On the 25th of May 2015, Business News Foundation launched its second annual energy conference entitled “Energy & Future of Investment in Egypt” under the auspices of Petroleum and Mineral Resources Minister, Dr. Sherif Ismail and Dr. Mohamed Shaker, Minister of Electricity and Renewable Energy.
Through a variety of sessions, panels and dialogues the conference discussed the steps Egypt has taken towards the energy mix in order to meet the country’s stability and development needs during the next phase in addition to the future of investment in Egypt with regards to the energy file including its various types and resources.
The political leadership realizes the importance of the energy file which, actually, represents a transformation in the country’s strategic vision. Thus, it requires directing the attention of all state institutions to invest in energy to attract new manufacturing and development prospects.
The annual conference also discussed the government’s strategy after the steps the government took regarding the new energy tariff. It has also taken steps to pay the dues of the foreign partners, to present projects to the private sector and to set rules for the cement industries that import coal and then launch it in the market.
In addition to that, the conference devotes a session to the future of investment in renewable energy and the prospects of encouraging consumers to produce energy. It also demonstrated the investment and manufacturing opportunities related to the new energy file as well as the relationship between the State and the private sector.
The conference discussed the electricity system, operating efficiency, consumption, and the mechanics of cost-cutting in this sector as well as the role of smart electricity meters in the efficiency of electricity distribution. The conference dealt with the challenges of producing and importing energy, the investment opportunities in it and how to take advantage of the power link as well as the rules required to regulate importing energy.
The conference this year focused on the role of energy in supporting investment plans in both economic and services sectors and how to encourage new energy-related industries. It also devoted a session to the future of oil investments, the relationship with foreign partners in addition to the role that the new petroleum agreements play in increasing foreign investment and saving energy for the markets within the next phase.