Latest news with #MustafaMadbouly
Egypt Today
16-04-2025
- Business
- Egypt Today
Egypt highlights improved navigation security in Red Sea at Suez Canal celebration
CAIRO – 16 April 2025: Prime Minister Mustafa Madbouly said maritime navigation security has improved in the Red Sea in recent month in light of a halt in attacks on vessels since December, as he attended a celebration for the Suez Canal Authority (SCA) on Wednesday. He urged foreign ambassadors present at the event, held in Ismailia, one of the Suez Canal cities located in northeastern Egypt, to communicate this positive development to their home countries and encourage the resumption of shipping traffic through the canal. Several ministers and officials attended the 'Excellence Day' celebration alongside foreign ambassadors to learn about the efforts made over the past decade to enhance the Suez Canal. During the celebration, Madbouly inaugurated several projects via video conference, including the opening of a center for innovation and excellence for the SCA and a new waste collection and removal service for passing ships. The celebration also saw the addition of 23 new marine units to the canal's fleet While addressing the assembled diplomats, Madbouly encouraged foreign ambassadors to motivate their national companies to invest in the Suez Canal Economic Zone, highlighting the benefits and incentives available to investors. Madbouly emphasized that the Suez Canal, a vital artery for global navigation, is a source of pride for every Egyptian citizen. He noted Egypt's historical commitment to safeguarding the canal as a symbol of national dignity and sovereignty. The prime minister discussed recent efforts to develop the canal, particularly in relation to the doubling of the navigational channel, and emphasized the significance of the canal in light of regional developments affecting maritime security in the Red Sea. He also explained that regional developments and their impact on navigation security in the Red Sea unequivocally confirm the importance of the Suez Canal to the world and its impact on international trade. Red Sea tensions have erupted when Houthis of Yemen started a series of attacks on vessels linked to Israel and US warships in the Red Sea, expressing solidarity with the Palestinian people during the war that began in October 2023. These attacks have severely disrupted maritime traffic, prompting many vessels to avoid the Suez Canal in favor of longer routes, negatively impacting Egypt's economy. Egypt reported a monthly revenue drop of about $800 million from the Suez Canal due to the tensions in the Red Sea. In 2024, canal revenues plummeted by over 60% compared to 2023, resulting in an estimated loss of $7 billion for the country. The United States has conducted ongoing strikes in Yemen to deter the Houthis from targeting Israeli ships, coinciding with Israel's renewed war in Gaza since March 18. The Israeli attacks have effectively broken a ceasefire agreement facilitated by Egypt, Qatar and the US, which had led to a temporary halt in Houthi maritime attacks. During the event, Chairman of the SCA Osama Rabie asserted that the Suez Canal remains the shortest and safest route globally. He reported that the highest number of vessels transiting the canal occurred in 2023, with 26,434 ships passing through, emphasizing that 90% of the world's shipping traffic relies on the canal. REVOLUTIONIZING SUEZ CANAL Prime Minister Madbouly underlined the unprecedented security crisis in the Red Sea with the situation posing a challenge to Egypt's interests, given that the canal is a crucial source of foreign currency. He concluded by stating that since the onset of the war, Egypt has remained cognizant of the political and economic ramifications, opting not to take any actions that would conflict with its regional role. Instead, the government has focused on effective measures to address the root causes of the crisis politically, while also taking steps to mitigate its economic impacts through enhanced investments, localization of heavy industries, and alignment with global trends toward clean and renewable energy, he added. Madbouly noted that this approach has led to a fundamental transformation in the activities and services of the Suez Canal, evolving from a primarily navigational authority into a multifaceted entity offering a diverse range of maritime and logistical services.
Egypt Today
26-03-2025
- Politics
- Egypt Today
PM stresses emergency preparedness across Egypt during Eid Al-Fitr holiday
A file photo of Eid celebrations in Cairo CAIRO – 26 March 2025: Prime Minister Mustafa Madbouly highlighted the importance of maintaining a state of emergency readiness among all relevant agencies during the Eid Al-Fitr holiday. During the weekly Cabinet meeting on Wednesday, Madbouly stressed the need for vigilance among emergency teams and coordination with the Cabinet's crisis center to address any potential emergencies that may arise. Egyptians are preparing for Eid Al-Fitr, commonly referred to as the Smaller Feast, with its first day expected to be observed this year in Egypt and several other countries next Sunday. During Eid, Egyptians enjoy public parks and other outings with their families and friends, sharing joy amid enhanced security measures to prevent any negative incidents as well intensified round-the-clock health services. According to Cabinet decisions, public and private sector employees will have a four-day holiday for Eid Al-Fitr this year, from Saturday to Tuesday.
Egypt Today
23-03-2025
- Climate
- Egypt Today
Egypt Climbs Two Spots in the CCPI 2025, Ranking 20th: CAPMAS
Egypt has moved up two places in the Climate Change Performance Index (CCPI) for 2025, securing the 20th position out of 67 countries CAIRO – 23 March 2025: Egypt has moved up two places in the Climate Change Performance Index (CCPI) for 2025, securing the 20th position out of 67 countries, up from 22nd last year, according to a press release from the state-owned Central Agency for Public Mobilization and Statistics (CAPMAS) on Sunday. The CAPMAS statement was issued in conjunction with World Meteorological Day, which is observed annually on March 23. This day marks the founding of the World Meteorological Organization (WMO) and the implementation of the Convention on Meteorology, aiming to support countries in preserving the environment and achieving sustainable development goals. According to the CCPI 2025, Egypt received "high" ratings in Greenhouse Gas (GHG) Emissions and Energy Use, a "medium" rating in Climate Policy, and a "very low" rating in Renewable Energy. On May 20, 2022, Egypt launched its National Strategy for Climate Change 2050, aimed at improving citizens' quality of life, fostering sustainable economic growth, and preserving natural resources. Egypt is one of the most vulnerable countries to the negative impacts of climate change, which threaten key sectors such as agriculture, water resources, coastal areas, health, population, and infrastructure. Prime Minister Mustafa Madbouly highlighted these challenges during the launch of the national strategy, stressing that these impacts pose an additional layer of difficulty to the nation's ongoing challenges.
