Egypt’s Parliament to Get Draft Natural Resources Law: Al Ahram

A draft natural resources law will soon go to parliament for consideration, Egyptian Oil Minister Abdalla Ghorab was quoted as saying by state run Al-Ahram today.

Ghorab said the draft law, which would replace legislation passed in 1956, seeks to encourage investment in the country’s natural resources and maximize the industrial value of the raw materials produced by Egypt instead of exporting them, the Cairo-based newspaper reported.

Al-Ahram did not say when the bill would be submitted to lawmakers.

To contact the reporter on this story: Tarek El-Tablawy in Cairo at teltablawy@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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