The Group delivered a solid start to the first quarter of the financial year ending 31 December 2026,
achieving consolidated Net Sales of USD 40.4 million, representing a 21.7% y-o-y increase despite a
challenging political and macroeconomic environment. Consolidated net profit reported USD 1.5 million,
profitability was pressured with higher cost of goods sold during the period, it is worth highlighting that
profitability of Q1 2025 included one-off capital gain of USD 1.8 million. Meanwhile, CFG remains focused
on maximizing shareholder value by strengthening the resilience and adaptability of its business model,
expanding retail footprint, while reinforcing its positioning within global supply chains to capture emerging
opportunities.
Cairo, Egypt | 15 June 2026
Concrete Fashion Group for Commercial and Industrial Investments S.A.E (“Concrete Fashion Group” or “CFG” or the
“Group”), Egypt’s leading luxury apparel manufacturer, retailer, and exporter, announced today its audited financial
statements and operational results for the financial period ending 31 March 2026 (Q1 2026). During Q1 2026, the
Group achieved consolidated net sales of USD 40.4 million, up 21.7% y-o-y compared to USD 33.2 million in Q1 2025,
primarily driven by strong export activity despite a challenging operating environment. Further down the income
statement, the Group reported consolidated EBITDA of USD 7.4 million and a margin of 18.3%, compared to USD 9.4
million and a margin of 28.3% during last year, the EBITDA was weighted down by the impact of the inclusion of USD
1.8 million one-off capital gain booked in the previous year. CFG has also witnessed cost pressures, on the back of
higher labor costs of 32.8% y-o-y, since the implementation of minimum wages occurred during Q2 2025, alongside
an increase in the industrial expenses and transportation costs on the back of an increase in all utility prices y-o-y.
Adding to that cost of goods sold was impacted by changes in pricing dynamics. Consolidated net profit for Q1 2026
came in at USD 1.5 million, with a margin of 3.7% compared to USD 3.3 million and a margin of 9.9% in Q1 2025
affected by higher net financing costs on the back of FX losses during the period, as a result of the devaluation of EGP
against USD during March 2026 impacting closing exchange rates used on translating EGP balances as of 31 March
2026.

With reference to the published news that the company is working to complete logistics projects during 2026, most notably a logistics warehouse in Ain Sokhna, built on an area of ​​17,000 square meters, with an investment cost of EGP 110 million.



Please note that the mentioned investment cost pertains specifically to the Ain Sokhna land, including the price of the land and its development.

(QNA)-


The Qatar Stock Exchange (QSE) index closed Tuesday's trading session lower by 2.33 points, or 0.02 percent, reaching 10,551.42 points.
A total of 171,210,538 shares were traded during the session, with a total value of QAR 445,067,610.451 through 23,423 transactions across all sectors.
The shares of 29 companies advanced, while those of 21 other companies declined, with the shares of three companies remaining unchanged.
Market capitalization at the close of trading stood at QAR 637,228,505,239.866 compared to QAR 636,324,628,008.500 in the previous session

The Saudi Stock Exchange's main index closed today up 49.69 points, reaching 11,145.55 points, with trading valued at SAR 4.6 billion.

According to the Saudi Press Agency's daily economic bulletin for the Saudi Stock Exchange, 235 million shares were traded, with 115 companies seeing their share prices rise, while 141 companies experienced a decline.

The shares of Tabuk Agricultural Development Company, Bupa Arabia, Al-Tadawul Food Company, Liva, and Al-Saqr Insurance were the top gainers, while the shares of Saudi Cable Company, Budget Saudi Arabia, Nice One, Advanced Petrochemical Company, and Saco were the biggest losers. The percentage changes ranged between a gain of 5.80% and a loss of 4.53%. Americana, Saudi Aramco, Al Rajhi Bank, Petro Rabigh, and Anabeeb were the most actively traded stocks by volume, while Al Rajhi Bank, Saudi Aramco, Al Ahli Bank, ACWA Power, and Alinma Bank were the most actively traded by value.

The Saudi Parallel Market (Nomu) index closed today up 237.32 points at 23,221.15 points, with a trading value of SAR 15 million and a volume of over 3.2 million shares.

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The Egyptian stock market indices showed mixed performance at the close of trading on Tuesday, the middle session of the week. The main index declined due to downward pressure on leading stocks, most notably Commercial International Bank (CIB), Palm Hills Developments, and Eastern Company. Meanwhile, the EGX 70 and EGX 100 indices rose. Egyptian investors were net buyers, while Arab and foreign investors were net sellers. Trading volume reached EGP 10.1 billion, and market capitalization fell by EGP 6 billion to close at EGP 3.720 trillion.

The EGX 30 index declined by 0.5% to close at 52,047 points, while the EGX 30 Capped index fell by 0.37% to close at 63,931 points. The EGX 30 Total Return index also decreased by 0.48% to close at 24,266 points, and the EGX 35-LV index, which tracks low-volatility stocks, rose by 0.26% to close at 6,081 points.

Meanwhile, the EGX 70 Equal Weight index, which tracks small and medium-sized enterprises, increased by 0.23% to close at 15,483 points, and the EGX 100 Equal Weight index rose by 0.15% to close at 21,262 points. The Sharia index, however, fell by 0.38% to close at 5,810 points.

● More than 10,000 barrels per day added from Khalda Petroleum fields in two weeks using the latest technologies and integrated operating models

● General Petroleum Company achieves highest production rates since October 2024 and adds 1,500 barrels per day from Sinan to maximize production from mature fields

As part of the Ministry of Petroleum and Mineral Resources' strategy to increase domestic oil and gas production, the petroleum sector has succeeded in adding nearly 12,000 barrels per day of crude oil and condensates to the Western Desert region's production over the past two weeks. This includes more than 10,000 barrels per day from Khalda Petroleum Company's fields, in addition to approximately 1,500 barrels per day from the General Petroleum Company's fields in the Abu Sinan area.

The positive results at Khalda Petroleum Fields exemplify the success of the intensive investment programs implemented recently. This success follows the restoration of trust with investment partners and the gradual repayment of outstanding dues over two years. These measures have contributed to increased investment spending, accelerated drilling, development, and exploration activities, and transformed promising opportunities into actual production that supports the local market. Khalda Petroleum, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Apache Corporation, achieved a significant production leap, adding more than 10,000 barrels per day (bpd) of crude oil and condensates in just two weeks. The company's production rose from 113,300 bpd on May 26, 2026, to approximately 123,500 bpd on June 8, 2026. This increase came after bringing five new wells online, including three development wells and two exploration wells, demonstrating the rapid success of the drilling and development programs. The results also confirm the company's efficiency in employing the latest technologies, digital solutions, and artificial intelligence to accelerate the development of discoveries and maximize production rates with the highest efficiency. In a related development aimed at maximizing production from state-owned assets, the General Petroleum Company achieved its highest production rates since October 2024, reaching a total output of approximately 74,500 barrels of oil equivalent per day, including nearly 61,000 barrels of crude oil. This reflects the success of intensive development programs, improved field operational efficiency, and accelerated production increase plans.

It is worth noting that the company achieved a new production addition from the Abu Sennan area in the Western Desert, which represents a distinguished model for maximizing the utilization of producing fields through the application of the latest technologies and Egyptian technical expertise. The GPF-1X exploration well has been brought online at a rate of approximately 1,500 barrels of crude oil per day, along with one million cubic feet of natural gas per day. Drilling results have shown positive indications of oil-bearing structures in other formations, including North Bahariya and Abu Rawash. Further testing and evaluation are planned for the coming period, which will support the potential for adding new reserves and increasing production rates. These results reflect the success of the Ministry of Petroleum and Mineral Resources' strategy to develop new discoveries and maximize the benefits from existing fields. This strategy involves expanding drilling and exploration activities, applying the latest technologies, and creating an attractive and stimulating investment environment to attract further investments, thereby supporting increased domestic production and reducing the import bill.

Madbouly: Expanding Renewable Energy Projects and Maximizing Their Contribution to the Energy Mix

Minister of Electricity: Supporting, Developing, and Modernizing the National Electricity Grid is an Ongoing Process to Increase its Capacity to Absorb Renewable Energy and Address Rising Loads

Minister of Finance: Supporting Efforts to Transition to Renewable Energy to Secure the Electricity Needs of Citizens and Investors

Minister of Planning and Economic Development: The Protocol Represents a Model of Integration Between the State's Financial and Investment Policies... and a Direct Strategic Investment in Infrastructure and National Projects

Prime Minister Dr. Mostafa Madbouly witnessed the signing ceremony of a protocol agreement to finance projects aimed at strengthening and developing the national electricity grid to accommodate renewable energy capacities.

The protocol agreement was signed by Eng. Mahmoud Esmat, Minister of Electricity and Renewable Energy, Mr. Ahmed Kouchouk, Minister of Finance, and Dr. Ahmed Rostom, Minister of Planning and Economic Development, to provide EGP 60 billion in funding to support the Egyptian Electricity Transmission Company, enhancing its financial and operational capabilities. Following the signing, the Prime Minister highlighted efforts to expand renewable energy projects and maximize their contribution to the energy mix, in line with the state's strategy for transitioning to a green economy and achieving sustainable development. He emphasized the continued implementation of projects to strengthen and develop the national electricity grid, including transmission, distribution, and distribution networks, to accommodate the planned additions from renewable energy projects.

Engineer Mahmoud Esmat affirmed that supporting and strengthening the national electricity grid, along with ongoing development and modernization programs, is a continuous and evolving process. This aims to enhance the grid's capacity to absorb new renewable energy generation and meet the increasing energy demand within the framework of the state's sustainable development plan, as well as address rising loads and consumption rates. He explained the importance of grid support projects to ensure sustainability, continuity, and stability of the electricity supply, and to improve the quality of services provided. He noted the acceleration of solar and wind energy projects and the streamlining of timelines to reach a 45% renewable energy share by 2028. He emphasized securing the necessary electricity for all uses, particularly major development projects, as a cornerstone of the reconstruction and development plan. The Minister of Finance affirmed the government's commitment to supporting the transition to renewable energy, including efforts to develop the electricity grid infrastructure. This support aims to ensure a sustainable supply of electricity for citizens and investors and to boost investment across various productive, industrial, and export sectors.

The Minister of Planning and Economic Development stated that this protocol exemplifies the integration of the state's fiscal and investment policies. He emphasized that allocating 60 billion Egyptian pounds to support the electricity transmission network is not merely sectoral financing, but a direct strategic investment in infrastructure and national projects. These projects are crucial for attracting foreign and domestic investment and for stimulating the private sector as a key partner in development.

Settlement of Financial Interlinkages Between the National Investment Bank and Water Companies Worth EGP 62.2 Billion, and Resolution of Debts Owed by the General Authority for Reconstruction and Agricultural Development Amounting to EGP 133.5 Billion as of End-December 2025

Prime Minister Madbouly: We will continue efforts to resolve financial interlinkages and address longstanding historical issues.

Minister of Finance: A strong start to structural reforms and the settlement of financial interlinkages that ensures the optimal utilization of state assets.

Development of financing structures, improvement of the performance of national companies and entities, and enhancement of their operational efficiency to achieve sustainable development goals.

Minister of Agriculture and Land Reclamation: Ongoing efforts to advance agricultural development, achieve self-sufficiency, and increase export rates.

Minister of Planning and Economic Development: What we witnessed today represents a pivotal milestone in joint government coordination under the direct supervision of the Prime Minister and a significant step driven by political will to close a file that burdened the economy for decades. These settlements will ease pressure on the state budget and help recover state assets.

Minister of Housing, Utilities, and Urban Communities: An important step within the state's efforts to address financial interlinkages among government entities.

As part of the coordination and integration among various state institutions to resolve historical financial interlinkages between the National Investment Bank (NIB) and government entities, and in implementation of the directives of President Abdel Fattah El-Sisi, Prime Minister Dr. Mostafa Madbouly witnessed the signing of two framework agreements this evening to settle historical financial obligations dating back, in some cases, to the 1980s. The total value of these settlements amounts to approximately EGP 196 billion, contributing to the restoration of financial balance for national entities and reducing pressure on the state budget.

The first framework agreement, aimed at resolving financial interlinkages between the National Investment Bank and the subsidiaries of the Holding Company for Water and Wastewater, was signed by Mr. Ahmed Kouchouk, Minister of Finance; Eng. Randa El-Menshawy, Minister of Housing, Utilities, and Urban Communities; and Dr. Ahmed Rostom, Minister of Planning and Economic Development.

Under this agreement, debts owed to the National Investment Bank by the subsidiaries of the Holding Company for Water and Wastewater, amounting to EGP 62.2 billion as of the end of December 2025, will be settled.

The second framework agreement, aimed at resolving financial interlinkages between the National Investment Bank, the General Authority for Reconstruction and Agricultural Development Projects, and the Egyptian Agricultural Authority, was signed by Mr. Ahmed Kouchouk, Minister of Finance; Mr. Alaa El-Din Farouk, Minister of Agriculture and Land Reclamation; and Dr. Ahmed Rostom, Minister of Planning and Economic Development.

The agreement provides for the settlement of debts owed to the National Investment Bank by the General Authority for Reconstruction and Agricultural Development, amounting to EGP 133.5 billion as of the end of December 2025, in addition to debts owed by the Egyptian Agricultural Authority amounting to EGP 306 million as of the end of March 2025.

Following the signing ceremony, the Prime Minister reaffirmed the government's commitment to completing the resolution of financial interlinkage files and addressing longstanding issues among government entities and institutions. He noted that these efforts would create greater opportunities for modernization and capacity building across these entities, ultimately enhancing the quality of services provided to citizens in various vital sectors.

The Minister of Finance emphasized that the close coordination among state institutions, reflected in the signing of these important agreements, represents a strong step forward in structural reforms and the settlement of financial interlinkages. He stated that these efforts will ensure the optimal utilization of state assets through improved financing structures, enhanced performance of national companies and entities, and greater operational efficiency in support of sustainable development objectives.

Kouchouk added that continuous coordination is taking place with all agriculture-related entities to remove obstacles and support genuine agricultural development opportunities, particularly in light of the government's strategy to expand cultivated land and reshape Egypt’s agricultural map.

In the same context, the Minister of Agriculture and Land Reclamation highlighted the ongoing efforts to advance agricultural development, achieve self-sufficiency, increase agricultural production, promote agro-industrial activities, and expand agricultural exports in line with Egypt’s sustainable development strategy and economic objectives.

For his part, the Minister of Planning and Economic Development stated that today's achievement marks a pivotal milestone in joint government coordination under the direct supervision of the Prime Minister. He stressed that these major settlements contribute significantly to macroeconomic stability, maximize the utilization of state resources and assets, and send a strong signal of confidence to the business community and investors that the government is serious about resolving longstanding financial issues.

Dr. Ahmed Rostom further emphasized the Ministry's commitment to accelerating efforts to close this file, enabling the National Investment Bank to restore its financial balance and continue fulfilling its vital role as one of the Egyptian state's key investment and development arms supporting economic and social development plans.

He also noted that intensive discussions are continuing to resolve any remaining financial interlinkages involving other entities.

