- The decision was issued in accordance with the cooperation protocol between the Ministry of Foreign Affairs and the Financial Regulatory Authority.

- The new policy will be implemented starting August 1st for an annual premium of 400 Egyptian pounds.
- Benefits include residents and workers abroad and their families, with the addition of coverage for the risk of arbitrary dismissal.
- Coverage for permanent total disability resulting from an accident and the costs of repatriating the body will continue in all cases of death.

Dr. Islam Azzam, Chairman of the Financial Regulatory Authority, issued a decision to amend and develop the personal accident insurance policy for Egyptians abroad and their families. The policy now includes coverage for arbitrary dismissal with compensation of up to 100,000 Egyptian pounds, in addition to coverage for permanent total disability resulting from an accident of up to 250,000 Egyptian pounds. It also maintains the existing coverage in cases of natural or accidental death, which includes covering the costs of repatriating the body to Egypt.

This comes within the framework of the directives of the political leadership and the state's efforts to protect the interests of Egyptians abroad, and in light of the cooperation protocol signed this July between the Ministry of Foreign Affairs and the Financial Regulatory Authority, with the active participation of the Ministry of Interior and the Egyptian Travel Insurance Pool, in order to maximize the benefits for Egyptians abroad from the provided insurance coverage. The new optional insurance policy for Egyptians abroad will be implemented starting August 1st, with an annual premium of 400 Egyptian pounds.

Dr. Islam Azzam, Chairman of the Financial Regulatory Authority, stated that the addition of coverage for the risk of arbitrary dismissal came in response to demands raised during the Sixth Conference of Egyptians Abroad last year. He noted that the policy covers this risk with compensation of up to 100,000 Egyptian pounds in cases where termination of employment and deportation of the worker are proven to have occurred due to reasons beyond their control, including mass returns for political or economic reasons.

He added that the decision is a result of the integrated efforts of state institutions to provide more comprehensive insurance protection for Egyptians abroad. This reflects a commitment to developing protection mechanisms, responding to humanitarian and social needs, and responding quickly to changes that may affect the conditions of Egyptians in various labor markets, through updating regulatory frameworks and introducing new mechanisms. The head of the authority emphasized the crucial role of the Ministry of Foreign Affairs in raising awareness about the new insurance coverage among Egyptian communities abroad. This will ensure that the new coverage reaches all segments of society and maximizes its benefits. The upcoming Seventh Conference for Egyptians Abroad, scheduled for next month, presents an opportunity to support these awareness efforts.

Under the protocol, the Financial Regulatory Authority, through the Egyptian Travel Insurance Pool, will develop the implementation mechanisms for issuing policies and collecting premiums electronically. It will also ensure the prompt disbursement of compensation to eligible beneficiaries and conduct the necessary actuarial studies to review policy pricing based on actual results.

Meanwhile, the Ministry of Foreign Affairs, International Cooperation, and Egyptians Abroad will be responsible for promoting awareness of the policy and its advantages through its various channels and its outreach to Egyptian communities abroad, in addition to supporting awareness campaigns and related events.

Eng. Raafat Hindi: More than 270 digital government services will be available through the Digital Egypt platform by the end of this year, with a target of approximately 450 services by 2030.
Minister of Communications: Egypt aims to increase outsourcing exports to US$8 billion by 2028.
Minister of Communications: The ICT sector achieved its highest growth rate ever, recording 20.3%.
Members of the American Chamber of Commerce in Cairo: We reaffirm our commitment to partnering with the Ministry of Communications and Information Technology in implementing the next phase's priorities and commend its efforts to accelerate digital transformation and enhance Egypt's digital competitiveness.

Eng. Raafat Hindi, Minister of Communications and Information Technology, met with members of the Digital Transformation Committee at the American Chamber of Commerce in Cairo (AmCham Egypt). The meeting focused on the priorities for the next phase of the information and communications technology (ICT) sector, as well as mechanisms for creating an investment-friendly environment to attract additional investments.

The discussions also covered the Ministry's efforts to accelerate the adoption of artificial intelligence technologies, develop digital infrastructure projects, expand data centers and cloud computing, establish a supportive regulatory and investment environment, and prepare specialized digital talent.

During the meeting, Eng. Raafat Hindi stated that the Ministry's strategy is built around five key pillars:

Digital transformation;
Technology localization and job creation;
Digital infrastructure;
Digital capacity building; and
Legislation and governance.
Digital Transformation

The Minister explained that, under the digital transformation pillar, the Ministry continues expanding digital government services through the Digital Egypt platform, which currently offers 242 services.

The Ministry aims to increase the number of services to more than 270 by the end of this year and approximately 450 services by 2030.

He added that Egypt has launched a digital identity, while expanding the use of electronic signatures, alongside the continued automation of government entities to improve efficiency, enhance the business environment, and attract investment.

