of Intent between Egypt's Land Transport Regulatory Authority and the International Swedish Industry Council. The agreement outlines cooperation in public transport planning, capacity building, technical evaluations, and knowledge transfer—particularly for BRT projects. Both sides concluded the meeting by agreeing to establish a series of expert-level follow-up sessions to monitor the implementation of joint projects and explore additional opportunities for Swedish companies in Egypt's growing market.
See - Sada Elbalad
6 days ago
- Automotive
- See - Sada Elbalad
Egypt to Facilitate Entry of American Cars, Dairy Products to Boost Trade Exchange
Taarek Refaat Egypt is working to facilitate the entry of American cars and dairy products into its market, a move that could contribute to increasing trade between the world's largest economy and the North African country with the largest number of consumers. Egyptian Prime Minister Mostafa Madbouly said during the Egyptian-American Business Forum held in Cairo on Sunday and Monday that "there is growing interest from American auto manufacturers in entering the Egyptian market. This month, a decree was issued waiving the requirements for the entry of American-made cars into Egypt, and the World Trade Organization has been provided with the new regulations. Therefore, our market is now open to vehicles manufactured in the United States." On his part, Minister of Industry and Transport Kamel El-Wazir announced that "the problems of importing American-made cars have been resolved, and Egypt is ready to receive them starting today. We have also removed all restrictions on the entry of American auto parts into our market, in addition to providing all the necessary procedures to begin manufacturing American cars locally in the coming period." The Prime Minister also noted another "unprecedented" decision, which he described as permanently exempting American dairy products and their derivatives from halal certification requirements when exported to Egypt. This will further support the presence of American dairy companies in Egypt. He added, "Until the end of 2025, American dairy products can be exported to Egypt without requiring halal certification or paying related fees." While the tariffs will start in 2026 at approximately $1,500 per container. Madbouly told more than 150 American company officials attending the business forum that his country "has reached the final stage of a customs agreement with the United States." He noted that "there are more than 1,800 American companies operating in Egypt, with cumulative investments exceeding $47 billion over the past two decades." In early April, Trump imposed tariffs on 185 countries, with a maximum of 50% and a minimum of 10%, covering approximately 125 countries. The tariffs affected Egypt, Saudi Arabia, the UAE, and Morocco at 10%. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized 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 Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
See - Sada Elbalad
6 days ago
- Business
- See - Sada Elbalad
Egypt's Rapid Transit Bus to Operate in June, Says Minister
Taarek Refaat Kamel El-Wazir, Minister of Industry and Transport announced that in the field of sustainable, environmentally friendly mass transit, the state has implemented the Bus Rapid Transit (BRT) project on the Ring Road, one of the most important traffic arteries in Greater Cairo. The pilot operation, without passengers, was conducted in the first phase, with 14 stations from the Police Academy to the Alexandria Agricultural Road. He revealed that the project is planned to be operational for passengers starting June 1. seven Logistics Corridors. During his participation in the opening of the Egyptian-American Bussiness Forum, the Minister pointed that transportation networks, including the national road network, the high-speed electric train network, and railway lines, contribute to serving industrial regions and complexes across the country. "This is clearly demonstrated in the planning of seven integrated international logistics development corridors: the Sokhna-Alexandria Corridor, the Arish-Taba Corridor, the Cairo-Alexandria Corridor, the Tanta-Mansoura-Damietta Corridor, the Gergoub-Salloum Corridor, the Cairo-Aswan-Abu Simbel Corridor, and the Safaga-Qena-Abu Tartour Corridor," he said. He noted that this contributes to localizing industry by meeting railway, metro, and electric traction requirements, including moving units, sleepers, signaling systems, level crossing equipment, and spare parts, thus saving the state significant costs incurred in importing these items. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized 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 Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
Daily News Egypt
7 days ago
- Business
- Daily News Egypt
Al-Wazir inaugurates Golden Avenue garment factory, accelerates industrial development in Minya
Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, toured key industrial sites in Minya, highlighting Egypt's ongoing push to localize manufacturing and expand infrastructure in Upper Egypt. Al-Wazir began by visiting the Giza Company for Upper Egypt Development, a textile and ready-made garments factory that serves as a flagship example of successful local investment. Spanning 46,000 square meters and employing 2,500 workers, the factory has achieved a 50% local content rate, which Al-Wazir hailed as a major milestone in Egypt's industrial development strategy. He then officially inaugurated the Golden Avenue factory, a $3.5m Egyptian-Vietnamese joint venture specializing in the production of padded jackets for export to Europe and the United States. The facility currently employs 350 workers, with plans to grow its workforce to 1,500 by the end of the year. Following the inaugurations, Al-Wazir inspected the Matahra Industrial Zone, which spans 8 million square meters and hosts 621 projects across multiple sectors. He also reviewed proposed utility works at a 306-feddan expansion site designated for new industrial development. As part of broader investment facilitation measures, the minister announced that 16 vacant plots in the Matahra zone will be made available via the Egypt Industrial Digital Platform on June 1, 2025. Additionally, a small industries complex—comprising 68 units for food, engineering, and textile production—recently concluded a leasing round that ran from 1 to 22 May 2025. Al-Wazir stressed the urgency of accelerating development in Matahra, citing its strategic location near major transportation routes and export hubs, including Safaga Port (250 km), Ain Sokhna Port (300 km), Minya Railway Station (40 km), and Assiut Airport (130 km). Plans are underway to add 1.2 million square meters to the zone, creating Upper Egypt's first textile-focused industrial area. To ensure accountability, Al-Wazir ordered the formation of a joint inspection committee to verify that allocated industrial plots are being developed on schedule. Lands left idle or misused will be reclaimed and reallocated to serious investors to curb speculation and accelerate productive use. The minister also inspected progress on the Western Upper Egypt Desert Road, a transformative infrastructure project stretching 1,226 kilometers. He visited the Dairut–Asyut segment, which is 72 kilometers long and now 75% complete. This section will ultimately feature six lanes—three for main traffic and three for service—across a 46-meter-wide corridor. Progress along the route is advancing steadily. The Cairo–Minya segment, covering 230 kilometers, was inaugurated in December 2021. The 60-kilometer Minya–Qusiya section opened in March 2023. The 57-kilometer Qusiya–Asyut section is now 75% complete. Work is progressing on the 113-kilometer stretch between Luxor and Sibaiya, while the 215-kilometer Aswan–Toshka section has reached 23% completion. The Sibaiya–Edfu segment (25 kilometers) and the Edfu–Aswan section (87.5 kilometers) are scheduled for completion by March 2025. The remaining segments, including the 336 kilometers from Asyut to Luxor and 103 kilometers from Toshka to Arqin, are currently in the planning phase. So far, 402.5 kilometers of the road have been completed, 385 kilometers are under development, and 439 kilometers are planned for future construction.
Egypt Independent
21-05-2025
- Business
- Egypt Independent
PM: Top priority to industry, investment incentives
Prime Minister Mostafa Madbouly on Tuesday, May 20, 2025 said that great importance is attached to the industrial sector, in line with directives of President Abdel Fattah al-Sisi. Madbouly highlighted the government's continued efforts to provide more facilitation and incentives as well as remove any obstacles that may face the industrial sector, with a view to attracting further investments in this vital sector that is considered a cornerstone for achieving comprehensive development and meeting Egypt's targeted economic goals. The premier made the remarks on the sidelines of the inauguration of a new factory of SE Wiring Systems Egypt, a subsidiary of Sumitomo Electric Systems Europe, located in the 10th of Ramadan City, Sharqia Governorate. Madbouly affirmed the government's commitment to localizing industries and transferring cutting-edge technical technologies to Egypt across various manufacturing fields, in order to boost the competitiveness of local products and open up new export markets for Egyptian goods. Following the inauguration ceremony, Madbouly toured the new factory to get first hand information about its manufacturing processes, production capacity and various activities. He was accompanied by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir, Sharqia Governor Hazem el Ashmouny and Port Said Governor Moheb Habashi. Madbouly was also accompanied by Deputy Minister of Finance for Tax Policies Sherif Elkilany, CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba and Industrial Development Authority (IDA) chief Nahed Youssef. The inauguration ceremony of the factory was attended by Japanese Ambassador to Egypt Iwai Fumio, Sumitomo Global President and Chief Executive Officer Kenichi Urushibata alongside a host of officials of Sumitomo and Toyota companies. With investments worth 22 million euros, the factory is built on an area of 150,000 square meters and is expected to create approximately 3,000 direct job opportunities. The facility is considered one of the largest in the world dedicated to the production of automotive wiring harnesses.