Concluding his remarks, Rostom explained that the agreements signed today cover strategic sectors that are of the highest priority for Egypt's national security, particularly agriculture, food security, and drinking water. He stated that these settlements remove financial burdens that have constrained these sectors for decades and open new opportunities for growth and improved service delivery to citizens.

Eng. Randa El-Menshawy affirmed that the signing of the debt settlement agreement between the National Investment Bank and the subsidiaries of the Holding Company for Water and Wastewater represents an important step in the state's efforts to address financial interlinkages among government entities. She noted that it will contribute to strengthening financial discipline, improving the financial positions of the entities concerned, and enhancing the efficiency of managing state-owned resources and assets.

The Minister of Housing, Utilities, and Urban Communities added that this settlement serves as a model of coordination and integration among state institutions. She reaffirmed the Ministry's commitment to developing the drinking water and wastewater sector and improving the performance of the Holding Company's subsidiaries.

She noted that settling these financial obligations will strengthen the company's ability to fulfill its responsibilities within this vital sector, ensuring the sustainability and quality of services provided to citizens while contributing to the achievement of Egypt's urban and economic development goals nationwide.

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Statistics: Egyptian Exports to G7 Countries to Rise 15.6% in 2025 (June 15, 2026, 10:26:57 PM)

Data released by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Monday showed that the value of Egyptian exports to the G7 countries is expected to reach $11.1 billion in 2025, compared to $9.6 billion in 2024, representing a 15.6% increase.

Italy Leads the Way

Italy topped the list of G7 countries importing the most from Egypt in 2025, with exports valued at $4.1 billion. The United States followed with $2.7 billion, then the United Kingdom with $1.6 billion, Germany with $1.2 billion, France with $1.1 billion, Canada with $197.5 million, and finally Japan with $63 million.


Statistics: Egyptian Exports to G7 Countries to Rise 15.6% in 2025 (June 15, 2026, 10:26:57 PM) Major commodity groups exported to the G7 countries in 2025:

• Fuels, mineral oils, and their distillation products: $2.2 billion

• Ready-made garments: $1.8 billion

• Vegetables and fruits: $982 million

• Fertilizers: $758 million

• Aluminum and aluminum products: $571 million

• Plastics and plastic products: $489 million

Egyptian imports from the G7 countries reached $25.4 billion in 2025, compared to $20.3 billion in 2024, representing an increase of 25.1%. The United States topped the list of G7 countries exporting to Egypt in 2025, with imports from the US reaching $13 billion. Germany followed with $4.5 billion, then Italy with $3 billion, France with $1.8 billion, the United Kingdom with $1.7 billion, Japan with $934.5 million, and finally Canada with $357.5 million.

Main commodity groups imported from G7 countries in 2025:

• Fuels, mineral oils, and their distillation products: $8.4 billion

• Machinery, electrical equipment, and mechanical appliances: $3.4 billion

• Cars, tractors, and bicycles: $2.2 billion

• Oilseeds, oilseeds, and medicinal plants: $2.1 billion

• Pharmaceutical products: $1.4 billion Statistics indicate that the value of trade between Egypt and the G7 countries will reach $36.5 billion in 2025, compared to $29.9 billion in 2024, representing an increase of 22.1%.

Investments between Egypt and the G7 countries

The value of G7 investments in Egypt reached $10.1 billion during the 2024/2025 fiscal year, compared to $9.2 billion during the 2023/2024 fiscal year, an increase of 10.45%.

The United States ranked first among G7 countries investing in Egypt during the 2024/2025 fiscal year, with investments totaling $3.3 billion. It was followed by the United Kingdom with $2.9 billion, Italy with $2.5 billion, France with $767.1 million, Germany with $446.3 million, Japan with $191.5 million, and finally Canada with $60.2 million.

Meanwhile, Egyptian investments in G7 countries reached $6.7 billion during the 2024/2025 fiscal year, compared to $6.3 billion during the 2023/2024 fiscal year, representing an increase of 5.57%.

Italy topped the list of G7 countries in terms of the value of Egyptian investments during the 2024/2025 fiscal year, with investments totaling $2.6 billion. This was followed by the United Kingdom at $1.7 billion, the United States at $1.6 billion, France at $398.1 million, Germany at $347.5 million, Japan at $78.4 million, and finally Canada at $34 million.

Remittances between Egypt and the G7 countries: Data from the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed a significant increase in remittances from Egyptians working in the G7 countries, reaching $4.8 billion during the 2024/2025 fiscal year, compared to $3.2 billion during the 2023/2024 fiscal year, representing a 52.1% increase.

The United States topped the list of G7 countries in terms of remittances from Egyptians working there during the 2024/2025 fiscal year, with remittances totaling $3.1 billion. This was followed by the United Kingdom with $1.1 billion, Germany with $212.8 million, Italy with $158.4 million, Canada with $113.6 million, France with $99.7 million, and finally Japan with $8.7 million.

Remittances from G7 workers in Egypt also reached $192.3 million during the 2024/2025 fiscal year, compared to $133.4 million during the 2023/2024 fiscal year, representing an increase of 44.2%.

The United States ranked first in the value of remittances from G7 workers in Egypt during the 2024/2025 fiscal year, with remittances totaling $84.7 million. This was followed by the United Kingdom with $62.3 million, France with $17.7 million, Germany with $10.6 million, Canada with $8.3 million, Italy with $7.3 million, and finally Japan with $1.4 million.

The number of Egyptians residing in G7 countries, according to the mission's estimates, reached 3.2 million by the end of 2024.

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As part of the ongoing monitoring of activities and projects in the natural gas sector, Minister of Petroleum and Mineral Resources, Karim Badawi, visited the Egyptian Natural Gas Holding Company (EGAS), where he held an extensive meeting with the company's leadership, chaired by Managing Director, Eng. Sayed Selim, to review the progress and implementation plans of ongoing strategic projects across various sectors of the natural gas industry.

During the meeting, the Minister reviewed the implementation status of current projects and the progress achieved, as well as available investment opportunities and the challenges associated with project implementation. He emphasized that the current phase requires accelerating the pace of work and intensifying efforts to support the state's plans to increase domestic natural gas production and maximize the utilization of petroleum resources.

The Minister directed that all necessary support and facilitations be provided to expedite the implementation of investment projects and to work on removing all obstacles that may affect completion rates, ensuring the achievement of production and development targets and maximizing the state's economic returns.

The Minister also stressed the importance of adopting innovative and unconventional solutions and leveraging the latest global technologies and practices to enhance performance efficiency, improve the investment environment, and strengthen the competitiveness of the Egyptian gas sector.

The Minister affirmed his full support for EGAS as the state's primary arm in managing and developing natural gas activities. He noted that natural gas is a cornerstone of Egypt's energy system and a crucial driver for attracting investments, supporting economic growth, and maximizing the added value to the national economy.

Attracting Investments to Exploration Activities

The Minister also stressed the importance of continuing to attract investments to exploration, production, and development activities, and accelerating the development of new discoveries. This should be done in parallel with expanding natural gas transportation and distribution projects and developing infrastructure, thus supporting the state's strategy to solidify Egypt's position as a regional hub for gas trading and distribution, and meeting the increasing energy demand resulting from the expansion of national projects and comprehensive development plans.

For his part, Eng. Sayed Selim, the company's Managing Director and CEO, and his deputies reviewed EGAS's efforts in managing and developing the natural gas system, and its future plans to support exploration and production activities and infrastructure development. They affirmed their full commitment to implementing the pillars of the Ministry of Petroleum and Mineral Resources' strategy, working to increase production rates and achieve the highest levels of operational efficiency, while adhering to project timelines and applying the highest standards of occupational safety, health, and environmental protection.

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Minister of Industry Khaled Hashem announced that industrial land will soon be offered under a lease-to-own system for the first time. The offering and licensing will begin with small and medium-sized enterprises (SMEs) wishing to expand into targeted industries, thus easing the burden of land purchase costs for small manufacturers.

Speaking at a seminar at the Egyptian Center for Economic Studies today, Hashem explained that the land will be available for 21 years with rent payments starting from day one. Ownership will be available every seven years for those wishing to operate within the targeted industries.

Addressing the Crisis of Struggling Industries
Regarding struggling or stalled industries, the Minister stated that he is currently working to resolve this issue. However, the lack of a comprehensive inventory is one of the obstacles the Ministry is addressing by contacting the governorates to obtain accurate data.

He added, "We are developing a new program to connect struggling factory owners with those seeking industrial land. Expert appraisers will work to reach a fair agreement that satisfies both parties. We will also launch an initiative to provide capital financing for new entities."

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Minister of Industry Khaled Hashem affirmed that the ministry adopts a strategic vision based on scientific principles and meticulous analysis to define industrial targets. He emphasized that the goal is not merely to reach $100 billion in exports, but rather to achieve genuine industrial development that ensures an improved trade balance and addresses import gaps.

During a seminar at the Egyptian Center for Economic Studies, Hashem stated that analyses have revealed a situation requiring immediate intervention, as 12 out of 13 export councils are suffering from a negative trade balance. He pointed out that continuing exports at the same pace without increasing the local component means importing production inputs at a value exceeding the targeted export value. This necessitates focusing on the priorities of the 80/20 rule to achieve the greatest economic impact by concentrating efforts on specific sectors.

Targeted Industrial Sectors

Hashem added that the industries the state will prioritize fall into five main categories: priority industries, including automobiles, textiles and ready-made garments, electrical equipment, electronics, and food industries; basic industries, including iron and steel, fertilizers, building materials, and mining; enabling industries, which focus on manufacturing automation and energy, such as solar panels, wind turbines, and water treatment plant equipment; complementary "feeder" industries, which aim to replace imports of goods worth hundreds of millions of dollars, such as conveyor belts ($250-450 million annually), castings, and electrical wiring harnesses; and finally, recycling industries, which serve all other industrial sectors.

Feeder Industries and Exceptional Support

The minister explained that the coming period will witness intensive support for feeder industries (at the primary, secondary, and tertiary levels), including active pharmaceutical ingredients (APIs), automotive components, and electrical appliances. He emphasized that the difference in dealing with these sectors is that the ministry will take proactive measures by targeting major players. International and local companies in these fields will be offered special incentives to encourage them to establish their production facilities in Egypt.

Khaled Hashem stressed the need for transparency regarding existing obstacles, noting that the first step towards reform is acknowledging the shortage of skilled labor in sectors such as automotive and developing mechanisms to improve it. He also pledged to resolve licensing issues at the Industrial Development Authority and address conflicting regulations, stating, "As someone who came from the private sector, I experienced bureaucracy firsthand. Now, we are working to transform the strategy from mere slogans into an action plan with practical implementation."

The minister concluded his remarks by emphasizing that the ministry aims to build industries from scratch in technological sectors such as electronics, while simultaneously developing the pharmaceutical sector, which currently exports $1.3 billion annually, and expanding the food industry. All of this will be based on a scientific methodology that ensures the sustainability of industrial growth.

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Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, witnessed today at the Authority's headquarters in the New Administrative Capital the signing ceremony for a contract with the Turkish company "Zhejiang Hongda" for a textile manufacturing and processing project in the Qantara West Industrial Zone, which falls under the Authority's jurisdiction. The project's investment cost is $20 million, and it occupies an area of ​​60,000 square meters. It will create approximately 500 direct job opportunities and is expected to export 70% of its production. The contract was signed by Dr. Mustafa Sheikhou, Vice Chairman of the Suez Canal Economic Zone for Investment and Promotion, and by Malian Lin and Abdelmalek El-Dabi, the company's owners.

On the sidelines of the signing ceremony, the Chairman of the Suez Canal Economic Zone stated that the Qantara West region is witnessing rapid growth in attracting direct investment from several countries, particularly in priority sectors such as textiles and ready-made garments, food industries, and logistics. He noted that the number of actual projects in the Qantara West industrial zone has reached 53 to date, encompassing industrial, service, and logistics projects. The total investment cost of these projects amounts to $1.48 billion, providing approximately 69,000 direct job opportunities. These projects occupy a total area exceeding 3.42 million square meters.

Targeting a reduction in imports

As Walid Gamal El-Din explained, every new project in the sectors targeted for localization in the Qantara West Industrial Zone represents a direct reduction in the import bill and an increase in Egyptian exports abroad, in addition to meeting the needs of the local market and neighboring regional markets. He emphasized that the Suez Canal Economic Zone is keen to provide all forms of support to investors and industrial developers, and is working to complete all infrastructure and facilities projects according to the planned time rates, and in line with the demand for investment in the industrial zones and seaports affiliated with the Authority.

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Minister of Industry Khaled Hashem affirmed that achieving $100 billion in exports is not an end in itself, nor is it unattainable. However, a clear strategy is essential to achieve this target by deepening domestic industries, thus eliminating the need to import components worth $130 billion to reach the $100 billion export goal.

During a seminar held today by the Egyptian Center for Economic Studies, Hashem stated that Egyptian exports closed last year at $48 billion. He indicated that identifying targeted sectors is the only viable path to achieving the export target by 2030.

On Monday, June 15, Dr. Badr Abdel-Aty, Minister of Foreign Affairs, International Cooperation, and Egyptians Abroad, met with Ms. Nadia Calviٌo, President of the European Investment Bank (EIB), at the bank's headquarters in Luxembourg.

During the meeting, Minister Abdel-Aty emphasized the importance Egypt attaches to its comprehensive strategic partnership with the European Union, and the crucial role the EIB plays in supporting this partnership at both the development and investment levels. He commended the partnership between Egypt and the bank, noting that Egypt is the EIB's largest country of operations outside the European Union.

The Foreign Minister affirmed the Egyptian government's commitment to continuing the implementation of its economic and structural reform program, which aims to improve the investment climate and enhance the resilience of the Egyptian economy in the face of current regional and international challenges. He also highlighted the significant importance of the food security support project funded by the bank, and its contribution to strengthening the capacity to address global challenges related to supply chains. Minister Abdel-Aty commended the bank's contribution to financing infrastructure projects, particularly in the transport, water, and sanitation sectors. He highlighted the bank's pivotal role in supporting and implementing the NOVI program, a leading national platform that strengthens the linkages between the water, food, and energy sectors, and contributes to mobilizing concessional financing and supporting efforts to transition to a green economy.

The Foreign Minister also emphasized the importance of maximizing the benefits of the European Investment Bank's regional center in Cairo and its role in supporting regional cooperation. He expressed his aspiration to enhance joint cooperation in the coming phase in several areas, including green transformation projects and financing health and housing projects.

Minister Abdel-Aty, the bank's president, and the European Commissioner for the Mediterranean witnessed the signing ceremony of the government agreement for the electricity grid development project in Egypt, as well as the agreement for the "Development of a Multi-Vaccine Production Plant for VACSERA," which represents the first cooperation project between Egypt and the bank in the health sector.

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Minister of Finance Ahmed Kouchouk announced that the "real estate tax facilitations" aim to simplify procedures and reduce burdens and obligations. These facilitations include exempting primary family residences valued at less than EGP 8 million, instead of the previous EGP 2 million. He noted that a smart, indicative pricing map is being developed to assess built properties, aiming to standardize criteria and ensure fairness.