Technology Localization and Job Creation

Eng. Hindi explained that this pillar is based on three main components.

Outsourcing and Digital Services Exports

The first focuses on the outsourcing industry and digital services exports, which reached approximately US$5.2 billion in 2025. The Ministry aims to increase outsourcing exports to US$8 billion by 2028.

Electronics Manufacturing

The second component focuses on localizing electronics manufacturing, particularly mobile phones.

Annual production increased from 3 million mobile phones in 2024 to 10 million by the end of 2025.

Production is expected to exceed 15 million units during the current year, with a target of reaching 30 million units by 2028, while increasing the local content ratio to approximately 45%.

Artificial Intelligence

The third pillar focuses on artificial intelligence, which the Ministry considers a strategic priority.

The Minister noted that Egypt launched the second edition of its National Artificial Intelligence Strategy at the beginning of 2025.

He also highlighted that the Applied Innovation Center has developed the large language model "Karnak", in addition to AI-powered applications in healthcare, agriculture, and education.

Digital Infrastructure

Regarding digital infrastructure, Eng. Hindi said that a new package of mobile spectrum frequencies was allocated to telecom operators in February, while work continues to:

Expand mobile network coverage;
Roll out 5G services;
Expand fiber-optic networks.

He added that fiber-optic cables have been extended to more than 1,250 villages under the presidential Decent Life (Hayah Karima) initiative.

The Ministry is also working with relevant stakeholders to develop a National Data Center Strategy, recognizing data centers as a fundamental component of Egypt's digital sovereignty amid growing investor interest.

He stressed that cybersecurity remains one of the Ministry's top priorities as AI adoption and data-driven technologies continue to expand.

Building Digital Skills

The Minister noted that the Ministry is implementing an integrated talent development system through several flagship initiatives, including:

Digital Egypt Generations;
Programs offered by the Information Technology Institute (ITI);
The National Telecommunication Institute (NTI);
WE Applied Technology School; and
The Egypt University of Informatics (EUI).

He added that the next phase will focus on improving training quality, providing advanced training, and developing specialized skills that meet labor market requirements.

The Ministry is also working to modernize the legislative framework governing the ICT sector and actively participate in international forums to strengthen Egypt's global leadership in communications and information technology.

Sector Growth

Eng. Hindi stated that the ICT sector recorded a 20.3% growth rate during the third quarter of the previous fiscal year, marking the highest growth rate among all economic sectors.

The sector currently contributes approximately 6% of Egypt's GDP, with a target of increasing its contribution to 8% by 2030.

Private Sector Partnership

Members of the American Chamber of Commerce in Cairo stressed the importance of strengthening cooperation and maintaining close coordination among the Ministry, the Chamber's Digital Transformation Committee, and the private sector to support digital transformation while safeguarding digital sovereignty.

They also reaffirmed their commitment to partnering with the Ministry in implementing its priorities for the coming period.

The Chamber members praised the Ministry's efforts to accelerate digital transformation, strengthen Egypt's digital competitiveness, launch initiatives to develop digital skills and prepare qualified talent, expand data center development across Egypt, explore ways to strengthen the competitiveness of this industry, and promote freelance work.

Attendees

The meeting was attended by:

Eng. Ahmed El-Zaher, CEO of the Information Technology Industry Development Agency (ITIDA);
Eng. Mahmoud Badawy, Assistant Minister for Digital Transformation;
Dr. Hoda Baraka, Advisor to the Minister for Technology Skills Development;
Dr. Suzanne El-Akbawy, Advisor to the Minister for Data Governance;
Eng. Amr Abbas, Deputy Executive President of the National Telecommunications Regulatory Authority (NTRA) for Regulation and Market Governance;
Several senior officials from the Ministry of Communications and Information Technology.

Representing the American Chamber of Commerce in Cairo were:

Marwa Abbas, Member of AmCham Egypt's Board of Directors and CEO of Raya Information Technology;
Mirna Arif, Chair of the Chamber's Digital Transformation Committee and General Manager for Emerging Markets at Microsoft Middle East & Africa;
Mahmoud El-Khatib, Co-Chair of the Chamber's Digital Transformation Committee and Executive Director of Business at Vodafone;
Eng. Tarek Shabaka, Chairman of Middle East Technology Services (MCS) and Co-Chair of the Chamber's Digital Transformation Committee;
Silvia Menassa, CEO of the American Chamber of Commerce in Cairo;
Dina Nawar, Chief Operating Officer of the Chamber; and
Haneen Nagm El-Din, Public Policy Officer at the Chamber.

The Cabinet's Media Center published an infographic on its social media platforms highlighting Egypt's leading position among African countries in attracting foreign direct investment (FDI) for the fourth consecutive year, according to the World Investment Report 2026 issued by the United Nations Conference on Trade and Development (UNCTAD).

