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Thursday, 16 March 2023

Egypt could welcome a record 15 mn tourists this year -Eissa. PLUS: More wheat, social protection measures

TOURISM-

Another record year for tourism? The Tourism Ministry is expecting to receive a record 15 mn tourists this year, up 28% from last year, Minister Ahmed Issa said yesterday. Arrivals in January and February jumped 34% from the same period in 2022, he said earlier this week. The ministry wants to attract as many as 30 mn tourists per year by 2028.

COMMODITIES-

GASC wants more int’l wheat: State grain buyer GASC has launched an international tender for 30-60k tons of wheat for delivery on 15-25 April on a free-on-board basis, Reuters reports. GASC will pay its suppliers in 180-day letters of credit. Interested traders need to submit their bids today.

LEGISLATION-

House committee approves wage, pension hikes: The House Manpower Committee approved yesterday the new round of wage and pension hikes announced earlier this month to mitigate the impact of soaring inflation. The bill will move to the House for discussion and voting when it reconvenes on Sunday. The measures will go into effect on 1 April.

TECH-

CIT, UNDP link up to promote AI: The Communications Ministry inked an agreement with the United Nations Development Program (UNDP) to support the ministry’s Applied Innovation Center in efforts to promote the use of artificial intelligence, it said in a statement Tuesday.

New tech firm in town: Dubai-based software company Ziwo has landed in Egypt, Gulf News reports. The company, which offers software solutions for call centers, has opened a new branch in Downtown Cairo’s Greek Campus that includes a sales department and an R&D center. Ziwo operates across the GCC and serves companies including Carrefour, Tabby, Floward, and Deliveroo.

MANUFACTURING-

Military firm to construct rail parts factory: The Transport Ministry has signed an MoU with military-affiliated company Lenza Egypt to build a factory producing spare parts for the Egyptian Railway Authority, it said Tuesday. The factory will cost EGP 3 bn, according to Al Borsa. Lenza Egypt is specialized in manufacturing water pumps.

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