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تعتبر مصر واحدة من أعلى دول منطقة الشرق الأوسط وشمال إفريقيا في حجم الاستثمار بالشركات الناشئة، حيث تحتل المركز الثاني في عدد الصفقات الاستثمارية، والمركز الثالث من حيث قيمة تلك الصفقات خلال النصف الأول من عام 2021 بين دول المنطقة بقيمة تزيد عن 123 مليون دولار، فضلًا عن إنها قامت مؤخرا بحصد ثاني أعلى قيمة استثمارية خلال شهر يوليو الماضي – بحسب تقرير ومضة - عند 70.7 مليون دولار عبر 19 صفقة، وهو ما يوضح النمو الهائل لقطاع ريادة الأعمال والاستثمار بالشركات الناشئة؛ بتلك الدولة التي يزيد عدد سكانها عن 100 مليون نسمة، وعن ذلك يقول المهندس "عمرو محفوظ"، الرئيس التنفيذي لهيئة تنمية صناعة تكنولوجيا المعلومات "ايتيدا"، مساعد وزير الاتصالات المصري للتنمية والتطوير: "لقطاع ريادة الأعمال والشركات الناشئة أهمية في دفع النمو الاقتصادي وخلق فرص عمل غير تقليدية وتوفير حلول مبتكرة للتحديات المجتمعية، وكذلك جذب المستثمرين وصناديق رأس مال المخاطر، وهو بالتالي أحد الروافد الرئيسية لتوفير النقد الأجنبي في الاقتصاد المصري، ولذلك نتطلع في هيئة تنمية صناعة تكنولوجيا المعلومات هذا العام إلى تسجيل أكثر من 270 شركة ناشئة جديدة في مصر كما نتوقع أن تجذب الشركات الناشئة تمويلات استثمارية تتخطى حاجز ال 250 مليون دولار، وأضاف "محفوظ" أن الاستثمارات الأجنبية في الشركات المصرية الناشئة تُمثل نسبة 32% من إجمالي الاستثمارات وهي من بين الأعلى في المنطقة مما يعكس ثقة المستثمر الأجنبي وصناديق رأس المال المخاطر العالمية في مناخ ريادة الأعمال والشركات التكنولوجية الناشئة المصرية.

وأكد محفوظ في تصريحات خاصة لـ "ومضة" أن الهيئة تعمل في الوقت الحالي على صياغة استراتيجية خمسية شاملة بالتعاون مع إحدى الشركات العالمية وتضم أربعة محاور عمل هي تمكين وتسهيل بيئة أعمال ريادة الأعمال، وسد فجوة التمويل، والوصول للأسواق العالمية، تنمية وصقل المهارات التقنية المتخصصة.

مركز ريادة أعمال عالمي

أضاف: "نجهز في الوقت الحالي لإطلاق مركز إبداع وريادة أعمال على مستوى عالميMega Innovation hub وسيكون مقره بقصر السلطان حسين بالقاهرة وسيتم إدارته بالكامل من قبل مشغل عالمي، كما قمنا بتجهيز أول مركز إبداع متخصص في صناعة البرمجيات المدمجة للسيارات وتصميم الإلكترونيات وسيكون مقره بمدينة المعرفة بالعاصمة الإدارية الجديدة."، كما تقوم الهيئة بضخ استثمارات موجهة لرعاية الأفكار واحتضانها من خلال عدة برامج منها برنامج "مسرعات الأعمال" Tiec Entrepreneurship Accelerator الذي يقدمه مركز الإبداع التكنولوجي وريادة الأعمال "تيك" بهيئة تنمية صناعة تكنولوجيا المعلومات "ايتيدا".

ثقافة ريادة الأعمال بالجامعات

أما عن خطط تدريب ريادة الأعمال في الجامعات، فأوضح أن الهيئة من خلال مركز الإبداع التكنولوجي وريادة الأعمال "تيك" تنفذ عدد من البرامج لطلبة الجامعات لتدريبهم على مهارات ريادة الأعمال، منها برنامج بناء قدرات الطلبة والخريجين في مجال الإبداع وريادة الأعمال InnovEgypt والذي بدأنا فيه منذ 2013 وصمم البرنامج اعتمادًا على دراسات عالمية لتضمين التعليم الريادي في مناهج الجامعات الدراسية قبيل وبعد التخرج، الأمر الذي يُؤكد دعم الحكومة في توفير التعليم والتدريب على نطاق واسع في مجال الابتكار وريادة الأعمال، ويتم ذلك من خلال تأسيس مجتمعات طلابية من شباب الجامعات والخريجين في المحافظات المختلفة من المتحمسين لفكر وثقافة ريادة الأعمال التي ترتكز على توظيف تكنولوجيا المعلومات والاتصالات.

