Egypt’s Minister of Environment, Yasmine Fouad met on Wednesday with Mohamed El Sewedy, the Chairperson of the Federation of Egyptian Industries (FEI), and his accompanying delegation to discuss ways to support private sector investments, establish industrial projects that are compatible with environmental requirements, and overcome obstacles to achieving environmentally compatible economic development.
Fouad explained that environmental approvals are not an obstacle to projects, but rather one of the most important studies that guarantee the success and continuity of projects while achieving the interests of all parties, to complete the data before sending it to the ministry.
The ministry has issued 177 environmental approvals from the Environmental Affairs Agency for industrial projects during the period from August to December 2022. The procedures for issuing environmental approvals for industrial facilities have also been facilitated, to be issued within 7 days instead of the 30 days stipulated in the Environment Law.
Fouad referred to the industrial pollution control project as one of the ministry’s projects to support the industrial sector and its environmental compatibility. The project provides financial and technical support for industrial projects, whether to support environmental compatibility or to apply energy efficiency systems and maximize the efficiency of resource use in projects, through soft loans with interest rates estimated at 2.5%, in addition to a 20% grant at the end of the project and achieving compatibility.
The head of the Federation of Industries emphasized the importance of supporting the private sector and overcoming all difficulties that may limit the expansion or establishment of industrial projects, especially with regard to providing environmental approvals and financing packages for industries and industrial zones.
He pointed out that the environmental return benefits all parties, especially aspects of health and environmental development. He also praised the state’s role in encouraging the industrial sector, especially with regard to environmental projects such as recycling agricultural waste.
The Minister of Environment said that projects related to climate change, energy use and waste recycling are models for projects that achieve added values not only at the environmental level but also economic and developmental, noting that a project worth Euro 220 m was signed during the COP27 to support products that comply with standards and meet the environmental requirements for the Egyptian product, in order to achieve the availability of international requirements for exporting products, and work will be done on them during the coming period.
Fouad also announced the establishment of an environmental and climate investment unit to facilitate the establishment of projects that address the effects of climate change in new fields, as well as support the carbon certificates market and benefit from the export and sale of certificates, which needs marketing and promotion through the unit. The Climate Investment Unit will provide environmental investment opportunities and prepare an investment map such as investing in reserves at the level of the republic.
