Latest news with #MohamedEl-Shimy
Zawya
27-03-2025
- Business
- Zawya
Egypt accelerates pharmaceutical industry development in state-owned companies
Egypt - Mohamed El-Shimy, Minister of Public Enterprises, and Ali El-Ghamrawy, Chairperson of the Egyptian Drug Authority (EDA), conducted an extensive field visit to subsidiaries of the Holding Company for Pharmaceuticals, Chemicals, and Medical Supplies. The tour covered Arabian Drug Company (ADCO), Memphis Pharmaceuticals, and Nile Pharmaceuticals, focusing on recent facility upgrades aimed at enhancing production capacity, competitiveness, and compliance with Good Manufacturing Practice (GMP) standards. This initiative is part of the ministry's broader strategy to reinforce Egypt's pharmaceutical security while meeting international quality benchmarks. El-Shimy reaffirmed the ministry's commitment to modernizing state-owned pharmaceutical companies, strengthening their role in ensuring national drug security, and aligning with global industry standards. He emphasized ongoing efforts to upgrade production lines, integrate advanced technology, and optimize resources to increase efficiency and sustain local market supply. The modernization drive is a cornerstone of Egypt's industrial localization agenda, ensuring high-quality, affordable medicines remain widely available. In collaboration with the EDA, the ministry is intensifying efforts to meet GMP requirements, with El-Shimy praising the progress achieved in upgrading facilities and infrastructure. He highlighted how these advancements not only improve the competitiveness of Egyptian pharmaceutical firms but also enhance their export potential in global markets. Expanding international reach remains a key pillar of the government's strategy, with state-owned pharmaceutical companies actively increasing their presence across Africa, the Middle East, and beyond. Human capital development is also a top priority, with the ministry focusing on employee training and skills enhancement. By investing in workforce capabilities, improving motivation, and optimizing working conditions, the ministry aims to sustain long-term industry growth. El-Ghamrawy, Chairperson of the EDA, underscored the vital role of state-owned pharmaceutical factories in Egypt's healthcare system. He commended their commitment to producing high-quality, effective medicines that meet global standards, stressing that ongoing modernization efforts will further strengthen their competitive edge. He also emphasized the importance of ensuring continuous access to essential medicines, supporting Egypt's healthcare sector, and enhancing pharmaceutical exports. The EDA remains committed to fostering an investment-friendly environment for the pharmaceutical industry by supporting infrastructure development and regulatory improvements. This approach aims to expand domestic pharmaceutical production, encourage innovation, and strengthen Egypt's resilience against emerging healthcare challenges. ADCO, established in 1964, operates 13 production lines and recently underwent a major modernization initiative, with over EGP 600 million invested in facility upgrades. ADCO exports to multiple Arab and African countries, including Sudan, Iraq, Yemen, the UAE, Libya, Senegal, Nigeria, Mali, and Zimbabwe. Between July 2024 and February 2025, the company recorded EGP 777 million in sales, marking a 39% increase compared to the same period last year, while profits reached EGP 103 million. Memphis Pharmaceuticals, one of the oldest pharmaceutical firms in the Middle East, was established in 1940 and operates 15 production lines across various pharmaceutical forms. The company recently modernized key production areas to comply with GMP standards. Memphis exports to Gulf countries, Africa, and Eastern Europe, achieving a 223% surge in profits and an 83% increase in revenues during the first half of the 2024-2025 fiscal year. As Egypt continues to modernize its pharmaceutical sector, these initiatives reinforce the country's commitment to expanding production, increasing exports, and ensuring the availability of high-quality medicines at competitive prices.
