CAIRO — A large number of investors and firms are awaiting the issuance of the executive regulations of the Mineral Resources Law that Egyptian President Abdel Fattah al-Sisi ratified the amendments of in August, with the aim of generating large investments in Egypt’s gold mining. According to the government’s forecast, this sector’s share in the gross domestic product is expected to amount to $7 billion in 2030, with 110,000 new jobs and $700 million worth of investments.
During an Oct. 4 meeting of the consultative committee tasked with amending the law’s executive regulations, Minister of Petroleum and Mineral Resources Tariq al-Mulla said, “Efforts are made to amend the law’s executive regulations in a way to avoid any negative aspects for investors in mining activity, and help promote governance and transparency via a balanced legal framework that regulates the work mechanisms in mines and quarries, incentivize and encourage investors, and preserve the state’s rights and returns from tapping the mineral wealth at the same time.”
