El Molla Participates in the Economic Group Meeting

El Molla Participates in the Economic Group Meeting

Minister of Petroleum and Mineral Resources Tarek El Molla participated in the Economic Group meeting chaired by the Prime Minister Mostafa Madbouly, in the presence of a number of ministers, to discuss the several economic issues during the current period.

The meeting witnessed detailed presentations about the resources and uses of foreign currency during the past period as well as the state’s efforts to boost the outcomes of foreign currency, especially through its strategy to enhance the exports and increase the foreign investments rates.

Also, the meeting tackled the success of Egypt in the first issuance of Islamic sovereign sukuk and how it attracted the investments as more than 250 investors in various global financial markets applied for it, as well as covering the offering by four times its value.

Additionally, the efforts of the country to increase the facilities and motivations for investments has been mentioned during the meeting, on top of which came the recent delivery of the smart card “Golden License” to 13 different companies.

At the end of the meeting, Madbouly urged to conduct a meeting during the next week to reach an agreement on the final draft for the Green Hydrogen National Strategy which came in line with growing interest in expanding the investments directed towards renewable energy.


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