Latest news with #SherifEl-Sayyad
Daily News Egypt
17-05-2025
- Business
- Daily News Egypt
Egypt eyes $7bn in engineering exports by 2025-end
Egypt's engineering sector is aiming for a record-breaking $7bn in exports by the end of 2025, according to Sherif El-Sayyad, Chairperson of the Engineering Export Council of Egypt. In the first quarter of 2025 alone, engineering exports grew by 12%, reaching $1.489bn compared to $1.330bn during the same period in 2024. El-Sayyad stated that the Council is targeting an annual export growth rate of between 20% and 30%, which, if achieved, would mark the highest export figure in the sector's history. His remarks came during the fourth edition of the EXXA Engineering Export Excellence Awards, a major event organized by the Engineering Export Council. The celebration brought together a wide range of sector representatives, as well as senior officials from the Ministries of Investment, Trade and Industry, and Finance. El-Sayyad highlighted the Council's ongoing efforts to expand into new markets and overcome sector-specific challenges. He noted that a growing number of Egyptian companies are producing high-quality products that carry the 'Made in Egypt' label and are proving competitive on the global stage. El-Sayyad also pointed to the positive impact of new foreign investments entering the Egyptian market. Many of these investments are geared toward export-oriented production, with at least 50% of their output intended for international markets. This trend, he explained, enhances the sector's growth potential and strengthens Egypt's position in global engineering supply chains. Executive Director of the Council, Mai Helmy, added that the EXXA Awards are part of the state's broader strategy to build an integrated export ecosystem. By recognizing outstanding performance across all segments of the engineering industries, the awards aim to foster a competitive spirit, encourage innovation, and support the expansion of exports into new global markets. This year's EXXA Awards honoured leading Egyptian exporters across a variety of categories. Samsung Electronics Egypt was named the largest global exporter, while United Metals Company – Elsewedy received recognition as the largest Egyptian exporter among large companies. In the medium and small enterprise categories, Kiriazi and Menlo were among the top awardees. SE Wiring Systems led the free zones category, while BICC Egypt and Pico Egypt were recognized for exceptional export growth. Energia Power Cables earned awards for innovation and as a standout young exporter. In terms of product specialization, Fresh Electric was recognized as a leader in home appliances, and Egyptian Engineering received honours in the machinery category. Chloride Egypt topped the automotive parts segment, and Taiba was acknowledged for its performance in household utensils. El Sewedy Electric led in electrical exports, while the Alsulaiman-Sotraco alliance stood out in the metals category.
Zawya
12-03-2025
- Business
- Zawya
Egypt's engineering industries exports surge 42% in January 2025
The Engineering Export Council of Egypt (EECE), led by Sherif El-Sayyad, announced that engineering exports increased by 42% in January 2025, reaching $526.2m compared to $371.4m in January 2024. El-Sayyad emphasized that this strong start to the year reinforces the council's vision to achieve a historic milestone, surpassing the $6bn mark in exports for the first time. He highlighted the importance of reducing production costs and deepening local manufacturing to sustain growth and attract foreign investments in strategic industries. He also stressed the need for incentive packages to encourage investment in advanced technology components with high import costs, while calling for the establishment of accreditation laboratories and the introduction of tax and customs incentives for importing essential raw materials and production components. The EECE's monthly report showed strong growth across several key engineering sectors in January 2025 compared to the same period in 2024. Cable exports increased by 72.8%, while electrical appliances saw a 64.9% rise. Automotive components recorded a 9.5% increase, and home appliances grew by 17.1%. Electrical and electronic industries expanded by 27.3%, while ship and boat exports surged by 284.6%. Machinery and equipment exports also posted strong growth, rising by 65.9%. May Helmy, Executive Director of the Engineering Export Council, underscored the vital role of engineering exports in driving economic growth, creating new job opportunities, and achieving national development targets. She stressed that the council's strategy is focused on enhancing the quality of exported products to maintain the current upward trend. She also reaffirmed the EECE's commitment to promoting Egyptian engineering industries globally through participation in international trade fairs and conferences, organizing buyer missions, and launching overseas trade delegations. Egyptian engineering exports saw increased demand across multiple international markets. In Europe, key destinations included Slovakia, the United Kingdom, Turkey, France, Germany, the Netherlands, Georgia, Italy, and the Czech Republic. In Asia, Saudi Arabia was the top importer of Egyptian engineering products, followed by the UAE, Iraq, Jordan, China, and Lebanon. Several African markets, including Algeria, Morocco, Central Africa, Tunisia, Kenya, Nigeria, Ghana, Côte d'Ivoire, Tanzania, Uganda, Mauritius, and Madagascar, also saw a rise in Egyptian engineering imports. Additionally, exports to the Americas increased, particularly to Uruguay and Mexico. With sustained growth and a widening global footprint, Egypt's engineering sector is on track for an unprecedented export performance, reinforcing its position as a key player in international markets.