وعن تأثير مشروعات التحول الرقمي على الشركات الناشئة في مصر، فأكد أن هناك أثر إيجابي لها بالتوازي مع جائحة "كورونا"، حيث ساهما معًا في خلق زخم غير مسبوق في مصر والعالم ايضًا، مما تسبب في لفت الانتباه لكل القطاعات التي تعتمد على التكنولوجيا الرقمية، وهو ما ساعد بدوره في ظهور العديد من الشركات الرقمية الناشئة وخلق لها حافز إضافي للإبداع والابتكار.

أما عن تأثير جائحة "كورونا" على المشاريع الناشئة المصرية، فأوضح أن تداعياتها وأثرها على الشركات الناشئة كانت متفاوتة، فهناك منهم من كانت آثارها ايجابية عليهم وحدث لها نموًا مثل شركات التجارة الإلكترونية، والتكنولوجيا المالية، والتي ازدهرت بصورة كبيرة خلال فترة الجائحة، فلم يحدث إقبال على التعامل عليها بتلك الصورة قبل الجائحة، كذلك لم تنسى الهيئة الشركات التي تأثرت سلبًا بانتشار الجائحة، وقامت بتخصيص دعم مخصص للشركات الناشئة كجزء من برنامج "المساندة الصادرات" لمساعدة تلك الشركات على تخطي تلك الأزمة، حيث تم صرف حوالي 70 مليون جنيه مصري لحوالي 131 شركة مستفيدة من البرنامج.

المصدر: Wamda

Work is underway in 37 new cities that the state is currently constructing.

He noted that the state is not only developing new projects, but it is also removing slums and transferring citizens to better housing and a better life.

Shalaby said that the NAC reflects a new vision for Egypt and a new awareness of launching a smart and sustainable city.

The project has contributed to the emergence of a new generation of real estate developers who are implementing various projects.

He further noted that there is an increase in the volume of supply in the real estate market for residential, commercial, and administrative units, and long payment systems have now been made available for clients.

Mohamed Abd Elghany, Chairperson of Engineering Consulting Bureau (ECB), said that the NAC has allowed for the entry of new developers, which has led to an increase in competition.

“With the short implementation period and the payment of high instalments, there has become a challenge to sell in the NAC’s projects,” he said, “These developments prompted companies to pay high rates to marketing companies to speed up selling rates, and there was a gap between what is required to be paid for project construction and his financial liquidity, which may lead to problems and financial failure for some developers and thus affect the entire New Capital project.”

Meanwhile, Mohammed Al-Hadidi, General Manager of Edge Holding for Urban Development, said that the private sector, along with the Egyptian Government, is contributing to the NAC’s implementation.

He pointed out the possibility of an authority that would develop a general investment strategy in the NAC that would look to attract the largest companies in the Gulf Cooperation Council (GCC) countries during a certain period. This would help accelerate the development of the city.

Ahmed Shafik, Head of the Egyptian Association for Realtors, said that real estate marketers have made great efforts over the past years to set standards for regulating the real estate market.

He stressed the need to place the NAC on the tourist and entertainment map, whilst ensuring that it maintains visitor numbers throughout the year by paying attention to recreational activities.

Egypt’s gross domestic product (GDP) is expected to attain pre-pandemic growth levels to reach 6%, the highest projection among all the global financial and credit institutions so far, according to a recent report by Fitch Ratings.

The rating agency is expecting higher foreign direct investment (FDI) inflows.

The agency also said that Egypt’s banks' net interest margins (NIMs) average is expected to be resilient if the Central Bank of Egypt (CBE) would introduce more cuts to the interest rates by an additional 0.5% (50 base points) up to 1.5% (150 base points).

Fitch noted that interest income is highly dependent on sovereign yields, which represent about 65% of the sector’s total interest income.

Fitch’s report said that the impact would vary depending on each bank's asset pricing power, funding structure and ability to re-price liabilities downwards.

The current overnight deposit rate, overnight lending rate, the rate of the main operation, and the discount rate are 8.25%, 9.25%, 8.75%, and 8.75%, respectively.

Egypt’s banks' NIMs are expected to come under pressure in 2021-2022 driven by the extent of potential policy rate cuts, changes in yields on sovereign debt, and any likely shifts in banks' balance-sheet structures.

The sector-average NIM was 4.1 percent in 2020 and has been resilient despite the CBE cutting policy rates by a cumulative 4% (400 base points).

NIMs were supported by yields on the 90-day treasury bills, which were kept high in 2020 at about 13% to attract back foreign portfolio investors following the global market volatility caused by the pandemic, which led to a $17 billion of capital outflows in March-April 2020.

“If yields on treasury bills fell by up to 1.5 percent (150bp), we would expect NIM compression of up to 0.7 percent (70bp). Inflation-adjusted returns on Egyptian sovereign debt are among the highest in emerging market economies. While there may be room for a reduction in yields if inflation remains broadly stable, we believe the CBE will seek to maintain positive real interest rates to retain portfolio inflows," Fitch added.