The Minister indicated that applications for exemption for primary family residences can be submitted electronically through the tax return, eliminating the need to visit a real estate tax office. He explained that late payment penalties will be waived upon payment of the principal tax amount by October 2nd, and that settlements can be reached in pending disputes upon payment of 70% of the tax by October 2nd.

He confirmed that there is no tax if the property is destroyed or emergency circumstances prevent the use or benefit of the building, noting that there is a tax incentive for taxpayers who are committed to submitting returns on time, with a 25% discount on the value of the tax for residential units and 10% for non-residential units. This incentive is increased to 30% as a discount on the tax when payment is made on account in amounts ranging from 200 pounds to 1,000 pounds depending on the type of unit.

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Mohamed Farid: The partnership represents an advanced model for technology-based investments and knowledge transfer, reflecting the growing confidence of international companies in the Egyptian economy.

As part of the state's efforts to promote the localization of advanced industries and attract quality investments that support manufacturing and exports, Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, witnessed the official launch ceremony of the strategic partnership between Ezz El-Arab El-Sewedy Investment Group and ROX Motor, a global company, for the manufacturing of new energy vehicles in Egypt. The ceremony was attended by a number of business and industry leaders.

The Minister of Investment emphasized that this partnership reflects the state's focus on attracting productive industrial investments based on technology and knowledge transfer. This will contribute to deepening local manufacturing and increasing added value, as well as boosting exports and integration into global value chains, thereby supporting the competitiveness of the Egyptian economy.

Modern Investments

Dr. Farid pointed out that the project represents a model for modern, technology-based investments capable of export expansion. It also reflects the confidence of international companies in the Egyptian economy and its investment potential.

The project is based on the existing industrial base of the Ezz El-Arab Swedish Automotive Company, whose total investments exceed $100 million and whose current production capacity is approximately 40,000 vehicles annually, with an expansion plan aiming to reach more than 80,000 vehicles annually in the coming phases.

According to the implementation timeline, ROX vehicle manufacturing in Egypt is scheduled to begin in the second or third quarter of 2027, with a gradual increase in production capacity to reach approximately 10,000 vehicles annually within the first three years. The company also aims to allocate more than 50% of the first phase's production for export to the Gulf and African markets, starting in the second half of 2027.

Manufacturing Hub

The Minister emphasized that Egypt possesses strong competitive advantages that qualify it to become a regional hub for the manufacturing and export of new energy vehicles, given its strategic geographic location connecting Africa, the Middle East, and Europe, in addition to a wide network of free trade agreements, a large domestic market, and a growing and expandable industrial base.

He added that the new energy vehicle sector is a national priority at this stage, given the opportunities it offers for technology transfer and increasing local content. He pointed to promising opportunities in supporting industries, including tires, sensors, electronic circuits, wiring harnesses, glass, plastic and rubber parts, batteries, screens and electronic systems, and other value chain components.

Ministerial Coordination

He explained that the government is working, through full coordination between the Ministries of Investment and Foreign Trade, Industry, and Finance, as well as other relevant entities, to update the National Automotive Industry Development Program, increase the percentage of locally sourced components, and expand the base of supporting industries.

In this context, he pointed out that the state provides a comprehensive system of investment incentives, including those stipulated in Presidential Decree No. 218 of 2022 concerning the National Program for the Development of the Automotive Industry, in addition to the facilities provided by Customs Law No. 207 of 2020 and the Investment Law. These include the installment payment of customs duties on machinery, equipment, and production lines, the application of reduced customs rates, and mechanisms for refunding import duties on inputs destined for export.

The Minister emphasized that the Ministry is working to simplify licensing procedures and improve the quality of services provided to investors, ensuring a comprehensive and clear vision from the establishment stage through to accessing foreign markets, encompassing incentives, land, and infrastructure.

He affirmed that the partnership between a global company like ROX Motor and a national group like Ezz El-Arab El-Sewedy reflects strong confidence in the Egyptian economy and embodies the importance of integration between the local private sector and international companies, by combining advanced technological expertise, executive capabilities, and market knowledge.

The minister concluded by emphasizing that the launch of the ROX Egypt project represents a qualitative addition to the automotive industry in Egypt, and an important step towards building a future-oriented industry. He expressed the state's aspiration for this partnership to be a starting point for larger expansions that contribute to attracting more suppliers and building integrated value and supply chains that serve the local and export markets, with the continued support of the Ministry of Investment and Foreign Trade to ensure the actual implementation and transformation of the project into sustainable production and export capacities with added value for the national economy.

In preparation for its launch in September 2026...

● Chairman of the Suez Canal Economic Zone Authority witnesses the signing of a cooperation protocol with the Elsewedy Technical Academy to qualify personnel and link training to the needs of industrial companies within the Authority's jurisdiction.

● Walid Gamal El-Din: Enhancing integration between technical education and industry needs is a fundamental pillar for investment sustainability and developing productive capacities.

Mr. Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, witnessed today at the Authority's headquarters in the New Administrative Capital, the signing ceremony of a cooperation protocol with the Elsewedy Electric Foundation – Elsewedy Technical Academy. This protocol falls within the framework of the presidential initiative "Alliance and Development." The cooperation protocol aims to establish a general framework for joint cooperation in the fields of technical training and vocational qualification, contributing to the preparation of qualified technical personnel capable of meeting the needs of the labor market within the Authority's industrial zones and supporting industrial and investment expansion plans. This paves the way for the opening of the Elsewedy Technical Academy in the Ain Sokhna Industrial Zone in the coming period. The protocol was signed by Captain Ahmed Gamal, Vice Chairman of the Authority for the Southern Region, and Ms. Hanan El-Rihani, CEO of the Elsewedy Technical Academy and Secretary General of the Elsewedy Electric Foundation. The protocol aims to develop an integrated technical training system directly linked to the needs of industrial companies. This will be achieved through conducting training needs analysis surveys, designing specialized applied programs in electricity, mechanics, operation and maintenance, occupational safety and health programs, and advanced programs in new and renewable energy, green hydrogen, and green ammonia. Additionally, it includes "training for employment" programs that connect trainees with real job opportunities within factories, as well as upskilling and reskilling programs to keep pace with the evolving needs of industrial sectors within the organization's scope.

In this context, Mr. Walid Gamal El-Din affirmed that the General Authority for the Suez Canal Economic Zone is steadily progressing towards building an integrated development model that not only provides infrastructure and attracts investments, but also extends to human development and training, recognizing this as the crucial element in the success and sustainability of any advanced industrial project. He pointed out that strengthening the integration between technical education and industry needs is a fundamental pillar for investment sustainability and developing productive capacities. He added that the Authority is working to support this direction through strategic partnerships with specialized training institutions, contributing to the provision of technically skilled personnel trained according to the latest international standards. This enhances the ability of the Authority's industrial zones to attract quality investments in targeted sectors and increase the added value to the national economy.

It is worth noting that the Elsewedy Technical Academy, whose branch in the Ain Sokhna Industrial Zone of the General Authority for the Suez Canal Economic Zone will begin operating in September 2026 in partnership with the German Development Bank (KfW) and Banque Misr, aims to enroll 450 students in its first academic year, with a total capacity planned for 1,350 students. The academy offers a three-year "dual technical education" program based on the German model, allowing students to combine theoretical study with practical training in a real industrial environment. Graduates receive two certificates: one from the Egyptian Ministry of Education and Technical Education, and a competency certificate accredited by the German Chamber of Commerce and Industry. The educational programs are based on curricula specifically designed to meet the actual needs of factories and industrial companies, with 80% dedicated to practical training and 20% to theoretical study. The academy also offers specialized programs in the fields of mechanics, electricity, hydraulics, pneumatics, information and communication technology (ICT), and green hydrogen, which contributes to preparing qualified technical personnel according to the latest international standards, and capable of meeting the needs of the industrial labor market within the scope of the authority and supporting the state’s directions towards modern technological education.

The Central Agency for Public Mobilization and Statistics (CAPMAS) issued its annual bulletin on public sector/public business sector employment statistics for 2025 on Monday, June 15, 2026. The bulletin reported the following:

The total number of public sector/public business sector employees reached 586,100 in 2025, compared to 620,100 in 2024, representing a decrease of 5.5%.

The development of public sector/public business sector employment figures during the period (2021-2025) showed:

- The number of male employees reached 515,000 in 2025, compared to 544,000 in 2024, a decrease of 5.3%.

- The number of female employees reached 71,100 in 2025, compared to 76,100 in 2024, a decrease of 6.6%. The housing and construction sector recorded the highest number of employees, reaching 210,500 workers, representing 35.9% of the total. This was followed by the industry, petroleum, and mineral resources sector at 19.7%, and then the electricity sector at 17.9% of the total public sector/public business sector workforce.

Distribution of the number of employees according to the five largest governorates for 2025: Cairo Governorate recorded the highest number of public sector employees, with approximately 177,000 workers, representing 30.3% of the total workforce. This was followed by Alexandria Governorate with approximately 55,000 workers, then Giza with approximately 36,000 workers, then Gharbia with approximately 30,000 workers, and finally Qalyubia Governorate with approximately 25,000 workers. Executive positions accounted for the highest percentage at 37.8% of the total workforce, while clerical positions accounted for the lowest percentage at 1.2%.

● Technical cooperation in supporting and strengthening the unified grid, enhancing its capabilities, and improving energy efficiency.

● Dr. Mahmoud Esmat: The bank is a partner in success and a key supporter of development projects and increasing the grid's capacity to absorb renewable energy.

Within the framework of cooperation and partnership with multilateral international banks, and continuing coordination with international financing institutions in light of the national energy strategy and the state's vision for energy transformation, Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy, met at the Ministry's headquarters in the New Administrative Capital with Matteo Patroni, Vice President of the European Bank for Reconstruction and Development (EBRD), and his accompanying delegation. Also present were Dr. Ahmed Mohina, Head of the Strategic Planning and Performance Monitoring Sector, Major General Mohamed Eissa, Head of the Central Department for International Cooperation, and a number of ministry leaders and project managers. The meeting focused on discussing and following up on cooperation projects and joint work, as well as coordinating and strengthening partnerships for future projects in various electricity sectors, particularly projects to support the grid and increase its capacity to absorb new renewable energy capacities.

● Technical cooperation in supporting and strengthening the unified grid, enhancing its capabilities, and improving energy efficiency.

● Dr. Mahmoud Esmat: The bank is a partner in success and a key supporter of development projects and increasing the grid's capacity to absorb new renewable energy capacities. The meeting addressed cooperation in supporting the unified grid, providing technical support and collaborating with the New and Renewable Energy Authority on wind measurements in several regions, including West Sohag. Discussions also covered rehabilitation and expansion plans for generation capacity to meet the anticipated increase in electricity demand, and support for renewable energy projects. This aligns with the national energy strategy, which aims to increase the share of renewable energy in the energy mix to 45% by 2028, up from 42% by 2030. The meeting also discussed the latest developments in the implementation of projects and additional investment plans within the framework of cooperation to support and develop the electricity transmission network. Furthermore, the meeting addressed the strategy for securing the grid and ensuring the stability of electricity supply, given the reliance on solar and wind energy.

Dr. Mahmoud Esmat praised the fruitful cooperation and partnership between the electricity sector and the European Bank for Reconstruction and Development, stressing that the bank's role in financing the sector's projects has had a significant impact on increasing generation capacities and modernizing the unified grid. He added that the bank is a partner in success and a key supporter in projects to support and develop the national electricity grid, as well as renewable energy projects and the development of control centers on distribution networks. He pointed out the continuation of work with international financing institutions and partners within the framework of existing cooperation to achieve sustainable development goals and increase reliance on clean electricity and make it available continuously and sustainably for all uses. He emphasized the importance of investing in what has been achieved in terms of creating an attractive investment climate for renewable energy projects and supporting partnership with the private sector that implements solar and wind energy projects, as well as energy storage batteries.

The Central Bank of Egypt's (CBE) foreign currency reserves reached approximately EGP 2.568 trillion at the end of May, compared to approximately EGP 2.429 trillion at the end of April.

The CBE stated that currency in circulation outside the central bank's vaults reached EGP 1.806 trillion at the end of May, compared to EGP 1.743 trillion at the end of April 2026.

Bank deposits in local currency increased to EGP 762.386 billion at the end of May, compared to EGP 686.165 billion at the end of April 2026.

Net foreign assets at the CBE reached approximately USD 15.217 billion, equivalent to EGP 796.341 billion, at the end of May 2026, compared to approximately USD 15.160 billion, equivalent to EGP 813.619 billion, at the end of April 2026.

● Dr. Mohamed Farid:

▪︎ This partnership represents an advanced model for technology-based investments and knowledge transfer, reflecting the growing confidence of international companies in the Egyptian economy.

▪︎ Egypt possesses competitive advantages that qualify it to solidify its position as a regional hub for the manufacturing and export of new energy vehicles.

▪︎ The state aims to attract export-oriented production investments, deepen local manufacturing, and increase added value.

▪︎ The government provides a comprehensive vision for investors, starting from establishment and licensing to accessing foreign markets.

▪︎ Coordination is ongoing between the Ministries of Investment, Industry, and Finance to update the national automotive industry program and expand the base of supporting industries.

As part of the state's efforts to promote the localization of advanced industries and attract quality investments that support manufacturing and exports, Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, witnessed the official launch ceremony of the strategic partnership between Ezz El-Arab El-Sewedy Investment Group and ROX Motor, a global company, for the manufacturing of new energy vehicles in Egypt. The ceremony was attended by a number of business and industry leaders.

The Minister emphasized that this partnership reflects the state's focus on attracting productive industrial investments based on technology and knowledge transfer, contributing to deepening local manufacturing and increasing added value, as well as boosting exports and integration into global value chains, thus supporting the competitiveness of the Egyptian economy.

Dr. Farid pointed out that the project represents a model for modern, technology-driven investments capable of export expansion, and reflects the confidence of international companies in the Egyptian economy and its investment potential.

The project builds upon the existing industrial base of the Ezz El-Arab Swedish Automotive Factory, whose total investments exceed $100 million and whose current production capacity is approximately 40,000 cars annually, with an expansion plan aiming to reach more than 80,000 cars annually in the coming phases.

According to the implementation timeline, ROX car manufacturing in Egypt is scheduled to begin in the second or third quarter of 2027, with a gradual increase in production capacity to reach approximately 10,000 cars annually within the first three years. The company also aims to allocate more than 50% of its first-phase production for export to Gulf and African markets starting in the second half of 2027.

The minister emphasized that Egypt possesses strong competitive advantages that qualify it to become a regional hub for the manufacturing and export of new energy vehicles, given its strategic geographic location connecting Africa, the Middle East, and Europe, in addition to its extensive network of free trade agreements, large domestic market, and growing, expandable industrial base.

He added that the new energy vehicle sector is a national priority at present, as it offers opportunities for technology transfer and increased local content. He pointed to promising opportunities in the supporting industries, which include tires, sensors, electronic circuits, wiring harnesses, glass, plastic and rubber parts, batteries, screens and electronic systems, and other value chain components.

