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Egyptian President Abdel Fattah El-Sisi said on Wednesday that the government is committed to the protection of workers in black sand reserves.

Speaking at the inauguration of the Egyptian Black Sand Co.’s complex in Kafr El-Sheikh, he highlighted the state’s commitment to ensuring there is no negative health impact on the workers in the complex.

El-Sisi said the idea for the project to explore the potential of the reserves emerged five years ago, and the feasibility studies took three years. The president said the project is available to the private sector for investment, adding that private companies should form groups compatible with one other in order to complete the project within two years.

The project is part of Egypt’s efforts to maximize the use of the country’s natural wealth, said Prime Minister Mostafa Madbouly during a Cabinet meeting. He invited private sector institutions to establish factories focused on black sand, “which would take advantage of the country’s existing wealth.”

Black sand is rich in valuable minerals including ilmenite, zircon, magnetite, rutile and garnet, which can be used for a number of industries, such as textiles and renewable energy.

The project consists of four parts: An artificial lake with a total surface area of 83,000 square meters and a depth of 5 meters; the Tahya Misr dredger (a Dutch-made electric dredger with a dredging rate of 2,500 tons per hour); a floating plant with a total area of 2,800 square meters; and a site to collect yellow sand and impurities.

The Egyptian government discovered its black sand reserves over 90 years ago but was unable to utilize them.

The inauguration of the project was well received by the media and experts in various fields.

Ahmed Sultan, an associate expert at the Egyptian Center for Strategic Studies, elaborated on the properties of Egyptian black sand and its various uses, such as in the manufacture of ceramics, car bodies and aircraft structures.

Egypt’s reserves of black sand cover 1.3 billion cubic meters in 11 sites along 400 km.

Source:https://arab.news/crvsw

Saudi Arabia and China are working together to strengthen their already well-established strategic ties, as the Kingdom’s minister of industry and mineral resources hold meetings with key Chinese officials in Beijing.

Bandar Alkhorayef on Wednesday held talks with China’s Vice Minister of Commerce Wang Shouwen during which they discussed ways to boost economic collaboration and trade ties, the Saudi Press Agency reported.

The top officials also discussed investment opportunities in several economic sectors including mining.

The Saudi minister highlighted the Saudi Arabia’s progress in the field of industries and mining. He also briefed his Chinese counterpart about the existing opportunities in the Kingdom in various sectors.

Khalid bin Mohammed Al-Salem, president of the Royal Commission for Jubail and Yanbu, also attended the meeting.

Earlier, Alkhorayef met with China’s Minister of Natural Resources, Wang Guanghua, and Li Jinfa, chairman of the Geological Survey of China. They explored opportunities and challenges in the mining sector and discussed ways to enhance joint collaboration to foster growth in the mineral industry in the region.

Additionally, the Saudi minister held talks with Peng Qiming, president of the Mining Association, and Gi Honglin, president of the China Nonferrous Metal Industry Association. These meetings centered on mutual interests and efforts aimed at promoting economic growth and infrastructure development in the mining sector between the two countries.

Furthermore, Alkhorayef held discussions with the CEO of the Chinese Norinco Group, Chen Defang. The two parties discussed enhancing cooperation, exchanging expertise, and sharing experiences. Norinco Group has joint ventures in several petroleum and chemical industries with Saudi Aramco.

The minister also toured various companies and factories located in different Chinese cities as part of his trip

The visit is to further strengthen the economic partnership between Saudi Arabia and China in the industrial and mining sectors. It also allows the two sides to review their qualitative investment opportunities. Moreover, the move highlights the Kingdom’s initiatives to advance these two strategic sectors.

Source:https://arab.news/pjya6

Saudi Arabia’s economic activity gained momentum with the Ministry of Industry and Mineral Resources issuing 136 industrial licenses in August compared to 102 in July.

According to the Saudi Press Agency, the food product manufacturing sector received 29 permits, followed by the non-metallic mineral industry with 21.

Moreover, the rubber and plastics industry obtained 15 permits, and 12 licenses were issued in the paper production sector.

