The Minister of Investment discusses with the Minister of Environment investment opportunities in various environmental sectors and ways to promote them
Engineer Hassan Al-Khatib, Minister of Investment and Foreign Trade, stressed the ministry’s keenness to activate the investment incentives stipulated in the investment law, and expand the scope of support for environmental and climate projects… pointing to the importance of strengthening joint efforts to increase economic growth rates while achieving environmental sustainability.
This came during the Minister of Investment’s meeting with Dr. Yasmine Fouad, Minister of Environment, where investment opportunities in various environmental sectors were discussed and presented, including the waste sector, eco-tourism, and climate investment plans, which are sectors Promising and attractive for investment, and ways to promote it were discussed.Al-Khatib said: The meeting reviewed the possibilities of establishing an electronic platform for environmental and climate investment in Egypt… noting that the investment opportunities available in the fields of solid waste management, sustainable energy and bio-economy were reviewed.
The Minister of Investment indicated the Ministry’s keenness to activate the investment incentives stipulated in the Investment Law and expand the scope of support for environmental and climate projects… stressing the importance of strengthening joint efforts to increase economic growth rates while achieving sustainability. Environmental.
He explained that the Ministry aims to work to create a more competitive and attractive investment climate for local and foreign investments, based on transparency and clarity, providing a supportive institutional and legislative environment, improving the business environment, simplifying procedures, and removing obstacles facing investors, while strengthening the role of the private sector. As a major partner in development.
For her part, the Minister of Environment expressed her gratitude for the cooperation with the Ministry of Investment to promote promising investment opportunities in various environmental fields, noting the directives The political leadership stressed the need to link the environment file to economic development, as well as the Ministry of Environment, during the last period, working to develop a climate that supports the file of natural reserves and eco-tourism with the aim of maximizing the economic returns of the Egyptian state.
Dr. Yasmine Fouad reviewed a number of measures that were taken in A way to create a climate supportive of investment, including facilitating the procedures for obtaining environmental approvals, as environmental approvals are currently issued within 7 working days at most instead of the stipulated 30 days, and the activation of the electronic link is also being completed. Between the Environmental Affairs Agency and the General Authority for Industrial Development, a guideline was also prepared for the environmental requirements for various projects, which are located within the sectors specified for obtaining the golden licence.
Within the framework of financing biodiversity and nature protection in natural reserves… the Minister of Environment said Work is being done through the Ministry of Environment to establish a soft financing mechanism to support environmental investment and eco-tourism projects within natural reserves, as the financing mechanism aims to enhance the growth of eco-tourism… noting the establishment of the Environmental and Climate Investment Unit. At the Ministry of Environment, to work on solving investors’ problems, facilitating procedures for issuing approvals and permits, developing investment opportunities in the areas of environment and climate, preparing preliminary studies for them, and working to make them available to those wishing to invest.
The Minister of Environment touched upon climate investment plans during the meeting. Noting that, in cooperation with the Green Climate Fund, and within the framework of the National Climate Change Strategy 2050, climate investment plans have been prepared for some priority sectors, such as the agriculture sector, the water resources and irrigation sector, Work is also being done to attract investments in the field of the voluntary carbon market, as it is expected that the carbon market will contribute to attracting new local and international investments, as companies will be able to issue and sell carbon emission reduction certificates.
The meeting touched on the investment opportunities available in the field. Integrated waste management, whether municipal solid waste, agricultural waste, construction and demolition waste, to treat these wastes with added value and maximize the role of the circular economy and sustainability, and present the current status of waste-to-energy conversion projects.
And in a related context.. The two ministers witnessed the signing of a cooperation protocol between the General Authority for Export and Import Control and the Waste Management Regulatory Authority regarding cooperation in the field of applying the green label for plastic products. This protocol contributes to supporting and enhancing the transition to a green economy, which reflects on the reputation of Egyptian exports and increases their competitiveness in global markets. The protocol was signed by Engineer Issam Al-Najjar, Chairman of the General Authority for Export and Import Control, and Mr. Yasser Abdullah, CEO of the Waste Management Regulatory Authority.
According to the terms of the protocol, the General Authority for Export and Import Control is responsible for receiving samples from the Waste Management Authority or affiliated companies and factories. and code it after ensuring that the data written on the package matches and reviewing it with the application data included with it, as the Authority’s laboratories, with its various branches, conduct laboratory tests. And sending a copy of the test report electronically and in paper immediately upon completion, in addition to participating in providing services, transferring expertise and technical consultations, and holding seminars and training in the field of examination and analysis.
The Authority also designs and implements plans and programs to verify the efficiency of its laboratories by During the distribution of verification samples, with the aim of verifying their efficiency and accuracy of their results for evaluation by the Waste Device, the Authority also conducts scientific studies to assess the risks of various pollutants while providing technical advisory support to find solutions to those risks in partnership with the Waste Device.
It is committed to The Waste Management Regulatory Authority sends samples to the General Authority for Export and Import Control, to analyze them and evaluate the results of the analysis according to a specific timetable for each analysis separately. The Control Authority’s laboratories are provided with modern analytical methods to apply them, and the necessary studies are conducted to use them in the analysis after their approval.
< p>The protocol stipulates that the Waste Regulatory Authority holds periodic or emergency follow-up meetings with specialists from the contracting authority’s laboratories with the aim of conducting work, discussing technical inquiries, evaluating performance and development goals, in addition to providing services and transferring expertise and technical consultations. And holding seminars and training in the field of examination and analysis for the Export and Import Control Authority according to available capabilities.
The Waste Management Regulatory Authority also participates with the Export and Import Control Authority in projects to supply the latest laboratory equipment to conduct the tests for granting companies the green mark.