He explained that the government is working, through full coordination between the Ministries of Investment and Foreign Trade, Industry, and Finance, and other relevant entities, to update the national program for developing the automotive industry, increase the percentage of locally sourced components, and expand the base of supporting industries. In this context, he pointed out that the state provides a comprehensive system of investment incentives, including those stipulated in Presidential Decree No. 218 of 2022 concerning the National Program for the Development of the Automotive Industry, in addition to the facilities provided by Customs Law No. 207 of 2020 and the Investment Law. These include the installment payment of customs duties on machinery, equipment, and production lines, the application of reduced customs rates, and mechanisms for refunding import duties on inputs destined for export.

The Minister emphasized that the Ministry is working to simplify licensing procedures and improve the quality of services provided to investors, ensuring a comprehensive and clear vision from the establishment stage through to accessing foreign markets, encompassing incentives, land, and infrastructure.

He affirmed that the partnership between a global company like ROX Motor and a national group like Ezz El-Arab El-Sewedy reflects strong confidence in the Egyptian economy and embodies the importance of integration between the local private sector and international companies, by combining advanced technological expertise, executive capabilities, and market knowledge. The minister concluded by emphasizing that the launch of the ROX Egypt project represents a qualitative addition to the automotive industry in Egypt, and an important step towards building a future-oriented industry. He expressed the state's aspiration for this partnership to be a starting point for larger expansions that contribute to attracting more suppliers and building integrated value and supply chains that serve the local and export markets, with the continued support of the Ministry of Investment and Foreign Trade to ensure the actual implementation and transformation of the project into sustainable production and export capacities with added value for the national economy.

The Central Bank of Egypt's net foreign assets reached approximately $15.217 billion, equivalent to EGP 796.341 billion, at the end of May 2026, compared to approximately $15.160 billion, equivalent to EGP 813.619 billion, at the end of April 2026.

Net foreign assets are a key indicator of the strength and stability of the banking sector, reflecting the difference between the central bank's foreign currency assets and its foreign currency liabilities. This contributes to assessing the economy's ability to withstand external pressures.

In May 2024, the Central Bank announced a shift in net foreign assets from a deficit to a surplus for the first time since March 2022, recording a surplus of EGP 458.630 billion, compared to a deficit of EGP 36.070 billion at the end of April of the same year.

The exchange rate of the US dollar was recorded at EGP 52.3297 at the end of May, compared to EGP 53.6663 at the end of the preceding April.

On the sidelines of his participation today, on behalf of His Excellency President Abdel Fattah El-Sisi, in the opening of the fifth edition of the African Medical Exhibition and Conference, held under the auspices of His Excellency the President, Prime Minister Dr. Mostafa Madbouly witnessed the signing of three strategic Memoranda of Understanding (MoUs). These MoUs reflect the Arab Republic of Egypt's commitment to strengthening regional and international cooperation, supporting African integration, and developing pharmaceutical and healthcare systems to contribute to achieving health security and sustainable development.

The first MoU was signed between the Egyptian Drug Authority and the National Agency for Pharmaceutical Products of the People's Democratic Republic of Algeria, for cooperation in the field of medical preparations and supplies. It was signed by Dr. Ali El-Ghamrawy, Chairman of the Egyptian Drug Authority, and Dr. Cherif Delah, Director General of the National Agency for Pharmaceutical Products.

The second MoU concerns the Arab Republic of Egypt's hosting of the operational headquarters of the African Single Procurement Mechanism (APPM). This MoU was signed between the Egyptian Authority for Unified Procurement, Medical Supply and Logistics and Medical Technology Management and the Africa Centres for Disease Control and Prevention (Africa CDC). The Memorandum of Understanding was signed by Dr. Hisham Steit, Chairman of the Egyptian Authority for Unified Procurement, and Dr. John Kasiya, Director-General of the Africa Centres for Disease Control and Prevention (Africa CDC).

The third Memorandum of Understanding, concerning the participation of the Arab Republic of Egypt in the African Unified Procurement Mechanism (APPM), was signed between the Egyptian Authority for Unified Procurement, Medical Supply and Logistics and Medical Technology Management, and the Africa Centres for Disease Control and Prevention (Africa CDC). This Memorandum of Understanding was signed by Dr. Hisham Steit, Chairman of the Egyptian Authority for Unified Procurement, and Dr. John Kasiya, Director-General of the Africa Centres for Disease Control and Prevention.

With an initial investment of $400 million to establish a state-of-the-art data center built to the highest international standards

● The Minister of Communications and Information Technology witnesses the signing ceremony of a license granted to Hassan Allam Digital Infrastructure and Data Center Solutions to establish and operate data centers and provide cloud computing services

● Eng. Raafat Hindi: Granting the license reflects the state's interest in developing the data center and cloud computing industry in Egypt, considering it a vital sector supporting the digital economy

● The Minister of Communications: We are working in cooperation with various stakeholders to prepare a comprehensive national strategy for data centers and cloud computing aimed at enhancing digital sovereignty and consolidating Egypt's position as a regional hub for data exchange and digital services

Eng. Raafat Hindi, Minister of Communications and Information Technology, witnessed the signing ceremony of a license between the National Telecommunications Regulatory Authority and Hassan Allam Digital Infrastructure and Data Center Solutions to establish and operate data centers and provide cloud computing services.

Hassan Allam Digital Infrastructure and Data Center Solutions plans to invest approximately $400 million in the first phase of establishing a state-of-the-art data center, designed according to the highest international standards. Plans are in place to expand and increase investments in the coming years to meet the growing demand for data hosting and cloud computing services, serving government institutions, the financial sector, and local and international companies.

The license was signed by Eng. Mohamed Shamroukh, CEO of the National Telecommunications Regulatory Authority (NTRA), and Ms. Dalia Wahba, Board Member of Hassan Allam Digital Infrastructure and Data Center Solutions, in the presence of Eng. Amr Allam, CEO of Hassan Allam Holding, Eng. Amr Abbas, Vice President of the NTRA for Regulation and Market Governance, Mr. Karim Bishara, Managing Partner of A15, and several executives from the Ministry of Communications and Information Technology, the NTRA, and Hassan Allam.

The license will serve government institutions, the financial sector, and local and international companies. Minister of Communications and Information Technology, Raafat Hindi, affirmed that granting this license reflects the state's commitment to developing the data center and cloud computing industry in Egypt, considering it a vital sector supporting the digital economy. He noted that the state is working to create an attractive investment and regulatory environment that will contribute to attracting more local and foreign investments in this field.

He added that the Ministry is working in cooperation with various stakeholders to prepare a comprehensive national strategy for data centers and cloud computing, aimed at enhancing digital sovereignty and consolidating Egypt's position as a regional hub for data exchange and digital services, leveraging its distinguished geographical location and advanced digital infrastructure.

The Minister of Communications and Information Technology explained that developing the regulatory and legislative framework for the sector is a key pillar in supporting the growth of this industry, keeping pace with global developments and enabling the provision of data center and cloud computing services according to the highest international standards, thus meeting the needs of local, regional, and global markets. For his part, Eng. Mohamed Shamroukh, CEO of the National Telecommunications Regulatory Authority (NTRA), affirmed that the Authority continues to develop regulatory frameworks that support the growth of the data center and cloud computing market in Egypt, keeping pace with global developments and ensuring the provision of efficient, reliable, and secure services.

He added that the expansion in issuing data center licenses reflects the growing demand for these services and increasing confidence in the Egyptian market, emphasizing the Authority's commitment to providing a balanced regulatory environment that supports innovation and investment, and enables various sectors to benefit from the latest digital and technological solutions. Eng. Mohamed Magdy Allam, Managing Director of Hassan Allam Digital Infrastructure, stated: “Obtaining the license for the new system represents a significant strategic step that enhances our ability to contribute to meeting the growing demand for data center services, cloud computing, artificial intelligence applications, and the data-driven economy. This initiative is based on a strategic partnership with A15, combining Hassan Allam’s expertise in developing and implementing infrastructure projects with A15’s specialized digital and operational expertise. With an initial investment of US$400 million and a phased expansion plan, we are establishing a platform capable of meeting future digital needs and attracting high-quality investments. This will contribute to solidifying Egypt’s position as a leading regional hub for technology, innovation, and digital services, extending the Hassan Allam Group’s ongoing role in developing infrastructure that supports economic growth and creates sustainable value for future generations.”

This step aligns with the state’s strategy to enhance the readiness of digital infrastructure, support investment in the ICT sector, and expand the scope of data center and cloud computing services as key pillars for supporting digital transformation. It also aims to enable digital services and enhance the efficiency and security of electronic transactions provided to citizens and businesses. This license represents a new step in the state's efforts to support and develop the data center and cloud computing industry and enhance Egypt's competitiveness as a regional digital hub.

It is worth noting that the National Telecommunications Regulatory Authority has issued ten licenses for the establishment and operation of data centers over the past two years, reflecting growing investor confidence in the Egyptian market and its attractiveness for major technology investments.

The Central Bank of Egypt will issue EGP 1.5 billion in three-year, fixed-rate sovereign sukuk on Monday, June 15, 2026. The sukuk will be issued on Tuesday, June 16, 2026, with a maturity date of June 16, 2029. The interest payments will be made semi-annually.

Sovereign sukuk are defined as government securities compliant with Islamic Sharia principles. They are issued in one or more tranches and represent common shares for their holders in the usufruct rights of assets, according to the nominal value of the sukuk.

The Housing and Development Bank announced that Hassan Ghanem has submitted his resignation from his position as CEO and Managing Director, effective June 30, 2026.

The bank's Board of Directors accepted Ghanem's resignation and approved the appointment of Yehia Aboul Fotouh as CEO and Managing Director, effective July 1, 2026, subject to obtaining all necessary approvals from the relevant authorities.

The Board also approved Aboul Fotouh's nomination to the Employees' Fund Board, effective July 1, 2026, until the end of the current Board term.

Under the Prime Minister’s Patronage

Minister of Industry Participates in the Opening of the 32nd Annual International Forum of the Arab Fertilizer Association Held Under the Theme “Sustainable Environment and Safe Food” and Tours the Accompanying Exhibition

Eng. Khaled Hashem:

The forum is being held at a time when food security, environmental sustainability, and supply chain resilience are becoming increasingly important.
Stable energy supplies to the industrial sector, without interruption or reduction, have contributed to the continuity of production in the fertilizer industry, enabling factories to meet domestic market needs and enhance Egyptian exports.
Egypt’s exports of chemicals and fertilizers reached approximately US$9.4 billion in 2025, recording a 7% growth rate compared to 2024. Italy, Turkey, Brazil, Saudi Arabia, France, and Spain were among the leading import markets for the sector’s exports.
The fertilizer industry holds particular importance in light of Egypt’s major national projects, foremost among them the New Delta Project and the Mostaqbal Misr (Future of Egypt) Sustainable Development Project.

Eng. Khaled Hashem, Minister of Industry, participated in the opening ceremony of the 32nd Annual International Conference and Exhibition of the Arab Fertilizer Association, held under the patronage of the Prime Minister and under the theme “Sustainable Environment and Safe Food.” The event was attended by Mr. Alaa Farouk, Minister of Agriculture and Land Reclamation (representing Prime Minister Dr. Mostafa Madbouly), Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, Dr. Abdel Wahab Al-Rawad, Chairman of the Arab Fertilizer Association, Chemist Saad Abu Al-Maati, Secretary-General of the Association, Eng. Mohamed Zada, Assistant Minister of Industry for Strategic Industries, along with representatives of government agencies, international organizations, and fertilizer-producing companies.

Minister Hashem stated that this forum is one of the most prominent specialized events in the fertilizer industry across the Arab region and the Middle East, bringing together a distinguished group of policymakers, experts, producers, investors, and representatives of international institutions. It provides an important platform for exchanging expertise and showcasing the latest technical and technological developments in this vital industry.

He noted that the event derives added significance from the role played by the Arab Fertilizer Association since its establishment in fostering cooperation among companies and institutions operating in the sector and promoting the exchange of technical and technological knowledge, thereby contributing to the development of the fertilizer industry and strengthening its ability to adapt to global changes.

The Minister emphasized that the forum is taking place at a time when food security, environmental sustainability, and supply chain resilience have become central pillars of economic development agendas worldwide. In this context, the fertilizer industry stands out as a fundamental sector supporting agricultural production through its role in enhancing land productivity and improving resource-use efficiency, thereby supporting food security efforts and meeting growing demand for food.

He added that the fertilizer industry represents a critical link within the value chains associated with the agricultural and food sectors and contributes to economic value creation, job generation, and the support of productive and export-oriented activities across many Arab countries.

Hashem explained that the fertilizer industry holds special significance in light of Egypt’s efforts to expand cultivated land and increase agricultural production through a number of major national projects aimed at strengthening food security, most notably the New Delta Project and the Mostaqbal Misr Sustainable Development Project.

He noted that fertilizers and agricultural nutrients are among the key inputs required to maximize the benefits of these projects and achieve their production targets. They play a vital role in improving the efficiency of reclaimed land, enhancing crop productivity, and supporting sustainable agricultural development.

The Minister stressed that integration between the fertilizer industry, agricultural production, and food industries creates added value for the national economy, strengthens local value chains, increases employment opportunities, and enhances the competitiveness of Egyptian products in local, regional, and international markets.

He pointed out that the Egyptian government places great importance on industrial development as one of the primary drivers of sustainable economic growth. In this context, the Ministry of Industry is implementing a comprehensive strategy aimed at increasing Egypt’s industrial exports to US$100 billion by 2030.

The strategy focuses on attracting global investments associated with technology transfer, localizing and deepening domestic manufacturing, and integrating more effectively into the global economy and international production networks. The Ministry is also working in partnership with the private sector and relevant stakeholders to improve the industrial business environment, streamline procedures, and enhance services provided to investors, thereby supporting the growth and expansion of Egyptian industry and strengthening Egypt’s position as a regional industrial hub capable of accessing global markets.

Hashem highlighted that food industries are among the priority sectors identified in Egypt’s Industrial Strategy, while the fertilizer industry is classified as a strategic sector, reflecting its importance and promising growth opportunities. These opportunities are supported by Egypt’s strong production capabilities, industrial and logistics infrastructure, and strategic geographic location connecting regional and global markets.

He emphasized that despite the challenges facing global energy markets due to geopolitical tensions in the region, the Egyptian government, through continuous coordination among ministries and relevant authorities and ongoing consultations with investors and manufacturers, has ensured the provision of all energy requirements for the industrial sector. Stable energy supplies have been maintained without interruption or reduction, enabling continued fertilizer production, meeting domestic market needs, and boosting Egyptian exports.

The Minister stated that Egypt’s exports of chemicals and fertilizers reached approximately US$9.4 billion in 2025, marking a 7% increase compared to 2024. Italy, Turkey, Brazil, Saudi Arabia, France, and Spain ranked among the top destinations for these exports.

He further noted that Egypt occupies a leading position in the global fertilizer market, with fertilizer exports accounting for nearly one-third of total exports from the chemicals and fertilizers sector. This reflects the strength and competitiveness of Egyptian industry and its ability to penetrate regional and international markets.

