Investment Minister urges petrochemical companies to bolster partnerships with Egypt
'Egypt is working on developing several major petrochemical projects that will contribute to securing the needs of the local market and exporting the surplus,' Minister of Investment and Foreign Trade Hassan Al-Khatib said.
Khatib was speaking during a roundtable event focused on the mining and petrochemical industries, held in Shanghai with the participation of representatives of major companies and investors to discuss partnership opportunities and increase investment flows between Egypt and China.
Highlighting the strategic importance of the petrochemical sector for Egyptian industry, given its pivotal role in supporting a series of supplementary industries, Khatib said, noting that Egypt is working on an ambitious program to expand this sector and increase local production, which would contribute to cutting the import bill and increasing exports.
As for the mining sector, the minister shed light on the government's reforms to create an investment-friendly environment.
According to Egypt's Vision 2030, this sector is one of the main pillars of economic diversification and long-term growth, the minister said, noting that the government seeks to create more jobs, promote technology transfer, and optimize the use of mineral resources.
Khatib said that the Egyptian government is moving forward with structural reforms in the petrochemical and mining industries, in support of the state's efforts towards a more resilient, diversified and sustainable economy.
He called on international companies to build stronger partnerships with Egypt and contribute to the implementation of major projects under-construction in Egypt, to achieve mutual interests and promote sustainable growth.
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