Latest news with #MinistryOfPlanning
Zawya
a day ago
- Business
- Zawya
Iraq says Development Road complements China's BRI
Iraq's Ministry of Planning said the country's Development Road project is consistent and complements China's Belt and Road Initiative (BRI). The plan is to connect the Iran-Iraq railway to the GCC nations, Eastern countries, and Europe, a ministry spokesman, Abdul Zahra Al-Hindawi, told the Iraqi News Agency. In April last year, Iraq, Turkey, Qatar and the UAE signed an agreement to cooperate on the $17 billion Development Road. The project may also include oil and gas pipelines in the future. Launched in 2013, the BRI aims to link the East and West through key corridors and axes via land and maritime routes. 'Iraq is one of the key axes, considering that there is a railway linking China to Uzbekistan, then Pakistan, and Iran,' Al-Hindawi said. He stated Iraq's strategic location makes it an important logistics and transport hub for Asia, the Levant, and Western markets, adding that the country offers significant reductions in both travel time and shipping costs. (Writing by P Deol; Editing by Anoop Menon) (
Wamda
6 days ago
- Business
- Wamda
Entlaq launches national report on Egypt's cleantech and energy future
Press release: In a strategic move that underscores Egypt's commitment to a sustainable green economy, Entlaq for Strategic Consulting and Research, in collaboration with the Ministerial Group for Entrepreneurship and the Ministry of Planning, Economic Development, and International Cooperation, has launched a landmark national report titled ' Cleantech and Energy in Egypt 2025: Between Climate Imperatives and Economic Opportunities'. This report presents the first comprehensive diagnostic of Egypt's cleantech ecosystem through a political, regulatory, and market lens. It comes at a critical juncture as the global cleantech sector—spanning renewable energy, smart water solutions, energy efficiency, and climate-resilient innovation—becomes one of the most competitive and strategically financed sectors worldwide. In 2024 alone, infrastructure finance across the Middle East and Africa reached USD 152.3 billion, with clean energy investments accounting for over $21.5 billion. Countries in the region are rapidly scaling their cleantech ecosystems through targeted regulation, capital mobilisation, and innovation hubs—making it imperative for Egypt to move quickly, not just to catch up, but to lead. Domestically, climate-related vulnerabilities intersect with structural challenges such as water scarcity, industrial energy inefficiency, and rising employment pressures, resulting in additional socioeconomic burdens. Yet Egypt holds unique, underutilised advantages: a strong STEM talent pool, one of the largest renewable energy potentials in the region, a high-potential startup ecosystem, and a strategic geographic location connecting Africa, Europe, and the Gulf. The report focuses on two strategic domains: EnergyTech—including renewable energy, smart grids, energy storage, and green hydrogen—and WaterTech—including greywater reuse, desalination, and digital water management. It draws on a robust methodology that includes high-level roundtables with government, the private sector, and startups, as well as extensive secondary data analysis and targeted field research, including interviews and surveys. The report identifies five cross-cutting structural barriers hindering the growth of cleantech in Egypt. First, regulatory fragmentation limits startup growth, with challenges in licensing, delayed industrial registration, and unclear net metering policies—particularly when benchmarked against countries like Saudi Arabia, Morocco, and India. Second, green finance remains limited and unevenly distributed, with Egypt receiving less than 17% of Africa's climate venture capital in 2024. Third, there are infrastructure gaps, including limited access to testing labs, grid integration facilities, and cleantech-ready industrial zones, in contrast with global models like India's Clean Energy Centres and the EU's InnoEnergy Highway. Fourth, adoption of cleantech solutions remains low among both consumers and public institutions due to limited awareness, lack of incentives, and underdeveloped promotion programmes. Finally, while Egypt possesses clear comparative advantages, activating them will require integrated reforms across policy, regulation, finance, infrastructure, and talent development. The report outlines an ambitious vision to position Egypt as a regional hub for green innovation. It calls for the enactment of a dedicated cleantech startup law, the introduction of financial incentives for energy and water innovation, and reforms in public procurement policies to stimulate technology adoption. It also emphasises the need to channel capital toward women-led and gender-diverse ventures and to align Egypt's national strategies with global best practices, adapted to local realities. To realise this vision, the report urges the formation of a multi-stakeholder national and regional coalition that brings together the public and private sectors, academia, and civil society to accelerate Egypt's green industrial transformation and fulfil its sustainable development goals.
