Briefings by Thinking Arabian | 64

Contents

• In a nutshell
• Briefings on?Egypt, Morocco, Algeria,?MENA & GCC, United Arab Emirates, Qatar and Saudi Arabia?

In a Nutshell

Egypt and Turkey aim to expand their trade relations in 2024

• Egypt and Turkey share diplomatic and economic ties based on cooperation and cultural, religious, and historical origins dating back eight centuries to the Ottoman Empire.

Egypt secures $230 million from Japan to support budget

• Egypt has agreed to receive $230m (EGP 11bn) from Japan to support the state budget, Finance Minister Mohamed Maait told Asharq Business on 29 April.

Morocco launches tender for 400 MW wind farm project

• The project aligns with Morocco's strategy to expand renewable energy capacity, aiming to achieve at least 52% of the country's electricity mix by 2030.

EU relaxes visa requirements for Saudi Arabia, Oman and Bahrain

• Traveling to Europe will be easier and simpler for Saudi, Omani, and Bahraini nationals after the European Commission decided to relax visa requirements.

Saudi Arabia and Japan discuss investment relations

• Saudi Arabia's Ambassador to Japan, Dr Ghazi Binzagr, met with Nobuyori Kodaira, Chairman of the Japan Cooperation Centre for the Middle East, in Tokyo on Thursday to discuss improving mutual investment.

Europe to establish Chamber of Commerce in Riyadh

• The first European chamber of commerce in the Gulf region will open in Riyadh next week, the EU's special representative for the Gulf region told Arab News.

IMF opens first MENA office in Riyadh

• The International Monetary Fund has opened its first office in Riyadh, in the Middle East and North Africa region.

Saudi climate envoy meets EU special envoy for the Gulf region

• Saudi Arabian Foreign Minister and Climate Envoy, Adel Al-Jubeir, met with the EU Special Envoy for the Gulf Region, Luigi Di Maio, during the World Economic Forum Special Meeting on Global Cooperation, Growth and Energy for Development.?

Briefings

Egypt

Egypt authorizes the establishment of a special free zone in Ras al-Hekma

Egypt has pushed ahead with the administrative reorganization of the region after signing a $35 billion ADQ agreement with the United Arab Emirates earlier this year. ( 25.04.2024, Gulf Business)

Minister of Irrigation praises reuse of agricultural wastewater

According to the Minister of Irrigation, Egypt has made a quantum leap in agricultural wastewater reuse with the Mahsama Water Treatment Plant and Sarabium Siphon. (24.04.2024, Egypt Independent)

Egypt's Zohr gas field produces over 2 billion cubic feet of gas per day

The Egyptian Ministry of Petroleum spokesman announced that the Zohr gas field produces more than two billion cubic meters of gas per day and is one of the most important gas fields in Egypt. (24.04.2024, Egypt Independent)

Egypt to build 7 logistical routes to various seaports

Egypt has developed a strategic plan to build seven massive logistics corridors connecting industrial, agricultural, and mining areas with Mediterranean and Red Sea seaports. (27.04.2024, Egyptian Streets)

Smart Automobile from Germany joins forces with the Ezz El Arab Group for an Egyptian EV project?

German electric car manufacturer Smart Automobile, a joint venture between Mercedes-Benz and Geely, has partnered with Ezz Elarab Group's subsidiary, Ezz Elarab Star, to launch its electric vehicles in the Egyptian market in the third quarter of 2024, the company said in a statement. (23.04.2024, Enterprise)

Morocco

Morocco wants to become an aircraft manufacturing center to meet the demand

Moroccan authorities want to turn the country into an aviation hub to attract investors looking to expand their supply chains to more countries with available and affordable labor. ( 25.04.2024, Arab News)

OCP Group raises two billion dollars through Eurobond issue to finance green transition

Moroccan phosphate giant and the world's largest fertilizer producer, OCP Group, has raised USD 2 billion in two tranches through Eurobonds. (26.04.2024, Morocco World News)

Morocco and France explore cooperation on electric vehicles, batteries, and green hydrogen

Minister Mezzour emphasized the role of the Moroccan automotive industry as a platform for strong French investment and industrial integration. ( 27.04.2024, Morocco World News)

Algeria

Europe calls on Algeria to improve gas supplies

Algeria has been urged by its European partners to increase gas supplies as regional and global conflicts have affected the industry, the country's foreign minister has said. ( 29.04.2024, Arab News)

Medicines "Made in Algeria" are gaining in importance

National and international pharmaceutical companies are expanding their production in Algeria, which is also driven by the state. The export of medicines could be better. (24.04.2024, GTAI)

GCC & MENA

Startup Wrap - Egyptian companies secure funding to fuel their expansion in Saudi Arabia after stagnation

Startups in Egypt have started to gain momentum, and several companies have secured funding to boost their expansion efforts in the Kingdom. ( 27.04.2024, Arab News)

Oman and Saudi Arabia sign memorandum of understanding to finance infrastructure for industrial zones?

