Prime Minister Mostafa Madbouly held a meeting on Sunday to review key joint initiatives between the Ministry of Finance and the Ministry of Petroleum and Mineral Resources.
According to Cabinet spokesperson Mohamed El-Homsany, the meeting focused on several crucial issues, including ongoing efforts to meet local demand for petroleum products through exploration and production activities. The discussions also centered on maximizing the benefits of petroleum resources to generate added value for the national economy, with an emphasis on policies to advance the mining sector and enhance its economic contribution.
The meeting also addressed the renewable energy sector, which plays a pivotal role in the state’s sustainable and comprehensive development plan. The talks included coordination between relevant entities to ensure an optimal energy mix that fosters Egypt’s economic growth, leveraging the country’s strategic position for hydrogen production and energy trade.
The meeting was attended by Minister of Finance Ahmed Kouchouk, Minister of Petroleum and Mineral Resources Karim Badawy, Deputy Minister of Finance for Financial Policies Yasser Sobhy, Assistant Minister of Finance Sherine El-Sharkawy, Deputy CEO of the Egyptian General Petroleum Corporation for Financial and Economic Affairs Amal Tantawy, Head of Infrastructure Budgets at the Ministry of Finance Ahmed Samir, and Head of Finance at the Ministry of Finance Magdy Mahfouz.
Additionally, El-Homsany noted that the meeting’s agenda covered strategies to strengthen regional cooperation aimed at attracting investments to Egypt and the broader region. Efforts to create an investor-friendly environment while maintaining energy efficiency and reducing emissions were also discussed.
Finally, the meeting reviewed the production rates of natural gas and crude oil, along with exploration and production plans in the Mediterranean Sea, underscoring the importance of these resources in driving Egypt’s energy and economic security.