Egypt's leading position in Africa in attracting FDI reflects the continued growth of investor confidence in the Egyptian economy, supported by structural reforms and infrastructure development in the investment environment, along with the implementation of major national projects that have enhanced the economy's competitiveness and attractiveness to investment.

The infographic reviewed the volume of FDI flows in Africa in 2025, according to the report, with Egypt attracting $15.5 billion, followed by Guinea with $7.8 billion, Mozambique with $5.7 billion, Nigeria with $4 billion, and Ethiopia with $3.8 billion. The infographic added that, according to the report, Uganda attracted flows of $3.4 billion, Morocco $3.3 billion, Kenya $3.2 billion, Ivory Coast $2 billion, Ghana $1.9 billion, Democratic Republic of Congo $1.9 billion, Tanzania $1.7 billion, and Algeria $1.5 billion. The infographic also noted UNCTAD's confirmation that Egypt is among the countries that have succeeded in attracting investments related to restructuring traditional industries, while consolidating its position as an alternative production base, a center for industrial processing, and a gateway to major markets.

Customer deposits at Commercial International Bank (CIB) – Egypt rose to EGP 1.303 trillion by the end of June 2026, compared to EGP 1.105 trillion at the end of December 2025.

The bank's standalone financial statements revealed that CIB – Egypt's net profit increased by 17.4% to EGP 39.235 billion by the end of the first half of this year, compared to EGP 33.409 billion at the end of the same period in 2025.

The bank's total assets increased to EGP 1.682 trillion by the end of June 2026, compared to EGP 1.436 trillion at the end of December 2025, representing a growth rate of 17%. Net interest income rose by 18.2% to reach EGP 60.476 billion by the end of June 2026, compared to EGP 51.151 billion at the end of the same period in 2025.

Net fee and commission income grew by 39.7% to reach EGP 5.761 billion by the end of June 2026, compared to EGP 4.124 billion at the end of the same period in 2025.

Radwan: Brokerage Firms Are Key Partners in Implementing the Stock Exchange Development Strategy

The Egyptian Exchange continues to implement its vision for developing the capital market by strengthening cooperation with all market participants and expanding the range of investment tools and mechanisms. This aims to enhance trading efficiency, increase market depth, and attract more investments.

In this context, Mr. Omar Radwan, Chairman of the Egyptian Exchange, held an extensive meeting with the leaders of securities brokerage firms to discuss work priorities for the coming period and review several proposals and regulatory measures aimed at developing the market's infrastructure, in coordination with the Financial Regulatory Authority.

The meeting addressed several key aspects of modernizing the capital market, most notably expanding investment tools and mechanisms to enhance market efficiency, increase liquidity, and provide a more attractive environment for investors. Attendees also received a detailed presentation on the advantages of the new program currently under development to further modernize the trading market. Omar Radwan affirmed that brokerage firms are key partners in implementing the stock exchange's development strategy, emphasizing the importance of continued dialogue and coordination with all market participants. This, he explained, supports the competitiveness of the Egyptian capital market and strengthens investor confidence. Radwan added that the stock exchange aims to diversify financial instruments in the coming period, intensify investment and listing promotion efforts, and implement financial literacy programs. These initiatives will contribute to expanding the investor base and boosting market activity.

The meeting concluded with a discussion of proposals and observations from brokerage firm representatives. Mr. Radwan reiterated the commitment to ongoing consultation and cooperation with the capital market community, which supports development plans and serves the interests of all stakeholders.

Minister of Labor Hassan Radad received a delegation from the International Labour Organization (ILO) office in Cairo, headed by Eric Oechslin, at the ministry headquarters in the New Administrative Capital on Tuesday. The meeting focused on several areas of joint cooperation, primarily finalizing the implementation plan for Egypt's National Decent Work Program. The meeting resulted in an agreement to develop an implementation plan and a specific timeline for completing the program. A draft roadmap was also reviewed, outlining mechanisms for social consultation with all stakeholders and strengthening the principles of dialogue and tripartite partnership between the government, employers, and workers. This roadmap aligns with Egypt's national priorities and development plans, and is consistent with international labor standards and conventions.

