“Representatives Industry” approves the Deputy Coordination Law regarding issuing the Egyptian Mineral Resources Regulation Law
The Industry Committee of the House of Representatives, during its meeting today, approved in principle and the issuance materials of the draft law submitted by Representative Mohamed Ismail, a member of the House of Representatives for the Coordination of Youth of Parties and Politicians, regarding issuing a law regulating the Egyptian General Authority for Mineral Resources, which aims to transform it To an economic body.
Minister of Parliamentary Councils: I was keen to attend, considering the project one of the outcomes of the national dialogue
The meeting witnessed praise A great deal from the Minister of Parliamentary Councils, Counselor Mahmoud Fawzi, who thanked Representative Mohamed Ismail, saying: I was keen to attend because of the importance of the draft law as one of the outcomes of the national dialogue, adding in his speech before the Industry Committee headed by Representative Mohamed Al-Sallab and in the presence of representatives of the Ministries of Petroleum, Justice, Industry, Higher Education, Irrigation, Local Development and Finance. The Ministerial Economic Group has a great understanding about the project and revived the Industry Committee, which gave priority to the legislative authority, which is the right of the House of Representatives, and the government will work to hear The representatives’ vision and study of the draft law, even if the government has reservations about a part within the executive apparatus, we will work to agree on it.
The representatives and government representatives also praised the draft law, stressing that it will contribute to the exploitation of mineral resources. Untapped and maximizing the authority’s resources, thus advancing the national economy and supporting and localizing Egyptian industry.
Representative Mohamed Ismail, the sponsor of the draft law, reviewed the objectives and philosophy. The project, and he said that the draft law aims to transform the Egyptian General Authority for Mineral Resources into an economic body, as Egypt possesses mineral resources that are not optimally exploited, and it is possible that these resources will support the Egyptian state to become among the largest mining countries in the world, because Egypt possesses the Nubian Shield. In the Egyptian Eastern Desert.
Ismail continued: “There are many problems in the Egyptian mining sector, the most important of which is that the Authority The Egyptian General Authority for Mineral Resources is a public service authority that is financially affiliated with the Ministries of Planning and Finance, and technically the Ministry of Petroleum and Mineral Resources. This administrative, organizational and institutional distortion has led to a weak contribution of the Authority and the mining sector to the gross domestic product, which is currently estimated at only about 1%, which does not achieve the appropriate return. of Egypt’s geological potential.”
He pointed out that the draft law helps solve the problem of overlapping jurisdictions and the weakness of Human cadres, as the Authority does not have geological and mining personnel, more than only 250 specialists, most of whom were appointed only about 10 years ago, and lack the competence required to work with foreign investors, and the lack of alternative cadres for expertise that has reached retirement age due to the cessation of appointments and the weakness of the training budget.”
Rep. Muhammad Ismail said that the draft law contributes to completing the legislative structure that prepares The climate for developing the mining sector after the issuance of legislative amendments to Mining Law No. 145 of 2019 and the amendment to its executive regulations.
He added that these efforts require a qualified body capable of monitoring operations and following up on steps. Modernizing the sector, which is done by reforming the administrative structure of the Egyptian mining sector and transforming the Egyptian General Authority for Mineral Resources into an economic body so that it has the resources and administrative flexibility to lead mining operations. Expected.
He continued that reforming the administrative structure of the sector aims to organize the technical, financial, administrative and marketing competencies among the entities operating in the sector, to activate the role of the policy maker and organizer of the mining process by granting licenses and technical monitoring, as well as Activating scientific research and technology transfer processes and creating a unified mechanism to organize entities working in the sector, which helps increase the mining sector’s contribution to the gross domestic product and participate in implementing the general policy of the Egyptian state that aims to nationalize Industry.
Ismail stated that he submitted the draft law due to the deterioration in a vital sector, and its approval will contribute to the localization of Egyptian industry, and the importance of building Egyptian cadres and technological development in the field of mining, following: “We dream that Egypt will be transformed into a regional center in mining,” he continued: “We must benefit from these riches, and transforming the authority will increase government revenues, create job opportunities, and increase exports.” And the localization of the industry, and it is very important for the ministry to create an electronic platform for foreign investors.”
He continued: “The Authority in its current form is not correct to provide only half a percent of the domestic product. There is a decline in revenues, and the draft law solves the problem, and we will only accept that Egypt is a regional center for mining, and the law solves the legislative crisis.”
