Prime Minister Mostafa Madbouly held a meeting with some officials including Minister of Investment and Foreign Trade, Hassan El-Khatib to follow up on efforts to promote investment in the gold sector.

The Prime Minister reaffirmed the government’s commitment to supporting investments, especially in gold, by providing more incentives and facilitations to attract investors to the mining sector and boost its contribution to the national economy.

He stressed the importance of aligning with global advancements in gold investment tools and adopting standardized specifications to integrate Egypt into productive and export-oriented economic blocs.

Madbouly also highlighted the importance of gold investment funds in creating a safe investment environment and providing diverse options for various segments of society. This contributes to meeting public demand for investing in the precious metal.

For his part, El-Khatib reviewed a number of proposals aimed at enhancing Egypt’s gold investment capabilities, enabling the country to meet international standards and practices in mining and gold investment.

In early July, the Egyptian Parliament gave final approval to a draft law, permitting the Minister of Petroleum and Mineral Resources to contract with the Egyptian Mineral Resources and Mining Industries Authority and Centamin Company. The purpose of this contract is to exploit gold ore and associated minerals in the Sukari gold mine.

Under this agreement, Centamin will have the right to exploit the Sukari area for 30 years, and fully self-finance the project without burdening the country.