FOR THE FIRST TIME… OFFERING INCENTIVES TO INVESTORS IN INDUSTRIAL COMPLEXES, AND CANCELING STANDARD COSTS

FOR THE FIRST TIME… OFFERING INCENTIVES TO INVESTORS IN INDUSTRIAL COMPLEXES, AND CANCELING STANDARD COSTS

by | Jan 3, 2022 | News Station

For the first time… offering incentives to investors in industrial complexes, including reducing the price of the specifications from 2500 to 500 EPG and canceling standard costs.
The Ministry of Trade and Industry announced a plan to establish 10 industrial complexes in Upper Egypt, providing 2,628 industrial units.
On 25th December, President Abdel-Fattah El-Sisi Launched 5 industrial complexes in Upper Egypt, 1178 units, including Al-Baghdadi in Luxor, Bayad Al-Arab in Beni Suef, Al-Matahra in Minya, and Hurghada in the Red Sea, which is Qena.
Jamea’ explained that the ministry has provided many extraordinary advantages and incentives, including simplifying the conditions and documents required to obtain units in industrial complexes, as the price of the specifications book has been reduced to only 500 EGP, and standard costs have been eliminated in exchange for studying request fees, which amounted to 2500 EGP, the deposit of reservation has been reduced from 50,000 EGP to 10,000 EGP.
Nevin Jamea’, Minister of Trade and Industry, said that sustainable industrial development in the governorates of Upper Egypt comes at the top of the priorities of the ministry’s work plan during the current stage.
For more information, visit:
EFG HERMES HOLDING ANNOUNCED THAT IT HAS SUCCEEDED IN TRANSFORMING INTO A COMPREHENSIVE BANK IN THE EGYPTIAN MARKET

EFG HERMES HOLDING ANNOUNCED THAT IT HAS SUCCEEDED IN TRANSFORMING INTO A COMPREHENSIVE BANK IN THE EGYPTIAN MARKET

by | Jan 3, 2022 | News Station

EFG Hermes Holding announced that it has succeeded in transforming into a comprehensive bank in the Egyptian market, in addition to being the leading investment bank in emerging and frontier markets, after completing the acquisition of 51% of the Arab Investment Bank.
Under the terms of the deal, EFG Hermes Holdings will lead the Arab Investment Bank (aiBANK), with the Egypt Sub-Fund for Financial Services and Digital Transformation, a wholly-owned owned subsidiary of the Sovereign Fund of Egypt and a significant partner of EFG Hermes Holdings, acquiring a 25% stake in the bank.
Karim Awad, CEO of EFG Hermes Holding, said that the completion of this landmark transaction with our esteemed partner, the Sovereign Fund of Egypt, will contribute to transforming our operations in Egypt into a comprehensive banking platform.
that the group’s new business model will benefit its shareholders by providing a clear vision of future profitability rates and dividends, as well as the possibility of profiting from partial exit opportunities from some of its subsidiaries.