They intend to expand local production and exports to international markets
The Egyptian government aims to transform the country into a key regional mining centre. Karim Badawi, Minister of Petroleum and Mineral Resources, said this, stressing that the ministry's priority is to prioritise high value-added projects and maximise the use of natural resources. This is reported by Daily News Egypt, a partner of TV BRICS.
“This will be achieved by expanding local manufacturing projects, producing world-class products, and subsequently exporting to international markets, thereby securing foreign currency for Egypt,” Minister Badawi stated.
Badawi noted that Egypt has developed infrastructure and a favourable geographical location, which creates favourable conditions for the country to become a mining hub.
He pointed out that work is already underway to modernise the subsoil management system and transform the Mineral Resources Authority into an economic entity. This should increase the industry's contribution to GDP to 5-6 per cent, the minister said.
The Minister also expressed the need to prepare a five-year plan for ongoing projects.
Photo: iStock
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