Latest news with #Shimi
Egypt Today
4 days ago
- Business
- Egypt Today
Egypt & U.S. Form Joint Venture to Boost Global Pharmaceutical Exports
CAIRO - 28 May 2025: The Holding Company for Pharmaceuticals, Chemicals, and Medical Supplies has entered into a strategic joint venture with American pharmaceutical firm Dawah Pharma. This partnership marks a significant step in Egypt's push to expand its pharmaceutical footprint globally, with plans to manufacture and export a broad range of pharmaceutical products and dietary supplements to international markets. Minister of Public Business Sector Mohamed Shimi announced that the new venture will produce a diverse portfolio of products, including ampoules, sterile injections, ophthalmic solutions, over-the-counter (OTC) medications, and dietary supplements. The joint venture structure grants the Egyptian side a 40 percent share, while Dawah Pharma holds a 60% majority stake. The newly formed company will focus primarily on exporting its products and opening new channels in global markets. In a milestone move, the partnership's first phase will see the manufacture and export of six specific dietary supplements to the United States—marking the first time in the Holding Company's history to achieve such a feat after meeting rigorous international standards and requirements. The agreement also leverages advanced pharmaceutical manufacturing technologies, including the production of syrups, tablets, ampoules, pre-filled syringes, and transdermal patches. These innovations are expected to significantly accelerate product deployment and support long-term growth for the Holding Company and its subsidiaries. Shimi stressed that the new company will strictly follow international regulatory standards, particularly those enforced by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). Adhering to these benchmarks will boost the global competitiveness of Egyptian pharmaceuticals—not only in the high-demand markets of Europe and North America but also in emerging markets across Africa and Asia.
Zawya
07-04-2025
- Business
- Zawya
Egypt: HOTAC hotels reach full occupancy during Eid Al-Fitr holiday
Egypt - Hotels affiliated with the Holding Company for Tourism and Hotels (HOTAC), under the Ministry of Public Enterprises Sector, achieved near or full occupancy rates during the Eid Al-Fitr holiday, reflecting robust demand for Egyptian destinations from local, Arab, and international tourists. In Cairo, several key hotels recorded exceptional performance. The Nile Ritz-Carlton, operated by the Egyptian General Company for Tourism and Hotels (EGOTH) and located in Tahrir Square overlooking the Nile, reported a 96% occupancy rate. Downtown Cairo's Cleopatra and Cosmopolitan Hotels—also affiliated with EGOTH—reached full occupancy. Meanwhile, the Steigenberger Pyramids Hotel in Giza, managed by the Tourism Urbanization Company, registered an 89% occupancy rate. In coastal and tourist areas, HOTAC hotels performed similarly well. The Steigenberger El-Lesan Hotel in Ras El-Bar, Damietta, achieved a 93% occupancy rate. In South Sinai, the Sofitel Dahab Hotel, affiliated with EGOTH, hit 100% occupancy, while the Retak Dahab Hotel reached 94%. Upper Egypt also saw strong numbers. The Steigenberger Ashti Hotel in Luxor, affiliated with the Arab Company for Tourism and Hotel Investment (Ashti), recorded 92% occupancy, and the Port Said Hotel, owned by EGOTH, reached 85%. Minister of Public Enterprises Sector Mohamed Shimi emphasized that these divs reflect the success of the ministry's comprehensive strategy to upgrade hotel infrastructure, expand and modernize existing properties, and restore Egypt's historic hotels through strategic investments and partnerships. Shimi added that improving service quality and enhancing the capabilities of hotel staff are key components of this development plan. 'These efforts aim to boost competitiveness, raise occupancy rates, and ensure guest satisfaction,' he said. The minister also affirmed the government's commitment to reinforcing the role of HOTAC and its subsidiaries in strengthening Egypt's position as a top global tourism destination. 'We are actively pursuing every opportunity to support this vital sector and showcase Egypt's unique offerings to the world,' Shimi stated.
Daily News Egypt
07-04-2025
- Business
- Daily News Egypt
HOTAC hotels reach full occupancy during Eid Al-Fitr holiday
Hotels affiliated with the Holding Company for Tourism and Hotels (HOTAC), under the Ministry of Public Enterprises Sector, achieved near or full occupancy rates during the Eid Al-Fitr holiday, reflecting robust demand for Egyptian destinations from local, Arab, and international tourists. In Cairo, several key hotels recorded exceptional performance. The Nile Ritz-Carlton, operated by the Egyptian General Company for Tourism and Hotels (EGOTH) and located in Tahrir Square overlooking the Nile, reported a 96% occupancy rate. Downtown Cairo's Cleopatra and Cosmopolitan Hotels—also affiliated with EGOTH—reached full occupancy. Meanwhile, the Steigenberger Pyramids Hotel in Giza, managed by the Tourism Urbanization Company, registered an 89% occupancy rate. In coastal and tourist areas, HOTAC hotels performed similarly well. The Steigenberger El-Lesan Hotel in Ras El-Bar, Damietta, achieved a 93% occupancy rate. In South Sinai, the Sofitel Dahab Hotel, affiliated with EGOTH, hit 100% occupancy, while the Retak Dahab Hotel reached 94%. Upper Egypt also saw strong numbers. The Steigenberger Ashti Hotel in Luxor, affiliated with the Arab Company for Tourism and Hotel Investment (Ashti), recorded 92% occupancy, and the Port Said Hotel, owned by EGOTH, reached 85%. Minister of Public Enterprises Sector Mohamed Shimi emphasized that these figures reflect the success of the ministry's comprehensive strategy to upgrade hotel infrastructure, expand and modernize existing properties, and restore Egypt's historic hotels through strategic investments and partnerships. Shimi added that improving service quality and enhancing the capabilities of hotel staff are key components of this development plan. 'These efforts aim to boost competitiveness, raise occupancy rates, and ensure guest satisfaction,' he said. The minister also affirmed the government's commitment to reinforcing the role of HOTAC and its subsidiaries in strengthening Egypt's position as a top global tourism destination. 'We are actively pursuing every opportunity to support this vital sector and showcase Egypt's unique offerings to the world,' Shimi stated.
