Economy Summary today, Friday 16-9-2022… The allocation of 36 plots of land in 12 cities

Today, Friday 16-9-2022, witnessed a large number of important economic news, whether local or international, most notably the allocation of 36 plots of land in 12 new cities by the Ministry of Housing, with 1,428 companies applying to join the fifth phase of the “immediate cash payment” initiative to support the government for exporters during the first two weeks.


Housing: Allocating 36 plots of land in 12 cities to establish an integrated urban project

The New Urban Communities Authority’s board of directors agreed to allocate 36 plots of land in 12 new cities, to establish an integrated urban project, a hospital, a school, and a club, in addition to residential, commercial, administrative, industrial, educational, and recreational activities, among others.

Assem Al-Jazzar, Minister of Housing, said that 8 plots of land were allocated in the city of New Cairo for commercial, administrative, and residential activities, and in the Tenth of Ramadan City, two plots of land were allocated with industrial activity, and in the city of October 6, 4 plots of land were allocated with activities (hospital). – Medical – industrial services – commercial), and in Badr City, 4 plots of land were allocated for activities (commercial – commercial administrative – hotel housing), and in Obour City, a plot of land was allocated for residential and commercial activity, and in Sadat City, 3 plots of land were allocated , with activities (commercial, administrative, residential – service station and car catering – industrial).


Finance: 1,428 exporting companies applied to disburse the dues of export support

The Ministry of Finance announced that 1,428 companies applied to join the fifth phase of the “immediate cash payment” initiative to support the government for exporters during the first two weeks, in a way that reflects the keenness of the exporting community to benefit from this initiative, which contributes to providing sufficient cash liquidity, to deal flexibly with the repercussions of the intertwined global economic crisis. .

Dr. Mohamed Maait, Minister of Finance, affirmed his keenness to facilitate procedures for benefiting from the initiatives presented by the government to ensure the provision of cash necessary to turn the wheel of production and stimulate the export sector, in order to achieve the presidential mandate to reach the volume of Egyptian exports to 100 billion dollars annually, and to enhance the competitiveness of Egyptian products in global markets. Promoting the national economy, raising growth rates, attracting new investments, and maximizing public revenues to achieve comprehensive and sustainable development in various sectors, according to a report by the Media Observatory of the Ministry of Finance on the extent to which exporters are willing to participate in the fifth phase of the “immediate cash payment” initiative.

A Chinese company intends to establish a chemical plant in the Suez Canal Economic Zone

Li Mao’an, Chairman of the Board of Directors of the Chinese “Tianyi” Company, said that the company aims to establish a project to extract the chemical element “bromine”, which is used in the manufacture of (flame retardants), which in turn is used in several industries such as cosmetics, petroleum industries, textiles, and furniture paint materials. The project is based on the use of return water from the existing desalination plant in Sukhna with a capacity of 100,000 m 3 / day. from bromine.

He added that the company wants the economic zone to be a pioneer in such a project in the Middle East, especially as he visited a number of industrial zones in neighboring countries, and the company’s vision settled on choosing the economic zone of the Suez Canal to implement the project, and the company also plans to establish a salt production plant in the next phase. Coming after some studies on it.

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