Industry News
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Egypt aims for private sector to constitute over 70% of its economy
The Egyptian government is committed to empowering the private sector to take the lead in driving economic growth and capturing a significant share.
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No changes to Egypt’s load-shedding plan: Official
Load-shedding before Ramadan extended for two hours in each area from between 11 am to five pm, and it will be returned in the same order.
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Prices of electrical appliances drop by 30%
The downward trend in prices is anticipated to persist. Many electrical appliance firms have started to roll out promotional offers on select products
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Egypt's garment industry exports up 25 per cent in first two months of 2024 Text copied from https://tvbrics.com/en/new
Profits from overseas shipments of goods produced by the industry reaching US$464 million compared to US$371 million in the same period of 2023.
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Egypt's MoMP nearing TOT agreements with Thales Group?
The Egyptian Minister of State for Military Production Mohammad Salah El-Din met with representatives from Thales Group on 6/4/2024.
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Egypt consults with the EU to finance the electricity connection with Greece and Italy
The goal is to connect the Egyptian electricity grid to the European one and provide clean energy to Europe.
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Egypt’s MoMP and Rheinmetall Forge Cooperation: Skyranger acquisition and TOT
MoMP is said to be in talks with the German defense company Rheinmetall for the acquisition of the Skyranger mobile air defense system.
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US dollar depreciation sparked 20% drop in car prices in Egypt
The local automotive sector increasingly needs to strengthen its market presence through localization efforts and expanded production.
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Turkey’s DNM inks contract to set up denim factory in Egypt
DNM will set up a USD 40 mn denim factory in Qantara West Industrial Zone, some 70% of the denim factory’s production will be exported.
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Egypt’s Misrayon & Polyester Fiber resumes exports after 12 years
The recently revived state-owned textile manufacturer Misrayon & Polyester Fiber Company has shipped five containers of artificial silk to Turkey.
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CAPMAS : 5.44% Decrease in Manufacturing and extractive index during January 2024
Manufacturing and extractive industries index (excluding crude oil and petroleum products) reached 92.85 during January 2024.
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Egypt ready to open world's largest textile factory in August
Nestled in the heart of Northern El-Mahallah city, this state-of-the-art facility will have a production capacity of approximately 30 tonnes per day.
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Egypt’s Elsewedy to break ground on a new industrial park within weeks
The zone will be located near the 6 October dry port and linked by railway to Alexandria port.
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Egypt awards British Steel contract to supply tracks for high-speed railway project
There are high hopes that "The Green Line" will revolutionise a decaying transport system in the Arab World's most populous country.
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EGP current price is golden chance for 'Made in Egypt' to compete globally
Experts say that Egyptian exports now have an opportunity to grow and compete globally due to the depreciation of the pound against the dollar.
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Egypt's sold cars hits 7,400 unit in February 2024
This recovery follows a period of decline in January, which marked the lowest point in the past 10 months.
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PM visits Fresh Electric Factory & announces $8M investments in automatic washing machines production
The prime Minister emphasized that any new investments or expansions from the private sector are a strong addition to the Egyptian economy.
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Egypt announces LE 120B soft financing for agricultural, industrial production
The allocated funds will be divided into two categories: LE 105 billion for working capital and LE 15 billion for the acquisition of machinery...etc.
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PM visits El Sewedy Electrical Transformers Factory emphasizing role in energy sector, support for local industries
Al-Suwaidi emphasized the company's dedication to delivering high-quality local products that meet international standards.
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Madbouly visits Beko’s $100M factory in 10th of Ramadan City tour
The factory, covering a total area of 114,000 square meters, represents a significant investment of over $100 million.