Industry News
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Egypt ramps up production of 28 m Swiftships boats
Egyptian Navy Shipyard (ENSY) is constructing sixteen new 28 meters coastal patrol boats in conjunction with United States’ Swiftships.
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Abu Qir Fertilizers’ profits hike to $381mln in H1-22/23 unaudited financials
Furthermore, the earnings per share (EPS) soared by 124.88% to EGP 4.79 in H1-22/23 from EGP 2.13 in H1-21/22.
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Egyptian Cabinet approves new controls to support industrial sector
The trade and industry ministry also suggested that projects delayed due to the Covid-19 pandemic would be exempted from fines for 4.5 months.
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India is 7th largest trading partner of Egypt
New plans between Egypt and India include $12 billion trade and a dedicated area in Suez Economic Zone.
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Egypt ranked second in denim import from Turkiye
Egypt ranked second with 14.4% share and 43 million dollars worth of exports.
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Misr Chemical Industries posts 191% YoY profit hike in 6 months
Sales totaled EGP 455.84 million in the six months to December 31st, 2022, up from EGP 270.56 million in the same period of FY 2021/2022.
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Egypt to keep electricity tariffs unchanged for 6 months
The decisions included the complete shutdown of the electrical current after the end of official working hours.
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Brazil seeks to sell cotton to Egypt as market opens
Brazilian farmers aim to account for 20% of Egypt 's demand for cotton imports over the next two years.
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Egypt plans to allot land to Indian industries in Suez Canal Special Economic Zone
President Abdel Fattah El-Sisi welcomed the expansion of Indian investments in Egypt, which is currently more than 3.15 billion dollars.
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Egyptian investments in machinery grew by 25% in 2022
The types of machinery most in demand right now, especially in Egypt, are optical sorters and X-ray machines.
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Egypt's Sisi defends mega-projects with economy under strain
These included the expansion of the Suez Canal, the construction of a new capital in the desert, and extensive road building.
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Egyptian Cabinet releases figures on furniture industry
On the other hand, Egypt's imports of furniture rose by 7.2 percent in 2021 hitting $303.3 million up from $282.9 million in 2020.
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Egypt’s chemicals exports grow 23% in 2022
The chemicals sector accounted for 24% of Egypt’s total non-petroleum exports.
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The textile industry of Egypt
12 % of Egypt's export earnings come from the textile industry. Egypt hosts the largest and most productive textile clusters in Africa.
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Clean transportation era begins in Egypt
The aims, states the Ministry of Transport, is to transform transportation into collective means, thereby reducing the number of cars
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Egypt’s new agriculture, industry support initiative to come into effect next week
The initiative will come into force next week, the Prime Minister said.
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Egypt to open the largest spinning, weaving factory in few days
The construction work of the factory took about 14 months, at an estimated cost of about LE 780 million.
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BMW assembly operations starts officially in Egypt
$150 million investments have been pumped into the local market, indicating that the factory acquires the lion's share of these investments.
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Egypt's Electricity Transmission Company, Elia Grid International sign 2 consulting contracts
It also includes the preparation for future electrical interconnection projects with neighboring countries and the European continent.
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Egypt Auto Finance Market is expected to grow at a CAGR of ~11% between 2023F - 2027F
Financial Penetration is anticipated to increase, while share of down payment will continue to decline backed by improvement in financial access.