Egyptian President Abdel Fattah El-Sisi held a meeting with Prime Minister Mostafa Madbouly, Petroleum and Mineral Wealth Minister Karim Badawi, and Industry Minister Khaled Hashem. The discussions focused on coordination between the petroleum and industry ministries, including efforts to enhance regional cooperation in the energy sector. The meeting also covered plans for industrial expansion, deepening local manufacturing, and increasing the national production's added value.
Minister Badawi presented the outcomes of the Egypt Mining Forum, which saw participants welcome the president's attention to the mining sector. They expressed appreciation for his directives to address any challenges hindering investment in this sector. The minister also reviewed the sector's performance and its impact on economic growth during the 2025-2026 fiscal year.
The petroleum sector's developments, including production and exploration of crude oil, condensates, and natural gas, were also discussed. Recent discoveries and additions to reserves were highlighted, along with international reports praising Egypt's petroleum and gas sector achievements. Cooperation between the petroleum ministry and the Ministry of Investment and Foreign Trade to promote projects and attract investments was also examined.
Industry Minister Khaled Hashem reviewed efforts to localize supporting and complementary industries in Egypt, such as refractories, alloys, and engineering industries. The meeting also touched on maximizing the use of local scrap and attracting industrial investments related to this sector. Minister Hashem outlined steps to deepen the steel industry, expand the manufacturing of local raw materials, and enhance economic benefits.
The meeting addressed the issue of land allocation for industrial zones, with the president directing the retrieval of unused allocated lands. This aims to optimize the use of lands designated for industrial development. The discussions also covered efforts to promote industrial cooperation with African countries and the European Union.
The president emphasized the need to continue facilitating procedures for establishing new factories in priority sectors according to the state's industrial strategy. He also called for intensifying efforts to attract foreign direct investments in the industrial sector and accelerating the localization of various industries. This aims to enhance the national economy's productive capacities and competitiveness.
The meeting's key outcomes reflect the government's commitment to driving growth in the petroleum and industry sectors. The directives issued aim to overcome challenges, enhance cooperation, and attract investments. By implementing these measures, Egypt seeks to bolster its economic development and reinforce its position as a regional hub.
Key points
- President El-Sisi directs retrieval of unused allocated industrial lands to optimize their use.
- The government aims to deepen local manufacturing and increase the added value of national production.
- Efforts to attract foreign investments and promote industrial cooperation with African countries and the EU were also discussed.
