Egypt Bets on Ancient Finds to Pull Tourism out of Pandemic

In this April 24, 2021 file photo, people visit the new National Museum of Egyptian Civilization in Old Cairo. (AP)
In this April 24, 2021 file photo, people visit the new National Museum of Egyptian Civilization in Old Cairo. (AP)
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Egypt Bets on Ancient Finds to Pull Tourism out of Pandemic

In this April 24, 2021 file photo, people visit the new National Museum of Egyptian Civilization in Old Cairo. (AP)
In this April 24, 2021 file photo, people visit the new National Museum of Egyptian Civilization in Old Cairo. (AP)

Workers dig and ferry wheelbarrows laden with sand to open a new shaft at a bustling archaeological site outside of Cairo, while a handful of Egyptian archaeologists supervise from garden chairs. The dig is at the foot of the Step Pyramid of Djoser, arguably the world’s oldest pyramid, and is one of many recent excavations that are yielding troves of ancient artifacts from the country’s largest archaeological site.

As some European countries re-open to international tourists, Egypt has already been trying for months to attract them to its archaeological sites and museums. Officials are betting that the new ancient discoveries will set it apart on the mid- and post-pandemic tourism market. They need visitors to come back in force to inject cash into the tourism industry, a pillar of the economy.

But like countries elsewhere, Egypt continues to battle the coronavirus. In early May, the government announced that 1 million people had been vaccinated, though that number is believed to be higher now.

In the meantime, authorities have kept the publicity machine running, focused on the new discoveries.

In November, archaeologists announced the discovery of at least 100 ancient coffins dating back to the Pharaonic Late Period and Greco-Ptolemaic era, along with 40 gilded statues found 2,500 years after they were first buried. That came a month after the discovery of 57 other coffins at the same site, the necropolis of Saqqara that includes the step pyramid.

“Saqqara is a treasure,” said Tourism and Antiquities Minister Khaled el-Anany while announcing the November discovery, estimating that only 1% of what the site contains has been unearthed so far.

“Our problem now is that we don’t know how we can possibly wow the world after this,” he said.

If they don’t, it certainly won’t be for lack of trying.

In April, Zahi Hawass, Egypt’s best-known archaeologist, announced the discovery of a 3,000-year-old lost city in southern Luxor, complete with mud brick houses, artifacts and tools from pharaonic times. It dates back to Amenhotep III of the 18th dynasty, whose reign (1390–1353 B.C.) is considered a golden era for ancient Egypt.

That discovery was followed by a made-for-TV parade celebrating the transport of 22 of the country’s prized royal mummies from central Cairo to their new resting place in a massive facility farther south in the capital, the National Museum of Egyptian Civilization.

The Red Sea resort of Sharm el-Sheikh is now home to an archaeological museum, as is Cairo’s International Airport, both opened in recent months. And officials have also said they still plan to open the massive new Grand Egyptian Museum next to the Giza Pyramids by January, after years of delays. Entrance fees for archeological sites have been lowered, as has the cost of tourist visas.

At the newly opened National Museum of Egyptian Civilization, Mahmoud el-Rays, a tour guide, was leading a small group of European tourists at the hall housing the royal mummies.

“2019 was a fantastic year,” he said. “But corona reversed everything. It is a massive blow.”

Tourism traffic strengthened in the first months of 2021, el-Anany, the minister, told The Associated Press in a recent interview, though he did not give specific figures. He was optimistic that more would continue to come year-round.

“Egypt is a perfect destination for post-COVID in that our tourism is really an open-air tourism,” he said.

It has recorded a total of 14,950 deaths from the virus and is still seeing more than a thousand new cases daily. Like other countries, the real numbers are believed to be much higher.

Egypt also had a trying experience early on in the pandemic, when it saw a coronavirus outbreak on one of its Nile River cruise boats. It first closed its borders completely until the summer of 2020, but later welcomed tourists back, first to Red-Sea resort towns and now to the heart of the country — Cairo and the Nile River Valley that hosts most of its famous archaeological sites. Visitors still require a negative COVID-19 test result to enter the country.

