_1777352142843_145525226.png&w=64&q=75){kind=small}
_1777352244987_250242181.png&w=64&q=75){kind=small}
Egypt receives 403 offers from 119 firms
The article reviews Egypt's efforts to develop its mining sector to achieve economic growth and efficiently utilize its natural resources. Minister Karim Bedou emphasized that Egypt aims to increase the sector's contribution to gross domestic product to approximately 6%, while also boosting investments and the number of operating companies, with a focus on manufacturing and adding value. Over the three months since the launch of the mining sector bidding system, 119 companies—including foreign firms from countries such as Australia, Canada, and China—submitted 403 bids across 118 sectors, covering areas up to 45,000 square kilometers, primarily for gold, phosphate, and other minerals. He also highlighted Egypt’s preparations to benefit from its resources within the Nubian Shield, providing diverse investment opportunities, improving the legislative environment through supportive laws and incentives for investors, and developing the geological database. Additionally, Egypt seeks to maximize phosphate reserves through new industrial projects, increase production, and train specialized technical personnel via training programs. The goal is to establish an integrated mining sector that delivers tangible economic results and advances efforts to attract investments.
Notice: This Is an AI-Generated Summary
Comments (0)