The meeting concluded with an agreement to develop an implementation plan and a specific timeline for completing the program. The two sides also discussed the program's key components, which include developing job opportunities, strengthening social protection, consolidating social dialogue and consultation, and enshrining fundamental principles and rights at work, in preparation for the program's official launch during the first quarter of 2027. The National Decent Work Program is the main framework through which the International Labour Organization (ILO) implements its cooperation with member states. It is based on the priorities of governments and labor partners and rests on the principles of social dialogue, decent work, and the promotion of sustainable development. Minister Hassan Radad emphasized the Ministry of Labour's commitment to further strengthening its strategic partnership with the ILO, which contributes to developing labour market policies, improving the efficiency of the work environment, and supporting employment and production. This aligns with the directives of His Excellency President Abdel Fattah El-Sisi, who places providing decent job opportunities, improving the work environment, and increasing productivity at the forefront of the Egyptian state's priorities. For his part, Eric Oechslin affirmed the ILO's pride in its ongoing cooperation with the Ministry of Labour, praising the constructive coordination and collaboration between the two sides. He expressed the organization's aspiration to continue working together to complete the National Decent Work Program, considering it an important step towards supporting economic and social development and promoting decent work that serves the interests of all. It encompasses all parties involved in production and keeps pace with the Sustainable Development Goals.

Commercial International Bank – Egypt's net assets rose to EGP 1.682 trillion by the end of June 2026, compared to EGP 1.436 trillion by the end of December 2025, representing a growth of 17%, according to the bank's standalone financial statements. The bank's net profit also increased to EGP 39.235 billion by the end of the first half of this year, compared to EGP 33.409 billion by the end of the same period in 2025, reflecting a growth of 17.4%.

Net interest income also rose to EGP 60.476 billion by the end of June 2026, compared to EGP 51.151 billion by the end of the same period in 2025, representing a growth of 18.2%.

Net fee and commission income reached EGP 5.761 billion by the end of June 2026, compared to EGP 4.124 billion by the end of the same period in 2025, achieving a growth rate of 39.7%.

Commercial International Bank – Egypt (CIB) reported a 17.4% increase in net profit to EGP 39.235 billion for the first half of 2026, compared to EGP 33.409 billion for the same period in 2025. The bank's standalone financial statements also revealed a 17% growth in net assets, reaching EGP 1.682 trillion by the end of June 2026, up from EGP 1.436 trillion at the end of December 2025.

Net interest income rose by 18.2% to EGP 60.476 billion by the end of June 2026, compared to EGP 51.151 billion for the corresponding period in 2025. Net fee and commission income also saw significant growth, increasing by 39.7% to EGP 5.761 billion by the end of June 2026, compared to EGP 4.124 billion for the same period in 2025.

The Gulf of Suez Petroleum Company (GUPCO) has increased its crude oil production to 71,250 barrels per day, marking the company's highest production level since July 2019. This reflects the positive impact of the Ministry of Petroleum and Mineral Resources' success in settling outstanding payments to investment partners, which has enabled the restoration of production rates. This is part of the Ministry's strategy to support domestic production by intensifying drilling, exploration, and field development activities.

The accelerated development of the North Safa offshore field in the Gulf of Suez contributed to this increase, following the commissioning of well SB293-9. The field's total production now exceeds 18,000 barrels per day. Development work included the construction of a new offshore platform, the laying of connecting pipelines, and the upgrading of the production system. GUPCO also successfully commissioned a new turbocharger at the M36 station in Phase 4, which will contribute to increasing the efficiency and productivity of existing wells. In parallel, the company continued its successful exploration activities by drilling the Crystal exploration well northeast of Ramadan from the Al Fanar offshore platform, further enhancing the prospects for increased production. These results reflect the success of the partnership between the Egyptian General Petroleum Corporation and the UAE's Dragon Oil in converting new projects and discoveries into actual production, and support the launch towards more ambitious drilling, development and exploration programs in the Gulf of Suez region.

The General Authority for Investment and Free Zones (GAFI) announced the issuance of Ministerial Decree No. (314) of 2026 by the Minister of Investment and Foreign Trade, regarding the reconstitution of the Authority's Grievance Committee, as stipulated in Article (83) of the Investment Law issued by Law No. (72) of 2017.

The committee will be chaired by a judge from a judicial body, with membership including a representative from GAFI and an expert in the field. This ensures that grievances are reviewed with integrity, independence, and objectivity, thereby enhancing investor confidence in the grievance resolution mechanism.

The committee is responsible for reviewing grievances against decisions issued in accordance with the provisions of the Investment Law by:

• GAFI.

• Authorities responsible for granting approvals, permits, and licenses.

This will be done in accordance with the procedures and timeframes stipulated in the law.

This decision aims to strengthen the legal guarantees afforded to investors, support the principles of transparency and governance, and activate the grievance mechanism to expedite the resolution of grievances and achieve a balance between the rights of investors and administrative bodies, thereby enhancing confidence in the investment climate.

Regarding the circulation of inaccurate claims concerning safety procedures during the installation of the reactor pressure vessel (RPV) for Unit 2 of the El Dabaa Nuclear Power Plant, which were published on websites and social media platforms, including Facebook, and were based on conclusions drawn from footage of the installation ceremony without reference to the actual implementation procedures or the technical documentation governing the operation:

From both a technical and engineering perspective, these claims contain numerous inaccuracies for the following reasons:

Safety Compliance Cannot Be Assessed from Television Footage

The websites in question based their conclusions on television footage and media images, then proceeded to assert that safety standards had been violated.

