PM witnesses inking of Eva Pharma, Eli Lilly for insulin production

Prime Minister Moustafa Madbouli witnessed the inking of an agreement between the international pharmaceutical company Eli Lilly and EVA Pharma within the framework of localizing industry of medical industry, especially insulin

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medication.

Eva Pharma CEO Riad Armanious signed the agreement with Eli Lilly’s president and general manager for the SAMETA (South Asia, Middle East, Turkey, and Africa) region, José Antonio Alas.
On the sidelines of the inking ceremony, Board Chairman of the Egyptian Authority for Unified Procurement, medical Supply, and Management of Medical Technology, Bahaa Eddin Zidan, said the agreement falls within the framework of directives of President Abdel Fattah El Sisi to localizing medical industries, encouraging investments and boosting exports.
Zidan said the authority coordinated with EVA Pharma for the deal with Eli Lilly to maintain insulin supply to low and medium income countries.
Meanwhile, Armanious voiced happiness with inking the deal as many diabetic people in low and medium income countries face daily challenge to get their medicine.
He said the company seeks to help at least one million patients by 2030 to get their medicine.
For his part, Alas said this is the first time for Eli Lilly company to help Eva Pharma for low price insulin production.
It is expected that Eva Pharma will start distributing African-made insulin within 18 months to reach about one million people annually by 2030.

 

 

Kuwaiti Week in Egypt contributes to boosting fraternal ties between Egypt and Kuwait

Kuwaiti Ambassador to Egypt Ghanem Saqer al Ghanem asserted that holding the 13th Kuwaiti Week in Egypt would contribute to strengthening the fraternal ties binding Egypt and Kuwait in addition to acquainting the Egyptians with the services and projects presented by the Egyptian and Kuwaiti bodies in the different domains.

The event was inaugurated on Monday under the auspices of Egyptian Prime Minister Moustafa Madbouli and will run until December 21 with the participation of more than 50 Kuwaiti and Egyptian bodies in the sectors of industry, petroleum, investment, banks, medicine, tourism, media, culture and communication in addition to other sectors.

Ministers of industry, supply, finance and civil aviation participated in the inauguration in addition to a galaxy of public figures and media men.

PM follows up on status of “Housing for All Egyptians” initiative

Prime Minister Mostafa Madbouli has emphasized the necessity of continued follow-up of projects that are being implemented to provide suitable housing units for various segments of citizens nationwide, especially those living on a low income, within the framework of the “Housing for All Egyptians” presidential initiative.

Madbouli made the remarks during his meeting on Monday with Minister of Finance Mohamed Maait and Minister of Housing, Utilities and Urban Communities Assem el Gazzar, among other senior officials.

The meeting discussed the status of the “Housing for All Egyptians” initiative.

The meeting also probed means of confronting the rise in prices of building materials especially amid the current global crisis that has cast its shadow over various sectors.

Industry minister says Kenya 1st partner to Egypt in Africa’s east

Minister of Trade and Industry Ahmed Samir hailed on Monday the history-honored relations between Egypt and Kenya.

In a speech he read out on behalf of Prime Minister Mostafa Madbouli during a celebration hosted by the Kenyan embassy in Cairo on the occasion of the 59th anniversary of the east African country’s independence, Samir said that Kenya is the first partner to Egypt in Africa’s east.

The ceremony was attended by Ayub G. Matiiri, Kenyan Ambassador in Cairo, along with diplomats from Arab, African and foreign countries.

He added that trade, economic and investment relations are witnessing a boom in light of bilateral trade regional and continental agreements.

Samir praised the efforts exerted by the Egyptian and Kenyan governments along with the business societies in the two countries which he said contributed to promoting joint cooperation at all levels.

He added that Egypt seeks to benefit from the potentials of the two countries in the fields of trade and investment in light of their membership at COMESA, saying the Egyptian government is committed to boosting economic and investment cooperation with all African states.

