Egypt

Learn about the decisions of the Council of Ministers

The Council of Ministers approved the recommendations of the main committee stipulated in Article (8) of the Law Regulating the Construction and Restoration of Churches promulgated by Law No. (80) of 2016, regarding adjusting the conditions of some churches and buildings, which was held on October 21, 2024, for 293 churches and affiliated buildings.   Thus, the number of churches and buildings whose status has been approved to be regularized since the beginning of the committee’s work until now reaches 3,453 churches and affiliated buildings.

 

The Council of Ministers approved a draft decision to establish a private free zone under the name "YADA EGYPT YADA EGYPT" LLC to work under the system of private free zones, with its location located in the industrial zone in New Alamein City on an area of ​​208,003 square meters, to practice the activity of furniture manufacturing, with investment costs of 70 million euros. The company’s project provides employment opportunities amounting to more than 1,320 opportunities, and it also aims to The company exports 100% of the production volume, with the manufacturing relying on a local component of no less than 40% and up to 80%. The annual production volume is expected to reach 40 million pieces, and the project’s workers will be housed in New Alamein.

 

The Council of Ministers also approved granting the “Nets Land Agricultural Investment Company” LLC, one approval “Golden License”, for its project to establish and operate a factory for sorting, processing, grading, screening, packing, roasting and salting peanuts, pulp, nuts and snacks and producing pastes from nuts, as well as establishing and operating a station for processing, grading, sifting, packing and washing carrots and various agricultural products. With investment costs approaching 1.4 billion pounds, and providing about 4,000 job opportunities, on an area of ​​​​more than 136 thousand square meters located in Plot No. (2) in the industrial zone south of the second forest in the tenth of Ramadan city in Sharkia Governorate, the company aims to export no less than 80%. of the volume of production.

The Council of Ministers also approved the decisions and recommendations issued by the meeting of the Ministerial Committee for Resolving Investment Disputes, at its 107th session held on October 21, 2024, regarding 30 topics.

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The Council of Ministers approved the request submitted to the Ministry of Investment and Foreign Trade, regarding the establishment of a new project in the private free zone system, in the Sidi Kerir Petrochemical Factories Complex, in Alexandria Governorate, in the name of “Draschem Specialized Chemicals” Company. LLC to practice the activity of manufacturing and producing specialized chemicals, on an area of ​​157 thousand square meters. 

This project comes with the aim of developing and launching a pioneering investment project in the chemical industries, which reflects confidence in the Egyptian economy and the distinguished investment climate. The availability of all raw materials required for manufacturing, as well as trained labor, in addition to the advantages of Egypt’s unique location and the regional and international trade agreements to which Egypt is a party. The project is based on establishing a factory to produce sodium cyanide and its derivatives, making Egypt the first country in the Middle East and North Africa to localize this advanced technology, and contributing to providing more incentives and strategic and technical services to the mining industry as its activities increase. The project aims to achieve 100% local component and 100% export abroad. The expected annual production volume will reach 50 to 55 thousand cubic meters annually as a first phase, with plans to double production in the second phase. The investment cost of the project amounts to about 158.6 million dollars. It accommodates about 500 workers.

 

 

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  • Source of information and images “rosaelyoussef”

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