Abou El-Enein:
- I congratulate President El-Sisi and the Egyptian people on the anniversary of the 30 June Revolution, which laid the foundations for building modern Egypt under the leadership of President Abdel Fattah El-Sisi
- Zeroing the debts of petroleum companies is a key marketing message that should be fully capitalized on
- The Strait of Hormuz crisis presents an opportunity to transform Egypt into a global hub for energy trade
- Paying USD 6.1 billion to petroleum companies is a strong message of investor confidence, and Egypt is well positioned to become a global energy center
MP Mohamed Abou El-Enein, Member of the House of Representatives, extended his congratulations to President Abdel Fattah El-Sisi and the Egyptian people on the anniversary of the 30 June Revolution, emphasizing that it represented a pivotal turning point in Egypt’s modern history and laid the foundations for a new phase of nation-building based on political stability, security, and economic development.
He stressed that the comprehensive stability achieved after the 30 June Revolution under President El-Sisi has been the cornerstone in strengthening international confidence in the Egyptian economy, making Egypt an attractive destination for global investment, particularly in strategic sectors, foremost among them the energy sector.
Abou El-Enein praised the State’s success in paying approximately USD 6.1 billion in arrears to petroleum companies and clearing outstanding debts, describing this achievement as a strong confidence-building message to international investors and a reflection of the State’s ability to honor its commitments and strengthen the investment climate.
He affirmed that Egypt possesses unique strategic assets that qualify it to become a global hub for energy trade, transport, and storage between the Gulf countries and Europe, noting that its geographical location and advanced infrastructure form the foundation of this future positioning.
He also called for expanding the exploration and utilization of gas resources, particularly shale gas, stressing the importance of attracting global companies with advanced technologies to transfer expertise and localize advanced industries in Egypt.
Furthermore, he highlighted the importance of expanding value-added industries linked to the oil and gas sector as a key driver of economic growth and export expansion.
He urged greater integration between the Ministries of Finance, Investment, and Industry to develop a unified economic vision that enhances investment attraction and improves the business environment, alongside adopting policies that encourage companies to reinvest their profits within Egypt instead of transferring them abroad, thereby supporting sustainable growth rates.
Abou El-Enein concluded by affirming that Egypt, under the leadership of President Abdel Fattah El-Sisi, is steadily advancing toward strengthening its regional and international position as a pivotal energy hub, building on the stability and achievements realized since the 30 June Revolution.
