Energy sector plays an important role in achieving sustainable development in Egypt

CAIRO - 22 November 2020: Energy sector plays an important role in achieving sustainable development in all countries of the world, and in Egypt, Minister of Planning and Economic Development, Hala El-Saeed said Saturday.

El-Saeed pointed out that this sector in Egypt faces many basic challenges that require reducing dependence on fossil fuels in energy production, and the trend towards the use of renewable energy as an alternative, which contributes to achieving the UN Sustainable Development Goals (SDGs), as well as the goals of Egypt's Vision 2030.

This came in her speech delivered on her behalf by Deputy Minister of Planning, Ahmed Kamali,  at the opening of the International Conference on "Energy and Sustainable Development" organized by the Institute-of-National-Planning (INP) under the patronage of the Prime Minister, and in the presence of Minister of Electricity and Renewable Energy Mohamed Shaker.

The conference will last for two days with the participation of a large number of researchers, academics, and experts in the field of energy and sustainable development at the local, regional, and international levels.

She added that the International Conference of the National Planning Institute this year comes under exceptional economic and health conditions that Egypt and the whole world are going through

According to her speech, these conditions include a high degree of uncertainty, but one of the clear positive things is that the impact of this crisis on the Egyptian economy was less severe than its counterparts in other countries.

This is a light impact came as a result of the improvement of many macroeconomic indicators before the pandemic, as a result of implementing the economic and social reform program that the country started in 2016.

"As a result, the Egyptian economy is expected to achieve a positive growth rate at the end of the current fiscal year, unlike many countries in the world that are expected to Negative growth rates are achieved," she said.

El-Said referred to the importance of developing and implementing many financial, monetary and technological economic policies, in addition to international cooperation, whether in the field of investment in research and exploration for traditional energy sources, or investment in new and renewable energy technologies.

The Minister of Planning and Economic Development explained that the corona pandemic resulted in a decrease in global demand for oil, which negatively affected investment in traditional energy sources, and then these changes are expected to be reflected in the global energy market. 

El-Saeed pointed out that despite the circumstances the world is currently going through, the energy sector is on its way towards modifying the energy mix and enhancing the share of renewable energy in this mix to achieve energy sustainability, security, and sustainable development in Egypt.

The Energy and Sustainable Development Conference aims to discuss issues related to energy developments and their role in achieving sustainable development, to identify the opportunities and potentials available from various energy sources, and the challenges that hinder the expansion of the use of new and renewable energy.