Dear followers everywhere, welcome to a new analysis of the most important reports and analyzes presented by the Banker Research Unit around the clock today, Thursday, November 28, 2024, on our various electronic platforms.
Today, Banker platforms presented various reports on the economic affairs in Egypt, all of which confirm that the Egyptian economy is on the right path.
Starting with the investment sector, the entry of Qatari money into the development line in the Egyptian market, and the implementation of Qatari projects that will turn the situation around on the North Coast.
The report said that, according to leaks obtained by Banker Egypt and Qatar, there are strong discussions to develop investment cooperation, especially in huge projects on the North Coast. This is not strange when you know that the North Coast has remained one of the most important centers of investment attraction in the Middle East.
The report noted that Prime Minister Dr. Mostafa Madbouly announced that there was a direct request from the Qatari side to invest in the tourism and hospitality sectors in the region. The Egyptian government, in turn, once again welcomed this desire and confirmed its readiness to support cooperation as soon as possible.
The report explained that there are also major negotiations surrounding the development of Egyptian ports and the establishment of advanced logistics areas. The Qatari side has shown a clear interest in investing in these areas as part of its plan to expand the global logistics infrastructure.
The report shed light on the timing of the entry of Qatari money to invest in Egypt and said that the reason is the economic developments that have occurred in Egypt recently, such as the liberalization of the exchange rate, which opened the door to new foreign investments. This has led international and Arab companies to take bold steps to acquire huge projects such as the ” Ras Al-Hekma, which the UAE entered with investments of $35 billion.
The Banker Research Unit also presented a special and different report on Arab support for Egypt, especially in the investment market
The report said that Egypt and its Arab brothers have strong historical relations that extend over hundreds of years, and in every crisis, the Arab and Gulf countries stand at Egypt’s back. At the same time, Egypt has never given up supporting its Arab brothers, whether on the political or economic level.
The report pointed out that this is why Egypt, along with Saudi Arabia, the Emirates, Qatar, and Kuwait, are implementing giant projects aimed at supporting the Egyptian economy.. And let us start with the Ras al-Hikma project between Egypt and the Emirates, a historic deal that reached 35 billion dollars.
Regarding the reason for the Arabs’ interest in investments in the North Coast and Ras El Hikma region in particular, the report revealed that the secret is that it has the most beautiful beaches in the world and there is a plan to transform the region into a global city competing with the most important tourist destinations in the world… But more importantly than that, the UAE does not only invest in buildings, but it participates in Building the future of tourism in Egypt
The Banker report explained that this is not the first strategic cooperation between Egypt and the Emirates, because there are solar and wind energy projects worth billions of dollars that enter the national grid.
The report turned to Saudi investments in Egypt and pointed out that the volume of trade exchange between the two countries reached record numbers exceeding 48 billion riyals, but this is not just traditional trade exchange. There are new agreements signed to pump investments worth $15 billion. Here we are talking about vital sectors such as renewable energy, industry, real estate development, and technology.
Banker platforms presented a special report on the Egyptian pound and its strong return against the dollar in the coming days
The report explained that in the past months, dollar cash flows have increased significantly, and this is the result of thoughtful economic planning… and the Central Bank is working intelligently to improve exchange policies.
Banker explained that Egypt has become a major destination for foreign direct investment. The numbers indicate that we have seen a noticeable increase in investments entering the country, whether in the sectors of renewable energy, infrastructure, or even technology.
The report pointed to the decision of international companies to build factories and operating centers in Egypt, which means more job opportunities and more money entering the economy.
The report highlighted the rise in tourism indicators, from the first new hotels to the attention to detail that makes tourists come back and talk about Egypt in a different way, and all reports say that tourism has achieved historic numbers and the number of visitors has reached levels that have not been achieved in years.
The report also pointed out that remittances from Egyptians abroad increased significantly in recent days
The last report in today’s analysis also talks about new investment projects, but this time in the Suez Canal Economic Zone
The report pointed out that Walid Gamal El-Din, head of the Suez Canal Economic Zone, witnessed today the inauguration ceremony of the cornerstone of the “CNG Egypt New Energy Glass” project, affiliated with the China Glass Holding Company, in the industrial zone in Sokhna, within the scope of the industrial developer “TEDA-Egypt.”
The report said that the project aims to establish a flat glass production line with a capacity of 1,000 tons per day, and a production line for photoelectric glass with a capacity of 800 tons per day, on an area of 500,000 square meters, with a total investment of $300 million, and to provide 1,000 job opportunities by the completion of the project.
