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Iraq Business
3 days ago
- Business
- Iraq Business
Iraqi Cabinet Approves 2 Solar Energy Projects
By John Lee. The Iraqi Council of Ministers has approved key measures to advance major solar energy projects, reinforcing the country's push toward clean and sustainable power generation. Firstly, the cabinet approved a memorandum of understanding between the Ministry of Electricity and US-based UGT Renewables for the development of an integrated solar power project. The Ministries of Planning and Finance are tasked with aligning the project with national development priorities and allocating the necessary funding. The Minister of Electricity has been granted full authority to proceed with implementation. for the development of an integrated solar power project. The Ministries of Planning and Finance are tasked with aligning the project with national development priorities and allocating the necessary funding. The Minister of Electricity has been granted full authority to proceed with implementation. Secondly, the Council endorsed the Ministerial Council for Energy's recommendation on pricing and development costs for the 1000 MW Artawi Solar Power Plant, to be developed with France's TotalEnergies. The project is recognised as a strategic component of Iraq's clean energy agenda. The Ministry of Oil has been instructed to fulfil its payment obligations under the power purchase agreements, and the Director General of the State Company for Southern Electricity Production is authorised to sign the contract addendum with the French energy firm. These approvals mark a significant step in diversifying Iraq's energy sources and reducing its dependence on fossil fuels. (Source: PMO) Tags: Artawi, cg, clean energy, Electricity In Iraq, featured, Ministry of Electricity, Ratawi, solar energy, solar power, State Company for Southern Electricity Production, TotalEnergies, UGT Renewables, United States
Daily News Egypt
12-04-2025
- Business
- Daily News Egypt
Private Sector's Strategic Role in Egypt's Economic Future Takes Spotlight at Narrative Summit 2025
Under the auspices of the Ministries of Planning, Economic Development and International Cooperation, Investment, and Youth and Sports, the Narrative Summit 2025 commenced at Somabay with a strong emphasis on the pivotal role of the private sector in Egypt's long-term economic growth. Among the featured speakers was Dr. Ahmed Moharram, Founder and Managing Director of Anchorage Investments, who delivered a powerful message during a session titled 'Empowering the Private Sector is Vital to Egypt's Growth and Prosperity.' He stressed that large-scale, export-oriented investments are key to achieving competitiveness and resilience in Egypt's economy. 'The private sector is the driving engine of economic growth. It generates revenue, creates jobs, and helps position Egypt competitively on the global map,' Dr. Moharram said. He pointed to Anchor Benitoite, a USD 2.2 billion petrochemical project by Anchorage Investments in Ain Sokhna, as a prime example of the private sector's capability to lead transformative change. The Anchor Benitoite Petrochemical Complex, located in the Suez Canal Economic Zone (SCZone), is set to produce 1.75 million tons of high-value products annually, including propylene, polypropylene, and acrylic acid derivatives. Its strategic location capitalizes on Egypt's maritime access, investor-friendly incentives, and a growing industrial ecosystem. Dr. Moharram identified several enablers of successful private sector engagement, including Egypt's location along major global shipping lanes, government facilitation efforts, and access to international technologies and partners. However, he also underscored ongoing challenges such as infrastructure gaps, policy consistency, and investment risk perceptions. 'To truly empower the private sector, we need to simplify the regulatory environment, promote public-private partnerships—especially in decarbonization infrastructure—and rebuild investor confidence, particularly for greenfield capital-intensive ventures,' he stated. 'These are strategic imperatives, not just economic choices.' He added that Egypt's economic future depends on building a business ecosystem that encourages innovation, fosters entrepreneurship, and sustains long-term value creation. 'Empowering the private sector is not about short-term gains—it's about building a sustainable economy that thrives across generations,' he said. Now in its ninth edition, the Narrative PR Summit has become a cornerstone event on Egypt's business and communications calendar. Since its launch in 2016, it has attracted more than 10,000 attendees and 500 speakers from Egypt and abroad. The summit is known for promoting cross-sector dialogue and showcasing Egypt as a dynamic destination for tourism, investment, and innovation. This year's summit, themed 'Egypt Reset,' also introduced new initiatives such as the Storytellers Awards, honoring young content creators who are redefining modern narratives about Egypt. As Egypt looks to position itself as a global investment hub, events like the Narrative Summit continue to provide a vital platform for advancing dialogue between the public and private sectors—and for shaping a forward-looking economic vision grounded in collaboration and innovation.