In a further cause for optimism, Russia said in April that it plans to resume direct flights to Egypt’s Red Sea resort towns. Moscow stopped the flights after a Russian airliner crashed over the Sinai Peninsula in October 2015, killing all on board.

Amanda, a 36-year-old engineer from Austria, returned to Egypt in May. It was her second visit in four years. She visited the Egyptian Museum, the National Museum of Egyptian Civilization and Islamic Cairo, in the capital’s historic center.

She had planned to come last year, but the pandemic interfered.

“Once they opened, I came,” she said. “It was my dream to see the Pyramids again.”

El-Rays, the tour guide, says that while he’s seeing tourists starting to come in larger numbers, he knows a full recovery will not happen overnight.

“It will take some time to return to before corona,” he said.



Egypt Seeks Faster Progress on Libya Gas, Refining and Power Projects

Egyptian Foreign Minister Badr Abdelatty speaks during a press conference with Minister of Information Diaa Rashwan (not pictured) in Cairo, Egypt, March 25, 2026. (Reuters)
Egyptian Foreign Minister Badr Abdelatty speaks during a press conference with Minister of Information Diaa Rashwan (not pictured) in Cairo, Egypt, March 25, 2026. (Reuters)
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Egypt Seeks Faster Progress on Libya Gas, Refining and Power Projects

Egyptian Foreign Minister Badr Abdelatty speaks during a press conference with Minister of Information Diaa Rashwan (not pictured) in Cairo, Egypt, March 25, 2026. (Reuters)
Egyptian Foreign Minister Badr Abdelatty speaks during a press conference with Minister of Information Diaa Rashwan (not pictured) in Cairo, Egypt, March 25, 2026. (Reuters)

Egypt aims to accelerate energy projects with Libya, including gas pipeline links, refining of Libyan crude in Egypt and an electricity interconnection, Egyptian Foreign Minister Badr Abdelatty said late on Saturday.

Abdelatty's comments were in ‌a ministry ‌statement after a meeting ‌with ⁠Libya’s acting oil ⁠and gas minister Khalifa Abdulsadek in Tripoli.

Abdelatty also ‌called for cooperation on petroleum products and the completion of projects to refine Libyan ‌oil in Egypt and re-export it, the statement said, ⁠adding ⁠that Abdulsadek had said that Libya would continue implementing existing projects and would visit Cairo soon to continue technical talks with Egypt’s petroleum and electricity ministers.

The statement did not provide details on costs or the status of the projects.


GCC: Railway Agreement Sets Joint Framework for Project Implementation and Operation

GCC transport ministers pose for a group photo following the 27th committee meeting in Kuwait. (GCC Railway Authority)
GCC transport ministers pose for a group photo following the 27th committee meeting in Kuwait. (GCC Railway Authority)
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GCC: Railway Agreement Sets Joint Framework for Project Implementation and Operation

GCC transport ministers pose for a group photo following the 27th committee meeting in Kuwait. (GCC Railway Authority)
GCC transport ministers pose for a group photo following the 27th committee meeting in Kuwait. (GCC Railway Authority)

Jasem Albudaiwi, secretary-general of the Gulf Cooperation Council (GCC), said on Sunday that the signing of the General Agreement on the GCC Railway Project marked an important step toward establishing an integrated regional transport network.

He said the network would facilitate the movement of citizens and residents, ease freight transport, boost intra-GCC trade efficiency and strengthen member states’ economic competitiveness and the region’s position in regional and international trade.

Albudaiwi's remarks came at the signing ceremony in the Bahraini capital, Manama, on Sunday, held under the patronage and in the presence of Bahrain’s Crown Prince and Prime Minister Salman bin Hamad Al Khalifa.

He said the project reflected the GCC’s shared ambition to connect member states and improve mobility and trade by linking their economic and industrial hubs, ports and logistics centers.

He added that the project would create opportunities for safe, reliable, affordable and environmentally friendly transport services that meet development needs, serve the aspirations of future generations and strengthen economic integration among GCC states.

