Minister of Petroleum and Mineral Resources Tarek El Molla left for Switzerland to participate in the activities of the World Economic Forum (Davos).

The event is attended by about 2,500 leaders and experts from all over the world after governments eased precautionary measures for the corona pandemic.

El Molla highlighted the importance of Egypt’s participation in this global gathering in order to strengthen relations and joint coordination with active countries in the global economy and to contribute to strengthening policies that encourage investments in all economic fields in general and the energy sector in particular.

The minister stated that this conference is an opportunity for dialogue, exchange of views and meeting with global energy officials, and a window to present the activities of the Egyptian petroleum industry to attract more investments. This is in addition to discussing opportunities available in the areas of the energy transition, especially since Egypt will host the COP 27 next November.

The forum will focus on global challenges that governments are currently facing, including the post-pandemic recovery, the current Russia-Ukraine crisis, and climate change. The event will tackle other economic challenges such as strengthening global and regional cooperation, ensuring economic recovery, shaping a new era of growth, building healthy and equitable societies, and protecting climate, food and nature, as well as driving industrial transformation.