Furthermore, Fitch expected high single-digit loan growth in the Egyptian banking system in 2021, supported by lower interest rates and the CBE’s measures to boost lending.

Such measures include the CBE extending its EGP100 billion 5 percent-8 percent subsidized rates lending programme to engage more sectors and asking banks to increase small and medium-sized enterprises (SME) loans to 25 percent of their loan portfolios, which was 20 percent previously," Fitch Ratings said.

The agency also predicted low double-digit loan growth in 2022 in case that capex financing raises with recovering GDP growth.

Egyptian banks have higher profitability ratios than other peers in the region, which gives them more room to maintain adequate profitability margins and internal capital generation if interest rates are cut.

“The sector-average return on equity was 23 percent in 2020. For comparison, Gulf Cooperation Council (GCC) banking sectors have average returns on equity of 10 percent up to 17 percent and average NIMs of 2.3 percent up to 3.5 percent. Profitability is a rating strength for Egyptian banks and NIM compression, provided it is moderate, is unlikely to trigger viability ratings downgrades," Fitch concluded.

source: zawya

VMware has opened its first office in Egypt as it seeks to help the country drive digital transformation across a range of sectors, including government, education, healthcare and industry, in line with the Egyptian government’s ambitious Vision 2030 agenda. VMware views the country as a key market in the Middle East and North Africa region.

The new VMware office, located in Cairo, will serve the local and regional market focusing on a range of services including support, commercial and technical sales, project management and cloud consultancy.

To ensure its complete portfolio of solutions is available with full local support for the market, VMware intends to hire more than 130 people in Egypt in the first year of operating the new office.

Having a local presence in-country will support VMware’s vision to help companies build, run, manage, connect and protect any app, on any cloud and any device.

This is especially important in Egypt, which has a large population of young people, creating strong demand for quality customer experience and employment opportunities.

The company is expanding ICT knowledge in Egypt through its partner programs, and through recent initiatives such as its collaboration with Egypt’s National Telecommunication Institute (NTI).

VMware also formed a collaboration with Egypt’s Information Technology Institute (ITI), an affiliate of the Ministry of Communications and Information Technology (MCIT) in April 2019, to support Egyptian ICT students with professional training to help bridge the gap between academic studies and the skills needed in today’s competitive job market.

source: sme10x

Tourism revenue, an important source of foreign currency for Egypt, plunged by 70% in 2020.

Egypt is optimistic about welcoming more visitors this year with numbers increasing steadily since January to around half a million tourists a month, Tourism and Antiquities Minister Khaled El-Enany told Reuters.

Tourism revenue, an important source of foreign currency for Egypt, plunged by 70% in 2020 due to the coronavirus pandemic. Tourism usually accounts for up to 15% of the country's gross domestic product.

Monthly tourism revenues stood at about $500,000, half of what they were before the pandemic. But Egypt hopes for a recovery by the end of the year when it aims to have vaccinated tourism staff in resorts along the Red Sea and name the area a COVID-free destination, Enany said.

More than 65% of (tourists) are coming to the Red Sea and South Sinai governorates because they are open air spaces and (there are) water activities. It is exactly what the tourist is seeking after COVID," the minister told Reuters in an interview.

Egypt and Russia in April agreed to resume all flights between the two countries in a call between their presidents, Abdel Fattah al-Sisi and Vladimir Putin, Egypt's presidency said in a statement. 

"As you know the Russian market was a very important one to Egypt. Until 2015 they were ranking number one, around 3.5 million tourists a year."

Flights from Russia to resort destinations Sharm al-Sheikh and Hurghada were suspended after a Russian passenger plane crashed in Sinai in October 2015, killing 224 people.

source: zawya

Translated by: Hayat Hernández

Although palm trees are considered beautiful decorative plants and very suitable for sunny days, they have a very significant role in nutrition being a rich source of vitamins and important minerals.

As said in the Quran “For it is He who has brought into being gardens-[both] the cultivated ones and those growing wild -and the date-palm, and fields bearing multiform produce, and the olive tree, and the pomegranate: [all] resembling one another and yet so different! Eat of their fruit when it comes to fruition, and give [unto the poor] their due on harvest day. And do not waste [God's bounties]: verily, He does not love the wasteful”, Al Ana‘am (6: 141)

It’s thought that the first place where palm trees were cultivated was the Arabian island “Harkan” in Bahrain in the Arabian Gulf, and later spread through Iraq into the other parts of the world according to “Ibn Wahshyah”, one of the oldest writers in terms of agriculture. Confirmed by “Al Subai’I” 1933.

 

Palm trees and different cultures

This tree was a symbol of warship amongst Chaldea, Assyrians and Phoenicians, in fact, many ministries in Arab countries relate palm trees with culture, religion and history. According to the official website of the ministry of agriculture in Jordan, palm tree was mentioned in the Jewish scripts, as well as dates which were one of the seven sacred fruits. It was mentioned in the bible also that Crist was born under a palm tree, and his followers paved the ground with palm leaves along his way when he entered Jerusalem. As for Islam, dates have a very special quality when it comes to Ramadan (the month that Muslims fast during), where it is desirable for the fasting person to break his fast on dates. This was proven by the actions of the Prophet, may God bless him and grant him peace.