This approach is inconsistent with established engineering investigation methodologies or safety compliance assessments. International standards—including those of OSHA, ASME, and the International Atomic Energy Agency (IAEA)—require that such operations be evaluated based on the approved execution documentation, including:

The lifting plan;
The risk assessment study;
The issued work permit;
The critical lift plan;
The manufacturer's and designer's instructions for the reactor pressure vessel;
Certification of lifting equipment; and
Supervision and monitoring records during execution, including oversight by the Egyptian Nuclear and Radiological Regulatory Authority (ENRRA).

Accordingly, it is not possible to evaluate the operation solely through photographs or television footage broadcast during the ceremonial event, which only captured limited portions of the operation from different camera angles, either after or during the critical phases.

As is well recognized in engineering practice, drawing definitive conclusions based solely on media footage does not constitute a scientific or professional engineering methodology. Television images cannot accurately determine important factors such as:

The exact timing of the footage relative to each stage of the operation;
The nature of the attachment and lifting points;
Isolation zones; or
Other critical technical aspects.
Misinterpretation of OSHA Fall Protection Requirements

The circulated claims also misrepresented the safety requirements governing work performed at elevations exceeding 1.8 meters (6 feet) by citing incorrect OSHA provisions.

The social media posts incorrectly referenced OSHA Standard 1926.50, whereas the applicable regulation concerning fall protection is OSHA Standard 1926.501.

Furthermore, OSHA does not require safety harnesses in every situation. Rather, it permits several forms of fall protection, including engineering controls and collective protection systems, both of which were already implemented during the installation process.

Even the same television footage cited in these claims clearly shows complete perimeter guardrails and protective barriers surrounding the work area during installation, which represent one of the primary forms of collective fall protection recognized under applicable safety regulations.

Manual Guidance of the Reactor Vessel Is Not a Safety Violation

The circulated claims also alleged that technicians used their hands to guide the reactor vessel, implying that this constituted a safety violation.

In reality, heavy nuclear equipment installation consists of two distinct phases:

The first phase is dynamic guidance, during which guide ropes are used to control the movement of the suspended load and prevent swinging.

The second phase is precision positioning, a critical stage in which guide ropes alone cannot achieve the required level of accuracy. During this phase, specialized personnel use engineered guidance methods under approved operating procedures while maneuvering the load within extremely narrow movement tolerances—often measured in centimeters or even millimeters—to achieve the final seating or installation position with maximum precision.

The International Atomic Energy Agency (IAEA) does not prohibit manual guidance outright.

Likewise, the Russian national standard GOST 12.3.009-76 stipulates that lifting operations must be performed by trained personnel, with clearly defined responsibilities for all participants involved in lifting and handling operations.

International Practice Follows the Same Approach

The installation method used for the El Dabaa reactor pressure vessel is consistent with internationally accepted practices employed at other nuclear power plants, including:

Hinkley Point C (United Kingdom);
Akkuyu Nuclear Power Plant (Türkiye); and
Kudankulam Nuclear Power Plant (India).
IAEA Director General Witnessed the Installation

It is also worth noting that IAEA Director General Rafael Grossi attended the reactor pressure vessel installation ceremony in person and directly observed the installation process.

He praised the operation for its precision and efficiency and congratulated the Arab Republic of Egypt on the successful achievement.

Had there been any concerns regarding operational safety or non-compliance with international standards, such concerns would have been raised by the competent regulatory and technical authorities—most notably the International Atomic Energy Agency (IAEA)—which did not occur.

Accordingly, conclusions drawn solely from visual observations of recorded footage cannot substitute for specialized technical assessments or override the findings of the competent authorities supervising the project.

Misrepresentation of OSHA Standard 1926.1425

Some of the circulated claims also incorrectly cited OSHA Standard 1926.1425, alleging that the mere presence of workers near the suspended reactor vessel constituted a direct OSHA violation.

However, the standard actually states:

"No employee shall be within the fall zone except for employees engaged in hooking, unhooking, or guiding the load..."

Therefore, OSHA explicitly permits authorized personnel involved in load attachment, detachment, or guidance to be present within the designated area during lifting operations.

Overlooking the Multi-Level Oversight System

The installation of a reactor pressure vessel is not an ordinary construction activity.

Rather, it is subject to multiple layers of regulatory and technical oversight.

Consequently, alleging the existence of serious safety violations without any of the competent supervisory or regulatory bodies identifying such violations lacks any technical basis.

Successful Completion Reflects Effective Planning and Risk Management

The reactor pressure vessel installation for Unit 2 was completed successfully, according to the project's schedule, without any accidents or injuries related to the lifting operation.

