Egypt advances green economy with new investments in eco-tourism, waste management
Minister of Investment and Foreign Trade Hassan El-Khatib hosted Minister of Environment Yasmine Fouad to discuss investment opportunities in key environmental sectors, including waste management, eco-tourism, and climate initiatives. The meeting aimed to identify ways to promote these sectors as part of Egypt’s broader economic and environmental strategy.
Fouad expressed appreciation for the cooperation with the Ministry of Investment, emphasizing the need to link environmental progress with economic growth, in line with the country's leadership directives. She highlighted the Ministry’s efforts to develop natural reserves and promote eco-tourism to maximize economic returns.
Fouad also outlined recent measures to improve the investment climate, such as reducing the timeline for environmental approvals from 30 days to seven working days. She mentioned the integration of electronic systems between the Environmental Affairs Agency and the General Authority for Industrial Development and the creation of an environmental guideline to streamline licensing in priority sectors.
Fouad discussed a new financing mechanism for eco-investments, particularly in natural reserves, and highlighted the establishment of the Environmental and Climate Investment Unit to address investor concerns, streamline approvals, and identify viable opportunities. She also reviewed climate investment plans, developed with the Green Climate Fund under Egypt’s 2050 National Climate Change Strategy, which include detailed investment plans for sectors like agriculture and water resources. Efforts to attract investments in voluntary carbon markets, enabling companies to issue and trade carbon certificates, were also discussed.
El-Khatib shared his vision for a competitive, transparent investment environment, emphasizing the role of the Investment Law’s incentives in supporting environmental and climate projects. He also proposed launching a digital platform for green and climate investments, showcasing opportunities in waste management, sustainable energy, and the bio-economy.
The meeting also addressed waste-to-energy projects and opportunities in integrated waste management, covering municipal, agricultural, and construction waste. Both ministers emphasized the importance of a circular economy approach to maximize value and sustainability.
The meeting concluded with the signing of a cooperation protocol between the General Organization for Export and Import Control (GOEIC) and the Waste Management Regulatory Authority (WMRA) to implement the "Green Label" certification for plastic products. This initiative aims to enhance the global competitiveness of Egyptian exports by aligning with sustainable development goals.
The protocol, signed by the heads of GOEIC and WMRA, establishes a framework for testing, training, and technical consultations. It includes timelines for product analysis, advanced testing methods, and periodic reviews to improve operational efficiency and facilitate Green Label issuance. GOEIC will oversee sample coding, data verification, laboratory tests, and the development of quality assurance programs to address contamination risks. This collaboration reflects Egypt’s commitment to transitioning toward a green economy and enhancing the international reputation of its exports.