Many civilizations have cherished palm trees since the beginning of their rise by decorating their palaces and monuments, their trunks were also used as columns. Cultivating palm trees was the first type of farming that certain laws were made for to follow, as it was in Hammurabi’s Code.

 

The Economic value

Some of the oil supplying countries are having a drop off in the oil production, while in the meantime there is another kind of oil in the pipeline that requires different climate conditions, and that is palms oil.

Nowadays, 30 countries around the world cultivate palm trees, almost 600 thousand hectares of farmed land, 422 thousand of them belong to Arab lands. The economic worth of this plant is tremendous that it’s in the vein of oil growing on trees. The Arab world has come in the lead in the dates production by 70% of international production, out of 100 million trees that are planted in the world, almost 80 million are planted in Arab countries. Although palm trees cultivation isn’t the easiest, the outcomes of this kind of investment are noteworthy considering 80 to 100 Kg of dates come from just one tree after 7 years of planting.

Obviously the date fruit production represents a very significant sector in the economy, and it’s rising constantly. For example, Turkey consumes almost 10 thousand tons of dates in Ramadan according to the Jordan newspaper “Al-Raya”, and this sector is considered to be in the lead in terms of hiring a tremendous number of workers, which reduces the average number of unemployed people in the Arab world.

Regarding the types of dates that exist, they passed 2000 types, in Iraq only there are over 600 types, 400 in Iran, and almost 400 in Libya according to the “Iraqi Network of Palm Tree”, plus over 400 type of dates in Saudi Arabia, in addition to the varieties that are cultivated in all Africa excluding Libya, they would reach more than 2000 varieties, every type having a different name which illustrates the importance of this agroindustry.

 

Population growth

The number of human population on earth will reach 9 billion people in 2050, which will cause the need of more food to increase, and consequently, MENA resources to decrease especially palm trees and dates due to many factors, but it will remain the best region to grow palms regarding the climate and soils.

 

Healthy benefits of date fruit

Balah (a type of dates) contains most basic nutrients for the human body, and they are considered a good source for vitamins. This fruit is like a mine containing a lot of basic minerals like phosphorus, calcium, iron, magnesium, sodium, sulfur, and chloride. It has also numerous benefits on the health being consumed as food, a fruit, a drink, dessert, and also a medicine. It contains 21% of water and many vitamins such as vitamin A, B1, B2, D, 1.2% protein, 18% fat, 73% sugar, and 3% fibers. 1 Kg of dates provides your body with the same amount of calories that a kilogram of meat does, and three times the calories that 1 Kg of fish provides.

Date fruits contain monosaccharaides (glucose and fructose) such as Al-Barhi, Al-Sayer, Al-Zuhdi, Al-Sidi, and Halawi, and disaccharides (sucrose) such as Dajla Noor and Dajla Baida.

 

All parts of the palm tree can be useful, such as:

The kernel: suitable as fodder for livestock and increases its production of meat and milk. And enters in the yeast industry as well.

Leaves and fronds: to make tools, furniture, antiques, cages, ropes and baskets.

Logs: to make house roofs, doors and seats in addition to bridges, archways and pulp.

Parts of the stems can be used as fuel or tanks for planting ornamental plants.

Some types of dates are used to extract natural incense from, such as Dagla, which is bred in Morocco.

The fruit (Rutab and Dates): has a high nutritive value, as well as being a source for oil, sugar, and syrup, besides its role in the cosmetic industry.

Pollen: used in pharmaceutical manufacture.

Roots: to keep the soil consistent.


Palms and the surrounding environment

Date palm tree has a significant role in maintaining a balanced environment and preventing the desert invasion, due to its ability to adapt to it, the extension of its roots vertically and horizontally permits the plant to reach humid areas in order to get to the sources of water. As for the leaves, they are attached to the wickers and covered with a waxy layer and folded into V shape along their branch, forming a canoe-like shape, with its bottom facing upward to reduce water loss. Palm trees are also used to ward off the wind around farms, as they prevent and slow desertification. They also protect the trees and plants grown around them. The palm also tolerates high temperatures, salinity and drought.

Arab countries that most produce this unique fruit:

Saudi Arabia

The Kingdom owns more than 23 million palm trees, with a production exceeding one million tons, according to Food and Agriculture Organization "FAO", equivalent to 16% of the total global production, and increasing by about 3% annually. The Kingdom supports palm farmers by about 50 riyals per palm, and this market also provides thousands of job opportunities. There are dozens of factories to manufacture palm products. Nevertheless, the kingdom does not export more than 5% of its annual output.

