{"id":633234,"date":"2024-07-10T00:00:00","date_gmt":"2024-07-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/new-cabinet-approves-energy-agreements-education-amendments-taxation-changes-in-first-meeting\/"},"modified":"2024-07-10T00:00:00","modified_gmt":"2024-07-10T00:00:00","slug":"new-cabinet-approves-energy-agreements-education-amendments-taxation-changes-in-first-meeting","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/10\/new-cabinet-approves-energy-agreements-education-amendments-taxation-changes-in-first-meeting\/","title":{"rendered":"New cabinet approves energy agreements, education amendments, taxation changes in first meeting"},"content":{"rendered":"

Our new cabinet held its first meeting yesterday<\/strong>, where it approved a number of decisions, according to a cabinet statement<\/a>.<\/p>\n

#1-<\/strong> Five new energy projects got preliminary approval:<\/strong> The cabinet gave preliminary approval to five new petroleum projects to be carried out by the Egyptian Natural Gas Holding Company (EGAS), the Egyptian General Petroleum Corporation (EGPC), and a number of international and local companies with investments totaling USD 200 mn. <\/p>\n

The details: <\/strong>The agreements include two that will give EGAS and Eni\u2019s IEOC Production <\/p>\n

HBS the right to search for and exploit gas and oil reserves in the Mediterranean\u2019s North Port Fouad offshore area and the South Nour offshore area. The rest of the agreements will see companies explore and exploit gas and oil in the Nile Delta and Western Desert. <\/p>\n

#2- Amendments to the <\/strong>US-Egypt Higher Education Initiative<\/a><\/strong> got the greenlight from the cabinet. The USD 250 mn initiative provides high-achieving Egyptians with access to higher education locally and in the US. The cabinet statement did not detail what exactly the amendments entailed. <\/p>\n

#3- No more double taxation between Egypt and Oman: <\/strong>The cabinet approved an agreement to eliminate dual taxation between Egypt and Oman and crack down on tax evasion. The agreement was first inked<\/a> during an Egyptian-Omani business forum in May 2023 and ratified by the Omani Sultan<\/a> the following month. <\/p>\n

ALSO FROM THE CABINET- New ministerial groups to boost human and industrial<\/strong> development:<\/strong> Prime Minister Moustafa Madbouly gave directives to form two specialized ministerial groups aimed at enhancing human and industrial development, according to a cabinet statement<\/a>. The Human Development Ministerial Group \u2014 headed by the deputy president for human development and health minister, Khaled Abdel Ghaffar \u2014 will focus on national strategies in health, education, culture, sports, and religious discourse, as well as aligning vocational education with market needs. The Industrial Development Ministerial Group \u2014 led by the deputy president for industrial development and trade minister, Kamel El Wazir \u2014 will work on national industrial strategies, promoting direct private investment, increasing local content in industries, and managing industrial land development.<\/p>\n","protected":false},"excerpt":{"rendered":"

The cabinet gave preliminary approval to five new petroleum projects<\/p>\n","protected":false},"author":1,"featured_media":633235,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7306],"tags":[282,73,7135,7058,93,197,72,1350,91,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-633234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet-watch","tag-cabinet-watch","tag-education","tag-egas","tag-egypt-oman-relations","tag-energy","tag-eni","tag-enterpriseam","tag-madbouly-cabinet","tag-oil-and-gas","tag-tax","wpautop","entry"],"acf":{"mongo_id":"f732331d-9f7c-4d65-8384-b206261ea878","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/782.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s new cabinet approves energy agreements, education amendments, taxation changes in first meeting","related_issue":[633229],"teaser":"The cabinet gave preliminary approval to five new petroleum projects","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.bbd8de52-e256-459c-a2c5-8c50e84014cd.mp3"},"yoast_head":"\nNew cabinet approves energy agreements, education amendments, taxation changes in first meeting - 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Five companies had bid to import natural gas privately, including Dolphinus Holdings \u2014 rumored to\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":579325,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/02\/more-golden-licenses-oil-exploration-on-the-cabinet-agenda\/","url_meta":{"origin":633234,"position":1},"title":"More golden licenses, oil exploration on the cabinet agenda","author":"enterpriseam admin","date":"2 February 2023","format":false,"excerpt":"Cabinet rolls out approvals for four more golden licenses + 13 oil agreements: Prime Minister Moustafa Madbouly and his ministers took steps towards granting more golden licenses and oil agreements at this week\u2019s cabinet meeting, according to a statement.More golden licenses to come: The cabinet granted four unnamed companies \u2014\u2026","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/34.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596490,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/29\/cabinet-approves-17-oil-and-gas-ep-agreements-between-egypt-and-iocs\/","url_meta":{"origin":633234,"position":2},"title":"Cabinet approves 17 oil and gas E&P agreements between Egypt and IOCs","author":"enterpriseam admin","date":"29 August 2019","format":false,"excerpt":"CABINET WATCH- The Madbouly Cabinet approved yesterday 17 oil and gas exploration and production agreements EGPC, Ganope, and Egas signed with unnamed international companies, according to an official statement. The E&P agreements cover concessions in west Fayoum, north Beni Suef, the Gulf of Suez, and the Western Desert, among others.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596482,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/29\/el-sisi-meets-abe-in-japan-cabinet-passes-new-energy-exploration-agreements\/","url_meta":{"origin":633234,"position":3},"title":"El Sisi meets Abe in Japan, Cabinet passes new energy exploration agreements","author":"enterpriseam admin","date":"29 August 2019","format":false,"excerpt":"Talk shows look like they\u2019re about ready for the weekend: President Abdel Fattah El Sisi\u2019s meeting with Japanese Prime Minister Shinzo Abe at the Tokyo International Conference on African Development (Ticad) was more or less the talk of the town last night (watch, runtime: 04:24) and (watch, runtime: 01:49). We\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591000,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/more-oil-and-gas-exploration-in-the-med-and-gulf-of-suez\/","url_meta":{"origin":633234,"position":4},"title":"More oil and gas exploration in the Med and Gulf of Suez","author":"enterpriseam admin","date":"30 July 2023","format":false,"excerpt":"ExxonMobil, Kufpec and Pico Energy will partner with state energy firms to explore for hydrocarbons","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1167.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":660110,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/06\/cabinet-signs-off-on-new-oil-and-gas-agreements-and-more\/","url_meta":{"origin":633234,"position":5},"title":"Cabinet signs off on new oil and gas agreements and more","author":"enterpriseam admin","date":"6 February 2025","format":false,"excerpt":"The cabinet approved five concession agreements, that will see no less than USD 225.3 mn invested to drill at least 40 wells","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/544.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/633234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=633234"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/633234\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/633229"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/633235"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=633234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=633234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=633234"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=633234"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=633234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}