Suez Canal Economic Zone (SCZONE)’s Post

Trade Minister, global companies discuss expansion plans in Egyptian market Egyptian Minister of Trade and Industry, Ahmed Samir, has engaged in a series of meetings with officials from various global companies. These companies are either interested in investing in Egypt or expanding their existing investments within the Egyptian market. These discussions took place during the Egypt-EU Investment Conference 2024. Minister Samir emphasized the ministry’s commitment to supporting foreign companies operating in Egypt. The goal is to help them overcome challenges and facilitate their plans to meet local market demands and explore export opportunities. During the meeting, the minister reviewed the government’s plans to expand renewable energy production, noting that it was agreed for the company to begin preparing the project’s feasibility study through one of the specialized companies and exploring different sources of funding for the project. #egypt #trade #global Read more: https://lnkd.in/dVGd_WYB

☯ UAE African Interconnectivity 📈 In 2022 and 2023, the UAE pledged $97bn in new African investments across renewable energy, ports, mining, real estate, communications, agriculture and manufacturing — three times more than China. 📈 The number of African companies registered in Dubai has increased dramatically in the past decade, reaching 26,420 by 2022, according to the Dubai Chamber of Commerce. 📌 What’s driving this for the UAE, and of course for other Gulf countries as well, is the energy transition and the hard push for economic diversification. 📋 Commercially, clean energy is one area of interest. Over the past decade, Masdar, Abu Dhabi’s renewable energy investor, has built infrastructure including five wind farms in South Africa, a battery energy storage system in Senegal and solar power facilities in Mauritania. Masdar is leading UAE plans to invest $10bn to increase sub-Saharan Africa’s electricity-generation capacity by 10GW. 📋 But UAE companies are also investing in fossil fuels. In May, the Abu Dhabi National Oil Company bought a 10 per cent stake in Mozambique’s Rovuma gas basin, acquiring it from Portuguese energy company Galp for around $650mn. 📚 Emirati engagement with Africa fits into three broad, if overlapping, categories. The first is purely commercial, the second strategic and the third is a financial role, traditionally played by global centers such as London or Zurich, in which Dubai has become an attractive jurisdiction for Africans to trade, do business and park offshore money. Does Dubaï become the window of African business? 🤔

Egypt is listed one of top 10 developing economies in international investment in renewable energy. The UNCTAD’s World Investment Report 2023 features the Sharm El-Sheikh Guidebook, issued by Egypt on COP27's Finance Day. The report notes that Egypt is one of the top 10 developing economies in international investment in renewable energy from 2015 to 2022, references the country's efforts in introducing measures to report on sustainable development, and spotlights two mega projects: the Suez Canal Economic Zone Green Hydrogen Plant and the 400 MW Egypt Solar Powered Desalination Plant. The report was published last year for investment policy guidance lead by the Ministry of International Cooperation in collaboration with over 100 stakeholders. #ColdwellBankerAdvantage #CBCworldwide #realestate #realestatedevelopment #investment #economies #gdp #suescanal #egypt

Any investment in Africa is good news but what Africa really needs at the moment is investment in gas. The continent has loads of the stuff and it could power the region's industrialisation and lead to massive poverty reduction. However, it will not happen because the Western world's green movement has become way too powerful and is putting investors off backing what is really needed for Africa's economic progress. Around 48 African countries make a combined contribution of 0.5% to the world's greenhouse gas emissions. It really is miniscule. Sadly, green enthusiasts apply no proper cost-benefit analysis to what they preach.

'Unleashing the Power of Wind in Pakistan: A Fruitful Partnership with China' 🌍 Powered by green energy and fortified by resolute cooperation, Pakistan & China are charting a breath-taking journey together. Our latest article explores the enormous contributions this partnership has enabled. 🤝🇨🇳🇵🇰 From the Thatta district in Sindh province, where Chinese-technologically-advanced wind turbines sparkle in the sunlight, to Khyber Pakhtunkhwa, soon home to the tallest roller compact concrete dam in the world - signs of progress are in abundance. 🏗️🔌 Technology transfer, industrial collaboration, and thousands of jobs are seeping into Pakistan, largely due to China's Belt and Road Initiative. One fascinating success story lies in PowerChina’s wind power project portfolio in Pakistan. The result? 610 MW of installed capacity, over 20,000 jobs, and a whopping 2 billion kWh of clean energy annually, significantly reducing CO2 emissions. 🌬️🔋 And that's not all! The upcoming China-funded New Gwadar International Airport, Gwadar East-Bay Expressway and the Rashakai special economic zone will play a vital role in shaping Pakistan's future. Stay tuned! 🌇🛫 Read more about this transformative partnership in our latest article: [Insert URL here] #Pakistan #BRI #China #CPEC #GreenEnergy #Renewables #WindPower #SharedProsperity #SustainableDevelopment #Collaboration #Partnerships #Infrastructure #Gwadar #PowerChina #EconomicGrowth