The most famous area in which date palm is cultivated is the Qassim region, where the "City of Dates" was established. It is famous for containing almost eight million palm trees, of which there are six million productive trees, more than 205 thousand tons of various types of dates are also grown in Saudi Arabia and more than 400 species, seventy of them have a high economic value.


United Arab Emirates

There are about 40 million palm trees in the UAE, 8.5% of them are planted in “Al Ain” region where there is a gene pool that includes almost 120 species, and high quality varieties were added recently imported from Saudi Arabia, Iraq, Iran and the Sultanate of Oman.

 

Palestine

Cultivated date palms have existed in Palestine for thousands of years. Being a tree of great economic value, and a great religious status, being a perennial tree, and its ability to withstand many climatic conditions, in addition to its ability to grow in saline soils, palm tree has gained the attention of the Palestinian farmer.

The Mediterranean climate conditions dominant in the area provide optimal conditions for growth and development of date palm.

Date palm cultivation is widespread in Palestine in the Jericho area, the Jordan Valley, and the Gaza Strip, especially in the cities of Deir al-Balah and Khan Yunis. Historically, the city of Jericho was called the "City of Palms". Because of the large number of palm plantations in it.

Date palm cultivation is the least labor-intensive crops, and the least labor-intensive crops. The tree needs three years to bear fruit, and after six years it reaches its peak. This sector, which was on the top of the Palestinian agricultural sector in the Jordan Valley, in terms of areas, water consumption, and agricultural labor absorption.


After 1967, considerable areas of the Jordan Valley were cultivated by Israeli farmers with new high-quality date palm cultivars including Medjool. The adaptability of the new cultivars and the use of advanced techniques for propagation and cultivation of dates produced crop of excellent quality and yield to supply local and international markets.

According to the Palestinian Ministry of Agriculture the cultivated area in the Palestinian valleys with palm trees is estimated at about 24 thousand dunums at the end of 2020 out of a total of 55 thousand dunums of land that Palestinians exploit in the Jordan Valley. This is a small fraction of 300 thousand dunums suitable for cultivation, but still unexploited. According to the statistics of the Palestinian Ministry of Agriculture, the number of palm trees by the end of 2020 was estimated at about 330 thousand trees, and the quantity of production of pure Palestinian dates until at about 12,800 thousand tons. The Palestinian local market in the West Bank and Gaza Strip consumes about 6,000 tons of dates annually. It was estimated that 60% of the Palestinian production of dates goes to the local market, and only 40% of the production is exported from the Palestinian Majool (Medjool) variety, where the per capita consumption is estimated annually at about 900 grams of dates.

The most important palm varieties cultivated in Palestine are Medjool, Al-Barhi, Elhayani. Medjool dates are one of the finest dates produced in the Palestinian, at the regional and international levels. Because it is grown in areas below sea level; It increases the percentage of oxygen, which gives it a distinct flavor and color.

According to Abu-Qaoud several constraints face date cultivation and development, including high investment costs, poor marketing, and inequitable competition with Israeli products, limited water, pests, and diseases. However, there is a trend by formal governmental agencies as well as by national NGOs to support the cultivation of date palms in Palestine. The Palestinian Ministry of Agriculture has initiated several programs to support date palm cultivation in the Jordan Valley since 2000 with local NGO participation.

Egypt

According to the Egyptian Ministry of Agriculture, date palms cultivation extends in most governorates of the country where there are about 20 million palm trees, representing 73,653 acres, or about 6.32% of the total fruit cultivated land, as it currently reaches approximately 14% of the total fruit production. This increase is attributed to the expansion of the areas planted with palm trees in the governorates of Matrouh, New Valley, North Sinai, South Sinai, the Red Sea, Nubaria, Toshka, Al Uwaynat, and modern reclaimed lands.

Due to the varied climatic conditions in Egypt, the wet and semi-dry varieties have spread in the Delta and Middle Egypt regions, while the Upper Egypt region, especially Aswan, is known to uniquely contain dry varieties.

Palm trees need relatively high temperatures and low amount of humidity during the summer to produce fruits with good quality and high yield, specific thermal conditions that differ for different varieties are required.

A team of scientists consisting of researchers from the Genetic Engineering Research Institute, and the Central Laboratory for Palm Research and Development of the Agricultural Research Center, as well as the Bioinformatics Department of Nile University succeeded in determining the initial version of the genetic map for some varieties of date palms. Therefore, this accurate information about the commercially desirable species can be used to predict the type and gender of palm trees planted, and to contribute with reveling ways to increase Egypt's production of palm trees as well, thus enhancing its reproduction developing programs to protect the plants from diseases and pests.

Some indicators of the growing interest in palm cultivation:

Date palm tissue culture laboratory

Many countries rely on traditional agricultural methods such as seed and seedling planting, so in order to make a change by developing palm cultivation to increase its production, the Palm Tissue Cultivation Laboratory was established in 1989 at the UAE University, which intended to produce hundreds of thousands of palm seedlings. Consequently, the laboratory gained a prominent scientific position commercially as one of the largest laboratories for palm trees propagation.

