Egypt to Establish Free Economic Zone in Nuweiba That Will Create 14,000 New Jobs. Leading International Bank Predicts Egypt Will Have One of the World’s Strongest Economies by 2030. Egypt's citizenship for sale to foreigners at $400,000. Foreigners interested in Egyptian citizenship will deposit at least 7 million Egyptian pounds ($392,000) and then hand it over to the Treasury after five years, an amendment passed by parliament on Monday said.
Egypt has been looking to boost its finances and draw back foreign investment that fled the country after its 2011 uprising, notably through a series of tough reforms tied to a $12 billion IMF loan programme it began in late 2016. How Egypt Is Slowly Losing Its Hold Over the Nile River. Like a phoenix, Egypt economy is rising from ashes. Egypt's Nile River Delta, once the bread basket of the world, may soon be uninhabitable — Quartz. It’s not a get-rich-quick scheme.
It’s “get-rich-quicker” through systematic, effort and the compounding of effort through groups of people. That’s from the slick marketing of TwinKas, a very popular online “investment” plan in Nigeria. Like MMM before it, TwinKas is essentially a ponzi scheme which promises unbelievable rates of return via a system which relies on regularly recruiting hundreds of new “investors” to keep it running. Despite the stories of such programs eventually collapsing, and thousands of Nigerians losing money, there’s never a shortage of others willing to enroll when new schemes pop up. Egypt’s capital set to grow by half a million in 2017 - Al Arabiya English.
Cairo’s population is set to grow by 500,000 this year, more than any other city in the world, adding to the pressure on an Egyptian economy struggling to recover from six years of political turmoil.
Greater Cairo, a metropolitan area including the cities of Cairo, Giza and Qalyubia, is home to some 22.8 million people and will gain another half a million in 2017, a Euromonitor International report released last week shows. That represents a quarter of Egypt’s 92 million. The national natural population growth of 2.4 percent per year is double the average of other developing countries, said Mohamed Abdelgalil, adviser to official statistics agency CAPMAS. Stinging poverty in southern Egypt leads many families to have several children in the hope they can become sources of income. Those children eventually migrate to larger cities for job opportunities scarce in their hometowns. “Also, many of them have daughters until they have sons,” she added. Cairo to Overtake Shanghai as World’s Most Populated City. Egyptian Universities See Boom in Foreign Students.
A massive increase in both non-Egyptian Arab students and other foreign students in recent years has been a real boom for public universities in Egypt.
These institutions benefit both from higher fees paid by those students, and from an enhanced academic standing thanks to the talent they attract from abroad. And the students themselves benefit from an affordable education in a diverse range of subjects. “Tuition and accommodation here in Egypt cannot be compared with elsewhere,” said Mustafa Hurriyah, a third-year Syrian medical student who studies at Assiut University. Hurriyah previously live in Saudi Arabia, but was unable to complete his undergraduate studies there. “The study costs are just too expensive [there] for non-citizens,” he said. Egypt to focus on African exports market: head of ECS. The Egyptian Commercial Service Office (ECS) has designed an ambitious plan to enhance Egypt’s presence in Africa, which Egypt has hedged its bets on for the coming period.
Ahmed Antar, head of the ECS, said that they are currently studying the possibility of taking part in international exhibitions in the African continent, as well as beginning negotiations on the establishment of a permanent exhibition in Djibouti, along with other talks to set up an Egyptian-African free trade zone. How many commercial offices does ECS intend to open in the coming period, and in which countries? The Ministry of Trade and Industry prepared a plan to restructure its commercial representation abroad, out of the belief that the coming period requires rapid actions to restore the competitiveness of Egyptian products.
Ashwa’yat: the underbelly of urban Cairo as understood through data. In a first of its kind, The Population Council and the Central Agency for Public Mobilization and Statistics (CAPMAS) highlighted the problems afflicting the youth living in ashwa’yat (informal housing areas) in a data survey released last month.
The survey noted that Sustainable Development Strategy: Egypt Vision 2030 refers to the vital need to develop Egypt’s ashwa’yat through the creation of 7.5m housing units, with a concerted effort to find solutions to problems pertaining to those areas by 2030. It continued: “This country vision is in line with the United Nations Sustainable Development Goals (SDGs) agenda, which highlighted the plight of [ashwa’yat] dwellers in its “urban goal”. Dr. However, there is very limited data that is able to provide reliable statistics on such areas, particularly on the characteristics of young people living in those informal communities, according to the survey. Health Labour and employment. Business of wheat in Egypt. Currency crisis hits Egyptian pharmaceutical companies. Untitled. CAIRO: Egyptian President Abdel Fattah al-Sisi said Saturday that the military's economic activity accounted for no more than two percent of the country's output, dismissing suggestions that the military could control as much as half of the economy.