Zawya
11-04-2025
- Business
- Zawya
Private sector's role in Egypt's economic growth took center stage at the Narrative Summit 2025
Dr. Ahmed Moharram: The private sector is the driving engine of Egypt's economic growth generating revenue and jobs and helping Egypt build global competitiveness and long-term economic resilience Today Dr. Ahmed Moharram, Founder and Managing Director of Anchorage Investments, was a featured speaker at the Narrative PR Summit, which is taking place on April 7–9, 2025, at the magnificent Somabay on Egypt's Red Sea coast. With the captivating theme "Egypt Reset," the prestigious event kicked off today, drawing prominent global leaders, insightful experts, and influential figures from around the world. The ninth edition of the summit is proudly held under the auspices of several key ministries, including the Ministries of Planning, Economic Development and International Cooperation, Investment, and Youth and Sports, focusing on promoting investment, tourism, and sports as key pillars of Egypt's economic transformation. As a panelist in the session titled "Empowering the Private Sector is Vital to Egypt's Growth and Prosperity," Dr. Moharram highlighted the enablers and challenges of launching one of Egypt's largest private-sector industrial projects: the USD 2.2 billion Anchor Benitoite Petrochemical Complex in Ain Sokhna. "The private sector is a vital driving engine of economic growth. When we invest in large-scale, export-oriented industries, we not only generate revenue and jobs but also help Egypt grab global market shares, build competitiveness and long-term economic resilience," explained Moharram. The Anchor Benitoite project, developed by Anchorage Investments, is a state-of-the-art petrochemical complex designed to produce 1.75 million tons per annum of high-value products along its different phases, including propylene, polypropylene, and acrylic acid derivatives. Located within the Suez Canal Economic Zone (SCZone), the facility leverages Egypt's strategic access to global shipping lanes, investment incentives, and regulatory facilitation. In his remarks, Dr. Moharram emphasized key enablers of private sector success, including Egypt's strategic geographical location amidst global maritime routes, proactive government support, and access to international proven technology and international partners. He also addressed challenges such as some infrastructure and utility gaps requiring additional captive capital investments to bridge these gaps, policy stability considerations and capital and operational costs' uncertainties. "To truly empower the private sector, we need to simplify the regulatory environment, foster public-private partnerships particularly with regards to decarbonization infrastructure, and - with regards to greenfield capital-intensive manufacturing projects - work together on building confidence and improving investors' sentiment towards advocating investment decisions being taken into Egypt's greenfield projects not only brownfield turnarounds with quick targeted exits," Dr. Moharram noted. "These are not just business imperatives they are strategic necessities for Egypt's economic prosperity", he added. He also stressed on the importance of the long-term vision: "Empowering the private sector is not about short-term gains; it is about creating a sustainable business-friendly ecosystem that generates value across generations. Egypt's future prosperity hinges on our ability to build this ecosystem that helps private enterprises and private-sector entrepreneurship thrive and innovate." The Narrative PR Summit was initiated in 2016 with the goal of enhancing Egypt's global reputation. By uniting influential figures and leaders from the realms of investment, business, tourism, and art, this initiative facilitates the exchange of inspiring experiences and cultivates a sense of national identity. Their collective efforts propel Egypt onto the global stage as a premier tourist destination, while concurrently fostering partnerships with diverse stakeholders, both domestically and internationally, to drive investment in the country's burgeoning sectors. The Summit's 2025 edition also introduced new initiatives such as the Storytellers Awards, designed to celebrate young digital creators who are shaping modern narratives about Egypt.
Identity
20-03-2025
- Business
- Identity
The Annual Forum for CSR in Egypt Honors Hana Tahawith " Athar Award " for Her Contributions toSustainability and Women's Empowerment
Cairo – (19 March 2025 ) – Under the official patronage of the Ministries ofPlanning, Economic Development and International Cooperation, SocialSolidarity, and Environment, the Annual Forum for CSR and SustainableDevelopment in Egypt honored Ms. Hana Taha, Head of Media Relations atThe PROs Public Relations and Communications Company, with theprestigious 'Athar Award for Best Practices in CSR and Sustainability.' Thisrecognition celebrates her outstanding contributions to promotingsustainability, corporate social responsibility, and empowering women in the media sector and community development.
Al-Ahram Weekly
19-03-2025
- Business
- Al-Ahram Weekly
The Annual Forum for CSR in Egypt Honors Hana Taha with "Athar Award" for Her Contributions to Sustainability and Women's Empowerment - Sponsored
Under the official patronage of the Ministries of Planning, Economic Development and International Cooperation, Social Solidarity, and Environment, the Annual Forum for CSR and Sustainable Development in Egypt honored Ms. Hana Taha, Head of Media Relations at The PROs Public Relations and Communications Company, with the prestigious "Athar Award for Best Practices in CSR and Sustainability." This recognition celebrates her outstanding contributions to promoting sustainability, corporate social responsibility, and empowering women in the media sector and community development. Expressing her gratitude for the award, Hana Taha emphasized that sustainability and social responsibility are not just trends but essential pillars for building a better future for all. She highlighted that women's empowerment is a fundamental aspect of social responsibility, as it benefits society as a whole. She further noted that supporting women is not only a matter of rights but also a key factor in ensuring business sustainability, fostering balance, and achieving social justice. Taha also stressed the vital role that both public and private sector institutions play in advancing equality and justice within societies. By implementing strategies that empower women, these institutions contribute significantly to the realization of the United Nations Sustainable Development Goals (SDGs) and Egypt 2030 vision. Follow us on: Facebook Instagram Whatsapp Short link:
