Minister of Investment and Foreign Trade Mohamed Farid announced the formation of a joint committee with the Petroleum and Mineral Resources Ministry to attract investment and secure financing for strategic projects in the petroleum sector. The committee will include representatives from the two ministries, the General Authority for Investment and Free Zones (GAFI), and the Egyptian Commercial Service.
It will work on identifying investment opportunities, engaging international financing institutions, and supporting partnerships for major energy projects. The announcement came during a meeting between Farid and Petroleum Minister Karim Badawi to discuss ways to increase local and foreign investment in the sector.
for his part, Farid said that Egypt’s competitive advantages, including its strategic location, developed infrastructure, and ongoing economic reforms, continue to strengthen its appeal to investors. The meeting also reviewed opportunities in exploration, production, refining, and petrochemicals.
Officials noted that refining projects worth around $4.5 billion are currently being implemented, alongside plans to expand petrochemical production and increase value-added industries.