Egypt's success would improve investment climat

Oil Minister Tareq el Mulla asserted that Egypt's success in building its legislative and constitutional foundations and the steps taken in introducing economic reforms would improve its investment atmosphere and lure in new investments in all sectors.

In statements on Saturday during his tour of Balaeem oil fields in Abu Rdeis city in South Sinai, Mulla said Egypt is safe and has distinguished opportunities for investments, especially in the oil and gas sectors.

He said Abu Rdeis is a key historical location for the Egyptian oil industry, noting that such oil fields have been restored by Egypt in 1975 and their return to Egypt's sovereignty has become a national day for the oil sector and a representation of the Armed Forces victory in the 6th of October war.

The minister made it clear that his tour comes as part of his follow-up of production fields and plans to make new oil explorations along with the development of existing fields and their infrastructure.