Latest news with #SustainableDevelopmentStrategy
Daily News Egypt
3 days ago
- Business
- Daily News Egypt
China's Sunrev to invest $200m in solar component industrial complex in Egypt's Sokhna
Prime Minister Mostafa Madbouly witnessed on Wednesday the signing of a contract to establish an integrated industrial complex for the production of solar energy components in Ain Sokhna's industrial zone, part of the Suez Canal Economic Zone (SCZONE). The project will be developed by Chinese firm Sunrev Solar. The contract was signed by Cao Hui, Managing Director of TEDA, and Qi Fei, Managing Director of Sunrev Solar, in the presence of Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir, and Chairperson of SCZONE Walid Gamal El-Din. The project will involve the construction of two integrated factories in its first phase: one for producing solar cells and another for solar modules, each with a capacity of 2 gigawatts. The second phase will focus on localising the production of key raw materials—such as silicon ingots and wafers—completing the full solar component value chain. Prime Minister Madbouly highlighted the strategic advantages of SCZONE in attracting diverse investments, especially in renewable energy. He reiterated the government's commitment to localising new and renewable energy technologies and providing incentives to support their growth. SCZONE Chairperson Walid Gamal El-Din described the project as one of the zone's largest industrial investments in renewable energy components. Spanning 200,000 square metres, the project will see a total investment of $200m—$90m for the first phase and $110m for the second. It is expected to create over 1,800 direct jobs across both phases and generate annual export revenues of up to $300 million. The foundation stone will be laid on Thursday, with the first phase scheduled to begin operations in the first half of 2026. Gamal El-Din emphasised that the project reflects the confidence of major international investors in SCZONE's business climate and supports the authority's broader strategy to localise advanced industries and integrate solar energy production chains—from raw materials to finished products. He reaffirmed SCZONE's commitment to providing all necessary support to ensure the project's timely execution. Sunrev Solar is one of the world's leading manufacturers of solar energy components. This investment aligns with Egypt's national strategy to transition to a green economy, promote clean energy industries, and advance the goals of Egypt's Vision 2030 and Sustainable Development Strategy.
Daily News Egypt
15-05-2025
- Health
- Daily News Egypt
Egypt stresses human capital investment as pillar of sustainable development
Egypt's Deputy Prime Minister for Human Development and Minister of Health, Khaled Abdel Ghaffar, has emphasized the central role of investing in human capital to achieve inclusive and sustainable national development. He also called for fostering a stronger sense of civic responsibility among youth to ensure their active participation in decision-making. Abdel Ghaffar made his remarks during the periodic meeting of Egypt's Ministerial Group for Human Development, which he chaired. The session was attended by several cabinet members, including Ministers of Youth and Sports, Social Solidarity, Justice, Endowments, and Local Development, as well as deputy ministers and senior advisors. At the outset of the meeting, Abdel Ghaffar underscored the importance of coordinated ministerial efforts in advancing Egypt's Sustainable Development Strategy – Vision 2030. He highlighted the transformative potential of artificial intelligence and digital transformation in enhancing productivity and reducing operational burdens, calling for proactive readiness for these emerging trends. He stressed the need to improve Egypt's Human Development Indicators (HDIs), which remain a national priority across sectors including health, education, and social protection. 'Analyzing HDI data helps direct development policies and programs efficiently,' he said, citing efforts to empower youth and women and improve quality of life. Abdel Ghaffar reviewed joint governmental initiatives to modernize Egypt's education system at all levels, from pre-university to higher education. He also addressed legislative proposals aimed at combating challenges such as school dropouts, child labor, early marriage, violence, bullying, and discrimination against people with disabilities—issues with wider implications for population dynamics and societal stability. He further emphasized the need to equip youth with both technical and soft skills to reduce unemployment, foster economic growth, and sustain sectors heavily reliant on skilled labor. Youth and Sports Minister Ashraf Sobhy showcased the ministry's efforts in talent discovery, skill-building, and youth empowerment through a broad range of programs. He stressed the necessity of cross-sectoral coordination to achieve national development goals. Minister of Social Solidarity Maya Morsy presented her ministry's initiatives to extend social protection to vulnerable groups and connect them with vocational training and empowerment programs, ensuring their effective integration into society. Justice Minister Adnan Fanjari called for long-term strategies that address all age groups, stressing that consistent follow-up is crucial to achieving tangible results. Minister of Endowments Osama El-Azhari highlighted the ministry's commitment to 'human development through values,' announcing an upcoming launch of a digital platform that will offer educational and spiritual content, interactive videos, children's games, and a GPT-based chatbot. He welcomed collaboration between this platform and the national human development platform to align awareness messages and amplify societal impact. Local Development Minister Manal Awad emphasized the vital role that Egypt's governorates play in translating human development plans into local action, underscoring the importance of customizing programs to address region-specific needs and maximize available resources.
