Minister of Foreign Affairs, International Co-operation and Egyptians Abroad Badr Abdel-Aati and Minister of Petroleum and Mineral Resources Karim Badawi held a briefing on Sunday for representatives of foreign embassies accredited to Egypt.
This is part of the state’s efforts to attract foreign investment and strengthen international co-operation in the energy and mineral resources sectors.
Addressing the gathering, Minister Abdel-Aati highlighted the importance of the meeting amid unprecedented challenges facing the global energy sector as a result of regional and international developments that have disrupted energy supply chains and maritime navigation, affecting global market stability and energy security.
He stressed that these challenges require stronger international cooperation and coordinated efforts to enhance energy security and diversify energy sources.
Abdel-Aati outlined the factors underpinning Egypt’s position as a regional energy hub, citing its strategic location, advanced infrastructure and substantial investments in conventional, clean and renewable energy.
He also underscored the mining sector’s significant potential to support economic growth, accelerate the energy transition and reinforce Egypt’s regional role in the energy sector.
The foreign minister reaffirmed the importance of expanding co-operation with regional and international partners in energy and mineral exploration and production, promoting the exchange of expertise and advanced technologies, and maximising the utilisation of Egypt’s natural resources.
He noted that the government continues to implement reforms and investment incentives aimed at attracting greater foreign investment in the energy and mining sectors.
Petroleum minister, for his part, reviewed the government’s efforts to enhance the attractiveness of the petroleum and mining industries through competitive investment incentives, modernised exploration agreements and the regular settlement of financial dues owed to foreign partners.
Badawi also highlighted investment opportunities available through Egypt’s Exploration and Production Gateway, seismic survey programmes in the Red Sea, Eastern Mediterranean, Southern Western Desert and Gulf of Suez, as well as opportunities in the country’s advanced gas infrastructure and petrochemical industry.
He further outlined legislative and regulatory reforms aligned with international best practice and called on ambassadors to support the international expansion of Egyptian companies by connecting them with opportunities in their respective markets.
