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Economy Sector - Q4 2019 Report

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Economy Sector - Q4 2019 Report Economy Sector - Q4 2019 Report Economy 4 (2019) Report American Chamber of Commerce in Egypt - Business Information Center 1 of 59 Economy Sector - Q4 2019 Report Special Remarks The Economy Q4 2019 report provides a comprehensive overview of the Economy sector with focus on top tenders, big List of sub-sectors projects and important news. Banking, Finance & Insurance Economy Tenders Section - Integrated Jobs (Having a certain engineering component) - sorted by - Generating Sector (the sector of the client who issued the tender and who would pay for the goods & services ordered) - Client - Supply Jobs - Generating Sector - Client Non-Tenders Section - Business News - Projects Awards - Projects in Pre-Tendering Phase - Privatization and Investments - Published Co. Performance - Loans & Grants - Fairs and Exhibitions This report includes tenders with bid bond greater than L.E. and valuable tenders without bid bond Tenders may be posted under more than one sub-sector Copyright Notice Copyright ©2019, American Chamber of Commerce in Egypt (AmCham). All rights reserved. Neither the content of the Tenders Alert Service (TAS) nor any part of it may be reproduced, sorted in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of the American Chamber of Commerce in Egypt. In no event shall AmCham be liable for any special, indirect or consequential damages or any damages whatsoever resulting from loss of use, data or profits. American Chamber of Commerce in Egypt - Business Information Center 2 of 59 Economy Sector - Q4 2019 Report Banking, Finance & Insurance - Non Tenders Section Type Description Date Published Business News IBRD predicting Egyptian Expatriates Transfers (from abroad) to reach by the end of 2019 about $ 26.4 billion driving Egypt to rank 5th world wide in terms of receiving/ Dec 06, 2019 attracting such transfers from its own expatriate's world wide. Other four front runners include India, China, Mexico & Philippine. IBRD revealed the said transfers totaled in 2019 $ 551 billion, up by 4.7 % from their level in 2018 and are expected to reach $ 591 billion in 2021. Both Ministries of Electricity and Environment have received a load of proposals to establish waste-to-energy projects after the cabinet approved the feed-in tariff for Nov 03, 2019 such projects. Total investment bids received from Arab and foreign companies amounted to $2bn. A government source told Daily News Egypt that bidding companies included Entag, Egyptian Company for Solid Waste Recycling (ECARU), Empower Energy, Global Knowledge Company (GKC), China Power International Development, Recovered Energy Group, Intro Group, Shanghai Electric, and others. The cabinet set the feed-in tariff for waste-to-energy projects at 140 piasters per kW/h. The tariff will be payable in EGP and will remain in place for 25 years. Under the tariff decision, the governorate in which the project is set up will pay 103 piasters per kW/h, while the remaining 37 piasters will be paid by sanitation organisations falling under the Environment Ministry’s jurisdiction. According to the cabinet’s decision, the land of the project will be allocated by the hosting governorate on a usufruct scheme. Furthermore, each governorate – where the plant is located – will be responsible for providing the needed waste for the plant free of charge. Khalid Al-Farra, a consultant for the waste-to-energy tariff, said the 140 piasters tariff set by the cabinet is feasible. According to the technical and financial studies upon which the tariff was determined, it is attractive and very encouraging for investment, and took into account the interests of both the state and investors, he added. Ehab Tahoun, chairperson of the South Korea’s GKC Group, said the government-approved tariff is encouraging and attractive for investment, and opens the way for companies to invest heavily in this sector. The group aims to enter a waste-to-energy project with $225m investment in the first week of December, he revealed. Tahoun explained that the target project’s incineration capacity will reach 600 tonnes of waste per day, adding that the project will be financed by a Saudi investor. GKC also aims to establish 10 power plants in Egypt in the coming period. Hatem El Gamal, chairperson of Empower, said his company aims to launch four waste-to-energy plants in Egypt with investments up to EGP 400m. UK investments in Egypt Increased to $ 47.8 billion divided on 1,817 companies. That was announced by Ms Dr. Sahar Nasr, Minister of Investment & International Dec 01, 2019 Cooperation, inviting the UK business society to benefit from the development. That came during a meeting of the Minister attended by Eng. Yehia Zaki, Chairman of the Suez Canal Authority Economic Zone. Loans & Grants European Investment Bank extending Euro 500 million loan for three years to Banque Misr to finance