El Molla: Egypt Turns Challenges into Opportunities
Wednesday, 15th February 2017
Speaking at EGYPS 2017's opening speech. the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, said that the Ministry is aiming to create an attractive investment environment and turn challenges into opportunities.
EGYPT’S TECHNOLOGY PROBLEMS: THE OIL SECTOR AS AN R&D SOLUTION
Saturday, 27th June 2015
Talk to anyone in the oil sector in Egypt, even lab assistants, and they will tell you right away that the government does not provide them with any kind of support, even with simple things like rock core samples, the most basic item needed for research. The same goes for the Scientific Research Academy and the ministries of planning and manpower. No budgets are created for R&D expenses in the public sector generally, because any expenditure that does not bring a guaranteed result is considered a “squandering of public funds,” punishable by law. The oil sector has a little more leeway here, as it enjoys larger revenues. In most developed countries, companies actually get tax deductions for the research they do, while the private sector in Egypt is saddled with sales and value-added taxes.