The minister expressed hope for increasing joint projects between the private sectors of the two countries after the African Continental Free Trade Area (AfCFTA) took effect.

For his part, the Kenyan ambassador in Cairo expressed his country’s keenness on boosting relations with Egypt, hailing Cairo’s political support to Nairobi before and after Kenya’s independence.

He said the trade exchange between the two countries is increasing as it reached nearly 550 million dollars last year.

Cabinet launches website to receive investors’ requests to get ‘Gold License’

“Gold License,” that was released by the government to make it easy for businessmen to get permits and carry out projects, especially in the industrial field.

 The link “https://www.cabinet.gov.eg/GoldLicense” was launched by the Cabinet to help investors register their requests to get the “Gold License.”

 Prime Minister Moustafa Madbouli asserted the step is part of a series of steps to complete launching the “Gold License” system in the country to facilitate the mechanism for obtaining it online.

 The measure aims to promote flow of investments and set the stage for doing business by investors, along with solving any problems they may face, said Madbouli.

 The move comes in accordance with President Abdel Fattah El Sisi’s directives to unify and simplify procedures and permits requited to kick-start activities and projects, he added.

 Spokesman for the Cabinet ambassador Nader Saad said the website is enabling investors, who desire to obtain the “Golden License” to fill in applications and get it online.

 The requests include all data of applicants, covering their companies, establishment histories, legal status, employees, annual exports and local component percentage in products, added Saad.

 The spokesman said the website sets a number of rules and conditions for the applicants to get the license.

 

Egypt’s IT offshoring and business services sector sees strong growth momentum

With 29 new agreements with technology MNCs

  • A signing ceremony between ITIDA and 29 global enterprises was held in Cairo, showcasing sustained confidence in Egypt’s offshoring and outsourcing sector
  • The agreements, witnessed by Egypt’s Prime Minister, create over 34k jobs directed towards exports 

CAIRO, Dec. /PRNewswire/ — Branded as an attractive Mediterranean hub, Egypt is a choice for many as a big business destination, given its premium offshoring status. The country has proved its resilience as a leading global IT offshoring and outsourcing hub with numerous investments in the sector over the past few years. Today, the confidence of multinational partners in Egypt’s highly skilled talent pool is highlighted through a signing ceremony held by the Information Technology Industry Development Agency (ITIDA) cementing Egypt’s position as a leading global offshoring and outsourcing hub.

The signing ceremony of 29 agreements with big IT offshoring and business process services providers, was witnessed by the Prime Minister of Egypt Dr. Mostafa Madbouly, in the presence of Minister of Communications and Information Technology, Dr. Amr Talaat, at Sultan Hussein Kamel Palace in Cairo; one of Egypt’s most historic gems.

Dr. Amr Talaat, Minister of Communications and Information Technology endorsed the agreements inked with 29 multinational companies, that creates over 34 thousand jobs directed towards exports through 35 global delivery centers with export value worth USD 1 billion annually. “These agreements reflect Egypt’s conducive business environment and multinationals’ confidence in our qualified local talent,” Talaat commented.

H.E. Talaat underlined Egypt’s potential as the next big hub for digital and high-end services, thanks to the constant efforts made to boost Egypt’s competitiveness in the offshoring industry. “With its unique central location at the crossroads between 3 continents, Egypt delivers a resilient high-quality digital infrastructure, and provides a supportive legislative framework catching up with the global rapid growth,” he continued. “Our plentiful supply of tech talent is all set and ready at a very competitive cost, with proven experience in business services delivery for global firms to more than 100 countries with 20 different languages,” Talaat affirmed.

Egypt’s offshoring industry is witnessing an unprecedented momentum of growth. The country enjoys many competitive advantages that established its reputation as a favorable global offshoring destination. The diverse IT & digital services, abundance of talent, cost competitiveness, resilient business operations, and the government’s support are among Egypt’s unique value proposition that encourage global enterprises to launch and expand their global operations.