Albudaiwi said the agreement sets a common framework for member states to implement and operate the project in coordination with their national railway networks, while establishing mechanisms and a timetable to accelerate its completion.

Albudaiwi praised GCC leaders and transport ministers for their support of strategic regional projects, thanking Bahrain’s crown prince and prime minister for hosting the signing ceremony and officials for advancing the railway project.


Mega Projects Drive Growth for Saudi Small and Medium Factories

A factory in Madinah’s industrial city. (SPA)
A factory in Madinah’s industrial city. (SPA)
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Mega Projects Drive Growth for Saudi Small and Medium Factories

A factory in Madinah’s industrial city. (SPA)
A factory in Madinah’s industrial city. (SPA)

Mega projects in Saudi Arabia are offering increasing opportunities for small and medium-sized factories to expand their businesses and integrate into local supply chains. This shift is accompanied by growing demand for industrial products and auxiliary services, including transport, warehousing, maintenance, and engineering services.

This demand has the potential to broaden the domestic manufacturing base, enabling factories to scale up capacity and upgrade their products rather than limiting their operations to meeting existing market needs. However, capitalizing on these opportunities remains contingent on the factories' ability to overcome financing and liquidity challenges, secure qualification from major corporations, and meet strict requirements for volume, specifications, and delivery schedules.

Experts speaking to Asharq Al-Awsat noted that integrating small and medium-sized industrial enterprises into supply chains requires tailoring opportunities to match their actual capacities. They also stressed the need to develop financing solutions that assist these companies in executing contracts, alongside creating avenues for them to build a track record that qualifies them to compete for larger orders.

A worker at a factory in Saudi Arabia. (SPA)

Mega projects expand domestic demand base

Dr. Abdullah Al-Salloum, a finance professor at Imam Mohammad Ibn Saud Islamic University, stated that small and medium-sized enterprises represent roughly 90 percent of global businesses, provide 60 to 70 percent of employment, and account for about 50 percent of the world's GDP.

Strengthening their role in industrial activity remains a primary developmental objective, he added.

He explained that Saudi Arabia is working to expand the contribution of these enterprises by developing the regulatory environment and national industrial strategies, improving logistics services, and reducing investment risks, as well as stimulating demand for local products through mega projects, value chains, procurement, and local content programs.

Al-Salloum added that the industrial ecosystem provides financing solutions and demand guarantees for national products, alongside qualification and operational support programs. He cited the industrial business accelerator affiliated with the Public Investment Fund, which he said received 350 applications over the past year.

These initiatives offer domestic manufacturing an opportunity to strengthen its presence in the local market and leverage that footing to expand into regional and international markets, he remarked.

The participation of small and medium-sized enterprises in the supply chains of mega projects is not limited to factories producing goods, but extends to supporting activities and services, such as transport, warehousing, maintenance, and engineering services, thereby expanding the base of beneficiaries from investment spending, he said.

The higher the capacity of local industry to meet the needs of these projects, the greater the share of spending that remains within the national economy, he explained.

He cited as an example the spending of the PIF and its subsidiaries on local content, which reached 207 billion riyals ($55.2 billion) during 2024, according to an announcement by the fund's governor, Yasir Al-Rumayyan. He explained that while this figure is not exclusive to small and medium enterprises or industrial factories, it reflects the volume of demand that local factories can leverage to expand their businesses and develop their products.

Visitors at the 2025 Saudi Industrial Expo. (Saudi Made)

Al-Salloum explained that recurring orders help factories raise their capacity utilization rates and distribute fixed costs across a larger number of units, thereby improving efficiency and enabling them to invest in equipment, technologies, and workforce training. It also provides them with a supply track record and practical experience that can be leveraged to attract new clients both within Saudi Arabia and abroad.

He said that reducing reliance on imports is linked to the capacity of local industry to produce a wider range of goods, components, and services that were previously imported, increasing domestic value-added, while acknowledging the continued need for certain imports during the initial stages of industrial development.

Al-Salloum added that the expansion of domestic production creates jobs across multiple fields, including technicians, engineers, and workers in quality control, operations, and maintenance.

