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بوابة الشروق
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Key Cabinet Decisions Today
The Egyptian Cabinet has approved the implementation of several projects and regulations to strengthen economic development and sustainability in the country. The decisions include granting a license for a 1,000-megawatt solar power plant in Minya, with a cost of approximately $750 million, aimed at reducing carbon emissions by one million tons annually and creating 2,500 jobs. It also approved a 12% interest rate scheme for developers and investment projects in new cities, lasting for one year, to support financing and stimulate investment. Additionally, a project to produce leather and footwear products in the Rubeiki area was approved, with a cost of $12 million, expected to produce 2.5 million pairs of shoes annually, with potential exports valued at $148.4 million starting in 2027. Furthermore, an agreement was made to support French language instruction in Egyptian schools through a grant from France, along with the allocation of land for public projects and the privatization of land plots for investment companies, all aimed at bolstering local industries and attracting investors.
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