Minister of Petroleum Presents Egypt’s Vision for Mining Development to UAE Investors
As part of efforts to strengthen bilateral relations and open new horizons for joint investment, Eng. Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, met during his visit to the United Arab Emirates with Mariam Al-Mheiri, Head of the Office for International Affairs at the Presidential Court and Managing Director of International Holding Company, in the presence of a high-level delegation from both sides.
Developing Egypt’s Mining Sector
The minister opened the meeting by affirming the Egyptian political leadership’s and government’s commitment to removing all obstacles facing investors, emphasizing that encouraging investment is a strategic priority at this stage.
Badawi also detailed the continuous efforts by the Ministry of Petroleum to enhance the sector’s attractiveness to both local and foreign capital, through an integrated package of reforms and executive measures.
The minister highlighted the ministry’s success in implementing a comprehensive proactive plan to secure the local market’s natural gas supply, which relied on diversifying sources, adopting multiple alternatives, increasing domestic production, and receiving gas via pipelines.
He also pointed to the development of advanced infrastructure for importing liquefied natural gas through regasification vessels. These steps, he noted, have provided the sector with significant flexibility and ensured the sustainability of the supply system, enabling Egypt to respond efficiently to challenges and sudden changes in energy markets.
On another front, the minister showcased the leap achieved in the mining sector, noting the major transformation of the Mineral Resources Authority into an economic entity, which has contributed to modernizing the exploitation system for gold and minerals, making it more competitive and attractive to investors.
He also referred to the development and unification of the licensing system, facilitating investment and streamlining procedures for investors, thus strengthening Egypt’s ability to attract capital to the mining sector.
For her part, Mariam Al-Mheiri expressed her welcome to the Egyptian delegation and her aspiration to deepen cooperation between the two countries in the fields of energy and mining, drawing on the strong brotherly ties between Egypt and the UAE on all levels.
The meeting was attended on the Egyptian side by Eng. Ihab Ragai, First Undersecretary of the Ministry for Production Affairs; Mr. Nasser Shoman, Undersecretary for Transport and Marketing; and Dr. Mohamed El-Bagouri, Supervisor of the Central Department of Legal Affairs at the Ministry of Petroleum and Mineral Resources.