Hashem stressed that rapidly evolving global developments require all industrial sectors, including fertilizers, to continue enhancing production efficiency, improving environmental performance, and increasing their adaptability to emerging regulatory requirements in international markets.

Accordingly, the Ministry of Industry is supporting the transition toward sustainable industry by promoting energy and resource efficiency, encouraging circular economy applications, and fostering industrial practices that comply with international environmental standards.

The Ministry is also closely monitoring developments related to the European Union’s Carbon Border Adjustment Mechanism (CBAM) and coordinating with relevant stakeholders and the private sector to enhance the readiness of Egyptian industry to comply with these requirements while maintaining its competitiveness in export markets.

In addition, the Ministry continues its efforts to develop technical education and vocational training systems and align them with industry needs, thereby preparing qualified technical personnel capable of handling advanced technologies, digital transformation requirements, and the rapidly changing global manufacturing environment.

The Minister added that the challenges and opportunities facing the fertilizer industry today underscore the importance of strengthening cooperation among governments, the private sector, and regional and international institutions, exchanging expertise and best practices, and jointly developing solutions that support the sustainability of the industry and reinforce its role in economic development and food security.

He expressed hope that the discussions and technical sessions included in the forum would generate practical ideas and recommendations that support the future of the fertilizer industry and strengthen its ability to adapt to global changes and capitalize on opportunities in the coming years.

On the sidelines of the opening ceremony, the ministers toured the accompanying exhibition, which featured a large number of fertilizer producers, technology licensors, equipment and spare-parts suppliers, chemical suppliers, and providers of catalysts and supporting materials. The exhibition offered valuable opportunities for networking, partnership-building, and showcasing the latest solutions and technologies supporting the advancement of the fertilizer industry.

- Maximum protection and security for electronic government transactions, in accordance with the latest global standards.

- Integration of electronic signatures with government digital applications and secure data exchange.

- Electronic seals to replace traditional seals for government entities operating on automated systems.

- We are studying the establishment of electronic seal and signature issuance centers in the governorates.

Minister of Finance Ahmed Kouchouk affirmed that the government is working to accelerate its digital transformation to facilitate services for citizens and investors across various sectors, and to achieve the highest levels of protection and security for electronic government transactions, in accordance with the latest global standards.

The Minister added, during the inauguration of the upgraded data center at the Electronic Certification Authority, that there is a package of security services for automated government systems to achieve integration between electronic signatures and government digital applications and secure data exchange. He also noted that electronic seals will replace traditional seals for government entities operating on automated systems.

The minister stated that they are studying the establishment of electronic seal and signature issuance centers in the governorates to facilitate procedures for employees in the state's administrative apparatus and reduce financial expenditures. They also aim to launch a centralized government electronic signature exchange center to operate during crises.

Major General Mohamed El-Badry, head of the Government Electronic Certification Authority at the Ministry of Finance, confirmed that the center's development included upgrading the system's hardware and software. This ensures the continued provision of services related to government systems with accuracy and a high degree of protection and security. These systems include the Egyptian Foreign Trade System ("Nafeza"), the electronic payment and collection system, the law enforcement system in public prosecution offices and some courts, and the system for the New Administrative Capital.

He explained that the Government Electronic Certification Authority is the sole entity authorized to issue electronic signature certificates for government employees, licensed by the Information Technology Industry Development Agency (ITIDA), which is responsible for regulating the electronic signature process in Egypt. He added that the system provides many services to ministries and government agencies, which are the issuance of electronic signature certificates, electronic seals, and time stamps for government systems, training individuals on how to use government electronic signatures, and providing technical advice and expertise in this regard. He pointed out that the electronic application for managing Cabinet sessions is documented and secured with the services of the “Government Electronic Certification Authority,” as well as the electronic payment and collection operations of the Ministry of Finance related to the system for transferring financial entitlements to government employees, and government electronic checks executed through the unified account at the Central Bank.

Company: International Co For Investment & Development
Symbols: EGS67191C014
Reuters: ICID.CA
Content:
Release from the company concerning the delay in sending the consolidated financial statements for the period on 31/03/2026.
Release from the Company (704 KB)

Under the Patronage of the Prime Minister

Minister of Industry Participates in the Opening of the 32nd Annual International Conference of the Arab Fertilizer Association Under the Theme “Sustainable Environment and Safe Food” and Tours the Accompanying Exhibition

Eng. Khaled Hashem:

The conference is being held at a time when food security, environmental sustainability, and supply chain resilience are becoming increasingly important.
Stable energy supplies to the industrial sector, without interruption or reduction, have contributed to the continuity of production in the fertilizer industry, enabling factories to meet domestic demand and boost Egyptian exports.
Egypt’s chemical and fertilizer exports reached approximately US$9.4 billion in 2025, representing a 7% increase compared to 2024. Italy, Turkey, Brazil, Saudi Arabia, France, and Spain were among the leading importers of the sector’s exports.
The fertilizer industry holds particular importance in light of Egypt’s major national projects, foremost among them the New Delta Project and the Mostaqbal Misr (Future of Egypt) Sustainable Development Project.

Eng. Khaled Hashem, Minister of Industry, participated in the opening of the 32nd Annual International Conference and Exhibition of the Arab Fertilizer Association, held under the patronage of the Prime Minister and under the theme “Sustainable Environment and Safe Food.” The event was attended by Mr. Alaa Farouk, Minister of Agriculture and Land Reclamation (representing Prime Minister Dr. Mostafa Madbouly), Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, Dr. Abdel Wahab Al-Rawad, Chairman of the Arab Fertilizer Association, Chemist Saad Abu Al-Maati, Secretary-General of the Association, Eng. Mohamed Zada, Assistant Minister of Industry for Strategic Industries, along with representatives of government entities, international organizations, and fertilizer-producing companies.

Minister Hashem stated that the conference is among the most prominent specialized events in the fertilizer industry across the Arab region and the Middle East. It brings together decision-makers, experts, producers, investors, and representatives of international institutions, providing an important platform for exchanging expertise and showcasing the latest technical and technological developments in this vital industry.

He noted that the event derives additional significance from the role played by the Arab Fertilizer Association since its establishment in supporting cooperation among companies and institutions operating in the sector, promoting the exchange of expertise and technical and technological knowledge, and contributing to the development of the fertilizer industry and its ability to keep pace with global changes.

The Minister emphasized that the conference is being held at a time when issues of food security, environmental sustainability, and supply chain resilience are gaining increasing importance and have become central to economic development agendas worldwide. In this context, the fertilizer industry stands out as a key industry supporting agricultural production through its role in improving land productivity and enhancing resource-use efficiency, thereby supporting food security efforts and meeting growing food demand.

He added that the industry represents an important link within value chains connected to the agricultural and food sectors, contributing to economic value creation, employment generation, and support for productive and export activities across many Arab countries.

Hashem explained that the fertilizer industry is particularly important in light of Egypt’s efforts to expand cultivated land and increase agricultural production through several major national projects aimed at strengthening food security, foremost among them the New Delta Project and the Mostaqbal Misr Sustainable Development Project.

He noted that fertilizers and agricultural nutrients are among the key inputs required to maximize the benefits of these projects and achieve their targeted production goals. They contribute to improving the efficiency of reclaimed lands, increasing crop productivity, and supporting sustainable agricultural development efforts.

The Minister stressed that integration between the fertilizer industry, agricultural production, and food industries generates added value for the national economy, strengthens local value chains, creates employment opportunities, and enhances the competitiveness of Egyptian products in local, regional, and international markets.

He further highlighted the Egyptian government’s strong commitment to industrial development as one of the primary drivers of sustainable economic growth. In this regard, the Ministry of Industry is implementing a comprehensive strategy aimed at increasing Egypt’s industrial exports to US$100 billion by 2030.

The strategy focuses on attracting global investments associated with technology transfer, localizing and deepening domestic manufacturing, and integrating more effectively into the global economy and international production chains. The Ministry is also working closely with the private sector and relevant stakeholders to improve the industrial business environment, simplify procedures, and enhance services provided to investors, thereby strengthening the growth and expansion of Egyptian industry and reinforcing Egypt’s position as a regional industrial hub capable of accessing global markets.

Hashem pointed out that food industries are among the priority sectors identified in Egypt’s industrial strategy, while the fertilizer industry is classified as a strategic sector, reflecting its importance and strong growth potential. Egypt’s production capabilities, industrial and logistics infrastructure, and strategic geographic location linking regional and global markets all contribute to this potential.

He emphasized that despite challenges in global energy markets resulting from geopolitical tensions in the region, the Egyptian government, through continuous coordination among ministries and relevant authorities and through consultations with investors and manufacturers, has ensured the availability of all energy requirements for the industrial sector. Stable energy supplies have been maintained without interruption or reduction, enabling uninterrupted fertilizer production, meeting domestic demand, and strengthening Egyptian exports.

The Minister stated that Egypt’s exports of chemical products and fertilizers reached approximately US$9.4 billion in 2025, representing a 7% increase over 2024. Italy, Turkey, Brazil, Saudi Arabia, France, and Spain ranked among the leading importers of these products.

He also noted that Egypt holds a prominent position in the global fertilizer market, with fertilizer exports accounting for approximately one-third of the exports of the chemical and fertilizer industries sector. This reflects the strength and competitiveness of Egyptian industry and its ability to access regional and international markets.

Hashem stressed that rapidly evolving global developments require all industrial sectors, including fertilizers, to continue improving production efficiency, environmental performance, and adaptability to emerging regulatory requirements in international markets.

Accordingly, the Ministry of Industry is supporting the transition toward sustainable industry through initiatives aimed at improving energy and resource efficiency, promoting circular economy applications, and encouraging industrial practices that comply with international environmental standards.

The Ministry is also closely monitoring developments related to the European Union’s Carbon Border Adjustment Mechanism (CBAM) and is coordinating with stakeholders and the private sector to enhance the readiness of Egyptian industry to meet these new requirements while maintaining competitiveness in export markets.

In addition, the Ministry continues its efforts to develop technical education and vocational training systems and align them with industry needs, thereby preparing qualified technical personnel capable of handling advanced technologies, digital transformation requirements, and the rapid developments shaping the global manufacturing environment.

The Minister added that the challenges and opportunities facing the fertilizer industry today underscore the importance of strengthening cooperation among governments, the private sector, and regional and international institutions, exchanging expertise and best practices, and jointly developing solutions that support the sustainability of the industry and enhance its role in economic development and food security.

He expressed his hope that the discussions and technical sessions included in the conference would generate practical ideas and recommendations that support the future of the fertilizer industry and strengthen its ability to adapt to global changes and capitalize on emerging opportunities in the years ahead.

On the sidelines of the opening ceremony, the ministers toured the accompanying exhibition, which featured a large number of fertilizer-producing companies, technology licensors, equipment and spare parts suppliers, chemical suppliers, and providers of catalysts and supporting materials. The exhibition offers valuable opportunities for networking, partnership-building, and showcasing the latest solutions and technologies that support the advancement of the fertilizer industry.

Madbouly Directs Swift Allocation of Additional Funds to Develop and Improve the Efficiency of the Waste Management System in Giza Governorate

Prime Minister Dr. Mostafa Madbouly held a meeting to follow up on the implementation status of development and service projects in Giza Governorate. The meeting was attended by Dr. Manal Awad, Minister of Local Development and Environment, and Dr. Ahmed Al-Ansari, Governor of Giza.

During the meeting, Dr. Ahmed Al-Ansari, Governor of Giza, reviewed the governorate's achievements over the past 120 days. He explained that 274 administrative decisions had been issued to regulate workflow and improve performance across various governorate departments. In addition, 17 circulars were issued to standardize organizational and administrative procedures. He also noted the implementation of numerous daytime and nighttime field visits and inspections to monitor the regularity of work at various sites, as well as the holding of 48 meetings with executive bodies to enhance coordination and integration between the governorate and relevant authorities.

The Governor of Giza also reviewed the implementation status of the development and revitalization plan for the Nazlet El-Samman and Ard Aziz Ezzat areas, outlining the achieved progress, current implementation phases, and the targeted timeline for completing the two projects. This aims to improve the urban environment and enhance the level of services provided to citizens.

Regarding the unified investment plan for the 2025/2026 fiscal year, Dr. Ahmed El-Ansary highlighted the completed projects. These included the completion of roads and utilities in the Abu Rawash industrial zone, the development of the area surrounding the Grand Egyptian Museum, road paving works, the upgrading of administrative buildings, improvements to the traffic system, and the implementation of local transportation, road, and transit projects. He also mentioned environmental improvement projects and local economic development programs.

The presentation also covered the map of future investment opportunities in the governorate, which includes a number of promising opportunities in the industrial, agricultural, tourism, service, and commercial sectors. This supports efforts to attract investments, boost economic activity, and create job opportunities. During the meeting, the governor reviewed the status of the regularization and reconciliation process for certain building violations. He explained that from May 2024 to mid-June 2026, 206,305 reconciliation requests were submitted, and 201,825 of these requests were processed, representing a completion rate exceeding 97%. Work continues to finalize the remaining requests.

In the same context, the indicators for the public establishment licensing system, in accordance with the provisions of Law No. 154 of 2019, were reviewed. The total number of applications submitted from December 2022 to June 2026 reached approximately 18,966 for permanent and temporary licenses. The governorate continues its efforts to increase completion rates and streamline procedures for citizens.

Dr. Ahmed Al-Ansari also reviewed the most prominent results of the presidential initiative "Decent Life" in the targeted centers and villages within the governorate. He explained that approximately 800 projects have been completed, reflecting the scale of efforts made to improve the level of services and infrastructure and enhance the quality of life for citizens. Regarding the issue of cleanliness and waste management, the Governor of Giza pointed to the implementation of an integrated system based on digital solutions and modern infrastructure to ensure sustainability and improve the efficiency of waste management. He explained that a sanitary landfill in Shubramant City, covering 81 acres, has been put into operation for the safe disposal of waste in accordance with environmental standards. In addition, a contract has been signed with a specialized waste recycling company, and the system for collecting and removing solid waste has been digitized to tighten control over collection operations and prevent indiscriminate dumping.

The Governor added that there are major efforts underway to transform the solid waste management system into sustainable development and economic projects. These efforts include significant investments in waste treatment and conversion into energy and the production of environmentally friendly materials, which directly contributes to improving the urban and environmental landscape of tourist destinations and areas. The meeting also reviewed a project aimed at adding 500 new hotel rooms and constructing 1,000 luxury hotel apartments, as well as establishing an integrated conference and events center with a capacity of up to 5,000 people. This will enhance the area's position as a hub for business tourism and conferences, especially given the project's prime location near the Grand Egyptian Museum.

At the conclusion of the meeting, the Prime Minister directed the swift allocation of additional funds to develop and improve the efficiency of the sanitation system in Giza Governorate, while intensifying efforts to enhance the level of services provided to citizens. He also tasked the relevant authorities with immediately commencing the implementation of several vital infrastructure projects, according to specific timelines, to contribute to improving the quality of services, achieving the governorate's development goals, and enhancing the level of services provided to citizens.