This reflects the effectiveness of the project's planning, execution, supervision, and risk management systems.

It should also be emphasized that safety procedures in nuclear projects are not determined by personal opinions or visual impressions.

Instead, they are governed by an integrated framework that includes:

Comprehensive risk assessments;
Work permits;
Detailed lifting plans;
Equipment certification;
Continuous regulatory oversight; and
Prior review and approval of all documentation before any critical lifting operation is carried out.
Official Statement

The Nuclear Power Plants Authority (NPPA) reaffirmed its full commitment to applying the highest standards of quality, safety, and nuclear security throughout every stage of the El Dabaa Nuclear Power Plant project.

The Authority also called upon media outlets and social media users to exercise accuracy, rely exclusively on information issued by the competent official authorities, and avoid drawing unsupported conclusions or making technical assessments based solely on video footage that does not reflect the engineering procedures and safety protocols governing strategic projects of this nature.

▪︎Dr. Ahmed Rostom: The state places human development at the forefront of its priorities... and the presidential initiative "Decent Life" is the driving force behind rural development.

▪︎The economic and social development plan focuses on enhancing the efficiency of public spending and directing resources to priority sectors.

▪︎The Japanese Ambassador: We emphasize the importance of benefiting from international experiences in accordance with each country's development priorities.

Dr. Ahmed Rostom, Minister of Planning and Economic Development, met with Mr. Iwai Fumio, the Japanese Ambassador to Cairo, to discuss several cooperation files, review the Egyptian state's efforts in implementing economic reform programs, and explore partnership prospects in the coming phase.

During the meeting, Dr. Ahmed Rostom affirmed Egypt's pride in its cooperation with Japan, which represents an inspiring model of cooperation based on mutual respect and the exchange of expertise. He noted the state's keenness to expand the horizons of economic cooperation and support development efforts in a way that achieves the common interests of both countries.

Dr. Rostom explained... Ahmed Rostom stated that the economic and social development plan for the current fiscal year (2026/2027) is primarily based on enhancing the efficiency of public spending by directing resources towards priority sectors. This aims to maximize the developmental return on public investments and achieve a delicate balance between the requirements of economic stability and the advancement of comprehensive development efforts.

The Minister of Planning and Economic Development added that the Egyptian state places "human development" at the forefront of its priorities. The government continues to implement policies and programs aimed at improving the quality of life for citizens, most notably the presidential initiative "Decent Life," which represents one of the most important and largest integrated development projects and plays a pivotal role in raising the level of services and infrastructure in rural Egypt.

Dr. Ahmed Rostom also addressed the economic and structural reform programs implemented by the state to enhance macroeconomic stability, improve the business environment, and increase the competitiveness of the Egyptian economy. He emphasized the state's commitment to supporting and empowering the private sector as a key partner and a fundamental driver of achieving sustainable economic growth. He commended the existing and fruitful cooperation between Egypt and Japan, which has culminated in the implementation of numerous major development projects in vital sectors, reflecting the depth and strength of bilateral relations and the shared commitment to advancing them.

For his part, the Japanese Ambassador expressed his deep appreciation for the level of cooperation and partnership between Egypt and Japan, emphasizing the importance of learning from international experiences and adapting them to align with each country's developmental and national priorities. He explained his country's aspiration to continue joint work and exchange expertise in areas of mutual interest to support Egypt's development journey.

Net loans and customer facilities at Commercial International Bank – Egypt (CIB) rose to EGP 591.344 billion by the end of June 2026, compared to EGP 503.361 billion by the end of December 2025.

The total retail banking portfolio reached EGP 103.358 billion by the end of June 2026, compared to EGP 92.277 billion by the end of 2025.

Total corporate loans amounted to EGP 527.985 billion by the end of June 2026, compared to EGP 449.128 billion by the end of 2025. The bank achieved net profits of EGP 39.235 billion by the end of June 2026, compared to EGP 33.409 billion by the end of June 2025.

The National Bank of Egypt, in cooperation with the Ministry of Youth and Sports and under the auspices of the Central Bank of Egypt, announced the best projects submitted as part of the "Comprehensive Youth" initiative. This integrated program aims to raise financial awareness and develop entrepreneurial skills among young people, as well as introduce them to banking products and services that meet their needs. This contributes to their economic and social empowerment and strengthens their role in achieving sustainable development. The announcement was made through a series of events held in several clubs in Cairo Governorate.

This event was attended by a judging panel that included Mostafa Mounir, Director General of Small and Medium Enterprises at the Central Bank of Egypt; Saad Nadim, Head of the Financial Inclusion Unit at the Ministry of Youth and Sports; Chantal Sabbagh, Head of Business Development and Non-Financial Services for Small and Medium Enterprises; Mohamed Fathy Helal, Director General of Investments; and Tamer Mostafa, Deputy Director General of Business Technology and Performance Testing at the National Bank of Egypt.

