Latest news with #PublicBusinessSector
Fibre2Fashion
14-05-2025
- Business
- Fibre2Fashion
25 textile firms from China explore partnership opportunities in Egypt
A Chinese delegation of investors and representatives from around 25 textile and garment companies recently visited Egypt to explore partnership opportunities. It met Egyptian Minister of Public Business Sector Mohamed Shimy, who briefed the representatives about the country's investment potential in the sector. A Chinese delegation from around 25 textile and garment firms recently visited Egypt to explore partnership opportunities. It met Egyptian Minister of Public Business Sector Mohamed Shimy, who briefed it about the country's investment potential. The delegation was presented with a portfolio of high-value products, including yarns, fabrics, garments, home textiles and medical textiles. The Chinese delegation was led by Zhang Tao, deputy marketing director of the China National Textile and Apparel Council (CNTAC), and Xu Yingxin, vice president of the China Textile Association. The meeting was held at the Cotton, Spinning, Weaving, and Garments Holding Company headquarters in Egypt, according to domestic media reports. The delegation was presented with a portfolio of high-value products, including yarns, fabrics, readymade garments, home textiles and medical textiles produced by the holding company's subsidiaries. The minister highlighted Egypt's recent progress in reviving ginning facilities and developing seven major manufacturing complexes. In December 2024, Prime Minister Mostafa Madbouly announced the completion of the first phase of Egypt's national project to modernise and revitalise the textile industry. The initiative's total cost exceeds EGP 56 billion. Of this, EGP 22 billion has been allocated for infrastructure development, with an additional EGP 640 million invested in cutting-edge machinery and equipment. Fibre2Fashion News Desk (DS)
Egypt Independent
08-05-2025
- Business
- Egypt Independent
Egypt, Turkey discuss cooperation, investment chances
CAIRO, May 7 (MENA) – Minister of Public Business Sector Mohamed Shimi met with Board Chairman of Turkish Sahinler Group Kemal Sahin to explore potential cooperation between the group and companies affiliated with the ministry, the Egyptian Cabinet reported on Wednesday. The discussion focused on investment opportunities in various sectors, particularly cotton, spinning, textiles, and ready-made garments, as well as the tourism and hotel industries. Shimi highlighted the ministry's comprehensive strategy aimed at improving the performance of state-owned companies, enhancing sustainability, and fostering governance and transparency to create an attractive investment environment. He emphasized the goal of boosting operational efficiency, maximizing state asset returns, and improving the quality of products and services. For his part, Sahin presented an overview of Sahinler Group, which was founded in 1982, and its diversified operations across multiple sectors, including garments, construction, free zone management, tourism, hotels, and food and beverages. He expressed the group's interest in expanding into the Egyptian market, citing the country's promising industrial, investment, tourism potential and its willingness to collaborate with Egypt's public sector companies, particularly in textiles and tourism. (MENA)
See - Sada Elbalad
23-04-2025
- Business
- See - Sada Elbalad
Egypt, Turkey Explore Deeper Economic, Investment Co-op
Nada Mustafa Egypt's Minister of Public Business Sector, Mohamed El-Shimy received Turkish Ambassador Salih Mutlu Şen, along with his accompanying delegation at the ministry's headquarters in the New Administrative Capital (NAC). The meeting came as part of ongoing efforts to strengthen economic and trade relations between the two countries. During the meeting, the two sides discussed ways to enhance cooperation in various mutually beneficial fields, particularly in industry, investment, and knowledge exchange. They also reviewed available investment opportunities within Egypt's public business sector, and explored prospects for partnerships between ministry-affiliated companies and Turkish firms in sectors such as textiles, fertilizers, paper manufacturing, and hospitality. At the outset of the meeting, El-Shimy welcomed Turkish ambassador and his delegation, highlighting the deep historical ties between Egypt and Turkey. He also reaffirmed Egypt's commitment to advancing cooperation that serves shared interests and supports economic development in both countries. Moreover, El-Shimy pointed out the existence of numerous promising investment opportunities across the diverse fields of the ministry's affiliated companies. Furthermore, he stressed Egypt's openness to partnerships with both local and foreign private sector investors, and extended a welcome to further Turkish investment in the Egyptian market. El-Shimy also noted the incentives and facilitation measures provided by the state to attract foreign investors. For his part, Şen expressed Turkey's keen interest in expanding avenues of cooperation with Egypt. He praised Egypt's recent economic reforms and the vast potential of its public business sector, acknowledging the significant opportunities for collaboration across various industries. Turkish Ambassador also emphasized the enthusiasm of Turkish companies to broaden their investment footprint in Egypt. Furthermore, both sides also agreed to organize bilateral meetings between representatives of companies from both countries, in addition to arranging field visits for Turkish business leaders to a number of factories and companies affiliated with the ministry, to explore potential investment opportunities on the ground. Minister of Public Business Sector and Turkish Ambassador Minister of Public Business Sector and Turkish Ambassador read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) 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
