House of Representatives Speaker Hanafy el Gebaly Tuesday praised President Abdel Fattah El Sisi’s directives during the UN Climate Change Conference (COP27), which took place in Egypt’s Sharm El Sheikh city, towards localising the projects of green hydrogen and its derivatives.
The move seeks optimisation of energy alongside luring both direct and indirect foreign investments in this vitals domain.
The development of green hydrogen projects aims to promote the participation of the private sector in serving the society and national economy, the speaker said while addressing a parliamentary session held ahead of debating a draft law submitted by the government on incentives of green hydrogen projects and its derivatives.
The bill falls within the framework of state’s continued encouragement of investments and supporting competitiveness as well as its commitment to Article (32) of the constitution which stipulates utilization of renewable energy resources and stimulating investing in them, Gebaly said.
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