Economy & Trade

Egypt's Trade and Industry Minister Nevine Gamae said Tuesday that the Egyptian Micro, Small and Medium Enterprises Development Agency (MSMEDA) is outlining an urgent plan to upgrade small projects in the wake of the coronavirus crisis.
Egypt's Trade minister reveals urgent plan to upgrade SMEs sector
Egypt's Orascom Investment Holding Company (OIH) turned into profitability during the first quarter (Q1) of 2020 by LE 51.63 million
Egypt's Orascom Investment turns into profitability in Q1 of 2020
The president’s remarks were then elaborated by the industry minister so that people know what group of vehicles are mainly targeted by the decision.
Egypt’s Industry Minister reveals full strategy to convert gasoline-powered cars to natural gas
The Egyptian pound showed the best performance among the currencies of the emerging markets against the US dollar over the past three years, the Cabinet media center said on Monday.
Egyptian Pound best performance among emerging markets currencies over 3 years
A reliable banking source said Monday that investment funds and international institutions pumped new investments worth $3 billion in the Egyptian market in one month, adding that around $1 billion funding of the sum was done over the past two days.
Banking official: Int'l funds pumped $3B new investments in Egypt's market in a month
Egypt spent LE 280 billion during the past 6 years, to improve the living conditions in Cairo Governorate only, President Abdel Fattah El-Sisi said Sunday.
Egypt spends LE 280B to improve living conditions in Cairo during 6 years: Sisi
Egypt's Suez Canal Economic Zone (SCZone) board of directors on Friday approved a number of mega projects set to be implemented in the coming period after being mulled by the investment committee.
Egypt's SCZone board of directors approves several mega projects
Egyptian Minister of International Cooperation Rania Al-Mashat signed six new grant agreements with the United States Agency for International Development (USAID)
Egypt signs USAID 6 new grant agreements worth $90M
Egypt’s agricultural sector contributes to the gross domestic product (GDP) by 14 percent
Egypt's Agriculture sector contributes by 14% in Egypt's GDP
Egyptian President Abdel Fatah Al-Sisi ratified Law No. 85 of 2020 linking the state’s general budget for the fiscal year 2020/2021.
Egypt's Sisi ratifies Egypt's 2020/21 budget
Egypt’s industrial production index for transformative and extractive industries, excluding crude oil and petroleum products, decreased 11.4 percent
Production index for transformative, extractive industries decreases to 11.4% in April
Petroleum and Mineral Resources Minister Tarek el Molla asserted that the project of a mazut hydro cracking complex in Assiut is the largest oil refining project to be implemented in Upper Egypt
Investment costs of largest oil refining project in Upper Egypt estimated at $2.8B : Oil min.
International Monetary Fund (IMF) Mission Chief for Egypt Uma Ramakrishnan said that the country's economic reform program has positively contributed to countering the impacts of the novel coronavirus (COVID-19).
Egypt's economic reforms contributed to countering COVID-19 impacts: IMF
The Italian Company Azimut Holding SpA decided to launch the first equity fund manager, specialized in the Egyptian securities, worth $61 million, according to Bloomberg.
Italian Azimut Holding launches equity fund manager in Egypt worth $61M: Bloomberg
Tourism sector’s Investment plan during 2020/2021 declined 28.8 percent, recording LE 5.2 billion, down from LE 7.3 billion in 2019/2020, according to Minister of Planning and Economic Development Hala el-Saeed.
Egypt's investment plan for tourism reaches LE5.2B in 2020/21
Egypt's Trade Minister Neveen Gamea discussed on Tuesday with Electricity Minister Mohamed Shaker mechanisms to activate local product preference law
Egypt's Trade, electricity ministers discuss mechanisms to activate local product preference law in gov't purchasing
Egypt was listed as a grow country in the 2020 circularity Gap report alongside China, Brazil and Vietnam, according to Minister of International Cooperation Rania Al-Mashat.
Egypt is listed as a grow country in the 2020 circularity Gap
Egypt’s net international reserves (NIR) saw an increase, for the first time since March, by the end of June to reach $38.2 billion, up from $36 billion in May, the Central Bank of Egypt (CBE) announced on Tuesday.
Egypt’s foreign reserves raise to $38.2 bln for first time since March: Central bank
Egypt is the only country in the MENA region that will not witness an economic recession over 2020 and 2021
Egypt the only country in MENA to not witness economic recession over 2020-2021: Fitch Solutions
Egypt acquired the lion's share of investments in Middle East and North African startups in the first half of 2020
Egypt acquires greatest share of investment deals in MENA
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