The oil minister is discussing with the Australian ambassador the investment cooperation in mining

The discussion of Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, with Axel Wabenhurst, Ambassador of Australia in Cairo, opportunities to strengthen investment cooperation between the two countries in the field of mining and energy, and how to support the partnership between Egypt and Australia in the light of the Egyptian vision for the development of the mining sector.

The minister confirmed during the meeting that the ministry is working on preparing a new package of incentives and investment facilities for the mining sector, including updating the incentive system to keep up with global developments and contribute to the attraction of foreign companies, especially Australian ones, explaining that these incentives will encourage emerging companies to enter the sector through mechanisms that ensure transparency and speed of procedures.

واستعرد بدوي the results of his visit to the Australian city of Berth last September, and the ministry of a delegation from major Australian mining companies to Egypt last week, pointing out that the visits are an important step to open new horizons for joint cooperation, and to learn about the leading Australian news in the fields of exploration, production and attracting investments.

For his part, the Australian ambassador confirmed that the country encourages companies to invest abroad and works to support them in strengthening economic ties with Egypt, praising the efforts of the Egyptian government to develop the mining sector and create an investment climate, and affirming the desire to expand cooperation between the Australian and Egyptian business communities to achieve a strategic partnership based on common interests.

We also discussed cooperation in the area of ​​human capacity building through specialized training programs in cooperation with Australian universities and institutions to transfer technical knowledge to the Egyptian workforce.

The meeting also touched upon the discussion of opportunities for cooperation in the energy sector, especially in the fields of liquid natural gas, infrastructure, and carbon capture and storage, as well as reviewing the activities of the Australian company “Woodside Energy” operating in the areas of gas discussion in Egypt.