Zawya
11-07-2025
- Business
- Zawya
Iraq needs 3mln homes over 5 years, says government advisor
Iraq must construct between 2.5 and 3 million new housing units over the next five years to address its growing housing deficit, at an estimated cost of $80 to $100 billion, according to Mudher Mohammed Saleh, Financial Advisor to the Iraqi Government. In an interview with Zawya Projects, Saleh said the figures were derived from the 2024 national census and data from the Ministry of Planning, adding that the total cost also includes infrastructure such as roads, water, electricity, and sanitation systems. Population in the OPEC member reached 46.1 million as of February 2025, according to Iraqi Ministry of Planning data. Saleh said the government has initiated 'One Million Housing Units Initiative,' alongside several large-scale residential developments, especially in high population -density governorates like Baghdad, Basra, Najaf, and Nineveh. These projects are being financed through a mix of government allocations, sovereign wealth funds, real estate lending programmes and public-private partnerships (PPPs). He pointed out that the housing programme is complemented by major infrastructure initiatives that include: • Development Road Project: A planned highway and railway multimodal corridor linking the Arabian Gulf to Europe. • Grand Faw Port: A deep-sea port development designed to expand Iraq's maritime trade capacity. To fund its broader infrastructure agenda, Iraq is employing a mix of direct government spending, concessional loans from institutions like the World Bank and JICA, and capital from national entities such as the Iraqi Development Fund. Saleh noted that project delays and inefficiencies remain a key concern, prompting the government to introduce restructuring measures, alternative financing models, and dedicated monitoring committees to improve accountability. Target sectors for foreign investment According to Saleh, Iraq is also ramping up efforts to attract foreign investment in priority sectors including oil, gas, and renewables; logistics and transport; agriculture and food processing; manufacturing; religious and cultural tourism; and information technology. 'To attract investments, the government is offering various incentives such as tax exemptions of up to 10 years, long-term land leases, sovereign guarantees, and capital repatriation rights under Investment Law No. 13 (2006),' he said. (Reporting by Majda Muhsen; Editing by Anoop Menon) (
Zawya
01-07-2025
- Business
- Zawya
Egypt's real GDP rises to 4.77% in Q3 FY2024/25
Arab Finance: Egypt's real gross domestic product (GDP) growth increased to 4.77% in the third quarter (Q3) of fiscal year (FY) 2024/2025, according to an official statement by the Ministry of Planning, Economic Development, and International Cooperation. This GDP marks the highest quarterly rate in three years, higher than 2.2% in the same quarter last FY. The average growth reached 4.2% in the first nine months of FY 2024/2025, compared to 2.4% during the same period in FY 2023/2024. Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat stated the higher-than-expected GDP growth was backed by strong performance in key sectors, mainly non-oil manufacturing, tourism, and telecommunications. This growth reflects the tangible impact of Egypt's macroeconomic policies and structural reform agenda, Al-Mashat noted. The strong performance shows a sustained recovery and growing resilience of the economy amid global uncertainties. It also comes due to the continued structural reforms implemented under the National Structural Reform Program to maintain macroeconomic stability, enhance the governance of public investment, and expand private sector participation. Meanwhile, preliminary data suggest that Egypt's real GDP growth in FY 2024/25 will exceed the initial target of 4%. This is supported by a rebound in private investments, an improvement in non-oil manufacturing activity, and strong GDP performance over the first nine months of the FY. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
01-07-2025
- Business
- Zawya
Egypt: Suez Canal's operations fall 23.1% in Q3 FY2024/25
Arab Finance: Suez Canal activity dropped by 23.1% year on year in the third quarter (Q3) of fiscal year (FY) 2024/2025, as per a statement issued by the Ministry of Planning, Economic Development, and International Cooperation. This is compared to a sharper plunge of 51.6% in Q3 FY2023/24, which marked the beginning of a continued reduction in vessel traffic due to escalating geopolitical tensions. These disruptions have been affecting the canal revenues to date. In March, President Abdel Fattah El-Sisi previously revealed that Egypt incurs monthly losses estimated at $800 million in Suez Canal revenue due to regional instablities. In Q2 of FY2024/25, the Suez Canal's operations retreated by 70%, affected by geopolitical tensions. The current political conditions negatively impacted navigation through the canal, causing a drop in the number of transiting ships. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