Daily News Egypt
12-03-2025
- Business
- Daily News Egypt
Egypt's engineering industries exports surge 42% in January 2025
The Engineering Export Council of Egypt (EECE), led by Sherif El-Sayyad, announced that engineering exports increased by 42% in January 2025, reaching $526.2m compared to $371.4m in January 2024. El-Sayyad emphasized that this strong start to the year reinforces the council's vision to achieve a historic milestone, surpassing the $6bn mark in exports for the first time. He highlighted the importance of reducing production costs and deepening local manufacturing to sustain growth and attract foreign investments in strategic industries. He also stressed the need for incentive packages to encourage investment in advanced technology components with high import costs, while calling for the establishment of accreditation laboratories and the introduction of tax and customs incentives for importing essential raw materials and production components. The EECE's monthly report showed strong growth across several key engineering sectors in January 2025 compared to the same period in 2024. Cable exports increased by 72.8%, while electrical appliances saw a 64.9% rise. Automotive components recorded a 9.5% increase, and home appliances grew by 17.1%. Electrical and electronic industries expanded by 27.3%, while ship and boat exports surged by 284.6%. Machinery and equipment exports also posted strong growth, rising by 65.9%. May Helmy, Executive Director of the Engineering Export Council, underscored the vital role of engineering exports in driving economic growth, creating new job opportunities, and achieving national development targets. She stressed that the council's strategy is focused on enhancing the quality of exported products to maintain the current upward trend. She also reaffirmed the EECE's commitment to promoting Egyptian engineering industries globally through participation in international trade fairs and conferences, organizing buyer missions, and launching overseas trade delegations. Egyptian engineering exports saw increased demand across multiple international markets. In Europe, key destinations included Slovakia, the United Kingdom, Turkey, France, Germany, the Netherlands, Georgia, Italy, and the Czech Republic. In Asia, Saudi Arabia was the top importer of Egyptian engineering products, followed by the UAE, Iraq, Jordan, China, and Lebanon. Several African markets, including Algeria, Morocco, Central Africa, Tunisia, Kenya, Nigeria, Ghana, Côte d'Ivoire, Tanzania, Uganda, Mauritius, and Madagascar, also saw a rise in Egyptian engineering imports. Additionally, exports to the Americas increased, particularly to Uruguay and Mexico. With sustained growth and a widening global footprint, Egypt's engineering sector is on track for an unprecedented export performance, reinforcing its position as a key player in international markets.
Egypt Today
11-03-2025
- Business
- Egypt Today
Egypt's engineering exports record $526.2 million in January 2025
CAIRO – 11 March 2025: The Engineering Export Council of Egypt (EECE), led by Sherif El-Sayyad, announced a 42 percent increase in engineering sector exports in January 2025, reaching $526.2 million, compared to $371.4 million in the same month of 2024. This significant growth reflects the sector's strong momentum and its increasing contribution to the national economy. According to the council's monthly report, several key industries within the engineering sector recorded remarkable growth. The cables sector led the way with a 72.8 percent increase in exports, followed by electrical appliances, which saw a 64.9 percent rise. Automotive components experienced a 9.5 percent increase, while home appliances recorded a 17.1 percent jump. The electrical and electronic industries grew by 27.3 percent, and ship and boat exports surged by an impressive 284.6 percent. Additionally, machinery and equipment exports expanded by 65.9 percent, demonstrating the sector's growing international demand. El-Sayyad emphasized that this strong performance at the beginning of 2025 aligns with the council's broader vision to drive an unprecedented export boom. He highlighted that EECE aims to surpass $6 billion in engineering exports for the first time, positioning the sector as a key contributor to Egypt's economic growth. Mai Helmy, Executive Director of EECE, reinforced the importance of engineering exports in supporting economic expansion, creating job opportunities, and achieving national development goals. She also reaffirmed the council's commitment to enhancing the quality of exported products, ensuring the sector's long-term sustainability and competitiveness in international markets. Egyptian engineering exports witnessed increased demand from several key global markets. In Europe, exports rose to Slovakia, the United Kingdom, Turkey, France, Germany, the Netherlands, Georgia, Italy, and the Czech Republic. In Asia, major importers included Saudi Arabia, the UAE, Iraq, Jordan, China, and Lebanon. African markets also showed strong interest in Egyptian engineering products, with notable growth in Algeria, Morocco, Central Africa, Tunisia, Kenya, Nigeria, Ghana, Côte d'Ivoire, Tanzania, Uganda, Mauritius, and Madagascar. Furthermore, Egyptian exports expanded into the Americas, reaching Uruguay and Mexico.