Palm tissue cultivation has many advantages compared to the traditional methods, such as:

  • Increasing the cultivation of female seedlings that are free of diseases and pests and resilient seedlings, or best pollen producing male seedlings.
  • Cultivation of offshoots in sustainable lands directly without waiting for the incubation phase (2-3 years), the offspring then have an entire root system (offspring with whole cells) and are planted during the propagation season (August – September) or (March – April).
  • Increasing the production of selected types of dates. One of the most significant advantages of this method is the homogeneity of the produced shoots, which guarantees the homogeneity and velocity of plant growth, as the crop can be harvested after only 4 years of planting.
  • Palm seedlings can be propagated from known varieties or from cultivars with a seed origin.
  • Ensuring an easy and rapid exchange of plant materials between different regions of the country, or between countries, without risking the spread of diseases or pests.
  • Obtaining offsets from palm trees that have lost their ability to produce offspring.
  • Considered to be an economic aspect as a result of increasing production in large quantities without causing any type of diseases.

In addition to that, the Dates International Council was established in Saudi Arabia, a large number of conferences and exhibitions were also held in MENA to enhance trade exchange between producing and consuming countries and also to encourage the exchange of expertise among them.

Popular date festivals such as the Palm Carnival in Saudi Arabia were organized, as well as the Emirates International Palm and Date Festival, which was arranged by Abu Dhabi Food Control Authority.

Causes of the decline in date palm production in the Arab region

Agricultural pesticides: Palm trees in Egypt are exposed to many insect pests that reduce the harvest or damage it when stored, and as a result of infection with these pests, the loss in the crop may reach 52%. In fact, some of these pests, such as the red palm weevil, may lead to the death of the palm within a year or two, which limits the spread of palm cultivation in many areas. In addition, these pests don’t just affect the fruit, but also the fronds, branches, roots and the stems.

Lack of the farmers awareness on how to fight agricultural pests.

Using traditional agricultural methods instead of modern technologies for irrigation and fertilization; increasing their rates leads to an increase in the rates of productivity of date palms and thus causing the economic outcome to rise.

Palm trees aging, which leads to a lack of production as is the case in Algeria and Tunisia, where 35% of their palms suffer from a lack of production due to their aging process.

Poor marketing as a result of lack of experience internally and externally.

Weak technical expertise that allows raising the level of the product to fit the international standards of foreign markets, as is the case in some small producing countries.

The high cost of production in the case of poor infrastructure such as roads, high transportation costs, pollen prices, fertilizers and pesticides, as is the case in Palestine where Israel controls palm pollen and pesticides for this type of tree.

Wars and political instability, as happened in Iraq, which toped the list of dates producing countries with more than six hundred species, and it is the place where man began planting palm trees four thousand years ago according to the head of the Date Palm Center at Basra University, Dr. Kazem Jasam Hammadi, who stated for “Deutsche Welle” channel the decline causes in the number of date palms in Basra, which he attributed to the war and high levels of salinity due to the rise in Gulf waters, in addition to the population invasion at the expense of palm groves.

 

Countries that have made qualitative progress

Palestine

Despite what may seem a small market compared to the other major markets, date producers in Palestine have made a quantum leap in the cultivation of palm trees in terms of quantity and quality within a short period not exceeding six years. The Palestinian farmer was able to plant 59,000 thousand palm seedlings; an area of ​​4,249 acres during the period (2006 - 2012).

A study issued by the Chamber of Commerce, Agriculture and Industry in Jericho city and the Jordan valley (Al Aghwar) in 2014 indicated that date palm cultivation is one of the most promising investments, as the production of dates doubled between 2012 and 2014 by 100%, bringing the production amount to about 4000 tons. There are other types of dates in Palestine such as Al-Barhi, Al-Hayani and Medjool.

According to the study carried out by the Jericho Chamber of Commerce and Agriculture, dates exports reached 50% of the total agricultural exports during 2011 - 2014, because Palestinian dates fit the international quality standards, which have competed with Israeli dates on the international market. The total number of employees and workers during the harvest season was estimated at 3200 persons.

Rare dates: pass under the sea

Medjool dates are considered one of the finest types of dates produced in the Palestinian, Jordanian territory, on regional and international levels. Due to its growth in areas below sea level, the percentage of oxygen increases, which gives it a distinct flavor and color. As for the expected output of "Majhoul or Medjool" dates for the year 2015, it reached 4 to 5 thousand tons, and this figure may double ten times within one decade, according to the officials of Nakheel, which is owned by PADICO Holding Company, whose annual production of this type reached 400 tons out of 26,000 date palm trees. The Palestinian market is small, but it is a promising market. "This rare date is grown in the Palestinian valleys and parts of Mexico and California, but the" Medjool "dates grown under the sea remain the most distinctive and highest quality, as stated by Engineer Tariq Al-Qawasmi, General Manager of the Arab Agricultural Company in Jericho.