Speaking at an event celebrating the expansion of a military-owned company, Sisi said the military made up 1.5-2 percent of economic output which he said was 3-4 trillion Egyptian pounds ($160 billion-$213 billion). That would put the military's share of economic activity at between $2.39 billion and $4.26 billion. "It has been said that the military's economy is worth 20 or even 50 percent of the economy. I wish. We have nothing to hide; the military accounts for between 1.5 to 2 percent of the economy," Sisi said, adding that the military paid taxes on all projects and that they were subject to regulations and auditing.
Egypt Is Charting a New Economic Course. 'Do what you love': Interview with Egyptian lady CEO. Nevine Loutfy is managing director and CEO of the National Bank for Development.
After an international career spanning over three decades with global behemoth Citibank, the fearless banker left Citigroup’s EMEA Commercial Bank in London where she had held the positions of chief operating officer, managing director and business senior credit officer to head NBD in 2008. Suez Canal Economic Zone: the Egyptian dream that could begin a renaissance. Hong Kong, Shenzhen, Singapore, Jebel Ali, Hamburg, Rotterdam, Tangier, and Panama are waterways that brought about major changes for their countries.
However, the oldest waterway, the Suez Canal, has maintained its position as one of the world’s most important waterways since its opening on 17 November 1869. These other waterways around the world have managed to boost their country’s economies in sustainable ways, something that Egypt is seeking to tap into amid an economic downturn and the start of its economic reform programme. Developing the Suez Canal area is one of the main projects President Abdel Fattah Al-Sisi said that he will implement to boost Egypt’s economy.
Egypt's coastal cities affected by rising sea levels. EGYPT-CAIRO-CHINESE AUTOMAKER-BAIC. How Egypt plans to 'return to Africa' Ibrahim Mehleb (C), the presidential adviser for national projects, attends the Africa 2016 forum on Feb. 20, 2016, in the Red Sea resort of Sharm el-Sheikh.
(photo by MOHAMED EL-SHAHED/AFP/Getty Images) Author: Rania Rabeaa Elabd Posted August 30, 2016 CAIRO — Representatives from Egypt, other African nations and Japan met in Nairobi, Kenya, Aug. 27 for the launch of the sixth Tokyo International Conference on African Development (TICAD) Summit. According to TICAD’s official website, the conference aims to highlight the importance and urgency of development issues in the African continent, as well as to “promote high-level policy dialogue between African leaders and development partners.”
CFEC looks to increase exports to African market in 2016: Chairman. The Chemical and Fertilizers Export Council (CFEC) plans to allocate more than 20% of its total target exports, valued at EGP 30bn, to African markets in 2016, according to CFEC Chairman Khaled Aboul Makarim. The CFEC is affiliated to the Egyptian Federation of Egyptian Industries (FEI) and controls more than 25% of the total Egyptian exports. Approximately EGP 4.3bn of this share currently go to African markets, while the rest is exported to other world markets. “We will increase our exports in Kenya, Uganda, Tanzania, South Africa and Ghana,” Aboul Makarim told Daily News Egypt. Aboul Makarim disclosed that the council is currently conducting studies into the feasibility and benefits of establishing a logistical centre in Kenya that would promote Egyptian products.
Industrial zone for Russian companies may appear in Egypt in 2017. A Russian industrial zone may start to function in the Suez Canal area in February 2017, Egyptian Minister of Trade and Industry Tarek Qabil said. "I had a meeting with [Russian] Trade Minister Denis Manturov. We discussed the issue of creating an industrial zone for Russian companies in the Suez Canal area in Egypt. I hope that this will be implemented in February 2017 in three stages," Qabil said in an interview with Interfax on the sidelines of the St.
Petersburg International Economic Forum (SPIEF). Qabil also said that he had held a meeting with the Russia side to "discuss an agreement on establishing a free trade zone between Egypt and the Eurasian Economic Union. " "We discussed technical details of how it would be put into practice," the minister said. Egypt: SICO and China Megaun Group to open a tablet-mobile phones factory in Alexandria - Ecofin Agency. (Ecofin Agency) - Egyptian firm SICO Technology signed an agreement with partnership with China Megaun Group to build a tablet-and-mobile phones assembly unit in Egypt. The $20 billion plant funded by both parts, will be built in the Borg-El Arab tech zone, in the Governorate of Alexandria.
