Egypt keen on stimulating metallurgical industries: Finance min.

CAIRO - 15 September 2022: Egypt is keen on stimulating the metallurgical industries within the framework of presidential directives in this respect, affirmed Finance Minister Mohamed Maait on Thursday.

 

Efforts are underway to turning Egypt into a major global hub in minting metal and coins, he added.

 

The minister also pointed out to the partnership with the United Kingdom to build a coinage facility in the Suez Canal Economic Zone (SCZone) at investments worth LE 2 billion.

 

All the manufacturing stages will be implemented in Egypt through depending on local components instead of exporting them, he added.

 

This will contribute to enhancing partnership between Egypt's Treasury and Mint Authority and the British Royal Mint, a matter which will secure hundreds of job opportunities, he further said.

 

In a statement issued by the Finance Ministry on Thursday, the minister added that the Cabinet, initially approved issuance a new 2-pound coins in conjunction with the signing of a partnership agreement between Egypt's Treasury and Mint Authority and the British Royal Mint.