New Company for Gold Manufacture to Be Established in NAC

Egypt's Supply and Internal Trade Minister Ali Moselhi announced the establishment of a new company for the manufacture of gold and jewelry in the New Administrative Capital (NAC).

The company aims at providing raw gold and facilitating sales operations for small manufacturers. It is scheduled to be announced during the NEBU Expo for Gold & Jewelry, which is held under the auspices of the ministry from February 19 to 21.

The announcement came during a conference, held on Saturday between the ministry and General Division of Gold and Jewelry at the Federation of Egyptian Chambers of Commerce, to announce the details of the conference and exhibition.

In the same vein, Moselhi announced a new law regulating the profession of gold and jewelry industry and trade, which will be reviewed by the House of Representatives in the coming period.

SEE News had previously revealed further details about the partnership between the ministry and the Sovereign Fund of Egypt, in addition to banking alliance that includes “Al Baraka Bank”, “Banque Misr”, “National Bank of Egypt”, “The United Bank”, and “Banque du Caire” (Bank of Cairo).

Moreover, there are four companies for the gold and jewelry manufacture, including; Kermina Jewelry, Andrea & George Gold, Wassef Jewelry Company, and King Gold for Jewelry.

Contributed by Omnia Ahmed