The Sultanate of Oman and the Kingdom of Saudi Arabia signed a Memorandum of Understanding yesterday, 25 April, in Muscat to finance infrastructure for several industrial zones in Oman. (25.04.2024, Oman Observer)

According to African stakeholders, the GCC countries can play a key role in Africa's economic development

Gulf Cooperation Council member states can play a central role in developing African economies, a special session of the World Economic Forum in Riyadh has heard. (28.04.2023, Arab News)

Trade volume between Qatar and Jordan reaches QR746 million in 2023

Qatar is one of the largest investors in Jordan, and Qatari investments include various sectors such as real estate, tourism, banking, healthcare, energy, and oil derivatives, an official said. (25.04.2024, The Peninsula)

Power interconnection between Oman and GCC to enable energy trading?

The expansion of interconnected grids between Oman and the Gulf Co-operation Council (GCC) will enable seamless electricity trading - imports and exports - and help GCC member states bridge any shortages in domestic power supply, especially during the summer. (27.04.2024, Oman Observer)

Omani officials forge economic alliances with Saudi Arabia, Japan, and the US

A new agreement with Saudi Arabia will boost Oman's industrial infrastructure to encourage private sector participation in economic growth. (25.04.2024, Arab News)

United Arab Emirates

Statevolt's CEO talks about the upcoming $3.2bn battery gigafactory in the UAE

Statevolt, a US-based company specializing in green industrialization, announced plans earlier this month to build a new state-of-the-art, technology-neutral battery cell gigafactory in Ras Al Khaimah in the United Arab Emirates. (26.04.2024, Gulf Business)

Minister says UAE could surpass the target of tripling renewable energy capacity by 2030

The UAE could exceed its target of tripling renewable energy capacity by 2030 due to low clean energy prices and more solar capacity installed to produce green hydrogen, the country's energy minister said. (28.04.2024, The National News)

Dubai launches major AI economic strategy?

Dubai's crown prince launched a major artificial intelligence initiative on Monday for the emirate's government, economy, and education. (29.04.2024, Arab News)

Qatar

Qatar's Energy Minister calls for responsible use of oil and gas resources at the World Economic Forum

Qatar's Minister of State for Energy Affairs calls for the responsible use of oil and gas at a panel discussion at the World Economic Forum, emphasizing the continued need for these resources as part of discussions on a just energy transition. (29.04.2024, Doha News)

Qatar launches national strategy to increase share of renewable energy

Qatar General Electricity and Water Corp. is launching a comprehensive strategy to promote solar energy and other renewable energy sources. ((28.04.2024, Arab News)

QatarEnergy to build 18 of China's largest LNG vessels to date under a $6bn contract

Cabinet Spokesman Mohamed al-Hommsani explained the details of Prime Minister Mostafa Madbouly's visit to Port Said and Damietta governorates, where he toured some factories and the port of Damietta. (21.04.2024, Egypt Independent)

Saudi Arabia

Eight years after its launch, Saudi Vision 2030 is already well ahead of schedule

Many players were involved in transforming Saudi Arabia: The government, Saudi citizens, the private sector, and international partners. Their combined efforts meant that the plan was already ahead of schedule in 2023 - halfway through Vision 2030. (25.04.2024, Arab News)

Saudi energy minister and EU official discuss cooperation on clean energy

Saudi Energy Minister Prince Abdulaziz bin Salman held talks with EU Energy Commissioner Kadri Simson on Sunday to discuss prospects for cooperation in clean energy. ( 28.04.2024, Arab News)

Private industrial sector investment in Saudi Arabia doubles to $1.8bn

According to official figures, private sector investment in Saudi Arabia's industrial sector more than doubled in the first quarter of 2024, exceeding SR7bn ($1.8bn). ( 24.04.2024, Arab News)

How the hotel and catering industry in Saudi Arabia is focusing on environmental sustainability

Saudi Arabia is becoming a hotspot for international investment. The latest highlight? The sustainable hotel industry. (27/04/2024, Arab News)

How Vision 2030 is transforming Saudi Arabia into a globally competitive economy

What extraordinary achievements has Saudi Arabia made in ranking ahead of China, Germany, and the United Kingdom in terms of global economic competitiveness? (25.04.2024, Arab News)

World's largest coral reef restoration project unveiled in Saudi Arabia

The project in the Red Sea aims to contribute to restoring coral reefs worldwide amid concerns over temperature-related coral bleaching. (25.04.2024, The National News)