Egypt Eyes US$9.3bln Projects in Petroleum Sector – Minister

Egypt’s Petroleum Ministry eyes signing 12 projects in fields of oil refinery, petrochemicals, mineral resources, and infrastructure to establish pipelines with total investment worth US$ 9.3 billion during Egypt Economic Summit, said Sherif Ismail – the minister- on Saturday.

Egyptian President Abdel Fattah el-Sisi has launched Egypt Economic Development Conference (EEDC) ” Egypt the Future” on Friday March 13 with 2,000 delegates from 112 countries in the Red Sea resort town of Sharm El-Sheikh.

The conference is a key milestone of the government’s medium term economic development plan, which is designed to bring prosperity and improved social services to the people of Egypt.

Attracting leading global figures from business and politics, the EEDC highlights the extensive reforms the government has already implemented and showcases future reforms designed to restore fiscal stability, drives growth and attracts investment with the overarching aim of improving the welfare to Egyptians.

Moreover, the conference also presents investment opportunities to domestic and international investors across key sectors.