News / Government

Arab Contractors Finalizes 90% of NAC’s Parliament Building

Arab Contractors' Chairman Mohsen Salah has revealed that 90% of the concrete works at the New Administrative Capital's (NAC) parliament building, located in the new city's government district, has been completed.

New Aswan Sees EGP 2 bn Investments Until Mid-2018: Official

Ahmed Rashad, head of New Aswan City Authority, said that investments worth roughly EGP 2 bn have been injected into the new city until June 30, 2018.

Real Estate Tax Law Will Soon be Finalized: Finance Ministry

The Ministry of Finance announced on February 10 that the proposed amendments to the current real estate tax law will soon be finalized.

Over 9,000 Factories Licensed in H1 2018/19: Minister

About 9,972 Egypt-based factories had received constructing and operating licenses, and temporary operating permits (TOPs), based on the latest report Minister of Trade and Industry Amr Nassar has received on the performance indicators of the Industrial Development Authority (IDA) for H1 of FY 2018/19.

Three Consortiums Vie to Develop Dry Port in West Cairo

The Egyptian finance ministry has revealed that three international consortiums are competing to win a contract for the construction of a dry port, west Cairo, with investments expected to exceed USD 100 mn.

Madbouly Visits New Alamein for Latest Updates

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly revealed on February 9 that 15 41-story residential towers are currently under construction in New Alamein's coastal towers area.

Work on NAC Sports City is in Full Swing: Minister

Minister of Youth and Sports Ashraf Sobhy has visited the 93-acre Sports City project at the New Administrative Capital (NAC) to follow up on progress of work at the site.

Egypt’s Foreign Reserves Rise to USD 42.6 bn by January-End: CBE

The Central Bank of Egypt (CBE) announced on February 5 that net foreign reserves rose to USD 42.616 bn by the end of January 2019, compared to USD 38.2 bn in the prior-year period.

Emirates NBD Egypt PMI Falls in January

The Emirates NBD Egypt PMI declined for the fifth month in a row in January 2019 to reach the lowest level since December 2017, yet above the series average.

Communications Ministry to Develop Technological Zone in Maadi

Prime Minister and Minister of Housing, Utilities, and Urban Development Mostafa Madbouly has issued a decree to authorize the communications ministry to establish a 75-acre technological area in Maadi, south Cairo, dedicated to activities related to the telecommunications industry.

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