Egyptian PM reviews projects with Electricity, Investment Ministers
Prime Minister Mostafa Madbouly on Sunday met with Mahmoud Essmat, Minister of Electricity and Renewable Energy, and Hassan El-Khatib, Minister of Investment and Foreign Trade, to discuss and review several joint projects. The meeting took place at the New Administrative Capital.
Earlier on Sunday, Madbouly met with El-Khatib to follow up on important projects. During that meeting, El-Khatib presented the outcomes of several foreign tours he undertook the previous week as part of the Ministry’s efforts to advance and strengthen foreign trade and to promote investment opportunities in Egypt.
Madbouly emphasised the government’s commitment to creating a more attractive investment climate within various sectors of Egypt, citing their competitive edge and promising opportunities. He also highlighted the implementation of measures designed to attract investors and strengthen the role of the private sector in economic activities.
The Prime Minister reaffirmed the government’s commitment to the state-offering programme, which is part of the State Ownership Policy document. He emphasised the vigorous pursuit of procedures related to this programme, which aims to enhance the role of the private sector and achieve the state’s objectives.
Madbouly pointed out that collaboration and coordination between the two ministries contribute significantly to promoting investment opportunities in the energy sector and attracting more investment, thereby maximising the potential of the sector, particularly in new and renewable energy.
Mohamed El-Homsani, the official spokesperson for the Cabinet, said that the ministers reviewed cooperation and coordination efforts regarding joint issues and projects. They also discussed ongoing efforts to implement the state offering programme, which includes several companies currently being dealt with as part of the initiative.
El-Khatib discussed his visit to the United Arab Emirates, where he headed the Egyptian delegation at the fourth session of the Egyptian-Emirati Joint Economic Committee. According to El-Khatib, the meetings resulted in an agreement between the two sides to support and enhance economic cooperation in areas including trade, investment, industry, innovation, technology, renewable energy, agriculture, food security and safety, transport, logistics, infrastructure, aviation, land and sea transport. They also agreed to exchange expertise in the establishment and management of industrial complexes and to encourage private sector industrial partnerships in sectors of mutual interest.
El-Khatib’s visit to the UAE also included meetings with Emirati business leaders to review Egypt’s economic policies, investment opportunities, and potential in productive and service sectors. He also met with representatives from 50 international companies, reviewing key features of investing in Egypt and the government’s plan to improve the investment climate and enhance the role of the private sector. Discussions were also held with officials from Etisalat International regarding the company’s current investments and future expansions in the Egyptian market.
El-Khatib also addressed the results of his visit to Morocco, where he met with the Moroccan Minister of Industry and Trade to discuss ways to enhance joint economic relations and maximise trade between the two countries. The ministers agreed to organise a Business-to-Business (B2B) forum in Cairo in April to encourage trade partnerships and business networks between the private sectors. They also agreed to activate the Business Council and prepare for the convening of the Joint Trade Committee.
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