Daily News Egypt
27-03-2025
- Business
- Daily News Egypt
Egypt accelerates pharmaceutical industry development in state-owned companies
Mohamed El-Shimy, Minister of Public Enterprises, and Ali El-Ghamrawy, Chairperson of the Egyptian Drug Authority (EDA), conducted an extensive field visit to subsidiaries of the Holding Company for Pharmaceuticals, Chemicals, and Medical Supplies. The tour covered Arabian Drug Company (ADCO), Memphis Pharmaceuticals, and Nile Pharmaceuticals, focusing on recent facility upgrades aimed at enhancing production capacity, competitiveness, and compliance with Good Manufacturing Practice (GMP) standards. This initiative is part of the ministry's broader strategy to reinforce Egypt's pharmaceutical security while meeting international quality benchmarks. El-Shimy reaffirmed the ministry's commitment to modernizing state-owned pharmaceutical companies, strengthening their role in ensuring national drug security, and aligning with global industry standards. He emphasized ongoing efforts to upgrade production lines, integrate advanced technology, and optimize resources to increase efficiency and sustain local market supply. The modernization drive is a cornerstone of Egypt's industrial localization agenda, ensuring high-quality, affordable medicines remain widely available. In collaboration with the EDA, the ministry is intensifying efforts to meet GMP requirements, with El-Shimy praising the progress achieved in upgrading facilities and infrastructure. He highlighted how these advancements not only improve the competitiveness of Egyptian pharmaceutical firms but also enhance their export potential in global markets. Expanding international reach remains a key pillar of the government's strategy, with state-owned pharmaceutical companies actively increasing their presence across Africa, the Middle East, and beyond. Human capital development is also a top priority, with the ministry focusing on employee training and skills enhancement. By investing in workforce capabilities, improving motivation, and optimizing working conditions, the ministry aims to sustain long-term industry growth. El-Ghamrawy, Chairperson of the EDA, underscored the vital role of state-owned pharmaceutical factories in Egypt's healthcare system. He commended their commitment to producing high-quality, effective medicines that meet global standards, stressing that ongoing modernization efforts will further strengthen their competitive edge. He also emphasized the importance of ensuring continuous access to essential medicines, supporting Egypt's healthcare sector, and enhancing pharmaceutical exports. The EDA remains committed to fostering an investment-friendly environment for the pharmaceutical industry by supporting infrastructure development and regulatory improvements. This approach aims to expand domestic pharmaceutical production, encourage innovation, and strengthen Egypt's resilience against emerging healthcare challenges. ADCO, established in 1964, operates 13 production lines and recently underwent a major modernization initiative, with over EGP 600 million invested in facility upgrades. ADCO exports to multiple Arab and African countries, including Sudan, Iraq, Yemen, the UAE, Libya, Senegal, Nigeria, Mali, and Zimbabwe. Between July 2024 and February 2025, the company recorded EGP 777 million in sales, marking a 39% increase compared to the same period last year, while profits reached EGP 103 million. Memphis Pharmaceuticals, one of the oldest pharmaceutical firms in the Middle East, was established in 1940 and operates 15 production lines across various pharmaceutical forms. The company recently modernized key production areas to comply with GMP standards. Memphis exports to Gulf countries, Africa, and Eastern Europe, achieving a 223% surge in profits and an 83% increase in revenues during the first half of the 2024-2025 fiscal year. As Egypt continues to modernize its pharmaceutical sector, these initiatives reinforce the country's commitment to expanding production, increasing exports, and ensuring the availability of high-quality medicines at competitive prices.
