With the aim of attracting new investment and exploring innovative financing mechanisms in Egypt’s oil and gas sector, Petroleum Minister Karim Badawi and Investment Minister Mohamed Farid signed a cooperation protocol on 14 October, the Cabinet said.
Badawi described the agreement as a key step toward strengthening the financial, technical, and competitive capacities of petroleum and mining companies through new financing tools, broader partnerships, and improved asset management.
Badawi said aligning investment policies with sector development plans would help companies expand projects at home and abroad, boost domestic output, curb imports, and reinforce the sector’s role in the national economy. On mining, he noted that legislative reforms and new incentives are making the industry more attractive to investors, supporting wider exploration and resource development. He underscored the need to process minerals locally and maximise value‑added production to raise returns from Egypt’s mineral wealth and enhance the sector’s competitiveness.
For his part, Farid explained that improving the investment environment for these sectors goes beyond attracting capital. It also involves creating opportunities to participate in economically viable projects, improving resource allocation and asset utilization, and fostering partnerships that facilitate knowledge transfer and strengthen national companies’ productive capabilities.
Farid stressed that cooperation between the two ministries reflects the integration of government roles and capabilities. The Ministry of Investment and its affiliated entities will contribute their investment, financing, and promotional expertise to make investment opportunities more attractive and broaden the pool of investors interested in the oil, gas, and mining sectors.
As he witnessed the signing ceremony, Prime Minister Mostafa Madbouly stressed the importance of cooperation between different ministries, aligning with the state’s efforts to maximize returns on state-owned assets and restructure the economic frameworks of petroleum sector companies.
The initiative will leverage the investment, financing, and technical expertise of the Ministry of Investment and its affiliated entities, particularly the Sovereign Fund of Egypt (TSFE), Madbouly added.
TSFE is a privately managed investment fund that was established in 2018 to shape, manage, and perfect opportunities for investment in Egypt’s state-owned assets, creating partnerships and co-investments with private investors.
The Central Bank of Egypt (CBE) has recently reported that the Egyptian oil and mineral resources sector attracted $6.7 billion in Foreign Direct Investment (FDI) during fiscal year (FY) 2025/26, up from $6.2 billion a year earlier.
The post Petroleum, Investment Ministries Sign Protocol to Boost Investment first appeared on Egypt Oil & Gas.