Egypt Today
17-03-2025
- Egypt Today
Egypt's PM Reviews High-Level Security and Logistical Preparations for GEM Inauguration
CAIRO - 17 March 2025: Egyptian Prime Minister Mustafa Madbouly announced that top-level security and logistical preparations are underway for the opening celebrations of the Grand Egyptian Museum (GEM), scheduled for July 3, 2025. During a cabinet meeting, Madbouly stated that the major event would be attended by a large number of kings, presidents, and prime ministers. He instructed that the airports receiving Egypt's distinguished guests be fully prepared and heightened to the highest level of readiness. The Prime Minister confirmed that work has already begun on improving the routes and infrastructure surrounding the Grand Egyptian Museum. He emphasized that efforts in the coming months will focus on enhancing the visual appeal of these routes, including site landscaping, lighting, and other improvements to ensure top-tier quality. Madbouly also highlighted that the celebrations will not be limited to Cairo and Giza, but will extend to several governorates across the country. As a result, all sites involved must meet the highest standards. During the meeting, Ambassador Yasser Shaaban shared that lists of invitees—comprising Their Majesties, Highnesses, Excellencies, including kings, presidents, prime ministers, top company CEOs, and other senior officials—had already been prepared. Lieutenant General Kamel El-Wazir added that the three metro stations surrounding the museum will be fully completed before the opening. Additionally, the Ring Road will be operational in the coming days to improve each area's development.
Watani
06-02-2025
- Automotive
- Watani
Egypt Geely's first plant in Africa, MENA delivers in February
The Chinese Geely Auto Group, in collaboration with Auto Mobility (Geely Egypt), has inaugurated a new factory located in the 6th of October City industrial zone to produce Geely cars. This is the company's first industrial venture in Egypt, Africa, and the Middle East. Egypt's Prime Minister Mustafa Madbouly attended the inauguration ceremony together with Industry and Transport Minister Kamel al-Wazir; Planning and International Cooperation Minister Rania al-Mashat; and a number of other cabinet ministers, governors, and senior officials. Present were Ali al-Ghanim, founder of al-Ghanim Sons Automotive Group; and Song Jin, Chairperson of Geely Global Automobile and Vice Chairperson of Geely Auto Holding; also numerous figures from the investment and automotive industry fields. The PM said that the new factory aligns with Egypt's strategic goal of becoming a regional hub for the automotive industry. The new factory, he said, is part of the National strategy launched in 2022 for localising the automotive industry. The Geely factory features two production lines for with a total capacity of up to 10,000 vehicles annually. It is expected to meet domestic demand and export some 30,000 vehicles. Mr Jin announced that the factory will be producing the Emgrand 2025 sedan model and the Coolray 2025 SUV. He said that the first batch of Emgrand and Coolray vehicles will be produced in Egypt based on the BMA (B-segment Modular Architecture) platform developed by Geely. Both models, Mr Jin said, offer efficient use of space and positive and negative safety designs, ensuring an excellent driving experience for Egyptian consumers. The Coolray model, he said, whose sales exceeded one million units globally, will be assembled locally in Egypt. Mr Jin explained that the factory is part of Geely's efforts to enhance local production of its vehicles in line with the Egyptian government's strategy to localise the automotive industry. The factory, he asserted, boosts the national economy and creates new job opportunities. 'Our current investments in the automotive sector stand at approximately USD250 million,' he said, stressing that Geely continues to expand its local operations and network in the Egyptian market. He explained that Geely has established over 40 sales and service centres across Egypt in just a few years, offering a wide range of vehicles, from A-class sedans to D-class SUVs. Mr Jin highlighted that Geely had developed 14 major components locally, with a local content rate exceeding 45 per cent, stressing that the company intends to produce more components locally in future. Furthermore, Jim explained that this plant is particularly significant for Geely and the Egyptian automotive industry as it is Geely's first CKD (Completely Knocked Down) factory in Africa and the Middle East. For his part, Fahad Ali al-Ghanim, Chairperson of Auto Mobility, said, 'We have invested up to USD100 million in the manufacturing and assembly of Geely vehicles in Egypt through Auto Mobility.' He noted that recent enhancements in Egypt's business environment have encouraged both Arab and Chinese investors to make new investments and expand current ones. Auto Mobility declared that the first models produced will be delivered to customers in February 2025. Geely Auto Group, headquartered in Hangzhou, China, is a prominent automobile manufacturer founded in 1997 as a subsidiary of Zhejiang Geely Holding Group. The group oversees several well-known brands, including Geely Auto, Lynk & Co, Proton Cars, and Geometry. Watani International 6 February 2025 Comments comments Tags: Geely plant in EgyptLillian Nabil