The SPA report added that the ministry issued 795 industrial licenses between January and August. The number of factories during this period reached 11,110, taking the total investments made by these firms to SR1.489 trillion ($400 billion).

The SPA report further noted that investment volume in August for new licenses stood at SR1.6 billion.

Small enterprises accounted for 83.09 percent of the total licenses issued in August, followed by medium enterprises with 16.18 percent and micro-enterprises with 0.74 percent.

The report added that national factories held the most significant chunk of the total licenses at 76.47 percent, followed by foreign establishments and joint-investment firms with 16.18 percent and 7.35 percent, respectively.

On the other hand, 87 factories started production in August, with an investment of SR1.5 billion. Of these plants, 79.31 percent were national factories, 12.64 were foreign establishments and 8.64 percent were joint investment firms.

Meanwhile, the ministry issued 36,293 certificates of origin in August, up from 34,926 in July.

The initiative is seen as a part of the ministry’s efforts to boost exports across various sectors.

A certificate of origin is a pivotal document in international trade, validating that the exported goods are on a nationality basis.

Source:https://arab.news/27qzn

King Salman has ordered the extension of the Citizens Account Program and provision of extra support to its beneficiaries for a full year, the Saudi Press Agency reported on Monday.

The decision, made after recommendations from Crown Prince Mohammed bin Salman, is expected to ease the financial burden on the most vulnerable in Saudi society amid a changing economic landscape, the report said.

The additional support is itself an extension of a previous directive issued by the king in July 2022.

The Citizens Account Program was established to protect Saudi families from the impact of economic reforms.

Source:https://www.arabnews.com/node/2434886

Saudi Arabia’s Film Commission will launch the fourth edition of the Filmmakers Program later this month, as it continues to develop Saudi talent in the industry.

Previous editions of the program included more than 62 training courses and trained more than 2,430 people, the Saudi Press Agency said on Monday.

In this version of the program, the commission aims to train 4,000 people, both beginners and professionals, and implement 150 training workshops in 13 regions of the Kingdom.

The commission said it will also launch the first version of the Kader Program, which will provide professional field training opportunities for up to 50 filmmakers, allowing trainees to develop cinematic tools in multiple specializations within the industry over 21 days.

The Kader initiative will be held in cooperation with international production houses and will be included in existing cinematic projects.

Through its programs and initiatives, the Film Commission seeks to provide professional training opportunities and strengthen communication between filmmakers and industry experts.

Source:https://arab.news/y7ck3

Oil prices jumped 1.5 percent in the first session of the New Year, due to potential supply disruptions in the Middle East after a naval clash in the Red Sea, and hopes of strong holiday demand and an economic stimulus in China, the top crude importer, according to Reuters.

Brent crude rose $1.20, or 1.5 percent, to $78.24 a barrel by 7:38 a.m. Saudi time while US West Texas Intermediate crude was at $72.66 a barrel, up $1, or 1.4 percent.

A Reuters survey of economists and analysts predicted Brent crude would average $82.56 a barrel this year, slightly higher than the average of $82.17 in 2023. Analysts forecast that weak global growth would cap demand, but expected geopolitical tensions to provide support.

US helicopters repelled an attack on Sunday by Iran-backed Houthi militants on a Maersk container vessel in the Red Sea, sinking three Houthi ships and killing 10 militants, escalating risks of the Israel-Gaza war becoming a wider regional conflict.

“The oil price may be affected by the escalation of the situation in the Red Sea over the weekend and the peak demand season during China’s Spring Festival,” Leon Li, a Shanghai-based CMC Markets analyst said, referring to the Lunar New Year holiday set for early February.

Li added that the forecast Chinese holiday demand was also raising expectations for a price rebound in January.

A wider conflict could close crucial waterways for the transportation of oil supplies such as the Red Sea and the Straits of Hormuz in the Gulf. After the naval battle, an Iranian warship sailed into the Red Sea, Iranian media reported on Monday.

