Egyptian President Abdel Fattah El-Sisi held a meeting with Prime Minister Mostafa Madbouly, Petroleum and Mineral Resources Minister Karim Badawi, and Industry Minister Khaled Hashim. The discussions focused on coordination between the ministries of petroleum and industry, including efforts to enhance regional cooperation in the energy sector. The meeting also covered plans for industrial expansion and deepening local manufacturing to increase the national production value.
Minister Badawi presented the outcomes of the Egypt Mining Forum, which saw participants welcome the President's interest in the mining sector. They expressed appreciation for his directives to address any challenges hindering investment in this sector. The minister also reviewed the performance of the petroleum sector and its impact on economic growth during the 2025-2026 fiscal year.
The discussions included updates on crude oil, condensates, and natural gas production and exploration activities. Minister Badawi highlighted new discoveries and additions to reserves. International reports have praised the Egyptian petroleum and gas sector's achievements. Cooperation between the Petroleum Ministry and the Investment and Foreign Trade Ministry was also examined to promote projects and attract local and foreign investments.
Industry Minister Khaled Hashim reviewed efforts to localize supporting and complementary industries in Egypt, particularly in refractories, alloys, engineering industries, and foundry industries. The meeting explored ways to maximize the use of local scrap and attract industrial investments related to this sector. Minister Hashim also discussed steps to deepen the steel industry and expand the manufacturing of local raw materials.
President El-Sisi directed the necessary measures to be taken to reclaim unused allocated industrial land. This aims to optimize the use of land designated for industrial development. The meeting also covered efforts to enhance industrial cooperation with African countries and the European Union. This cooperation supports state goals to increase production, exports, and technology transfer.
The President emphasized the need to continue facilitating procedures for establishing new factories in priority sectors. He also stressed the importance of intensifying efforts to attract foreign direct investments in the industrial sector. The goal is to accelerate the localization of various industries, enhancing the national economy's productive capacity and competitiveness.
The directives aim to support the comprehensive development of Egypt's industrial and energy sectors. By boosting local manufacturing and increasing production value, the country seeks to achieve sustainable economic growth. The government's efforts focus on creating a favorable business environment and encouraging investments to drive national development forward.
Key points
- President Abdel Fattah El-Sisi directs enhancement of local manufacturing and national production value.
- The meeting discussed industrial expansion, deepening local manufacturing, and increasing the national production value.
- Egypt aims to attract foreign direct investments in the industrial sector to boost economic growth.