Egypt Independent
27-02-2025
- Automotive
- Egypt Independent
PM Inspects Model of Tourist Bus of Misr Travel Manufactured By Nasr Automotive
Prime Minister Mostafa Madbouly lauded the quality of manufacturing and innovation in designing a tourist bus for Misr Travel manufactured by Nasr Automotive Company. He asserted that Nasr Automotive Company is making significant progress in localizing the automotive industry in Egypt in line with the country's strategy for developing the automotive sector. He added that the Egyptian market is promising and offers many incentives from which international automotive companies can benefit. He made the remarks while inspecting the tourist bus model. The inspection tour came ahead of the weekly government meeting. Mohamed Shimi, Minister of Public Business Sector, stated that the tourist bus inspected today is part of a number of buses delivered to East Delta Travel and West and Middle Delta Travel Bus companies, which are affiliated with the Ministry of Transport. The minister added that the tourist bus has a local component ratio exceeding 50 percent. He added that the company is transferring modern technology, localizing auto-feeding industries, maximizing local component and providing maintenance services. He said the project falls within the framework of the ministry's strategy to support local manufacturing and develop tourist transport. He noted that the cooperation between Misr Travel and Nasr Automotive represents a successful model of integration between the ministry's affiliated companies to achieve sustainable development goals.
Egypt Today
05-02-2025
- Business
- Egypt Today
Egypt launches ambitious development strategy for public-sector enterprises
CAIRO – 5 February 2025: The Egyptian government is rolling out an extensive modernization plan to upgrade and enhance the efficiency of public-sector enterprises across various industries, including mining, steel, textiles, real estate, and urban development. In a recent meeting, Prime Minister Mostafa Madbouly met with Minister of Public Business Sector Mohamed Shimi to assess the progress of these development projects. Discussions focused on revitalizing state-owned companies, optimizing resources, and attracting private sector investments to improve operational efficiency and ensure long-term sustainability. To strengthen industrial output, the government is executing key projects. El Nasr Mining Company is leasing two phosphate washing plants to a private company to increase the value of phosphate ore. Additionally, a phosphate ore concentration project is in progress, backed by an investment of $305 million. In the steel sector, Delta Steel Company has introduced two billet production lines with a total capacity of 500,000 tons per year. The first phase has been completed, while the second phase is approaching final delivery. Similarly, El Nasr Pipes Company is developing two new production lines: one for longitudinal welding pipes with a capacity of 25,000 tons per year, and another for seamless pipes, capable of producing 5,000 tons per year, with a total investment of $200 million. The Glass & Crystal Company is also advancing its operations with the establishment of a solar glass production unit. This project, valued at EGP 327 million, is expected to yield an annual output of 25,500 tons, contributing to the country's renewable energy sector. Egypt is making significant investments in real estate and urban expansion, particularly through the Heliopolis Company for Housing & Development. This initiative aims to enhance infrastructure, develop new urban areas, and increase the supply of residential and commercial spaces. A major focus of the government's strategy is the revitalization of the textile sector, a historically vital part of Egypt's economy. The Misr Spinning & Weaving Company in Mahalla is undergoing a large-scale development project worth EGP 9.1 billion, with an additional €289.5 million allocated for state-of-the-art machinery. In Kafr El-Dawar, the Egypt Spinning & Weaving Company is receiving EGP 8.3 billion for construction, alongside $129.65 million for new equipment. Similarly, the Damietta Textile Company is undergoing a EGP 4.6 billion redevelopment, with €71.7 million earmarked for modern machinery. Additional investments include EGP 2.5 billion for the Helwan Textile Company and EGP 1.1 billion for the Upper Egypt Textile Company, each receiving further funding for equipment upgrades. During the meeting, Prime Minister Madbouly emphasized the crucial role of private sector partnerships in advancing these projects. He stressed the need for strategic collaborations, particularly in the textile industry, to ensure efficient management, optimized operations, and long-term sustainability. Egypt's ambitious development agenda underscores its commitment to industrial growth, economic expansion, and urban transformation. By leveraging private investments and modernizing infrastructure, the country aims to position its public enterprises as globally competitive and high-performing entities that drive sustained national economic progress.