Amr Mahfouz, CEO of ITIDA, said: “We’re thrilled to sign so many business agreements with global technology companies, which demonstrates the strength of Egypt’s IT sector to attract new business and cement existing relationships. The current geopolitical risks have led to major challenges and service disruption across key delivery locations, combined with the aching global shortage of talent. But through our mission to support the development of the technology sector in Egypt, ITIDA has helped industry players to be well-positioned and supplied with highly skilled, reliable talent, making Egypt the best option for multinationals looking to offshore and outsource their business.

“ITIDA continues to invest heavily in building the digital and soft skills of our large talent pool, with a strategic focus on developing the country’s capabilities in the high-value services, including engineering, research & development (ER&D), embedded software, and electronic design. This latest round of deals will be a significant contributor in helping ITIDA to achieve the goals of the Digital Egypt strategy for the offshoring industry which aims to multiply export revenues and create high-value job opportunities for our skilled domestic talent pool,” Mahfouz added.

The value of Egypt’s digital exports will increase by $1 billion annually, marking a significant growth to the current export revenue of $4.9 billion. Moreover, the agreements include both new partnerships with leading technology companies launching global delivery centers first time, and expansions of existing successful business relationships which will triple the size of operations in Egypt.

Entering the country for the first time are Capgemini, Evolvice, Nortal, PWC, Tech Mahindra, and Trimetis. While the leading companies who are expanding their current business include Advansys ESC, Amazon, ATOS, IBM Egypt, Microsoft, Majid Al Futtaim Global Solutions, Majorel, MEAPAL, Concentrix, MicroWize Technology, CrossWorkers, Dell Technologies, Pepsico, Expleo, SEITECH Solutions, Honeywell, Sitel Group, Sutherland, Webhelp, SYS Misr for Information Technology Services, Pixelogic, Valeo, and Vodafone Intelligent Solutions.

The 34,000 new jobs will spread across different export sectors including 21,000 in the Business Process Services sector (Contact Centers and Shared Services Centers), 10,500 in the IT Services sector, and 3,000 in the Engineering, Research & Development (ER&D) sector.

The agreements signing is in line with ITIDA’s mandate and strategic objectives to drive more foreign investments in the IT sector, increase Egypt’s digital exports, and create more jobs in the offshoring sector. Last February, the Information Technology Industry Development Agency (ITIDA) launched the Digital Egypt Strategy for Offshoring (2022-2026) to unlock further growth potential in the industry, based on a thorough and objective study of the Egyptian market and the global demand.

Madbouli hails launch of IDSC forum

Prime Minister Mostafa Madbouli has appreciated the launch of the intellectual forum of the Information and Decision Support Center (IDSC).

In statements Sunday, Madbouli said the launch represents a permanent communication channel between the government and experts to discuss the latest developments in the country and support the Egyptian state’s vision on serving decision-making.
Assistant prime minister and head of IDSC Osama El Gohari said the forum will discuss the latest economic, social, political and technological, local, regional and international issues and their role in the decision making.

 

 

PM stresses depth of historical ties between Egypt, UAE Satu

Prime Minister Moustafa Madbouli Saturday 03/12/2022 asserted strength and depth of historical relations binding Egypt and the UAE.

That came in remarks by the premier, delivered on his behalf by Minister of Electricity and Renewable Energy Mohamed Shaker during celebrations which were held by the UAE Embassy to Egypt on the 51st UAE Union Day.

Madbouli conveyed greetings of President Abdel Fattah El Sisi to UAE President Sheikh Mohamed bin Zayed Al Nahyan on the 51st UAE National Day.

The premier affirmed that participation in the celebrations reflects depth and strength of brotherly and profound relations between the Egyptian and UAE leaders and great and strategic relations between the two countries in the political and economic domains.

Madbouli commended positions of UAE that support Egypt in all fronts.

