Day: May 23, 2022

Minister of State for Military Production Mohamed Ahmed Morsi had talks on Monday with a Brazilian delegation under Marcos Digot, National Secretary for Military Production at the Brazilian Ministry of Defense.

They discussed means to cement defense cooperation between the two countries.

Morsi affirmed that his ministry has been working to meet the needs of the Armed Forces and police of ammunition and military equipment, saying the production surplus was channeled to civilian industries needed in national development projects.

The two sides reviewed the manufacturing, technological and technical capabilities of companies affiliated to the military production ministry and also discussed cooperation with Brazilian companies.

Minister Morsi asserted that his ministry is interested in benefitting from the expertise of Brazilian companies in many fields, pointing out the ministry has been working on supporting the local industry and transferring the most advanced technology to the military industrialization fields as part of the directives of President Abdel Fattah El Sisi to increase investment opportunities and exchange expertise.

For his part, Digot described Egypt as historic and strategic partner to Brazil saying the two countries continuously cooperate in the field of economy.

The Brazilian military official stressed the importance of activating cooperation with the military production ministry as an important arm for Egypt’s industry.

He hailed the production lines of the Egyptian ministry’s companies and shed light on the importance of encouraging Brazilian companies to invest in Egypt and the Arab and African regions.

 

 

 

Source: State Information Service Egypt

Foreign Minister Sameh Soukry discussed with CEO of Boston Consulting Group (BCG) Christoph Schweizer means to raise money for climate and the role of the private sector in the intentional climate action.

 

The meeting was held in Davos on the sidelines of World Economic Forum hosted in Switzerland, Spokesman for the Foreign Ministry Ahmed Hafez tweeted.

 

 

 

 

Source: State Information Service Egypt

Finance Minister Mohamed Maait has warned that “millions” could die globally because of the food price crisis triggered by the Ukraine war, echoing warnings made by the UN and G7 countries as worries about a worldwide wheat shortage intensify.

 

In an interview with the Financial Times during a visit to London, Mohamed Maait warned of “food insecurity” around the world. However, he insisted Egypt had enough wheat to last until the end of the year.

 

“This is something that we have to be very careful about,” said Maait. “We will feel shame if we find that millions of people are dying because of food insecurity. They are not responsible for that, they didn’t do anything wrong.”

 

Maait also told the FT he was confident Egypt would not fall into recession this year. “The issue of going to recession, I’m ruling [it] out,” he said. “Egypt was one of the few countries able to grow positively over the two years of Covid-19.”

 

The government is predicting 5.5 per cent growth in the fiscal year that starts in July.

 

The minister was optimistic that a new three-year funding package, requested by Cairo in March, would be agreed with the IMF. Discussions with the fund were “going very well”, he said. No figure had yet been suggested by the government or by the IMF, he added.

 

Maait said the government was still planning to “rationalize” bread subsidies, which cost more than $3bn annually — a prospect raised before the outbreak of the Ukraine conflict but which has been delayed.

 

“So as long as the cost of bread and the cost of producing bread increases, so the cost of subsidy on the budget increases . . . It cannot go like that,” he said. Altering bread subsidies was “not an imminent action”, but “the intention to move is there . . . over a gradual basis”.

 

Maait said Cairo also planned to reform the cash credits received by millions of Egyptians for food, streamlining the list of those eligible to ensure only the needy received them.

 

Egypt is hosting the UN COP27 climate summit this year and Maait said the country would be issuing new national climate targets, and a new green funding plan, in the coming weeks.

 

 

 

Source: State Information Service Egypt

President Abdel Fattah El Sisi ordered maximizing local components of green hydrogen production system, with special focus on electrolyzers, as a milestone of this industry.

 

President Sisi’s remark was made during a meeting with Prime Minister Moustafa Madbouli, Minister of Electricity and Renewable Energy Mohamed Shaker and Chairman of the General Authority of the Suez Canal Economic Zone Mohamed Yehia Zaki on Monday.

 

The president also directed to increase capacities of wind turbines by installing ultra-high efficiency turbines, with large generation capacities.

 

The move is meant to maximize the utilization of wind energy in several geographical locations nationwide, said Presidential Spokesman Bassam Radi.

 

Radi said the meeting discussed ways of following up on green hydrogen production projects in the country.

 

It also touched on cooperation with international experts in generating green hydrogen energy by using renewable energy, including global companies within the framework of the national strategy of increasing the supply of electricity generated from renewable sources to reach 42%, the spokesman added.

 

Egypt has different renewable energy sources, such as wind and solar energy, he noted.

 

The president called for enhancing efforts in this regard in light of great worldwide interest in green hydrogen projects, as a promising source of clean energy in near future, he said.

 

Radi added the meeting reviewed mechanisms for strengthening and localizing green hydrogen and green ammonia projects in SCZone.

 

President Sisi also ordered all bodies concerned to promote ongoing efforts aimed at luring foreign investments in SCZone, especially in clean energy production.

 

 

 

Source: State Information Service Egypt

Minister of Higher Education and Acting Minister of Health Khaled Abdel Ghaffar has stressed the strength of relations between Egyptian and Lebanese peoples.

 

During a meeting with Lebanese Health Minister Firass Abiad in Geneva, Abdel Ghaffar said the Egyptian state is keen to continue providing support for the health sector in Lebanon.

 

The two ministers discussed means of promoting relations between the two countries to provide medicines for the Lebanese people and make use of Egypt’s successful efforts in the fields of presidential health initiatives and universal health insurance.

 

The Lebanese minister, for his part, praised the great achievements witnessed by Egypt in the health sector.

 

 

Source: State Information Service Egypt