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The project would be funded through a loan provided by the Japan International Cooperation Agency (JICA).

The project is in line with Egypt’s National Green Hydrogen Strategy issued during COP27.

The Minister stressed that the Egyptian economy is diversified, and the business climate is attractive to increase domestic and foreign investments.

Gulf states have deposited at least $13 billion with Egypt's central bank to support its economy so far this year.

Global Auto Group has also acquired Bavarian Auto Group in a deal that includes existing network of service centers, showrooms, and assembly plant.

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COVID-19 pandemic made the rich poorer, as half of the world billionaires are less wealthy than they were in 2019. Are Egypt's richest an exception?