This event was part of the “Comprehensive Youth” program, which included setting up a dedicated booth in several clubs in Cairo Governorate for six days last April. The initiative featured financial literacy sessions targeting various segments of society, with a focus on youth, as well as practical workshops on project establishment and management skills, specialized seminars on innovation and entrepreneurship, and an introduction to the bank's retail banking products and services. It also highlighted the bank's programs and initiatives supporting small businesses, both through financial and non-financial solutions, most notably the “Nile Pioneers” initiative.

The event concluded with the participation of a judging panel comprised of Mostafa Mounir, Director General of Small and Medium Enterprises at the Central Bank of Egypt; Saad Nadim, Head of the Financial Inclusion Unit at the Ministry of Youth and Sports; Chantal Sabbagh, Head of Business Development and Non-Financial Services for Small and Medium Enterprises; Mohamed Fathy Helal, Director General of Investments; and Tamer Mostafa, Deputy Director General of Business Technology and Performance Testing at the National Bank of Egypt. The initiative witnessed significant engagement and participation from young people, with over 50 project ideas submitted. After evaluation according to established criteria, the top 12 projects were selected, and the top three winning projects were announced. These winning projects will receive financial support to help implement their ideas. The first-place winner will receive 250,000 Egyptian pounds, the second-place winner 150,000 pounds, and the third-place winner 50,000 pounds, reflecting the initiative's goals of encouraging innovation and supporting young entrepreneurs.

It is worth noting that the "Comprehensive Youth" initiative represents a successful model of cooperation between state institutions and the banking sector in supporting young people. It contributes to preparing a generation capable of innovation and entrepreneurship by supporting developmental and community programs that aim to build the capacities of young people and provide a stimulating environment that enables them to transform their ideas into viable projects.

During the Opening Ceremony of World Accreditation Day

Minister of Industry Eng. Khaled Hashem affirmed that the accreditation system plays a vital role in improving the quality of products and services, strengthening consumer and international market confidence, and facilitating Egyptian exports' access to global markets.

Key Statements by Eng. Khaled Hashem
The Ministry of Industry has launched an updated comprehensive industrial strategy identifying seven priority industries for integration into global supply chains.
The objectives of World Accreditation Day are fully aligned with the Ministry's industrial strategy, which includes a comprehensive pillar dedicated to improving industrial products, enhancing manufacturing efficiency, and localizing testing, laboratory, and accreditation bodies required for exports to international markets.
Quality should become an integral part of the culture of factories and manufacturers. The Ministry calls on all manufacturers to consider the cost of quality and its impact on business sustainability, export market retention, market expansion, and preserving the reputation of Egyptian products in regional and international markets.
The Egyptian Accreditation Council (EGAC) plays a critical role in supporting Egypt's accreditation system by ensuring the competence of conformity assessment bodies and maintaining international recognition.

Eng. Khaled Hashem emphasized that the accreditation system directly contributes to improving the quality of products and services, enhancing consumer confidence and international market trust, facilitating the entry of Egyptian exports into global markets, and attracting industrial investments through a strong quality infrastructure and conformity assessment system.

He explained that accreditation provides official recognition to conformity assessment bodies in accordance with international standards while ensuring impartiality and technical competence. Given the rapid developments in the global economy and the increasing demands for quality, sustainability, and technical compliance, product competitiveness now depends not only on manufacturing excellence but also on the existence of a comprehensive quality and accreditation system.

The minister made these remarks during the opening ceremony of World Accreditation Day, held this year under the theme:

"Innovation, Confidence, and Sustainability… The Power of Accreditation."

The event was attended by Angelina Eichhorst, Head of the European Union Delegation to Egypt; Eng. Ibrahim Houla, President of the International Accreditation Organization; Dr. Jehan Bayoumi, UNIDO Representative in Egypt; Eng. Mohamed Zada, Assistant Minister of Industry for Strategic Industries; Dr. Ahmed Maghawry, Assistant Minister for International Cooperation; Eng. Mohamed Hassan, Executive Director of the Egyptian Accreditation Council (EGAC); along with heads of international and regional organizations and experts in quality and accreditation.

Accreditation as a Cornerstone of Global Trade

The minister stated that the celebration provides an important platform to highlight accreditation as a cornerstone of quality assurance, product competitiveness, international trade facilitation, and confidence-building in domestic and global markets.

He noted that Egypt's celebration of World Accreditation Day coincides with similar events around the world, reflecting the growing importance of accreditation systems as one of the key pillars supporting industry, trade, and investment.

He also expressed appreciation to the Egyptian Accreditation Council (EGAC) and all local and international partners, particularly the United Nations Industrial Development Organization (UNIDO) and the European Union, for their continuous efforts to develop Egypt's accreditation system in line with international best practices.