At least four tankers transporting diesel and jet fuel from the Middle East and India to Europe are sailing around Africa to avoid the Red Sea, ship tracking data show.

In China, investors’ expectations for fresh stimulus measures rose after manufacturing activity in December shrank for a third month, government data showed on Sunday.

A stimulus could provide a fillip to economic growth, potentially boosting oil demand in the world’s second-largest oil consuming nation, and also lend support to prices.

Source:https://arab.news/ch7a7

The Ministry of Planning and Economic Development aims to raise industrial production by 19 percent in FY2023/2024 to record LE4.3 trillion up from LE3.6 trillion in FY2022/2023, while the target for FY2025/2026 is LE5.74 trillion with a rise of 15 percent in comparison to the previous year.

The industrial sector in Egypt is divided into non-petroleum industries (80 percent), and petroleum industries (20 percent).

The plan includes the efficient use of resources and energy, promoting green methods of production and industries, incentivizing and financing innovations. That is in addition to localizing and upgrading promising industries such as pharmaceuticals.

Source:https://www.egypttoday.com/Article/3/126736/Egypt-plans-to-raise-industrial-production-by-19-in-FY2023

The Egyptian government aims to raise industrial investment rates in a
sustainable manner, deepen and localize the industry, grow local supply chains, deepen interactions.

These come within the framework of the state’s plan to increase the economic growth rate to between 7% and 9% to provide job opportunities sufficient to reduce unemployment rates.

In order to achieve this, the government took 20 decisions to stimulate industrial investment, which are:

1- Establishing a unit headed by the Council of Ministers to follow up on licenses, follow up on investors registered in the Ministry of Trade and Industry database (May 2022), and inventory the total unofficial fees that are collected from industrial complexes and for which no law has been issued, which may result in additional financial or procedural burdens.

2- The Minister of Finance issued Resolution No. (212) of 2022 suspending the payment of value-added tax on machinery and equipment imported from abroad for factories and production units for a period of one year from the date of its release (May 2022), and dropping the tax immediately after the start of production, as well as on goods or services that are exported abroad or imported by economic zone projects of a special nature.

3- Reducing the import tax on more than 150 types of production supplies and inputs to stimulate national industry (June 2022).

4- Allocating 1.1 billion pounds in the budget (2022/2023) to complete the facilities of 13 industrial complexes in the governorates, allocating 5 billion pounds to support electricity for industrial sectors, and allocating 3 billion pounds as part of huge financial incentives that were announced to deepen the automotive industry in Egypt, starting from the current fiscal year in particular to encourage the transition to using gas and electricity.

5- The government periodically follows up on the implementation of the 100 measures to stimulate investment in the industrial sector (July 2022), of which 81 measures have been implemented, according to a precise timetable, while the remaining 19 measures are under implementation.

6- Preparing a new system of procedures to facilitate the issuance of licenses for industrial facilities, in accordance with Law 15 of 2017 (July 2022), and according to these procedures, the General Authority for Industrial Development, on behalf of the investor, will coordinate with the relevant authorities to issue all approvals and permits.

7- Suspension of the real estate tax, as of January 1, 2023, for a period of 3 years for 19 industrial sectors, in accordance with Prime Minister’s Resolution No. (61) of 2022 (August 2022), at an expected total cost of about 3.3 billion pounds.

8- Issuing Law No. (153 of 2022) to exceed 65% of late fines or interest and the additional tax on arrears of taxes, customs, and real estate tax, on the condition that the original tax is paid before the end of August 2022, and the remaining 35% that has not been waived is paid no later than 1 March 2023.

9- The issuance of Prime Minister’s Resolution No. (3308 of 2022) regarding procedures for the immediate allocation of industrial lands at fixed prices according to the cost of facilities.

10- The committee formed pursuant to Prime Minister’s Decision No. (2067 of 2022) will collect, study, and take the necessary measures for the immediate allocation of the attached industrial lands to investors after they complete the required documents (September 2022), provided that the disposal of the industrial lands is based on the (ownership-usufruct) system.