Moamen Mazen Sinokrot, General Manager of Pal Garden in Jericho, which produces 600 tons of dates per year, said that he expects significant growth in the coming period that may reach 30% annually, as a result of high demand and high return on investment.

Palestine won first place (for the fourth category) in the Khalifa International Award for Date Palm in its seventh congregation as the best development project in the field of date palm development, in which 34 Arab and foreign countries participated with 137 research. Dr. Nasser Al-Jaghoub, head of the Agricultural Risks and Insurance Fund, and Ahmed Fares, Director of Jericho Directorate at the Ministry of Agriculture, won the award.

The characteristics of the Medjool or Majool palm tree

The origin of this variety is from the Kingdom of Morocco, but it disappeared from there due to agricultural pests that affected it, so its seedlings were transferred to California and then to the Jordan Valley areas in Palestine and Jordan. This variety is characterized by a medium-sized stem, and short fronds of medium bending, and the bases of the fronds are of medium width, starting with a dark green and then yellowing, and showing lines or brown spots in the middle, the number of thorns on a single frond ranges from 30 to 38, although the fruit is considered amongst the soft varieties, other type of dates fruit can be softer than meat in comparison. The fruits of this variety may suffer damage from rain and high humidity, but to a small degree. The date palm yield ranges from 80 - 100 kg per year.

Jordan

In Jordan there are about a quarter of a million trees, and the Jordan Valley region is the most famous for its palm cultivation and some areas of the northeastern desert (Al-Azraq), and Jordan is making great efforts to develop this cultivation appropriate to the nature of a large part of its lands. Where agricultural reserves for this purpose were being established, as the United Arab Emirates supplied the Kingdom with fifty thousand seedlings of tissues originating from different varieties to study their suitability for agriculture, they included Barhi, Maktoumi, Khalas, Sandy Gish, Khadrawi, Razeer, Zuhdi, Namishi. As for the interest in Medjool dates, it began in Jordan some twenty-five years ago.

Dates are the future sustenance

Engineer Muhammad Batayneh, General Manager of AgriJordan (which grows approximately 4,500 trees), stated that the date palm is the future cultivar, due to the uniqueness of this tree in its ability to purify the water it absorbs from the soil so that the plant does not secret any heavy metals or unwanted elements to the fruit. Because normally, palm trees are irrigated with recycled sewage water, which is a source for many palm farms due to the severe water shortage in the area. As a result to the unique quality of the fibers of the long stem of the palm, it purifies the water as a natural water filter. Batayneh, who is proud of the Jordan Valley dates, especially Medjool dates which are among the best in the world, carries on saying that the future of fruit and vegetables cultivation is endangered because of clean water shortage. However, palm cultivation remains feasible and profitable, and thus the cost of repeated water for irrigation purposes can be borne."

Drive raised its market share to almost 22% in February

GB Auto’s non-banking financial services (NBFS) arm, Drive, had the largest share of Egypt’s factoring market in February on the back of doubling lending, according to a recent report by the Financial Regulatory Authority (FRA).

Drive raised its market share to almost 22% in February after loaning out EGP 254 million, when compared to EGP 115 million in January.

Egypt Factors Company ranked second in terms of the market share at 17.7%, followed by QNB Factoring with 16%.

On a yearly basis, monthly lending in the sector hiked 40% to EGP 1.17 billion in February 2021 from EGP 830.1 million in February 2020.

Total lending in the sector now stands at EGP 6.93 billion.

In February, the value of microloans levelled up 14% to EGP 20.2 billion from EGP 17.7 billion over the same period last year.

 source: zawya

The licenses that will be awarded to up to 3 companies will allow them to provide e-signature certificates, e-seal, and time stamp services for both individuals and businesses, according to ITIDA

Egypt’s Information Technology Industry Development Agency (ITIDA) issued on Thursday new licenses for local firms to provide e-signature services.
The licenses, which will be granted to up to three companies, will allow recipients to provide e-signature certificates, e-seal, and time stamp services for both individuals and businesses, according to ITIDA.

ITIDA said that the statement of work will be available at its premise at the smart village through the coming Tuesday, 9 March, for an amount of EGP 40,000.


The statement of work includes the general and financial regulations and conditions stipulated by ITIDA for registration.

It also announced that applicants must be local firms working inside Egypt and meet all conditions and guarantees stipulated in law number 15 of 2004 and its bylaws, in addition to providing all required documents.

The ITIDA is committed to observing all substantive and technical conditions and all the regulations specified by law no.15 for the year 2004 and its executive regulations, according to the statement.

The issuing of additional e-signature services licenses is one of a series of initiatives and policies led by ITIDA that aim to support Egypt’s digital transformation.

ITIDA’s CEO Amr Mahfouz said the issuing of additional e-signature licenses comes in response to the fast development witnessed in the local information technology sector and also to further enhance Egypt’s digital readiness.

