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Egypt Independent
4 days ago
- Business
- Egypt Independent
PM: State Continues Cooperation with Partners to Capitalize on Promising Chances in Energy
Prime Minister Mostafa Madbouly affirmed that the state continues to pursue its approach of maintaining cooperation with partners to ensure the best use of promising opportunities in Egypt's energy sector, serving the mutual interests of all parties. He emphasized the government's ongoing efforts to take necessary measures to ensure this. These statements came during the weekly Cabinet meeting chaired by the premier on Wednesday May 28, 2025. He highlighted the recent activities of President Abdel Fattah al-Sisi, including his meeting two days ago with the delegation of American businessmen participating in the Egypt-US Economic Forum, held in Cairo. The president also met with the president of the US Chamber of Commerce, the chairman of the US-Egypt Business Council, and the chairman of Apache Corporation, in addition to representatives of various American companies. Madbouly noted that during these meetings, President Sisi emphasized Egypt's readiness to collaborate with the US business community and investors in all areas of mutual interest. The president also expressed Egypt's aspiration to establish a US industrial zone in the Suez Canal Economic Zone, affirming the country's willingness to provide the necessary facilities to American investors. The prime minister reiterated the government's welcoming stance toward US investments, expressing its readiness to offer needed support and remove any obstacles to ensure the success of American companies and investors in Egypt. This aligns with the government's ongoing efforts to empower the private sector and broaden its role in driving economic development. In this context, Madbouly mentioned that President al-Sisi's meeting with the CEO of Shell Global, during which the president emphasized Egypt's efforts to improve the investment climate and address any challenges investors might face. He also stressed the government's keenness to honor financial commitments of companies in order to build mutual trust. The prime minister also referred to his meeting with the vice president of ExxonMobil for Exploration, noting that the government expressed its willingness to provide all possible support and incentives to the company to accelerate drilling operations in the 'Cairo' and 'Masry' concession areas. At the beginning of the Cabinet meeting, the prime minister extended his congratulations to President Sisi, the Egyptian people, members of the government, and all civil servants on the occasion of the beginning of Dhu al-Hijjah and the upcoming Eid al-Adha, praying that the blessed occasion brings prosperity and blessings to Egypt and the entire Arab and Islamic nations. In light of the upcoming Eid holiday, Madbouly emphasized the need for all state agencies and local authorities to be fully prepared, ensuring the provision of various public services during the holiday. He stressed the importance of readying parks, public gardens, tourist sites, and archaeological areas to welcome citizens during the Eid holiday, in addition to the preparedness of utilities and service departments. He underscored the continued operation of markets, exhibitions, and mobile outlets to provide essential and strategic goods to citizens at reasonable prices, particularly through the 'One-Day Market' initiative, suggesting its expansion to cover more areas across the governorates. Madbouly instructed the ministers of supply and internal trade, agriculture and land reclamation, petroleum and the governors to take all necessary measures to ensure the availability of strategic goods and petroleum products across the country especially in coastal areas with intensified daily monitoring throughout the holiday to meet citizens' needs.
CairoScene
4 days ago
- Business
- CairoScene
1,800 US Companies Invested USD 47 Billion in Egypt Over 20 Years
Prime Minister Dr. Madbouly highlights US investment during the 2025 US–Egypt Policy Leaders Forum in Washington D.C. May 29, 2025 More than 1,800 American companies have invested a combined USD 47 billion in Egypt over the past two decades, according to Prime Minister Mostafa Madbouly during his remarks at the 2025 US–Egypt Policy Leaders Forum. Speaking to US business leaders including US Chamber of Commerce CEO Suzanne Clark and Apache CEO John Christmann, Madbouly outlined the sectors that have attracted the most US capital, including energy, technology, manufacturing, and healthcare. He described the figures as a reflection of the strong economic ties between the two countries. Madbouly also discussed ongoing efforts to increase private sector participation in Egypt's economy, including the implementation of the State Ownership Policy and the expansion of the 'Golden License' programme to streamline investment approvals. He pointed to Egypt's strategic location, growing digital infrastructure, and skilled workforce as incentives for future investment, and encouraged further collaboration between US firms and Egyptian partners.