Company Name : Upper Egypt Flour Mills
ISIN Code : EGS30451C016
Reuters Code : UEFM.CA
Content :
With reference to the announcement published on the trading screens on 30/06/2025 regarding the decisions of the company's Board of Directors at its meeting held on 29/06/2025 an subsequent release was issued.

Release from the Company (275 KB)

Minister of Agriculture Calls for Enhanced Joint Agricultural Investment in Africa at Fertilizer Conference

• Minister of Agriculture: Food security is a major challenge that requires strengthening local production and improving resource efficiency.
• Alaa Farouk: We remain committed to developing the agricultural sector as a cornerstone of the food security system.
• Minister of Agriculture: Egypt has taken serious steps in producing environmentally friendly biofertilizers and organic fertilizers, and traditional approaches must be reconsidered in favor of more innovative practices.
• Farouk: Achieving food security requires continuous efforts and responsible development of the fertilizer industry.

On behalf of Prime Minister Dr. Mostafa Madbouly, Mr. Alaa Farouk, Minister of Agriculture and Land Reclamation, inaugurated the 32nd Annual International Fertilizer Conference and Exhibition, organized by the Arab Fertilizer Association under the theme “Sustainable Environment and Safe Food.” The event was attended by Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, and Eng. Khaled Hashem, Minister of Industry.

The opening ceremony was also attended by Eng. Abdel Wahab Al-Rawad, Chairman of the Arab Fertilizer Association, Eng. Saad Abu Al-Maati, Secretary-General of the Association, members of the Association’s Board of Directors, heads of Arab and international companies and organizations, and senior officials from the Ministry of Agriculture.

At the beginning of his speech, Minister Farouk conveyed the greetings and appreciation of Prime Minister Dr. Mostafa Madbouly to all participants and welcomed them to the event. He highlighted the importance of this gathering, which brings together a distinguished group of leaders, experts, and representatives of the fertilizer industry from Arab countries and around the world. The conference serves as a high-level platform that reflects the importance of cooperation, knowledge exchange, and the unification of visions regarding the future of the fertilizer industry and its strategic role in supporting food security and sustainable development.

Farouk expressed his appreciation to the Arab Fertilizer Association for its continuous efforts in organizing this important event, which has become a leading platform for dialogue and knowledge exchange and a key driver for the development of both the fertilizer and agricultural sectors at the regional and international levels. The conference hosts approximately 1,000 participants representing around 100 countries.

The Minister emphasized that the agricultural sector is currently facing rapidly evolving and increasingly complex challenges that require new perspectives and more effective and sustainable responses. He pointed out that climate change, particularly water scarcity, along with challenges related to supply chains, logistics services, and fluctuations in global markets, are placing significant pressure on this vital sector.

Farouk added that economic and social factors, coupled with rapid population growth and the continuous rise in food demand, further complicate the agricultural landscape. Nevertheless, agriculture remains the cornerstone of sustainable development and food security, underscoring the importance of uniting efforts and developing innovative solutions to ensure the sustainability of the sector and a more prosperous future.

The Minister stressed the necessity of re-evaluating traditional agricultural practices and transitioning toward more innovative approaches that ensure efficient resource utilization while preserving the environment. He noted that the fertilizer industry is a key pillar in supporting agricultural production, improving soil fertility, and increasing crop productivity. Arab fertilizer producers have successfully established a strategic role for the industry at both regional and global levels.

He further stated that, in line with global trends and the conference theme, Egypt views sustainability not merely as a slogan but as a practical reality. The country has taken concrete and significant steps toward producing biofertilizers, organic fertilizers, and environmentally friendly agricultural products. Through these efforts, Egypt aims to lead the region’s green transition and ensure that Arab exports comply with current and future international environmental standards, providing a genuine model for safe food and a sustainable environment.

Farouk explained that food security remains a major challenge for the Arab region and the world as a whole, requiring urgent action to enhance local agricultural production and improve the efficiency of natural resource utilization. He reaffirmed Egypt’s commitment to developing the agricultural sector as a fundamental pillar of its food security strategy.

The Minister also highlighted Egypt’s unprecedented progress in agricultural development and national agricultural projects aimed at increasing production. He stressed the importance of promoting joint agricultural investment across Africa, given the continent’s vast natural resources and extensive arable land, which offer promising opportunities for cooperation, development, and prosperity for African peoples and the wider global community.

He noted that achieving food security goals across the region requires sustained efforts and close cooperation among all stakeholders. This includes adopting sustainable agricultural practices, promoting the responsible use of fertilizers, developing agricultural infrastructure, and enhancing farmers’ capacities to secure a sustainable food future.

Following the opening session, the ministers toured the international exhibition accompanying the conference, which showcased the latest global technologies and innovations in the fertilizer industry and agricultural production inputs. The exhibition featured broad participation from leading Egyptian, Arab, and international companies.

During the tour, the ministers reviewed the latest advances in the production of nitrogen, phosphate, and potash fertilizers, as well as modern technologies for manufacturing biofertilizers, organic fertilizers, and specialized environmentally friendly plant nutrients.

Minister Farouk also received detailed briefings from company executives and representatives regarding expansion plans, the adoption of clean energy sources and green hydrogen in manufacturing processes, and ongoing efforts to reduce carbon emissions in accordance with current and future international environmental standards.

Additionally, he engaged in discussions with representatives of Arab and international organizations to explore opportunities for enhanced cooperation, technology transfer, and the attraction of further foreign investment into the fertilizer and petrochemical sectors, which are considered fundamental pillars for supporting agricultural production and achieving sustainable food security.

- Raddad: Egypt possesses a skilled and trained workforce capable of meeting the needs of foreign labor markets.

Minister of Labor Hassan Raddad received the German Ambassador to Cairo, Jürgen Schulz, at his office in the New Administrative Capital on Tuesday. They discussed ways to enhance cooperation and coordination on various issues of mutual interest, particularly in the areas of labor mobility, vocational training, knowledge exchange, and opening new opportunities for young Egyptians to work abroad through legal channels. The two sides discussed the possibility of organizing joint activities and events on a regular basis to raise awareness about working abroad through official channels and to highlight the skills required in the German labor market. They also discussed strengthening cooperation in vocational training, knowledge exchange, and sharing successful experiences, as well as connecting with German companies operating in Egypt and organizing seminars and informational meetings to raise awareness of the provisions of the new labor law. This law is considered one of the modern pieces of legislation aimed at achieving a balance between the two parties in the production process, encouraging investment, and creating a decent and safe work environment, thus contributing to creating more job opportunities for young Egyptians.

During the meeting, Minister Hassan Radad affirmed that Egyptian-German relations are witnessing continuous development at all levels, thanks to the support of the political leadership in both countries. He noted the Ministry of Labor's keenness to expand cooperation with Germany in ways that serve mutual interests and enhance employment and development opportunities. The Minister explained that Egypt possesses a large pool of skilled, trained, and qualified workers, meeting international standards, which enables them to meet the needs of foreign labor markets. He emphasized the importance of ongoing coordination to identify the professions and specializations required in the German labor market and to prepare and qualify young Egyptians for these jobs according to the actual needs of that market. The Minister pointed out that the Egyptian state, in accordance with the directives of the political leadership, is continuing its efforts to open new foreign labor markets for young Egyptians through legitimate and secure channels, ensuring the protection of workers' rights and providing them with decent job opportunities. He stressed the importance of intensifying awareness campaigns to inform the public about available job opportunities abroad and the legal and organized mechanisms for accessing them.

For his part, the German Ambassador to Cairo, Jürgen Schulz, affirmed his country's keenness to enhance cooperation with Egypt in various fields, noting that Egypt is an important strategic partner for Germany in the region, which reflects the strength and solidity of the economic relations between the two countries. The German Ambassador stressed the importance of continuing coordination with the Egyptian Ministry of Labor on training, employment and labor mobility issues, in a way that serves the interests of both countries and contributes to providing quality job opportunities for Egyptian youth, especially in sectors that are witnessing increasing demand within the German labor market.

Dr. Ahmed Rostom: We are adopting a new approach by presenting economic growth estimates in the form of "flexible ranges" that reflect global uncertainties.

Work has begun on formulating "Egypt Vision 2040" and developing a five-year program that outlines the structural directions of the national economy.

World Bank Regional Director: We are committed to supporting Egypt's development efforts and developing data governance and methodologies for measuring poverty and inflation.

Dr. Ahmed Rostom, Minister of Planning and Economic Development, met with a high-level delegation from the World Bank Group, including Mr. Sandeep Mahajan, Regional Director for Prosperity Practices in the Middle East and North Africa, Mr. Stéphane Gimbert, World Bank Country Director for Egypt, Yemen, and Djibouti, and a number of other bank officials, to discuss ways to enhance joint cooperation in the areas of economic analysis, supporting evidence-based and data-driven policies, and following up on a number of priority issues.

At the outset of the meeting, Dr. Ahmed Rostom welcomed the World Bank delegation, praising the existing cooperation between the two sides on a number of vital issues. He emphasized his appreciation for the technical support provided by the World Bank in the areas of economic analysis, public finance audits, poverty studies, and the preparation of various statistical surveys.

The Minister of Planning and Economic Development pointed to the significant importance of surveys and databases in supporting the state's efforts during times of crisis. He explained that the results of these surveys effectively contributed to supporting crisis management efforts during the COVID-19 pandemic and were highly valued and trusted by the Economic Ministerial Group and the Cabinet's Crisis Management Committee.

Dr. Ahmed Rostom stressed the importance of maximizing the use of available databases by developing a unified index of long-term datasets. This index should include labor market indicators, household income and expenditure surveys, financial data, the economic census, and establishment surveys, thus supporting more in-depth analyses that contribute to formulating evidence-based policies and reforms. The Minister of Planning and Economic Development revealed that the ministry is currently finalizing the update of Egypt's Vision 2030 and beginning to formulate the general framework for "Egypt's Vision 2040." This is being done alongside the preparation of a comprehensive economic program that will define the strategic directions for the next three to five years. He emphasized the importance of involving national partners and international financial institutions in these efforts.

He added that the socio-economic databases and censuses, spanning nearly two decades, represent a crucial opportunity to conduct in-depth structural analyses. These analyses aim to examine the relationship between the momentum of economic reforms and development and employment rates, as well as to measure the impact of these reforms on the growth of private sector activity.

Dr. Ahmed Rostom pointed out that the government is adopting a new and scientific approach to preparing economic forecasts by presenting growth estimates in the form of "ranges" that reflect the increasing levels of global uncertainty. He explained that this approach enhances the credibility of forecasts and supports a genuine shift towards formulating documented policies based on accurate evidence. Regarding ways to develop the national data system, Dr. Ahmed Rostom emphasized the importance of joint efforts to establish a comprehensive and up-to-date national database, similar to the World Development Indicators (WDI). This would contribute to making data available to planners and decision-makers in an organized and readily accessible digital format.

The meeting also addressed the latest developments in joint work on poverty, including modern measurement methodologies, multidimensional poverty indicators, and utilizing telephone surveys and simulations to provide more up-to-date and accurate estimates. The two sides also discussed the importance of developing methodologies for measuring and analyzing inflation, updating the relative weights of the basket of goods and services, and studying complementary indicators to accurately measure the impact of administrative price adjustments on overall inflation rates.

For his part, Mr. Sandeep Mahajan commended the fruitful and ongoing cooperation with the Ministry of Planning and Economic Development, affirming the World Bank's full commitment to continuing its support for the Egyptian government's efforts in economic analysis and enhancing data access and use. This support aims to contribute to building an integrated and sustainable system for evidence-based development policymaking.

Minister of Petroleum and Mineral Resources, Karim Badawi, affirmed that the ministry has successfully overcome the challenges of natural gas supply and secured the needs of the local market and various industrial sectors. This has contributed to restoring efficient operating and production rates. He emphasized the continued efforts to increase local production, enhance energy security, and support strategic industries, particularly the fertilizer industry.

During his speech at the opening of the annual international forum of the Arab Fertilizer Association, in the presence of the Minister of Agriculture and Land Reclamation, Dr. Alaa Farouk, and the Minister of Industry, Eng. Khaled Hashem, the minister explained that the ministry is committed to providing all the natural gas needs of the fertilizer industry, as it is a key input for production. This commitment stems from the strategic importance of this industry and its vital role in supporting food security, promoting economic growth, and increasing exports.

He pointed out that the ministry has worked to meet the industry's gas needs through two main approaches. The first is stimulating investments in exploration and development activities to halt the natural decline in production and increase domestic natural gas production rates. The second is strengthening infrastructure capabilities by providing the necessary regasification vessels to receive liquefied natural gas and supply additional quantities to the local market. This has contributed to securing the needs of various economic sectors and completely overcoming supply challenges. He added that the consistent supply of natural gas has directly impacted the performance of the fertilizer industry, with factory utilization rates exceeding 90% last year. Urea fertilizer exports reached approximately $9.4 billion in 2025, achieving an annual growth rate of 7.4%. This reflects the Egyptian industry's ability to generate high added value and increase its contribution to supporting the national economy and generating foreign currency.

The Minister affirmed that Egypt possesses strong assets that qualify it to enhance its position as a regional hub for fertilizer production and export, particularly in the phosphate fertilizer sector. This is due to its promising phosphate reserves exceeding 3 billion tons, placing it third globally in terms of reserve size.

He explained that the Ministry's strategy aims to maximize the added value of mineral resources through expanding downstream industries and projects for the production of phosphate fertilizers and phosphoric acid. This will contribute to achieving maximum economic benefit from natural resources and increasing export revenues. He highlighted several ongoing projects in this area, including the phosphoric acid complex in the New Valley and the phosphate fertilizer complex in Ain Sokhna, in partnership with Indorama. He also mentioned partnerships with the national private sector, represented by the PolyServe and Elsewedy groups, as well as collaborations with specialized international companies. This reflects the attractiveness of the mining sector and its related industries to both local and foreign investment.

The Minister also commended the ongoing cooperation and coordination with the Ministry of Electricity and Renewable Energy, led by Dr. Mahmoud Esmat, and the expansion of renewable energy projects. This expansion contributes to enhancing the efficiency of the energy system and freeing up larger quantities of natural gas for value-added industries, particularly the fertilizer industry.

In closing, the Minister emphasized that energy security and maximizing the utilization of mineral resources are fundamental pillars for supporting the fertilizer industry. He noted that fertilizers are a strategic industry closely linked to food security and sustainable economic development, contributing to increased exports, higher added value, and solidifying Egypt's position as a regional hub for energy and related industries.

Youm7-

Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS) issued a press release on Tuesday regarding the 2026 World Day of Family Remittances, which was adopted by the United Nations General Assembly at its 72nd session in 2018.

Egypt Ranks Seventh Globally

Data from the International Organization for Migration’s (IOM) 2026 International Migration Report revealed that Egypt ranked seventh globally in terms of remittances received in 2024, with $29.56 billion. This placed it after India ($137.67 billion), Mexico ($67.64 billion), the Philippines ($40.28 billion), France ($38.78 billion), Pakistan ($34.91 billion), and China ($31.41 billion).