11- Launching the Egyptian Industries Development Initiative “Ibdaa” [which translates to start] to support and localize national industries to rely on the local product and reduce imports (October 2022), by enhancing the role of the private sector in localizing many large, medium, small and micro industries, while providing a number of incentives in the form of Land, tax exemptions, etc.

12- 126 high-risk advance industrial licenses were issued during the period (October 2022 – February 2023) by the Industrial Development Authority. As of February 2023, 8 consulting offices were approved to evaluate facilities’ compliance with standards, and the Environmental Affairs Agency issued more than 177 environmental approvals during the period from (October 2022-February 2023), and environmental approval is issued within 7 days.

13- The state’s public treasury bore more than 590 million pounds, the value of the “Green Incentive” as part of the presidential initiative to replace vehicles (November 2022), and more than 24,000 citizens benefited from it until November 2022.

14- Launching the unified digital Egypt Industrial Platform for industrial services and licenses, which witnessed the digitization of 381 services until December 2022 that are provided electronically.

15- The Ministry of Trade and Industry prepared the National Strategy for Industrial Development (2022/2023-2026/2027), which is based on attracting investments to deepen the industry by targeting priority industrial sectors in which Egypt has a manufacturing base, opportunities and competitive advantages.

16- Preparing a list of (152) investment opportunities for industrial products that can be manufactured locally instead of importing them from abroad, based on identifying 131 customs items that can be manufactured locally. These products represent a good opportunity for companies wishing to deepen local manufacturing and reduce dependence on the products. Imported to enhance the productive capabilities of industrial facilities and improve their resources.

17- Approving a package of facilitations and incentives for industrial projects for which lands or industrial units have previously been allocated by the Industrial Development Authority (session No. 226 dated January 25, 2023), the most important of which is granting a period of 6 months to industrial projects within the implementation timetable, whether during the extraction phase.

18- Pricing industrial lands in the Republic and determining the method of dealing with them, whether through ownership or usufruct.

19- Completion of the establishment of 17 industrial complexes with 5,046 factories in 15 governorates. Procedures were also facilitated and these areas were facilitated, and the cost of connecting facilities was paid in installments so that operation could begin immediately.

20- Inventorying 49 committees of all the troubled factories, and working to solve the causes of their failure through financing, participation in marketing work, or other procedures, which led to a number of factories returning to work again, and coordination is being made with the rest of the troubled factories in order to solve their problem, as There is a unit that facilitates the establishment of industrial complexes or factories for the new investor, and facilitates obtaining licenses in light of coordination between various parties in Egypt.

Source:https://www.egypttoday.com/Article/3/127161/Highlight-20-decisions-to-increase-industrial-investment-in-Egypt

The Egyptian Ministry of Industry is currently approaching the preparation of the national strategy for industry, which focuses on attracting investments to deepen the industry.

The ministry is targeting prioritizing industrial sectors in which Egypt has an industrial base, opportunities and competitive advantages at the regional and global levels.

The strategy aims to achieve a number of goals by the fiscal year 2026/2027, the most important of which is increasing the industry’s share of the GDP reaching 20% and the export growth rate reaches between 18-25% annually.

An analysis of Egyptian imports was conducted over 4 consecutive years and a number of priority industries were identified on which other industries depend.

A total of 152 investment opportunities were identified, including 92 opportunities to manufacture production requirements for the Egyptian industry to ensure the sustainability of supply chains.

This project was started by allocating 160 plots of land. Its area is about 1.252 million square meters, with an investment of 17 billion pounds, and an expected workforce of 26 thousand workers.

A number of strategic industries were identified to be granted exceptional incentives to attract global industrial entities. The value-added chains of these industries were analyzed to determine raw materials and their availability in Egypt.

The Ministry also identified new investment incentives to be granted to these industries, which include tax exemptions and the recovery of a percentage of the value of the facilities in the event of completion. of the project in half the scheduled period.

Source:https://www.egypttoday.com/Article/3/127435/Egypt-adopts-new-strategy-to-increase-industry%E2%80%99s-contribution-to-