Thursday 21 Nov
During a recent meeting chaired by MP Mohamed El-Sallab, the Industry Committee of the Egyptian House of Representatives gave its preliminary approval to a draft law aimed at transforming the Egyptian Mineral Resources Authority into an economic entity. This proposal, introduced by MP Mohamed Ismail, is intended to revitalize Egypt's mining sector and contribute to the country's economic growth. The committee also approved the issuance clauses and the first three articles of the draft law.
The committee emphasized the importance of this draft law in maximizing the exploitation of Egypt's untapped mineral resources and boosting the authority's revenue. The ultimate goal is to strengthen Egypt's economy and support domestic industries.
The Minister of Parliamentary
Affairs expressed gratitude to MP Mohamed Ismail and highlighted the
significance of this draft law as an outcome of the national dialogue. The
minister assured the committee that the government is committed to studying the
proposal and working towards a consensus.
MP Mohamed Ismail presented a
detailed overview of the draft law's objectives and philosophy. He argued that
transforming the authority into an economic entity would enable it to better
leverage Egypt's mineral wealth and position the country as a leading mining
nation.
Furthermore, the law aims to
address the shortage of skilled personnel in the mining sector by investing in
training and development programs. This will ensure that the authority has the
necessary expertise to attract foreign investment and oversee the modernization
of the sector.
By completing the legislative framework for the mining sector, the draft law is expected to create a more attractive environment for investment and facilitate the development of Egypt's mineral resources.