[Note: The sentence about the International Organization for Migration’s 2026 report appears to be incomplete and unrelated to the preceding text.] Migrants Abroad

The 2026 International Migration Report indicates that the number of international migrants worldwide reached 304 million, representing 3.7% of the global population of over 8 billion. This equates to approximately one migrant for every 27 people worldwide.

Remittances to low- and middle-income countries totaled US$684 billion in 2024, with 50% of global remittances sent via digital channels. There are 91 million women living and working outside their countries of origin from the least developed regions.

Youm7-

Minister of Industry Participates in the Opening of the 32nd Annual International Conference and Exhibition of the Arab Fertilizer Association

Eng. Khaled Hashem, Minister of Industry, participated in the opening ceremony of the 32nd Annual International Conference and Exhibition of the Arab Fertilizer Association, held under the patronage of the Prime Minister and themed "Sustainable Environment and Safe Food."

The event was attended by Alaa Farouk, Minister of Agriculture and Land Reclamation (representing Prime Minister Dr. Mostafa Madbouly), Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, Dr. Abdel Wahab Al-Rawad, Chairman of the Arab Fertilizer Association, Chemist Saad Abu Al-Maati, Secretary-General of the Association, Eng. Mohamed Zada, Assistant Minister of Industry for Strategic Industries, as well as representatives of government entities, international organizations, and fertilizer-producing companies.

A Key Industry Event

Minister Khaled Hashem stated that the conference is one of the most prominent specialized events in the fertilizer industry across the Arab region and the Middle East. It brings together leading policymakers, experts, producers, investors, and representatives of international institutions, providing an important platform for exchanging expertise and showcasing the latest technical and technological developments in this vital industry.

He noted that the event is particularly significant given the role played by the Arab Fertilizer Association since its establishment in promoting cooperation among companies and institutions operating in the sector and enhancing the exchange of technical and technological knowledge, thereby supporting the development of the fertilizer industry and strengthening its ability to adapt to global changes.

Food Security and Sustainable Development

The minister emphasized that the conference is being held at a time when issues such as food security, environmental sustainability, and supply chain resilience have become central to economic development agendas worldwide.

In this context, the fertilizer industry stands out as one of the fundamental industries supporting agricultural production, given its important role in improving agricultural productivity and enhancing resource-use efficiency. This contributes to food security efforts and helps meet the growing global demand for food.

He pointed out that the fertilizer industry represents a critical link in the value chains associated with the agricultural and food sectors and contributes to economic value creation, job generation, and support for production and export activities across many Arab countries.

Supporting Egypt’s Agricultural Expansion

Hashem explained that the fertilizer industry holds particular importance in light of Egypt’s efforts to expand cultivated land and increase agricultural production through several major national projects aimed at enhancing food security, including:

The New Delta Project
The Mostaqbal Misr (Future of Egypt) Sustainable Development Project

He stressed that fertilizers and agricultural nutrients are among the key inputs required to maximize the benefits of these projects and achieve their targeted production goals. They contribute to improving the productivity of reclaimed land, enhancing crop yields, and supporting sustainable agricultural development.

He added that integration between the fertilizer industry, agricultural production, and food industries generates added value for the national economy, strengthens local value chains, increases employment opportunities, and enhances the competitiveness of Egyptian products in local, regional, and international markets.

Increasing Sector Exports

The minister highlighted that the Egyptian government places great importance on industrial development as one of the main drivers of sustainable economic growth.

Accordingly, the Ministry of Industry is implementing a comprehensive strategy to increase Egypt’s industrial exports to $100 billion by 2030, focusing on:

Attracting global investments associated with technology transfer
Localizing and deepening domestic manufacturing
Integrating with the global economy and international production chains

The ministry is also working in partnership with the private sector and relevant stakeholders to improve the industrial business environment, streamline procedures, and enhance services provided to investors, thereby supporting industrial growth and strengthening Egypt’s position as a regional manufacturing hub with access to global markets.

Hashem noted that food industries are among the top priority sectors identified in Egypt’s industrial strategy, while the fertilizer industry is classified as a strategic industry. This reflects the sector’s importance and growth potential, supported by Egypt’s production capabilities, industrial and logistics infrastructure, and strategic geographic location linking regional and global markets.

Ensuring Energy Supply for Industry

The minister emphasized that despite challenges in global energy markets resulting from geopolitical tensions in the region, the Egyptian government has worked through continuous coordination among ministries and relevant authorities, along with consultations with investors and manufacturers, to ensure the uninterrupted supply of energy needed by the industrial sector.

These efforts helped maintain fertilizer production, enabling factories to meet domestic market needs and boost Egyptian exports.

Fertilizer and Chemical Exports Reach $9.4 Billion

Hashem stated that Egypt’s exports of chemicals and fertilizers reached approximately $9.4 billion in 2025, representing a 7% increase compared to 2024.

Among the leading importers of Egyptian chemical and fertilizer products were:

Italy
Turkey
Brazil
Saudi Arabia
France
Spain

He added that Egypt holds a prominent position in the global fertilizer market, with fertilizer exports accounting for approximately one-third of total chemical and fertilizer sector exports. This demonstrates the strong standing of Egyptian industry in this strategic sector and its ability to access regional and international markets.

Sustainable Industrial Production

The minister stressed that rapid global changes require all industrial sectors, including fertilizers, to continue improving production efficiency, environmental performance, and adaptability to new regulatory requirements in international markets.

To this end, the Ministry of Industry is supporting efforts to:

Transition toward sustainable manufacturing
Improve energy and resource efficiency
Promote circular economy practices
Adopt industrial practices aligned with international environmental standards

The ministry is also closely monitoring developments related to the European Union's Carbon Border Adjustment Mechanism (CBAM) and is working with relevant stakeholders and the private sector to enhance the preparedness of Egyptian industry to comply with these requirements while maintaining competitiveness in export markets.

In addition, the ministry continues to develop technical education and vocational training systems and align them with industrial needs, helping prepare a skilled workforce capable of dealing with modern technologies, digital transformation requirements, and the rapidly evolving global manufacturing environment.

The ministry is also promoting industrial innovation and encouraging investment in enabling and feeder industries to support sustainable industrial development objectives.

Importance of Cooperation

Hashem concluded by stating that the challenges and opportunities facing the fertilizer industry today underscore the importance of strengthening cooperation among governments, the private sector, and regional and international institutions. He emphasized the need to exchange expertise and best practices and to work collectively on developing solutions that support the sustainability of the industry and enhance its role in economic development and food security.

He expressed hope that the conference’s discussions and technical sessions would generate practical ideas and visions that contribute to the future development of the fertilizer industry and enhance its ability to adapt to global changes and capitalize on emerging opportunities in the coming years.

Exhibition Tour

On the sidelines of the opening ceremony, the ministers toured the exhibition accompanying the conference, which featured a large number of fertilizer producers, technology licensors, equipment and spare parts suppliers, chemical suppliers, and providers of industrial additives.

The exhibition offered valuable opportunities for networking, partnership building, and showcasing the latest solutions and technologies supporting the development of the fertilizer industry.

According to the letter received from the MCDR on 15/06/2026 by the periodical partial redemption (installment no. 13) for the listed bonds of EFG Hermes Securitization The Third Issuance - Third Program Tranche C November 2029 Fixed Return.
The total listed value of the bonds after the partial redemption becomes EGP 135,674,000.00 distributed over 1,784,250 bonds at a par value of EGP 76.03979. These modifications will be applied to EGX database effective 17/06/2026 trading session. This bond tranche has been locally rated by MERIS As (A) ، At a fixed annual return rate of 16.10% to be paid after 4 months for the first coupon then will be paid every 3 months then will be paid monthly starting from the 14th month (January 2024).
ISIN Code: EGB69561S326

Minister of Investment: Foreign Trade Information Portal Opens New Horizons for Egyptian Exporters and Enhances Access of National Exports to Global Markets

Prime Minister’s Assistant: The New Platform Integrates Local and International Databases into a Single Window, Enabling Investors to Monitor Global Demand for Egyptian Products

Today, Prime Minister Dr. Mostafa Madbouly attended the launch event of the Foreign Trade Information Portal, organized by the Cabinet's Information and Decision Support Center (IDSC) at its headquarters in the New Administrative Capital. The event marked the inauguration of the new portal, developed by the center in cooperation with the Ministry of Investment and Foreign Trade, as Egypt’s largest integrated national platform for foreign trade information.

The event was attended by Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade; Dr. Osama El-Gohary, Assistant to the Prime Minister and Chairman of the Information and Decision Support Center; Dr. Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI); Eng. Essam El-Naggar, Chairman of the General Organization for Export and Import Control; Ambassador Alaa El-Beili, Chairman of the General Authority for Exhibitions and Conferences; and Mr. Ahmed El-Wakil, President of the Federation of Egyptian Chambers of Commerce.

The event also featured participation from members of parliament, numerous business leaders, investors, exporters, representatives of export councils, university professors, specialized experts, and representatives of the United Nations Industrial Development Organization (UNIDO).

During the event, Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, expressed his pleasure at participating in the launch of this important project, which represents cooperation between the Ministry of Investment and Foreign Trade and the Cabinet Information Center. He noted that the project is the culmination of a long journey that began with efforts led by former Minister of Investment Eng. Hassan El-Khatib, whose work was continued until the platform was completed and officially launched today. He extended his gratitude to El-Khatib for his contributions.

Dr. Farid emphasized that international trade has become more complex and competitive than ever before, and that the success of Egyptian exporters requires a precise understanding of global demand trends and market access requirements. This, he said, necessitates the use of modern, data-driven tools that support decision-making and enhance competitiveness.

The minister added that the Foreign Trade Information Portal provides exporters with an integrated database containing more than 60 million data records from multiple national and international sources, including the World Trade Organization (WTO), the World Bank, and the International Trade Centre (ITC). This enables exporters to identify promising export opportunities and analyze target markets more effectively.

He further explained that the platform covers approximately 6,650 tariff lines according to the HS Code system and provides detailed data on exports and imports across products, sectors, and markets. The portal’s primary objective is to equip Egyptian exporters with modern competitive tools by providing the information and analytical capabilities needed to gain deeper market insights, identify suitable export opportunities, and expand into foreign markets based on scientific and data-driven approaches that support business growth and strengthen Egyptian companies’ ability to enter international markets.

Dr. Farid noted that the portal is part of a broader digital transformation plan being implemented by the ministry to improve the business environment and enhance services provided to investors and exporters. This includes launching a range of integrated digital platforms and services aimed at increasing procedural efficiency and facilitating access to information in line with international best practices.

He added that the launch of the Foreign Trade Information Portal complements the ministry’s efforts to build a comprehensive digital ecosystem for the business community. These efforts include launching the ministry’s new website as a unified gateway that provides access to various current and future digital services and platforms, making it easier for investors and exporters to obtain the information and services they need to conduct business efficiently.

The Minister of Investment and Foreign Trade stressed that providing accurate and easily accessible data is one of the key pillars for enhancing the competitiveness of Egyptian exports and opening new markets for national products. This supports the state’s objectives of increasing exports, achieving sustainable economic growth, and strengthening Egypt’s position as a regional hub for trade and investment through advanced digital tools that help investors and exporters make more effective and informed decisions.

For his part, Dr. Osama El-Gohary, Assistant to the Prime Minister and Chairman of the Information and Decision Support Center, delivered a presentation on the Foreign Trade Information Portal, describing it as the country’s primary reference for trade and industrial data and analysis.

He explained that the portal’s significance lies in its role as a unified platform that integrates local and international databases into a single system, allowing manufacturers, investors, and exporters immediate access to information and analysis on global markets through one interface. He noted that no other platform currently offers such a vast volume of data, exceeding 60 million records.

Dr. El-Gohary stated that this extensive database provides a comprehensive overview of each customs tariff line among the approximately 6,650 tariff categories, enabling users to track changes and trends in global demand, compare countries and economic blocs, and monitor non-tariff barriers. These barriers have become a major determinant of market access for national products, and studying them carefully is essential for designing flexible export policies capable of penetrating international markets.

He added that the portal provides updated monthly data on Egyptian exports and imports, enabling the business community to closely monitor global demand for Egyptian products, identify import gaps and market surges in international markets, and guide domestic investments toward expanding manufacturing capacity and filling those gaps in a timely manner.

Finally, he highlighted the platform’s future development paths, which include integrating trade data with databases maintained by the Ministry of Industry, the General Authority for Industrial Development, and the Ministry of Investment and Foreign Trade. This integration will provide exporters with deeper insights into industrial and investment incentives across different sectors and help them prepare detailed market studies on target markets and key competitors.

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Ahram Online-


Egypt is accelerating efforts to overhaul its investment ecosystem through the implementation of its National Foreign Direct Investment (FDI) Strategy, developed in cooperation with the World Bank, as the government seeks to attract higher-quality foreign investment and boost private-sector-led growth, according to a joint statement released on Monday.

The joint statement was released by the ministries of investment, industry, finance, labour, tourism, and planning.

Egypt’s FDI strategy aims to shift the country’s reliance towards sectors with high productivity rates to support the national economy, diversify the country’s economic growth resources, increase FDI inflows, create job opportunities, and improve the investment climate.

Ministers of investment, industry, finance, planning, labour, and tourism met with a high-level delegation from the World Bank (WB) to discuss moving from strategic planning to implementing the strategy and improving coordination between economic and sectoral policies to enhance the competitiveness of Egypt’s economy. No timeline has been disclosed yet.

The strategy has reached a phase in which Egypt and the WB are working to identify and assess potential priority sectors that need policy improvements to attract foreign investment. The sectors are being selected based on their added value and export potential.

This comes as Egypt projects its total investments will reach EGP 3.7 trillion in FY 2026/2027, which starts on 1 July, and expects its investment-to-GDP ratio to reach 17 percent, rising to 20 percent by the end of the medium-term plan.

Moreover, the WB will support the implementation of the strategy through economic data analysis, global value chain studies, and by providing advice to the Egyptian government, the private sector, and international organizations.

Both sides will also focus on integrating industrial and investment policies, building institutional capacity, developing data systems, targeted investment promotion, and linking investment to structural reforms.

More meetings will be held in the near future to review the sectors, explore implementation mechanisms, and examine strategic opportunities.

Egypt has been looking to expand cooperation with the World Bank and the International Finance Corporation (IFC) in strategic sectors, utilizing the benefits of its $7 billion 2023–2027 strategic partnership framework with the WB, which focuses on sustainable growth.

Due to the ongoing conflict in the region, the country was also in talks this year with the WB and the IFC to boost competitiveness and address structural challenges in the industrial sector to advance private-sector-led growth.

This comes alongside the new $1 billion financing package the WB approved for Egypt in May to support job creation, strengthen macroeconomic stability, and enhance the economy.

Earlier this year, the World Bank maintained its projections for Egypt’s real GDP growth at 4.3 percent for the current FY2025/2026, which ends on 30 June, and 4.8 percent for FY2026/2027.

Meanwhile, as of the first quarter of 2026, Egypt estimated its GDP growth at around 4.9 percent and forecast it would reach 4.9 percent in FY2025/2026 and 4.8 percent in FY2026/2027.

