Prime Minister Mostafa Madbouly has stressed the importance of strengthening co-operation between the Ministry of Petroleum and Mineral Resources and the Ministry of Investment and Foreign Trade to maximise returns on state-owned assets, improve petroleum companies’ economic structures and enhance their efficiency, growth potential and competitiveness.
The prime minister made the remarks after a Cabinet meeting, during which he witnessed the signing of a co-operation protocol by Minister of Petroleum and Mineral Resources Karim Badawi and Minister of Investment and Foreign Trade Mohamed Farid.
The agreement aims to promote investment opportunities in oil, gas and mining, attract capital from financial institutions, investment funds and private-sector partners, diversify financing sources, explore innovative investment mechanisms and expand the use of capital market instruments.
It will also draw on the expertise of the Ministry of Investment and its affiliated entities, particularly the Sovereign Fund of Egypt for Investment and Development.
Minister Badawi, for his part, said the protocol builds on inter-ministerial co-operation to secure project financing, accelerate expansion plans, strengthen private-sector partnerships and improve asset management.
Integrating investment policies with sectoral development plans will enhance companies’ financial, technical and competitive capabilities, support expansion in Egypt and overseas, increase domestic production, reduce imports and boost the sectors’ contribution to the national economy.
He noted that settling outstanding dues to international partners and maintaining regular payments have improved the investment climate, restored investor confidence and encouraged global companies to increase investment in research, exploration and production.
This progress also opens opportunities in refining, petrochemicals, manufacturing and other value-added activities.
Regarding mining, Minister Badawi highlighted legislative reforms and investment incentives designed to attract investors, expand exploration and mineral resource development, promote local processing and maximise returns from Egypt’s mineral wealth.
Meanwhile, Minister Farid said maximising economic returns requires modern financing instruments, efficient resource utilisation and commercially viable projects that strengthen production and corporate growth.
Diversified financing and capital market tools can support expansion, deepen private-sector participation and connect investment, finance and production.
He added that deeper industrialisation, expanded domestic manufacturing and related industries are essential to retaining greater value from natural resources, transferring knowledge and strengthening Egyptian companies’ productive capabilities.