Quality Must Be Part of Industrial Culture

Eng. Hashem stressed that quality should become an inherent part of the culture of factories and manufacturers, with accreditation serving as one of its key enablers.

He urged manufacturers to recognize the true cost of quality and its impact on business sustainability, maintaining export markets, accessing new markets, and protecting the reputation of Egyptian products worldwide.

Updated Industrial Strategy

The minister explained that the Ministry has launched an updated comprehensive strategy for developing Egyptian industry.

The strategy identifies seven priority industrial sectors, alongside enabling industries, strategic sectors, and feeder industries aimed at deepening local manufacturing.

It also seeks to promote circular economy principles and expand recycling initiatives to improve resource efficiency and sustainability while integrating Egypt into global supply chains.

He added that the objectives of World Accreditation Day closely align with the Ministry's strategy, which places special emphasis on strengthening the quality and accreditation system through a dedicated pillar focused on improving industrial products, enhancing manufacturing efficiency, and localizing testing laboratories and accreditation bodies required for exports to international markets.

Strengthening Egypt's Accreditation Infrastructure

Eng. Hashem noted that the Egyptian Accreditation Council, which currently operates across 13 accreditation fields for internationally recognized conformity assessment bodies, plays a central role in strengthening the national accreditation system by ensuring the competence of conformity assessment bodies and maintaining international recognition.

This, he said, enhances global confidence in Egyptian testing and certification results and strengthens the competitiveness of Egyptian products.

He further emphasized that as global markets increasingly demand sustainability, green transformation, carbon footprint compliance, efficient resource utilization, circular economy practices, and environmental compliance, a robust and advanced accreditation system has become essential for enabling Egyptian industry to meet these requirements and compete internationally.

Accreditation Supports Investment

The minister highlighted accreditation as an important investment attraction tool.

The availability of internationally accredited laboratories, inspection bodies, and certification organizations reduces compliance costs, accelerates operational procedures, and strengthens investor confidence in Egypt's business environment.

He noted that the Egyptian Organization for Standardization and Quality (EOS), affiliated with the Ministry of Industry, currently operates 15 laboratories accredited by EGAC, demonstrating Egypt's commitment to developing quality infrastructure in accordance with international standards and enhancing confidence in testing results.

Investing in the Future of Egyptian Industry

Eng. Hashem stated that the Ministry views accreditation as an investment in the future of Egyptian industry because it enhances product quality, supports innovation, boosts exports, and reinforces Egypt's position as a competitive regional industrial hub that meets the highest international standards.

He added that Egypt has made significant progress in building an advanced national accreditation system, and that the Egyptian Accreditation Council has earned a distinguished regional and international standing, reflecting years of sustained efforts to maintain international recognition and strengthen cooperation with regional and global accreditation organizations.

The minister reaffirmed that the Ministry of Industry will continue providing full support for the development of Egypt's quality and accreditation system as a key enabler of the national industrial strategy, enhancing industrial competitiveness and creating an attractive investment climate.

He also expressed his hope for continued cooperation among all stakeholders to build a more advanced and efficient quality and accreditation system capable of supporting Egypt's sustainable industrial development goals.

EGAC Executive Director Highlights International Expansion

For his part, Eng. Mohamed Hassan, Executive Director of the Egyptian Accreditation Council (EGAC), stated that accreditation has become a fundamental component across Egypt's industrial sectors and a primary objective of major industrial systems.

He emphasized that EGAC's methodology is fully aligned with the Ministry of Industry's strategy, particularly regarding priority industries, enabling industries, complementary industries, and strategic sectors.

He revealed that EGAC has accredited 86 conformity assessment bodies in 24 countries worldwide, bringing the total number of conformity assessment bodies accredited by the Council to 950.

Cooperation with Europe on CBAM

Eng. Hassan added that EGAC is working to support Egypt's strategic objectives regarding cooperation with the European Union, Egypt's largest trading partner.

Following the introduction of the EU's Carbon Border Adjustment Mechanism (CBAM), which requires carbon emissions reports to be verified by conformity assessment bodies accredited by accreditation organizations within the European Union, EGAC coordinated with several European accreditation bodies and submitted a technical proposal that satisfies the regulation's requirements.

He announced that EGAC is in the final stages of signing cooperation agreements with several European counterparts, particularly the German Accreditation Body (DAkkS) and the Belgian Accreditation Body (BELAC).

These agreements will enable EGAC to conduct assessments of Egyptian conformity assessment bodies—as well as those in Africa and the Arab region—on behalf of these European accreditation bodies, while the official accreditation certificates will be issued by the respective European organizations.

This arrangement will ensure full compliance with the European Union's Carbon Border Adjustment Mechanism (CBAM) requirements, facilitating Egyptian exporters' continued access to European markets.