Prime Minister Mostafa Madbouly announced that the government has begun taking practical steps to establish a locally based, internationally certified gold refinery.
He added that the government is drafting legislation to regulate trading and investment in gold funds, aiming to position Egypt as a hub for the gold industry.
Speaking during Wednesday’s weekly Cabinet meeting, Madbouly explained that the state is developing a comprehensive framework for the gold sector, combining legislative and procedural measures.
Last month, the Prime Minister chaired a meeting to review efforts to boost investment in gold. He highlighted the government’s focus on the mining sector to maximize Egypt’s resources and wealth, stressing the commitment to supporting gold-related investments by offering greater incentives and facilitations to attract investors to this promising sector and increase its contribution to the national economy.
Madbouly underscored the need to align with global developments in gold investment tools and adopt standard specifications to integrate into gold-producing and exporting economic blocs.
He also emphasized the role of gold investment funds in creating a secure investment environment in the gold market, providing diverse options for different segments of society, and meeting their investment aspirations in this precious metal.
