Egypt fast-tracks recycling plant to turn Suez Canal into 'green canal'    Global pressure mounts on Israel as Gaza death toll surges, war deepens    Egypt targets 7.7% AI contribution to GDP by 2030: Communications Minister    Irrigation Minister highlights Egypt's water challenges, innovation efforts at DAAD centenary celebration    Egypt discusses strengthening agricultural ties, investment opportunities with Indian delegation    Al-Sisi welcomes Spain's monarch in historic first visit, with Gaza, regional peace in focus    Cairo governor briefs PM on Khan el-Khalili, Rameses Square development    El Gouna Film Festival's 8th edition to coincide with UN's 80th anniversary    Egypt expands medical, humanitarian support for Gaza patients    Egypt condemns Israeli offensive in Gaza City, warns of grave regional consequences    Cairo University, Roche Diagnostics inaugurate automated lab at Qasr El-Ainy    Egypt investigates disappearance of ancient bracelet from Egyptian Museum in Tahrir    Egypt launches international architecture academy with UNESCO, European partners    Egypt signs MoUs with 3 European universities to advance architecture, urban studies    Egypt's Sisi, Qatar's Emir condemn Israeli strikes, call for Gaza ceasefire    Egypt condemns terrorist attack in northwest Pakistan    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Trade Ministry, IFC's delegation discuss development programmes to support industry, trade sectors
The two entities to implement joint programme to increase the competitiveness of Egyptian product in local and foreign markets
Shaimaa Al Aees Published in Daily News Egypt on 02 - 05 - 2019

Minister of Trade and Industry Amr Nassar said that the coming period will witness the implementation of a number of cooperation programmes between the Ministry and the International Finance Corporation (IFC) in a number of industrial and commercial sectors to increase their competitiveness and increasing the added value of Egyptian products to enable them to compete in local, regional and foreign markets.
The Minister met with IFC delegation headed by Walid Labadi country manager of Egypt, Yemen and Libya at IFC to discuss the current IFC's projects in Egyptian market and future projects that will be implemented in cooperation with the ministry in the coming period.
During the meeting, the two sides presented a number of current joint projects between the ministry and the IFC, the most important of which is the project to raise the efficiency of the use of electric motors in Egyptian industry, which aims to improve the competitiveness of Egyptian industry by reducing energy use and encouraging energy efficiency practices.
The minister added that the project includes the design of a package of policies and incentives to develop the efficiency of the use of electric motors in industry, pointing out that the project also includes increasing investment and promotion of local manufacturing of electric motors industry and increase the local component in manufacturing by focusing on the development of value chain for the manufacture of electric motors in Egypt.
Nassar explained that the ministry is currently discussing with the IFC a partnership project to strengthen the supply chain of alternative fuels in cement industry in Egypt with a focus on waste gas to create a better market environment for the implementation and development of alternative energy projects as part of the waste management system.
Walid Labadi country manager of Egypt, Yemen and Libya at IFC said that the corporation is the world's largest development institution that focuses directly on supporting and developing private sector in developing countries.
Labadi added that the IFC provides its financial resources, expertise, global experiences and innovative ideas to help its partners implement development projects that serve their national economies.
He noted that the financing of the project to raise the efficiency of electric motors used in the industrial sector in Egypt amounted to $2.3m for 3 years with a financial contribution from the IFC with the support of the Ministry of Trade and Industry.
Labadi disclosed that the IFC is currently working with the ministry on launching a new project in the agro-industry sector, in light of the sectoral strategies prepared by the Ministry.

Clic here to read the story from its source.