Schneider struggling to find USD, using export proceeds to cover part of its needs
Schneider Electric is facing a shortage of hard currency, but is resorting to using its export proceeds to pay for 50% of its imports, Al Shorouk says. The regional head of the company says Egypt continues to be an attractive market because of the favourable demographic dynamics. Schneider Electric said it is also partnering with the government in its plan to increase the reliance on renewable energy and is working on transforming Sharm El Sheikh into a “green city.” (Al Shorouk, Enterprise)
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.