Tuesday 03 Dec
Minister of Planning and Economic Development, Dr. Hala El-Said, has called for a study exploring potential collaboration between the sovereign fund and Tarboul Industrial City on green hydrogen projects.
The directive came during a meeting with Engineer Sharif
Hamouda, Chairman of Tarboul Industrial City's Board of Directors. Ayman
Suleiman, Executive Director of the Egyptian Sovereign Fund, and other
officials were also present.
The meeting focused on Tarboul Industrial City's progress.
Engineer Hamouda and his team highlighted key achievements over the past year,
including an increase in the number of planned factories to 1,500 and the
successful launch of the "Sana" initiative. The initiative, designed
to support small and medium-sized enterprises through simplified financing, has
benefited 2,800 factories with a target of reaching 10,000 by the end of the year.
Hamouda further reviewed green hydrogen projects underway that
have been implemented through several global alliances with investments of up
to $15 billion.
He also presented a plan for localizing electric car
production in partnership with Russian company Lada and Chinese company Faw.
Dr. El-Said commended Tarboul's achievements over the past
year. She emphasized that Tarboul exemplifies the success of the state's
structural reform program, which prioritizes private sector collaboration and
focus on real economy by increasing the size of industry, agriculture and
information technology in the national income.
The Minister also directed the development of a partnership
vision between the Egyptian Sovereign Fund, its sub-funds, and Tarboul City.
This vision aims to expand support initiatives for industry and small and
medium-sized enterprises.
