A new risk capital firm to finance troubled factories.

Minister of Trade and Industry Tarek Kabil announced that "Misr Venture Capital" - a risk capital firm - will be launched in the next few days, which aims at financing troubled factories in order to resume operation, with a total capital of EGP150 million.

Kazakhstan is looking forward to increasing mutual trade and investment relations between Egypt and Kazakhstan, Chairman of the Constitutional Council of the Republic of Kazakhstan Igor Rogov said on Tuesday.

Rogov statements came during his visit to the Egyptian pavilion at the Astana Expo 2017 which is currently taking place from June 10 to September 10. More than 100 countries and 10 international organizations are taking part in the international exhibition, which showcases the achievements of participant nations and facilitates dialogue and exchange.

As the first registered trademark for the Egyptian ethnic and handicrafts products, Creative Egypt aims at promoting Egypt's heritage.

After one year of its inception, the “Proudly Made in Egypt” label was granted to 121 companies, chairman of the Industrial Modernization Center (IMC) Mohamed Taha said on Saturday.

The label is given to companies after a field inspection to ensure their adherence to certain production, quality and efficiency standards, Taha said, adding that if the company’s assessment exceeded 70 per cent, it gets the label.

Taha said 309 companies submitted their requests to the IMC, the body mandated with granting the trademark, and that 177 companies have been assessed, of which 121 companies were granted the label.

 

In a conference on Sunday, Egypt has launched a new energy project entitled “Grid-connected Photovoltaic Power Systems – Egypt PV”, which is executed by the Industrial Modernization Center (IMC) and the United Nations Development Program (UNDP), the Trade Ministry said in a Sunday statement.


Eng. Ahmed Taha, Executive Director of the Industrial Modernization Center, said that "Ibdaa Misr" Center is one of the projects of the center aimed at serving entrepreneurs and young innovators in various fields