The sustainability of these jobs depends on the factories' capacity to diversify their client base and avoid relying on a single project or entity, he remarked.

Liquidity and demand continuity present challenges for factories

Consulting engineer Abdulaziz Aba Arrous, CEO of A&BC for Safety Tools and Materials Manufacturing, stated that while the Saudi industrial sector has received government support and incentives that helped boost confidence in investment and expansion, factories still face daily challenges related to liquidity and demand continuity.

He explained that executing a large order requires the factory to purchase raw materials and pay wages and production costs before collecting its dues, creating a financing gap between the start of implementation and receiving the supply value. Furthermore, scaling up production capacity demands investment in equipment and recruiting qualified technical labor, as well as bearing continuous operational obligations.

Clarity regarding future demand, the availability of long-term contracts, and the regular settlement of dues are factors that help enterprises plan, expand, and utilize available support and incentives, rather than operating under intermittent orders that make it difficult to determine production and investment needs, he continued.

Aba Arrous said that opportunities for small and medium-sized factories to enter the supply chains of mega projects exist, but they vary depending on the nature of the product, the volume of demand, and the factory's ability to commit to specifications, quantities, and delivery schedules.

He added that the "Etimad" platform allows enterprises to view government tenders, while the preference for national products, in accordance with applicable regulations, contributes to boosting the competitiveness of local factories. However, the challenge with major corporations often begins at the stage of registration and qualification as an approved supplier, prior to accessing an actual supply opportunity.

Aba Arrous explained that while a factory may possess a quality product and adequate production capacity, it often faces lengthy qualification procedures, or orders with volumes and payment terms that exceed its financial capabilities. Therefore, he highlighted the importance of awarding small and medium-sized enterprises initial orders tailored to their capacities, with the volume of business scaling up based on execution quality and adherence to delivery schedules.

This approach allows the factory to prove its capability while enabling the buyer to assess its actual performance, he noted.

Qualification and financing requirements determine expansion opportunities

Regarding the obstacles preventing factories from securing supply contracts, Al-Salloum stated that financing challenges, production capacity, qualification requirements, and contract accessibility are interconnected.

A factory may possess a quality product but lack the experience necessary to qualify as a supplier, or it may secure a contract without having sufficient liquidity to execute it, he explained.

He pointed to the PIF's announcement in September 2026 of the launch of the "Tawreed" company, aimed at providing supply chain financing products, including early payment against approved invoices. He said that while these solutions can improve cash flows for factories, they do not replace the need for pre-invoice financing, which is essential for the enterprise to purchase raw materials and commence production.

Quality, safety, and compliance requirements are essential, but experience, financial solvency, and guarantee demands should align with the contract size and the nature of its risks, preventing qualification criteria from becoming a barrier to smaller factories, he added.

He also called for providing these enterprises with opportunities to prove their capabilities through smaller orders before moving to larger contracts.

A view inside of a Saudi factory. (Vision 2030)

For his part, Aba Arrous explained that small and medium-sized factories are capable of supplying various products to mega projects, including metal products, electrical components, packaging materials, and safety equipment, alongside maintenance services and custom manufacturing.

He noted that his company operates in the field of industrial safety equipment, and its products include personal protective equipment for industrial sector workers, such as flame- and heat-resistant clothing and cut-resistant gloves, whose specifications are determined according to the nature of the hazards and usage requirements.

He added that the proximity of local factories to clients gives them an advantage in monitoring their needs, managing variations in quantities and sizes, and responding to required modifications, compared to direct imports which may take longer in some cases. This proximity helps in developing products and building ongoing supply relationships with clients.

Client diversification ensures sustainable growth

Al-Salloum stressed that overreliance on mega projects or government initiatives could expose enterprises to single-customer concentration risks, making productivity improvements, cost controls, and customer base diversification essential for business sustainability, rather than tying the factory's future to specific contracts or a single entity.

The most significant developmental impact of small and medium factories participating in these projects extends to building more productive enterprises, developing worker skills, and forming a baseline of competitive national products, enabling local industry to sustain itself and grow after the projects conclude, he said.