Egypt and UAE are scaling up cooperation in electricity and renewable energy, he said, adding several projects were carried out with the objective of boosting development process in Egypt and meeting requirements of economic and social development, in addition to raising living standards of people, according to him

For her part, UAE Ambassador in Cairo Mariam Khalifa Al Kaabi said Egypt- UAE relations eyed great development in all areas to become an ideal example for Arab-Arab relations, which are capable of facing all challenges.

Egypt and the UAE were able to build strong economic ties, based on developmental, trade and investment cooperation and development of successful partnerships at both the government and private sector levels, added Kaabi.

The diplomat said Egypt is a strategic trade partner to the UAE in the region and the UAE is a most important commercial partner to Egypt.

Shifting to investments, Kaabi said the UAE tops a list of countries investing in Egypt.

She, meanwhile, congratulated Egypt for greater success it made while chairing COP27 in Sharm El Sheikh and the agreement on setting up a fund for damage and loss, noting that the UAE will host COP28.

Egypt’s playing host to COP27 offers an important chance for fostering bilateral cooperation in climate action and environment in addition to backing plans of the two countries to achieve sustainable development, according to her.

A few days away from the Euromoney Egypt Conference 2022 launch on 7 December in Cairo

The conference will review 2022 as well as the year ahead to get a clear picture of the Egyptian finance and investment narrative

Cairo, Egypt: The 25th edition of the Euromoney Egypt Conference will be held under the auspices of, and opened by, His Excellency Dr. Moustafa Madbouly, Prime Minister of Egypt. His Excellency Dr. Mohamed Maait, Egypt’s Minister of Finance, will also be participating along with other high-profile local and international speakers such as: H.E. Dr. Amr Talaat, Minister of Communications and Information Technology, Government of Egypt; Ayman Soliman, Chief Executive Officer, The Sovereign Fund of Egypt; Dr. Mohamed Farid Saleh, Executive Chairman, Financial Regulatory Authority (FRA); and Ahmed Kouchouk, Vice Minister of Finance for Fiscal Policies, Government of Egypt.

Delegates will have the opportunity to meet with and hear from senior representatives from the Egyptian Government, as well as local and international investors, financiers, and business leaders.

The conference will review 2022 as well as the year ahead to get a clear picture of the Egyptian finance and investment narrative and ask the questions:

  • Is the country still fragile or has the freeing of the Egyptian pound been a lasting turning point? The markets seem to think so. But can this trend continue and what else lies ahead for this pivotal Arab nation?
  • Can Egypt’s shift towards sustainability and low carbon energy be maintained and what opportunities does this present for global capital? All these key questions will be answered and many more. This event provides a significant opportunity to stay ahead of the curve in what is going to be a roller-coaster year in the global economy.

The lead sponsors of the conference are Mashreq Bank and Standard Chartered. The co-sponsor is Citibank. Find out more through the conference website, where you can view the full agenda:  https://events.euromoney.com/egypt2022

Egypt secures $10bn green funds during COP27

Egypt’s Minister of International Cooperation Rania al-Mashat revealed a $10.3 billion in financing packages for government sectors were offered for green transformation under the Nexus on Water, Food and Energy (NWFE) programme.

Al-Mashat’s announcement came on Monday during a meeting with the President Abdel Fattah al-Sisi and the Prime Minister Moustafa Madbouly, reviewing the results of the UN Climate Summit COP27 in mobilising development funds.

The financing aim to implement a number of diverse national projects in water, food, energy, and transport sectors, the meeting highlighted.

In regard of water and food axes, the new funds will lead to the expansion of irrigation projects using clean energy to reduce harmful emissions and promote sustainable agricultural activities, Al-Mashat stated.

As for the energy axis, the funds seek to implement wind power plants, clean energy and green hydrogen, in addition to saving emissions and reducing dependence on traditional fuel from the stations.

Meanwhile, al-Sisi has directed to form specialized technical work teams in each concerned ministry to provide a quick path for the completion of all procedures and approvals related to these projects.