Middle East
4 days ago
- Business
- Middle East
OPEN// PM: State continues cooperation with partners to capitalize on promising chances in energy
CAIRO, May 28 (MENA) - Prime Minister Moustafa Madbouli affirmed that the state continues to pursue its approach of maintaining cooperation with partners to ensure the best use of promising opportunities in Egypt's energy sector, serving the mutual interests of all parties. He emphasized the government's ongoing efforts to take necessary measures to ensure this. These statements came during the weekly Cabinet meeting chaired by the premier on Wednesday. He highlighted the recent activities of President Abdel Fattah El Sisi, including his meeting two days ago with the delegation of American businessmen participating in the Egypt-US Economic Forum, held in Cairo. The president also met with the president of the US Chamber of Commerce, the chairman of the US-Egypt Business Council, and the chairman of Apache Corporation, in addition to representatives of various American companies. Madbouli noted that during these meetings, President Sisi emphasized Egypt's readiness to collaborate with the US business community and investors in all areas of mutual interest. The president also expressed Egypt's aspiration to establish a US industrial zone in the Suez Canal Economic Zone, affirming the country's willingness to provide the necessary facilities to American investors. The prime minister reiterated the government's welcoming stance toward US investments, expressing its readiness to offer needed support and remove any obstacles to ensure the success of American companies and investors in Egypt. This aligns with the government's ongoing efforts to empower the private sector and broaden its role in driving economic development. In this context, Madbouli mentioned that President Sisi's meeting with the CEO of Shell Global, during which the president emphasized Egypt's efforts to improve the investment climate and address any challenges investors might face. He also stressed the government's keenness to honor financial commitments of companies in order to build mutual trust. The prime minister also referred to his meeting with the vice president of ExxonMobil for Exploration, noting that the government expressed its willingness to provide all possible support and incentives to the company to accelerate drilling operations in the 'Cairo' and 'Masry' concession areas. At the beginning of the Cabinet meeting, the prime minister extended his congratulations to President Sisi, the Egyptian people, members of the government, and all civil servants on the occasion of the beginning of Dhu al-Hijjah and the upcoming Eid al-Adha, praying that the blessed occasion brings prosperity and blessings to Egypt and the entire Arab and Islamic nations. In light of the upcoming Eid holiday, Madbouli emphasized the need for all state agencies and local authorities to be fully prepared, ensuring the provision of various public services during the holiday. He stressed the importance of readying parks, public gardens, tourist sites, and archaeological areas to welcome citizens during the Eid holiday, in addition to the preparedness of utilities and service departments. He underscored the continued operation of markets, exhibitions, and mobile outlets to provide essential and strategic goods to citizens at reasonable prices, particularly through the "One-Day Market" initiative, suggesting its expansion to cover more areas across the governorates. Madbouli instructed the ministers of supply and internal trade, agriculture and land reclamation, petroleum and the governors to take all necessary measures to ensure the availability of strategic goods and petroleum products across the country—especially in coastal areas—with intensified daily monitoring throughout the holiday to meet citizens' needs. (MENA) Y R E/R G E
National Observer
16-05-2025
- Business
- National Observer
US ambassador and Trump's former presidential rival will speak in Ottawa
Global business leaders and diplomats will converge on Ottawa today in an attempt to chart a path through the United States' tariff war. The B7 conference in the nation's capital is a partner event to the G7 summit set for next month in Alberta. This year's conference is tackling trade uncertainty as US President Donald Trump attempts to overturn the global trading order with his tariffs. Among those speaking today in Ottawa are US Ambassador to Canada Pete Hoekstra and Nikki Haley, the former governor of South Carolina who was Trump's rival for the Republican presidential nomination. Attendees are also expected to talk about developing artificial intelligence responsibly and protecting supplies of critical minerals, two sectors where Canada is looking to build its presence. The head of the US Chamber of Commerce said ahead of today's events that trade is the "foundation" of relationships among the G7 and urged stronger commercial ties within the group. Stronger ties has been a recurring theme of conversations between Prime Minister Mark Carney and his international counterparts following his recent election win. Carney spoke with Mexican President Claudia Sheinbaum on Thursday, with the Prime Minister's Office saying they discussed "building on the strong trade relationship between the two countries, grounded in the Canada-United States-Mexico Agreement, and the imperative to strengthen their respective economies against future shocks." His office said in a statement that the leaders have tasked senior officials with finding ways to deepen bilateral relations. Carney also spoke on Thursday with Dutch Prime Minister Dick Schoof, discussing trade and international security.
South China Morning Post
01-05-2025
- Business
- South China Morning Post
Small US businesses seek immediate relief from Trump tariffs, calling them crippling
Saying they cannot afford to wait while trade negotiations unfold, small businesses are calling for relief from US President Donald Trump's tariffs, warning that surging costs and disrupted supply chains were pushing many companies to the brink of collapse. Advertisement At an event organised Thursday by the US Chamber of Commerce in Washington, small business owners and industry experts urgently sought immediate action as a growing number of US companies – large and small – brace for the disruptive impact of tariffs. The chamber – the country's largest trade group, representing nearly 3 million American companies of all sizes – sent a letter to Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer seeking automatic exclusions for small importers who lack the capital reserves or supply chain flexibility to absorb the tariffs. It also demanded exclusions for products that cannot be produced in the US or are not readily available domestically and – noting that more than 40 million US jobs depend on trade – a process for companies to apply for relief if tariffs pose 'significant risks' to employment. Trump imposed a cumulative 145 per cent tariff on Chinese imports and a 10 per cent universal tariff on goods from other countries, with some imports from Canada and Mexico facing a 25 per cent duty. Except for China, Trump paused the imposition of the tariffs for 90 days to allow trading partners time to negotiate. Advertisement Trade and his cabinet secretaries claim that trade talks with China are under way, though Beijing has denied any negotiations are taking place.
