The Egyptian cabinet has approved a presidential decree to formalize a $7.1 million grant agreement for the Egypt Green Skills for the Climate-smart Agribusiness Network Program (EGYCAN), in collaboration with the Canadian government.

 This initiative is designed to enhance employment opportunities in the agribusiness sector by advancing climate-smart practices and relevant industry skills in Beheira, Gharbiya, and Menoufia. The project, spanning five years, aims to directly benefit more than 24,000 students.

During the Cabinet's weekly meeting, the government also approved the issuance of a golden license to MAFI Agricultural Produce Industries for its agri-food industrial venture in Sadat City.

 With investments exceeding $180 million, the project is set to commence operations by March 2026.

 The first phase is projected to generate $200 million worth of agri-food products annually, with production expected to double in the second phase. All output will be allocated for export.

The cabinet has also approved a golden license for the Tunisian company Coficab to establish an automotive cable and electrical factory worth up to $88 million in Tenth of Ramadan City.

 The plant, which will occupy around 30,000 sqm in the industrial zone, is expected to be completed by June 2025 and create 267 jobs.

The facility plans to source 60% of its materials locally and will dedicate its entire output to exports, serving markets such as Tunisia, the UAE, Turkey, and Eastern Europe.