New alamein: Prime Minister Mustapha Madbouly oversaw the signing ceremony in New Alamein, alongside key Cabinet ministers including those of finance, justice, and industry.

According to State Information Service Egypt, the settlements aim to resolve long-standing contractual disputes without resorting to international arbitration. The first settlement addresses issues involving Sonker Bunkering Company, the Suez Canal Economic Zone (SCZONE), the Egyptian General Petroleum Corporation (EGPC), Petrojet, and DP World Sokhna. This agreement is expected to boost Sonker's fuel logistics operations and strengthen Egypt's position as a regional hub for storing LPG, diesel, and natural gas.

The second settlement resolves disputes with Misr Technology Services (MTS), which plays a crucial role in digitising customs and trade services. This agreement will enable MTS to expand its digital platforms at the Egyptian Customs Authority and the National Food Safety Authority, aligning Egypt with international trade standards and enhancing services for investors.

The Cabinet statement emphasized that these settlements demonstrate the government's commitment to resolving investor concerns amicably and avoiding international arbitration. The settlements were negotiated by the Ministerial Committee for the Settlement of Investment Disputes and Contracts, chaired by the Prime Minister. The committee's secretariat, led by Mostafa El-Bahabety, facilitated discussions with the involved parties and prepared the final agreements.

Egypt is prioritizing the removal of investment barriers through dialogue as it seeks to attract foreign capital amid increasing economic challenges and currency pressures.