Cited by dailynewsegypt.com, Mohamed Salem, CEO at SICO Technology, said that the plant in its first year will be able to produce 6,000 devices per day and increase to 18,000 devices in 2018. The Salem added that the plant will manufacture smartphones and tablets for the Egyptian market as well as for Southern and Eastern African, the Gulf and Southern American markets. Once the assembly unit is operational, SICO Technology intends to open its capital on the Egyptian Exchange (EGX) to raise some cash to finance its expansion. Mohamed Salem says he aims with this unit to turn Egypt into more than a consumer of electronic devices but into a manufacturer. Sisi issues decree allowing Saudi citizen to buy Egyptian-only land - Al Arabiya English. Egypt’s President Abdel Fattah al-Sisi has issued a decree allowing a Saudi national to buy a land previously allowed only for Egyptians to own, a statement published in the local Al-Jarida al-Rasmiya newspaper showed on Thursday.
The Saudi man, named Hamood bin Mohammed bin Nassir al-Salih, wanted to purchase two pieces of land - located on the Cairo-Alexandria desert highway - but was surprised to find out that only Egyptians were allowed to be the owners, the paper reported. Without explaining how, the paper said this prompted Sisi to issue a decree allowing Salih to buy the land. Egypt Suez Canal revenues at $1.239b in Q1 2016 — Mena. Suez Canal Authority chairman Mohab Mameesh said the canal’s revenues had increased despite slowing global trade CAIRO: Revenue from Egypt’s Suez Canal reached $1.239 billion in the first quarter of 2016, up slightly from $1.236 billion in the same period last year, the state news agency MENA quoted the Suez Canal Authority chairman as saying on Wednesday. Mohab Mameesh said the canal’s revenues had increased despite slowing global trade. Egypt to launch commodities exchange hub by year-end.
Africa is Egypt’s priority – Dr Elfekky. Egypt: PM Receives Report On Adding More Hypermarkets, Trade, Logistic Zones. $1 billion bet on ‘New Egypt’ Led by the new-generation businessman and philantropist Ahmed Abou Hashima, Egyptian Steel has been a driving force behind the nation’s economy over the past five years. Egypt to allocate industrial lands to investors for free.
Africa: Think Again - Egypt Looks South, Finally. AnalysisBy Simon Allison In early April, King Salman of Saudi Arabia went Cairo on a high-profile visit. He came laden with treasure - specifically, billions of dollars' worth of trade deals, low-interest loans and grants - but left with something that the Saudis consider ever more valuable: the Red Sea islands of Sanafir and Tiran. On first appearances, it looked like Egypt's President Abdel Fattah el-Sisi, under huge economic pressure, had done something few other world leaders would countenance. Egypt invited to attend G20 meeting for first time. Egypt's president opens Africa investment conference. Suffering economic problems due to security issues that led to declining investment and tourism, Egypt received in early January $500 million as the first batch of a $1.5 billion loan from the African Development Bank (AFDB). IS said it brought down the jet with a bomb.
Sindiso Ngwenya, head of the Common Market for Eastern and Southern Africa (Comesa), said intra-Africa trade will improve global investor confidence. The meeting dealt with the business importance of exploiting Egypt's geographical location and excellent logistics capabilities as a gateway between Africa and the Gulf markets, European and Asian. Egypt: Committee for Restoring Stolen State-Owned Lands Formed. President Abdel Fattah El Sisi issued a decree on Thursday on forming a committee for restoring stolen state-owned lands. Presidential Assistant for national and strategic projects Ibrahim Mahlab will chair the committee.
Egypt: Committee for Restoring Stolen State-Owned Lands Formed. Egypt's economy in numbers 2015: Infographic. Egypt: Greater Cairo Residents Reap More Than Half of Wages Nationwide. Employees in the Greater Cairo metropolis rake in 56.6 percent of wages distributed across Egypt, the government revealed for the first time on Tuesday. The figures were released one day after the population of Egypt inside Egypt hit 90 million. According to figures provided by the Central Agency for Public Mobilisation and Statistics (CAPMAS) the total population of Greater Cairo, which includes Cairo, Giza and Qalyubia provinces, is 22.3 million, or slightly less than a quarter of the total population. Planning Minister Ashraf El-Arabi said "we always talk about growth rates ... but we did not speak about where it is happening. " The government relied on economic census data from the fiscal year 2012/2013, which it presented today in a report comparing Egyptian provinces, focusing on indicators such as output, wages and taxes.
1162. Egypt’s Biggest Entrepreneurial Event to be Held in December. 2013_RP08_rll.pdf. Egypt: ‘Free zones’ system in Egypt. 'Free zones' are one of the distinguished investment patterns where an investor can establish, set up and start his own project under the umbrella of this system. Egypt’s Non-Oil Economic Activity Indicates Recovery Has Stalled. President Abdel Fattah Al-Sisi,Minister of Industry and Foreign Trade, Mounir Fakhry Abdel Nour,China Development Bank ,National Bank of Egypt ,SMEs,GAFI,Alaa Omar,Singapore,China,Chinese President, Xi Jinping,Singaporean President ,Tony Tan.
Egypt is essential to Belt and Road initiative, Chinese Diplomat. Untitled.