Zawya
03-03-2025
- Business
- Zawya
Egypt explores industrial zone development with Turkey's Polaris Parks
Egypt - Mohamed El-Shimy, Egypt's Minister of Public Enterprises Sector, met with a delegation from Turkish industrial zone developer Polaris Parks to discuss potential collaboration in industrial development. The delegation, led by Chairperson Tunç Özkan and accompanied by Executive Managing Director Osman Evren and General Manager Basil Shaera, explored opportunities for cooperation between the ministry, its affiliated companies, and Polaris Parks. Discussions focused on leveraging global best practices in industrial zone development and utilizing underutilized land owned by public sector companies to support small and medium-sized enterprises (SMEs). El-Shimy emphasized the government's commitment to enhancing Egypt's investment climate through strategic partnerships with industrial developers and international investors. He highlighted that optimizing public sector assets for industrial projects aligns with Egypt's broader strategy for sustainable economic growth. This initiative aims to boost local production, attract foreign investment, and generate employment opportunities, maximizing the economic potential of state-owned resources. The Polaris Parks delegation provided an overview of the company's experience as a leading industrial land developer. Since its establishment in 2007, Polaris Parks has played a significant role in Egypt's industrial sector, with developments in 10th of Ramadan City, 6th of October City, and Sadat City. The company is also expanding into New October City and the New Administrative Capital to establish new industrial zones. Expressing strong interest in further investments in Egypt, the delegation also explored potential collaborations in hospitality and resort development. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Daily News Egypt
03-03-2025
- Business
- Daily News Egypt
Egypt explores industrial zone development with Türkiye's Polaris Parks
Mohamed El-Shimy, Egypt's Minister of Public Enterprises Sector, met with a delegation from Turkish industrial zone developer Polaris Parks to discuss potential collaboration in industrial development. The delegation, led by Chairperson Tunç Özkan and accompanied by Executive Managing Director Osman Evren and General Manager Basil Shaera, explored opportunities for cooperation between the ministry, its affiliated companies, and Polaris Parks. Discussions focused on leveraging global best practices in industrial zone development and utilizing underutilized land owned by public sector companies to support small and medium-sized enterprises (SMEs). El-Shimy emphasized the government's commitment to enhancing Egypt's investment climate through strategic partnerships with industrial developers and international investors. He highlighted that optimizing public sector assets for industrial projects aligns with Egypt's broader strategy for sustainable economic growth. This initiative aims to boost local production, attract foreign investment, and generate employment opportunities, maximizing the economic potential of state-owned resources. The Polaris Parks delegation provided an overview of the company's experience as a leading industrial land developer. Since its establishment in 2007, Polaris Parks has played a significant role in Egypt's industrial sector, with developments in 10th of Ramadan City, 6th of October City, and Sadat City. The company is also expanding into New October City and the New Administrative Capital to establish new industrial zones. Expressing strong interest in further investments in Egypt, the delegation also explored potential collaborations in hospitality and resort development.
Zawya
29-01-2025
- Business
- Zawya
Egypt aims to develop mining industry through strategic partnerships: Minister
Egypt - Mohamed El-Shimy, Minister of Public Enterprises Sector, held a key meeting with representatives from Al Safi Group, American International Holdings Corporation (AMIH), and its Indian subsidiary, Wilson Company, to assess the ongoing progress of a major industrial project. The initiative seeks to boost the concentration of phosphate ore extracted by Nasr Mining Company, a subsidiary of the Holding Company for Metallurgical Industries, part of the Ministry's broader strategy to develop Egypt's mining sector. The project will play a significant role in increasing the added value of the country's natural resources, aligning with the Ministry's goal to modernize and diversify industries within its affiliated companies. Among the attendees were Manish Nagpal, CEO of AMIH, Venkataraman Sitaram, Vice President at Wilson Company, Amr Safi, Head of Business Development at Al Safi Group, Mohamed El Saadawy, Executive Managing Director of the Holding Company for Metallurgical Industries, Mohamed Hassouna, Ministerial Advisor, Saeed Arafa, Legal Advisor to the Ministry, Abu El Magd Miftah, Managing Director of Nasr Mining Company, and Hind Abu El Fotouh, Investment Advisor for the project. The meeting focused on reviewing the project's current status, including the final steps needed to establish a joint venture between Nasr Mining, Al Safi Group, and Wilson Company. Discussions highlighted the technical expertise Wilson will provide to enhance phosphate ore concentration, as well as the production of high-value phosphate fertilizers and related products, such as sulphuric and phosphoric acid. The proposed site and operational requirements for the project were also reviewed, with a focus on meeting growing global demand for these products. This development will position Egypt to increase its exports, tapping into high-demand international markets. Minister El-Shimy emphasized that the project aligns with the Ministry's broader strategy to strengthen national industries, transfer and localize advanced technologies, and add value to local resources. He highlighted the economic significance of this collaboration, noting its potential to open new export opportunities and generate much-needed foreign exchange, ultimately contributing to the country's economic growth. The Minister also reaffirmed the Ministry's commitment to fostering stronger partnerships with both international and local companies. This initiative supports Egypt's Vision 2030 goals for sustainable development, aiming for industrial integration and the realization of specific project milestones on time. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