Mauritania’s $34 Billion Green Hydrogen Project Highlights Africa’s FDI Momentum ◼ Foreign direct investment (FDI) flows to Africa faced a marginal decline of 3% in 2023, totaling $53 billion, according to the latest World Investment Report released by UNCTAD on 20 June. This dip was largely influenced by Egypt and South Africa, two of the continent’s largest economies, which experienced varied FDI trends throughout the year. ◼ Despite the overall decrease in FDI, Africa witnessed a notable increase in the share of global greenfield meg aprojects, with six projects valued above $5 billion. Leading this surge was Mauritania, where a groundbreaking green hydrogen initiative garnered investments projected to exceed $34 billion—several times the nation’s GDP. ◼ The renewable energy sector also attracted substantial attention, with over $10 billion allocated to wind and solar electricity production projects across Egypt, South Africa, and Zimbabwe. Additionally, Morocco secured a significant deal for a $6.4-billion electric vehicle battery manufacturing facility, highlighting growing interest in Africa’s electric vehicle value chains. ◼ In terms of FDI stock, key investors in Africa include the Kingdom of the Netherlands, France, the United States, the United Kingdom, and China, underscoring diverse international interest in the continent’s economic opportunities. ◼ Looking ahead, despite regional fluctuations, FDI inflows across major African groupings such as ECOWAS and SADC have expanded compared to 2018 levels, reflecting ongoing investor confidence amidst evolving economic landscapes. ◼ This data underscores Africa’s evolving FDI dynamics, marked by a resilience in greenfield investments and strategic shifts in regional economic strategies, poised to drive sustainable development in the years to come. The source: Solar Quarter #energyticslimited #energyefficiency #renewableenergy #greenhydrogen #africa

#Uzbekistan: Joint Statement on #Energy Cooperation between the Kingdom of #SaudiArabia and the Republic of Uzbekistan. HRH Prince Abdulaziz Bin Salman, the Kingdom’s Minister of Energy met today with H.E. Mr. Jurabek Mirzamahmudov, Minister of Energy of the Republic of Uzbekistan, and issued the following Joint Statement: ... Both countries will cooperate in developing reclinate and sustainable #supplychain for #EnergySector including #oilandgas, #powergeneration, #renewableenergy clean #H2 and new #carboncapture technologies, which allow future opportunities to local companies on exports, joint projects to secure energy sector components and securing #criticalmetals and #minerals for new #energytransition. ... two countries have agreed to share expertise and experiences related to the #CircularCarbonEconomy (CCE) framework and #CarbonCapture, #Utilization, and #Storage (CCUS). Moreover, they aim to identify and to collaborate in opportunities related to #green and #clean #hydrogen value chain including generation, transportation and storage as well as technology development Sardor Koshnazarov More: https://lnkd.in/d5YkCvhD

Global green transition is re-energising #China's investments in 🌍#Africa, with African #beltandroad countries seeing a 47% increase in Chinese construction contracts and a 114% rise in investments last year. This surge is mainly driven by the need for minerals used in the electric vehicle #EV, #battery and #renewables industries. The increase in 2023 saw Africa become the largest recipient of Chinese engagement, worth US$21.7 billion, overtaking Middle Eastern countries, which saw US$15.8 billion in engagement. #beltandroadinitiative #GreenTransition #ChinaAfricaRelations #SustainableFuture #africanmarket #energysecurity #energysupply #supplychain

"Infrastructure projects in developing and emerging economies often cannot attract sufficient financing. Challenges of scaling up investments include the high cost of funds in developing countries like Bangladesh, partly due to the lack of a deep domestic financing market. The constraint may be partially addressed by using a combination of sources at different stages of the project—public financing from governments and banks acting as debt investors in the early stage, and bond financing at a later stage." Dr Rohini Kamal, Assistant professor and Research Fellow at BIGD discusses the crucial aspects for a successful renewable energy transition in Bangladesh. Read here 👇 https://lnkd.in/g4kADFGU