Mahfouz explained that the new licenses will enable the spread of high-security e-signature services’ usage to meet the increasing and unprecedented demand across all sectors.

The ITIDA will host a series of Q&A sessions to answer all applicants' queries in March, according to the statement.

After the deadline for submitting bids, the ITIDA will commence reviewing and evaluating all bids by a committee of specialists and experts, and results will be officially announced soon afterwards.

The ITIDA said that it is committed to awarding licenses in a period not exceeding 60 days from the date of submitting license applications, and after the submission of all required documents, unless ITIDA decides to extend applications grace-- period.

The ITIDA licenses will be valid for three years.

The e-signature law was issued in 2004 to support Egypt’s e-commerce industry by securing the internet as a legally viable medium for digital transactions in order to boost digital transformation in all state sectors.

The bylaws of the e-signature law No. 361 of 2020 have been amended under the decision of the communications and information technology minister to accelerate Egypt’s digital transformation adoption, strengthen the central role of e-signatures in developing the efficiency of administrative work, improve government services, and add to Egypt’s competitiveness globally.

In 2020, Egypt was ranked among the top 10 improvers in Roland Berger’s Digital Inclusion Index.

The index measures and analyses levels of digital inclusiveness in 82 countries across the globe based on their scores across four digital inclusion levers: accessibility, affordability, ability, and attitude.

source: Ahramhram

International Monetary Fund (IMF) raised its forecast for the Egyptian economy for 2020/2021 to 2.8 percent, from 2 percent in its forecast in June 2020.

In the report of the first review of the Credit Standards Arrangement Program for Egypt, the IMF expected the growth of the Egyptian economy by about 5.5 percent during the fiscal years 2021/2022 and 2022/2023.

According to the report, the growth of the Egyptian economy in 2024/25 is expected to reach 5.8 percent, after recording 5.6 percent in 2023/24.

The report pointed out that the abolition of closure measures and partial curfew in Egypt helped to show the Egyptian economy "early signs of recovery" after a more moderate slowdown than expected.

Egypt was one of the few countries that recorded growth during 2020, and the report estimated the growth of the Egyptian economy in 2020 by 1.5 percent.

On the other hand, this will mean that the 2022/2021 fiscal year will witness less dramatic growth, as the recovery is expected to start sooner than expected.

For his part, Minister of Finance,Mohamed Maait, indicated that the results of the consultations conducted by the IMF mission on the performance of the Egyptian economy, through video technology, during the period from 4 to 18 November 2020, confirmed the recovery of the Egyptian economy from the effects of the "pandemic", exceeding fund experts’ previous expectations, which opens the door for Egypt to obtain additional financing of $ 1.6 billion, as soon as the IMF Board of Governors approves the results of the review, which will be presented to the Board within weeks.

In May, Egypt received $ 2.77 billion from the International Monetary Fund, which represents the value of the rapid credit financing granted to the Egyptian government.

In June, the Executive Board of the International Monetary Fund finally approved the disbursement of a loan to Egypt worth $5.2 billion (equivalent to 3.76 billion special drawing units) for a year, within the framework of the "credit preparedness agreement" tool, to meet the financing needs of the balance of payments resulting from the "Covid-19 epidemic".

source: egypttoday

The six-month reprieve will come into effect once the investors receive their units at the industry clusters recently offered by the Industrial Development Authority

Egypt’s Minister of Trade and Industry Nevine Gamea announced that investors applying for industrial units in the seven new industry clusters will be granted a six-month reprieve from rent.

The six-month reprieve will come into effect once the investors receive their units at the industry clusters recently offered by the Industrial Development Authority (IDA).

Gamea said that the decision aims to relieve the burdens on small enterprises and investors, whilst giving them the opportunity to start their projects.

The minister also announced a two-week extension on the submission period for applications to obtain industrial units in the seven new clusters. The period will now come to a close on 12 December, to give investors an opportunity to prepare feasibility studies for their projects.

Gamea said that the rent set for new units are very affordable for small manufacturers and investors, and that the state has been keen to provide these units at a lower price than the cost. The governmental move aims to support young people, as these clusters were not launched for making a profit.

She also said that the executive regulations under the Micro, Small and Medium-Sized Enterprise Development Law are being drawn up. This represents a significant improvement in terms of facilities, advantages, and investment opportunities that will provide help for young investors working in this promising sector to develop their projects.

Moreover, IDA Chairperson Mohamed Al-Zalat said that the authority is keen to constantly communicate with investors working in all industrial areas and complexes. This aims to help them overcome all the obstacles they may face, and to ensure collaboration to solve their problems.

Al-Zalat said that the IDA is committed to providing all necessary facilities to help investors in the new industrial complexes to obtain all necessary licences for their projects.

He added that units available in the new industry custers will be very distinctive, with each unit equipped with all utilities, including sanitation and water networks.

source: zawya

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