News

Minister of Housing, Utilities and Urban Communities Sherif El-Sherbiny held a meeting to review progress on ongoing works at the site designated as an alternative location for the Samla and Alam Al-Roum areas, as well as to assess the current status of compensation procedures for affected residents. During the meeting,…

The African World Heritage Fund (AWHF) facilitated the registration of four new African heritage sites on the UNESCO World Heritage List during the last six months, officials announced during board meetings hosted by Egypt. The 38th session of the AWHF Board of Directors, held in Cairo, was hosted by the…

Egypt’s Ministry of Health and Population is preparing a joint feasibility study with Philips to localise the manufacturing of CT scan machines, the ministry announced on Monday. Khaled Abdel Ghaffar, Deputy Prime Minister for Human Development and Minister of Health and Population, met with the Philips Regional Director for the…

The Financial Regulatory Authority (FRA) has issued a decision establishing a dedicated register for companies that provide technology-driven risk assessment systems for non-banking financial activities, marking a significant step in regulating the use of advanced technologies within Egypt’s non-banking finance sector. These companies rely on sophisticated technological tools, including artificial…

Egypt’s Ministry of Industry has unveiled a new package of investment incentives aimed at encouraging the establishment of factories producing cold-rolled, galvanised, and pre-painted steel sheets and coils, which are regarded as key inputs for a wide range of strategic industries. In a statement, the ministry urged serious investors to…

Egypt’s real GDP growth is projected to reach around 5% in fiscal year (FY) 2025/2026 and 5.3% in FY 2026/2027, before accelerating to 6.2% by FY 2029/2030, according to the Ministry of Finance. In its Medium-Term Fiscal Strategy covering FY 2026/2027 to FY 2029/2030, the ministry attributed this outlook to…

Turkish company Eroglu Moda Tekstil has signed an agreement to establish a $5.6m (EGP 265m) ready-made garment factory in the West Qantara Industrial Zone, targeting the export of 95% of its annual production to global markets. Waleid Gamal El-Dein, Chairperson of the Suez Canal Economic Zone (SCZONE), signed the contract…

The Financial Regulatory Authority (FRA) has launched the first integrated digital payment network for the non-banking financial sector as a central platform for the secure and unified digital settlement of financial dues. The network, established through a strategic partnership with e-finance, is designed to facilitate interactions between entities operating in…

Egypt has identified 80 specific measures to overhaul the entrepreneurship environment and boost investment in startups following a year-long review of the sector, Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat said on Monday. The measures were formulated after 50 meetings involving 250 representative bodies and 160 startups,…