small & medium sized projects. This is the second time the Dec 01, 2019 European bank extends such a facility to the Egyptian Bank. Projects in Pre-Tendering Phase .A delegation of Abu Dhabi Holding for Development is scheduled to visit Egypt to launch a joint strategic body identified as Tharaa - an integral joint strategic Dec 15, 2019 investment fund managed by Egypt & the UAE valued $ 20 billion. Economy - Non Tenders Section Type Description Date Published American Chamber of Commerce in Egypt - Business Information Center 3 of 59 Economy Sector - Q4 2019 Report Economy - Non Tenders Section Type Description Date Published Business News The Information Technology Industry Development Agency (ITIDA), in collaboration with RiseUp enterprise, announced the winners of the African App Launchpad Cup Dec 08, 2019 on Saturday, the last day of RiseUp Summit 2019, held at the American University in Cairo (AUC). Agora, Bouita, Arcanium Studios, 247Medic, Find Me Football and Alkottab Game Studio received a total of $60,000 in cash prizes divided per each track -- gaming and application development tracks -- to help build and grow their businesses. The selected startups were chosen from a group of 28 finalists who belong to more than nine countries from across Africa. For the gaming track, Agora from Egypt won the first prize, worth $15,000, while Alkottab Game Studio walked away with $10,000 for the second prize and Arcanium Studios came third, winning $5,000. For the application development track, Bouita from Algeria won the first prize of $15,000, while the second and the third prize were equally shared between Find Me Football from Egypt and 247Medic from Nigeria, winning $7,500 each. ITIDA vice president, SECC chairman and TIEC Chairperson Hassan Othman said that all the competing ideas were innovative and across diverse industries such as health, sports, and tourism, adding that there were a lot of creative ideas from Nigeria, Algeria, and Egypt. "We would like to thank Egypt for hosting the first of a kind competition in Africa and praise the government’s role in supporting entrepreneurship across Africa," the statement read. “We were impressed when we saw how the entrepreneurship scene across Africa is generating innovative ideas like what we saw at the pitch competition today. Collaborating with ITIDA on the African App Launchpad Cup is another step that we believe will widen the opportunities we are offering to the startups through the RiseUp summit, ”Abdel-Hamid Sharara, co-founder and CEO of RiseUp, said. The winners got a chance to join an accelerator programme and were granted exhibition spaces during the RiseUp Summit, in addition to certified training grants for all teams through the African App launch pad. Sherif Badawy, project manager and product owner at Arcanium Studios, the third winner at the game track, said he was pleased that the Egyptian community and the government are now focusing on game development in Egypt. “This will give us a wide platform and opportunity to succeed,” Badawy added. Meanwhile, Amr Kamel, managing director of 5D, and one of the competition’s judges, said it has been a very interesting competition, as it witnessed some strong applications and propositions, both from Africa and Egypt. "It makes us very proud to see the young generation and what they are capable of. I think it was quite hard to choose the winners but it was successful in terms of people’s choices," he said. ITIDA collaborated with RiseUp to launch the pitch competition in Africa a few months ago. The competition invited startups working in either gaming or application development from nine different African countries to participate in the contest that offers grants totalling $60,000. The competition is part of the Africa App Launchpad, a presidential initiative that targets building the capacity of 10,000 learners and establishing 100 startups while positioning Egypt as a hub for startups in Africa by gathering some of the continent’s best startups in one place. This year, over 190 startups applied to present at the pitch and 30 were selected from countries including Egypt, Nigeria, and Ghana. American Chamber of Commerce in Egypt - Business Information Center 4 of 59 Economy Sector - Q4 2019 Report Economy - Non Tenders Section Type Description Date Published Business News Ministers of local development, investment and international cooperation, environment and transport held a meeting with a mission of the World Bank under WB Country Oct 07, 2019 Director for Egypt Marina Wes on combating pollution and managing solid waste project. There are 3,500 buses roaming the streets of Cairo in addition to small buses that are operated with gasoline or diesel which pollute the air, Minister of Local Development Mahmoud Shaarawy said. Within five years, these vehicles will be operated by natural gas to decrease greenhouse gas emissions, he said, adding that taxis will be operated by natural gas as well.
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