Minister of Petroleum and Mineral Resources Karim Badawi met with executive leaders of the Egyptian Mineral Resources Authority (EMRA) to discuss strategies for developing the mining sector and attracting new investments.
During the meeting, Badawi listened to the team’s visions and recommendations, as well as their needs to improve the performance of key departments integral to the various phases of the mining process.
The minister emphasized that this meeting marks the beginning of a series of discussions with the EMRA team, and the outcomes will be used to enhance operations and increase investment in the mining sector.
He further stated that the main objective for the mining sector is to raise its contribution to the country’s GDP, which currently stands at just 1%, to a target of 5-6%. Badawi stressed the importance of working with scientific and practical principles to improve performance, ease investment processes, and create an attractive investment environment.
Additionally, Badawi highlighted the critical role of mineral transformation industries in adding value to the Egyptian mining sector, aiming to maximize returns for the state.
The minister also emphasized the need for creating competitive and attractive investment agreement frameworks to diversify investment sources, both from national private sector players and international investors.