Zawya
22-04-2025
- Business
- Zawya
MDP sets new standards for austainability across Africa with Mastercard certification
In line with Mastercard's Sustainable Card Program launched in 2018, MDP is the first card issuer to acquire the sustainability badge in Egypt. This is not the first initiative undertaken by MDP in its commitment to fostering a sustainable financial ecosystem. Previous efforts have included the launch of the Carbon Calculator solution, which serves as a critical step toward a low-carbon, regenerative economic future. The Carbon Calculator empowers users by providing an estimate of their carbon emissions, enabling them to make more informed purchasing decisions and contribute to a more sustainable world. Building on this commitment, MDP is also addressing another environmental concern which is the widespread use of plastic payment cards. Traditionally, plastic cards have dominated payment options, with over 3 billion plastic payment cards shipped worldwide each year. However, recent trends reveal that consumers are increasingly conscious of their environmental impact. MDP is leading the charge in addressing these concerns by offering certified recycled PVC (rPVC) card bodies, transforming standard payment options into a lower-impact alternative. This initiative not only promotes environmentally conscious choices among financial institutions but also plays a crucial role in reducing plastic waste and pollution. 'As a leading card issuer across Africa, we continuously respond to evolving consumer demands. Our commitment to providing more sustainable card options, made entirely from recycled plastic, is a testament to this effort. By obtaining our recent Mastercard certification, MDP is setting the standard for a greener Africa. This certification is just one step in our broader journey with Mastercard toward a sustainable economy. We are dedicated to protecting our planet through environmentally conscious card production, reducing our carbon footprint, and offering our Carbon Calculator solution to help users monitor their carbon footprint' explained Ahmed Nafie, CEO of MDP. MDP's attainment of the Card Eco Certification mark reflects its commitment as a card issuer to the use of more sustainable materials in card manufacturing. By joining forces, MDP and Mastercard are fostering a more sustainable, regenerative economic future by embedding sustainability into the heart of business and embracing innovative payment solutions that contribute to preserving our priceless planet. The launch of MDP's certified recycled PVC cards and the Carbon Calculator program aligns with Egypt's Sustainable Development Strategy - Vision 2030, aiming to elevate standards of sustainable economic development and enhance quality of life by encouraging individuals and businesses to contribute to a more sustainable society. About MDP: MDP is the leading card-issuing platform. It enables businesses to roll out their financial solutions with end-to-end payment infrastructure offerings – from personalized card production to financial transaction processing and digital payment solutions. MDP has been well-positioned in the market for more than 30+ years and is acknowledged for accelerating payment experiences through a tech-driven approach. MDP embraces the global adoption of innovative, scalable, and secure emerging fintech solutions that provide seamless omni-channel customer experiences. MDP is headquartered in Cairo, Egypt, and has an extended footprint in more than 40 countries globally. About Mastercard: Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
Fibre2Fashion
22-04-2025
- Business
- Fibre2Fashion
Egypt & China sign Red Sea Petrochemicals design contracts
Prime Minister Mostafa Madbouli attended Thursday 17/4/2025 the signing ceremony of a package of contracts awarded to the Egyptian-Chinese joint venture tasked with executing the basic design works for phase one of the Red Sea Petrochemicals Complex in Ain Sokhna. Egypt signed contracts with a joint Egyptian-Chinese venture for phase one design of the Red Sea Petrochemicals Complex in Ain Sokhna. The project supports Egypt Vision 2030, focusing on sustainability, industrial localisation, and economic growth. Construction is set for 2026, following cost estimation and financing after the design phase. The agreement involves the Red Sea National Petrochemicals Company, China National Chemical Engineering Co., Ltd. (CNCEC), ENPPI, and Petrojet. Located 10 kilometers from Sokhna Port, the project aims to produce a range of petrochemical products through an advanced oil refinery and steam cracking units, enabling the production of ethylene and propylene. The initiative aligns with Egypt's efforts to drive a green transformation in the petrochemical sector, enhance environmental sustainability, reduce the carbon footprint, and promote energy efficiency, all in line with the Sustainable Development Strategy and Egypt Vision 2030. The project also supports the national agenda of localizing industry and increasing value-added contributions to the economy to boost investor and financial institution confidence, helping to secure funding for subsequent implementation phases, while improving the project's ability to adhere to timelines and achieve strategic goals. Completing the design phase will allow for a more precise estimation of the project's actual cost, an essential step toward securing the required financing and achieving financial closure, paving the way for construction to begin in 2026 and the launch of commercial operations thereafter. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Middle East
17-04-2025
- Business
- Middle East
OPEN// Egypt signs key contracts for phase 1 of Red Sea petrochemicals complex
CAIRO, April 17 (MENA) - Prime Minister Mostafa Madbouli attended Thursday the signing ceremony of a package of contracts awarded to the Egyptian-Chinese joint venture tasked with executing the basic design works for phase one of the Red Sea Petrochemicals Complex in Ain Sokhna. The agreement involves the Red Sea National Petrochemicals Company, China National Chemical Engineering Co., Ltd. (CNCEC), ENPPI, and Petrojet. Located 10 kilometers from Sokhna Port, the project aims to produce a range of petrochemical products through an advanced oil refinery and steam cracking units, enabling the production of ethylene and propylene. The initiative aligns with Egypt's efforts to drive a green transformation in the petrochemical sector, enhance environmental sustainability, reduce the carbon footprint, and promote energy efficiency, all in line with the Sustainable Development Strategy and Egypt Vision 2030. The project also supports the national agenda of localizing industry and increasing value-added contributions to the economy to boost investor and financial institution confidence, helping to secure funding for subsequent implementation phases, while improving the project's ability to adhere to timelines and achieve strategic goals. Completing the design phase will allow for a more precise estimation of the project's actual cost, an essential step toward securing the required financing and achieving financial closure, paving the way for construction to begin in 2026 and the launch of commercial operations thereafter. (MENA) M S H/S R E
