News

Egypt plans to reduce customs clearance time to save 284 million dollars

On Monday, 13th January 2025, H.E. Hassan ElKhatib, Egyptian Minister of Investment and External Trade announced that Egypt will launch two phases

EU & Egypt Discuss 2nd phase of the EU’s Macro-Financial Assistance

The second phase of the Macro-Financial Assistance mechanism by the European Union (EU), includes 4 billion euros in budget support and 1.8 billion

BSH company establishes 1st African factory in 10th of Ramadan City

The facility plans to split its production evenly, with 50 percent dedicated to exports targeting Middle Eastern and African markets, and the other 50

Egypt has secured the first installment of a EUR1 billion (EGP billion 52) financial package from the European Union (EU)

 

Egypt leads African startup landscape with $329M raised in 2024

In 2024, Egypt maintained its leadership in Africa's startup ecosystem, securing more than a third of the continent's total venture capital funding

Egyptian Minister of Investment and Foreign Trade Meeting with German Vice-Chancellor and Federal Minister for Economic Affairs and Climate Action

Hassan El Khatib, Egypt’s Minister of Investment and Foreign Trade, and Robert Habeck, Germany's Vice Chancellor and Minister of Economy and Climate

Signing Ceremony between the Egyptian Commercial Representation Authority and NRW Global Business

On 30th November 2024, a cooperation declaration between the Egyptian Commercial Representation Authority and North Rhine-Westphalia (NRW) Global

IMF’s 4th Review of the Extended Fund Facility (EFF)

The International Monetary Fund (IMF) sent a mission led by Ivanna Vladkova Hollar with Egyptian authorities for a 4th review of Egypt's $8 billion

Egypt net int'l reserves increase to $46.9 bln by end-October

Egypt's net international reserves (NIRs) increased to $46.9 billion by the end of October, up from $46.7 billion in September, according to data

Egypt signed MoUs with Alcazar & Voltalia-Arabia for 5.2 GW renewable energy projects

The Egyptian government signed two Memorandums of Understanding (MoUs) with Alcazar Energy and the Voltalia-Arabia alliance to produce electricity