It is worth noting that Egypt ranked ninth globally for FDI inflows in 2024, attracting about $47 billion, up from 32nd place in 2023.

In the first quarter of FY2025/26, net FDI inflows reached roughly $2.4 billion. During the first half of the same fiscal year, Egypt’s capital and financial account recorded a net inflow of $6.5 billion, while FDI inflows reached $9.3 billion.

Business Today-


Remittances from Egyptians working abroad continued their upward trend, rising by 33.2% during the July–April period of FY2025/2026 to reach a record $39.2 billion, compared to around $29.4 billion during the same period of FY2024/2025, according to a report released by the Central Bank of Egypt (CBE).

On a monthly basis, remittances increased by 44% in April 2026, recording around $4.3 billion, compared to approximately $3 billion in April 2025.

Earlier in June, CBE announced that remittances from Egyptians working abroad recorded a strong increase during the first nine months of FY2025/2026, reaching their highest level for the period.

Remittances rose by 32% between July and March of FY2025/2026, reaching around $34.9 billion, compared to nearly $26.4 billion during the same period of FY2024/2025.

Remittances from Egyptians abroad remain one of the key pillars supporting the Central Bank of Egypt’s foreign currency reserves.

Their importance goes beyond regular financial inflows. These transfers act as a financial safety net that directly supports foreign exchange market stability, helps meet the country’s financing needs for imports of strategic goods and raw materials, and plays a critical role in meeting international obligations while reducing the current account deficit.

Business Today-


The European Union (EU) is providing €690 million to upgrade Egypt’s electricity transmission network and integrate 22 GW of new renewable energy capacity into the national grid by 2030, according to a statement released by EU.

The agreement includes a €600 million loan from EIB Global, alongside €90 million in grants from the European Commission. It marks the first concrete project under T-Med, the Trans-Mediterranean Renewable Energy and Clean-Tech Cooperation Initiative, which the EU has positioned as the energy flagship of its new Pact for the Mediterranean.

EETC will use the financing to build new substations and high-voltage transmission lines that will transport solar and wind power from the Red Sea and Gulf of Suez areas to the national grid.

Badr Abdelatty, Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates, said the agreement reflects the strength of Egypt’s partnership with the European Union and their shared commitment to advancing the green transition.

He added that cooperation with the EIB and the EU marks an important step toward modernizing Egypt’s electricity network, strengthening energy security, and creating new opportunities for sustainable growth.

EU funding will cover 44% of the total program cost, while EETC will finance the remaining amount from its own resources, the statement noted.

The EIB-supported phase is expected to run from 2027 to 2030, with the Egyptian government acting as the borrower through the Central Bank of Egypt.

The financing package was announced alongside the EU-Egypt Association Council meeting in Luxembourg, the first such meeting since Egypt and the EU signed their Strategic and Comprehensive Partnership in 2024.

EU High Representative Kaja Kallas said the discussions focused on six strategic priorities: trade, investment, energy, green transition, migration, and people-to-people relations, according to a separate statement.

T-Med is part of the EU’s Global Gateway strategy and serves as the bloc’s energy cooperation arm in the Mediterranean. Global Gateway aims to mobilize up to €300 billion in infrastructure financing worldwide by 2027.

In 2024, the EU pledged a €7.4 billion package of loans, grants, and investments to Egypt through 2027, alongside the Strategic and Comprehensive Partnership.

The latest grid financing package is the largest concrete clean energy investment announced since that framework was signed. European institutions have continued to play a key role in supporting Egypt’s power grid, with the European Bank for Reconstruction and Development committing €200 million last year to help finance grid upgrades.

Business Today-


Egypt's net foreign assets rose to around $15.22 billion by the end of May 2026, compared to approximately $15.16 billion at the end of April, according to a data released by the Central Bank of Egypt (CBE).

According to the data, reserve money increased to EGP 2.57 trillion by the end of May, up from EGP 2.43 trillion in the comparative period, reflecting continued improvement in liquidity indicators and reserves within the banking sector.

This positive performance comes amid higher foreign currency inflows into the Egyptian market, which have helped strengthen the net foreign assets surplus and support exchange rate stability. It has also enhanced the banking sector’s ability to meet the economy’s foreign currency needs.

Net foreign assets are a key indicator of the external financial position of the banking sector. They measure the difference between foreign assets and foreign liabilities, offering insight into the economy’s ability to meet its external obligations and support financial market stability.

The data also confirmed that net foreign assets have continued to record a surplus in recent months, reflecting an improvement in foreign currency inflows into the Egyptian economy, whether through exports, remittances from Egyptians working abroad, foreign investments, or other sources of foreign currency.

Business Today-


President Abdel Fattah El-Sisi met today in France, with Ursula von der Leyen, President of the European Commission, on the sidelines of the G7 Summit.

Ambassador Mohamed El-Shennawy, the Official Spokesperson for the Presidency, stated that President El-Sisi praised the strong momentum and positive trajectory witnessed in Egypt-European Union relations since they were elevated to the level of a comprehensive strategic partnership in 2024.

The President reaffirmed Egypt’s keenness to further strengthen these relations and explore opportunities for cooperation in innovative and non-traditional fields. In this context, he highlighted the ongoing efforts to activate the outcomes of the 2024 Investment Conference, as well as the economic event held on the sidelines of the Egypt-EU Summit in October 2025.

President El-Sisi also reviewed the efforts undertaken by the Egyptian state to implement structural economic reforms aimed at improving the competitiveness and resilience of the Egyptian economy and enhancing the investment climate. He expressed hope that these reforms would be reflected in a growing presence and expanded operations of European companies in Egypt.

For her part, von der Leyen said on her official X account that the European Union is moving quickly to implement its 2024 partnership with Egypt. She noted that €1.5 billion will be disbursed this month to support Egypt’s reform program, in addition to mobilizing €8 billion in investments in cooperation with President Abdel Fattah El-Sisi.

Von der Leyen added that diplomatic efforts in the Middle East were also discussed, stressing the EU’s support for the swift implementation by all parties of the agreement between the United States and Iran. She also expressed hope for tangible progress in Gaza in relation to recovery and reconstruction.

President Abdel Fattah El-Sisi participated in the G7 Summit, hosted by France, with the attendance of leaders of member states and a number of international partners, to discuss key international and regional issues as well as global economic challenges.

The summit addresses several important files, including geopolitical developments, the global economic situation, energy security, climate change, and ways to strengthen international cooperation in addressing current challenges.

President El-Sisi is also scheduled to hold a number of bilateral meetings with leaders and officials of participating countries to discuss ways to enhance joint relations and exchange views on issues of mutual interest.

Ursula von der Leyen, President of the European Commission, affirmed that Egypt is a central and stable partner for Europe in a turbulent region.

Business Today-


On behalf of His Excellency President Abdel Fattah El-Sisi, Prime Minister, Mostafa Madbouly, inaugurated this morning the fifth edition of the Africa Health ExCon 2026 medical exhibition and conference.



The event is organized by the Egyptian Authority for Unified Procurement, Medical Supply and the Management of Medical Technology, under the patronage of President El-Sisi, and is taking place from June 15 to 18.



Ahead of the opening ceremony, Prime Minister Madbouly received Dr. Djuro Macut, Prime Minister of the Republic of Serbia, who is participating in the opening of the fifth edition of the African medical exhibition and conference.



The event is attended by a number of current and former ministers, members of parliament, heads of international and regional bodies and organizations, ambassadors, representatives of diplomatic missions, senior healthcare leaders, and partners from international institutions and the private sector.



This year’s edition is witnessing unprecedented participation from Egyptian healthcare entities and institutions as key partners, reflecting the integration of Egypt’s healthcare system and the country’s unified efforts to support the health development agenda at both the national and African levels.



Participating entities include the Ministry of Health and Population, the Egyptian Authority for Unified Procurement, the Egyptian Drug Authority, the General Authority for Healthcare Accreditation and Regulation, the General Authority for Healthcare, the General Authority for Universal Health Insurance, universities, teaching hospitals, relevant regulatory and oversight bodies, and leading pharmaceutical companies.



This broad participation positions the conference as a comprehensive platform that brings together key stakeholders in healthcare, health policy, and decision-making across Egypt and Africa.



The fifth edition is being held under the theme “Health Sovereignty in Africa: Leadership, Resilience, and Self-Reliance,” in cooperation with the Africa Centres for Disease Control and Prevention — Africa CDC. The theme highlights Egypt’s role as a leading regional hub in supporting and developing healthcare systems across the continent and strengthening African health integration, in line with the African Union’s Agenda 2063 and Egypt Vision 2030 for sustainable development.



This year’s edition brings together more than 400 local, regional, and international companies, with expected attendance exceeding 45,000 visitors, including experts and decision-makers from around the world. The event features more than 21 high-level panel discussions, specialized sessions, and intensive technical workshops aimed at turning healthcare challenges into tangible investment and development opportunities.



During the opening ceremony, a documentary film was screened, highlighting the achievements made throughout previous editions of the conference.



Dr. Hisham Stait, Chairman of the Egyptian Authority for Unified Procurement, Medical Supply and the Management of Medical Technology, delivered a speech welcoming attendees to the fifth edition of Africa Health ExCon. He noted that the exhibition has, over the past years, become a leading platform for dialogue, cooperation, and building strategic partnerships in the healthcare sector, bringing together decision-makers, healthcare leaders, development partners, and experts from across Africa and the world.



During his remarks, the Chairman of the Egyptian Drug Authority outlined the roadmap for the authority’s strategy until 2030. The strategy is based on five interconnected pillars: growing the Egyptian pharmaceutical market, localizing the pharmaceutical industry, boosting Egyptian pharmaceutical exports, achieving international recognition and global and regional leadership, and advancing digital transformation and drug traceability.



Dr. Jean Kaseya, Director-General of Africa CDC, then delivered a speech in which he described the conference as an important opportunity to once again warn against the challenges facing Africa due to Ebola, one of the most widespread and dangerous epidemics. He noted that the conference must address key questions related to the measures needed to confront this major threat.



Dr. Kaseya thanked President Abdel Fattah El-Sisi for Egypt’s support to its African partners, as well as the Egyptian state for its decision to send medical supplies. He praised Egypt’s role, describing it as an act of solidarity with African countries.



He added that the continent needs more effective measures through unified procurement mechanisms for pharmaceutical products and medical supplies across African countries, alongside local production pathways in each country and joint initiatives in this field.



Dr. Khaled Abdel Ghaffar, Minister of Health and Population, also delivered a speech, stressing that Africa Health ExCon 2026 embodies Egypt’s vision to strengthen African health sovereignty and position the continent as a hub for healthcare innovation, manufacturing, and trade.



He said the conference represents a strategic platform for enhancing partnerships, transferring technology, and exchanging expertise in a way that supports fair access to health technologies and helps build more resilient and sustainable health systems for the peoples of Africa.



The minister added that, guided by its vision for sustainable human development, Egypt believes the future of healthcare in Africa depends on moving from treating illness to building health, and from reactive healthcare systems to proactive systems based on prevention, early detection, innovation, and digital transformation.



He also emphasized that Africa possesses the human resources, scientific expertise, and investment opportunities needed to become a global hub for innovation, manufacturing, and healthcare trade. He stressed that Africa Health ExCon serves as a strategic platform to unify efforts and accelerate cooperation, contributing to African health sovereignty and ensuring fair and sustainable access to health technologies for all African peoples.



Dr. Abdel Ghaffar affirmed that Egypt, under the leadership of President Abdel Fattah El-Sisi, will continue to support all initiatives aimed at strengthening African health integration, transferring expertise, building capacities, and localizing medical industries.



He noted that investing in health is an investment in people, development, and stability, and that building strong and resilient healthcare systems is the foundation for a healthier and more prosperous future for Africa and the world.



Over four days, the conference features a rich program of panel discussions, specialized forums, and technical workshops covering key topics such as localizing medical industries, strengthening pharmaceutical security, digital transformation in healthcare, artificial intelligence applications, healthcare financing, and the development of medical supply chains.



The agenda also includes discussions on mechanisms to build more resilient healthcare systems capable of responding to future crises and health emergencies.



Africa Health ExCon is considered the largest healthcare gathering on the African continent. It aims to enhance health security and integration among African countries by supporting local manufacturing of medical and pharmaceutical supplies, strengthening healthcare supply chains, and expanding investment and innovation opportunities in the health sector.

Business Today-


The Egyptian government signed three strategic memoranda of understanding aimed at strengthening regional and international cooperation, supporting African integration, and advancing pharmaceutical and healthcare systems across the continent.

The first MoU was signed between the Egyptian Drug Authority and Algeria’s National Agency for Pharmaceutical Products, focusing on cooperation in pharmaceuticals and medical supplies.

The second MoU concerned Egypt’s hosting of the operational headquarters of the African Pooled Procurement Mechanism. It was signed between the Egyptian Authority for Unified Procurement, Medical Supply and the Management of Medical Technology, and the Africa Centres for Disease Control and Prevention — Africa CDC.

The third MoU covered Egypt’s participation in the African Pooled Procurement Mechanism (APPM). It was also signed between the Egyptian Authority for Unified Procurement, Medical Supply and the Management of Medical Technology, and Africa CDC.

Business Today-


Egypt’s Ministry of Finance has launched the first mobile application for real estate tax services, allowing taxpayers to electronically submit property declarations, make advance payments, settle outstanding dues, and request exemptions for the family’s private residence.

In a statement issued on Monday, Minister of Finance Ahmed Kouchouk said that, for the first time, owners of multiple units will be able to submit a single tax declaration, adding that electronic payment receipts will be officially recognized.

Kouchouk noted that the new real estate tax facilitation measures aim to simplify procedures and reduce burdens and obligations on citizens. These measures include raising the exemption threshold for the family’s private residence to EGP 8 million, up from EGP 2 million.

He added that the ministry is preparing a smart indicative pricing map for the valuation of built properties, with the aim of unifying standards and ensuring fairness.

The minister also pointed out that exemption requests for the family’s private residence can now be submitted within the electronic declaration, without the need to visit a real estate tax office.

He further explained that late payment penalties will be waived for taxpayers who pay the original tax debt by October 2. Taxpayers will also be allowed to settle ongoing disputes by paying 70% of the tax due by the same deadline.

Kouchouk stressed that no tax will be imposed if a property has collapsed or if exceptional circumstances prevent the building from being used or utilized.

He also highlighted a tax incentive for compliant taxpayers who submit their declarations within the legal deadline, including a 25% deduction from the tax due on residential units and a 10% deduction on non-residential units. This incentive increases to a 30% tax deduction when advance payments are made, ranging from EGP 200 to EGP 1,000 depending on the type of unit.

For his part, Rami Youssef, Assistant Minister of Finance for Tax Policies, said that all appeals filed by the Real Estate Tax Authority and currently being reviewed by appeal committees will be withdrawn. He added that the authority’s power to challenge rental values determined by valuation committees will also be revoked.

Youssef also noted that taxpayers will be allowed to pay both the tax and any late payment amounts in installments through electronic payment methods, as part of efforts to make the process easier for citizens.