Egypt's government signed on Wednesday two out-of-court investment dispute settlements with major private-sector firms, in a move aimed at strengthening investor confidence and support strategic sectors. Prime Minister Moustafa Madbouly oversaw the signing ceremony in New Alamein, alongside key Cabinet ministers including those of finance, justice, and industry. The settlements, officials said, aim to resolve long-standing contractual disputes without resorting to international arbitration. The first settlement resolves longstanding contractual issues involving Sonker Bunkering Company, the Suez Canal Economic Zone (SCZONE), the Egyptian General Petroleum Corporation (EGPC), Petrojet, and DP World Sokhna. The agreement is expected to support Sonker's fuel logistics operations and enhance Egypt's role as a regional hub for storing LPG, diesel, and natural gas. The second deal settles disputes with Misr Technology Services (MTS), a key player in digitising customs and trade services. The agreement will help MTS expand digital platforms at the Egyptian Customs Authority and the National Food Safety Authority, aligning Egypt with international trade standards and improving investor services. "These settlements reflect the government's commitment to resolving investor concerns amicably and avoiding international arbitration," the Cabinet statement read. 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 talks with the involved parties and prepared the final agreements. Egypt has prioritised clearing investment hurdles through dialogue as it seeks to attract foreign capital amid growing economic challenges and currency pressures. Attribution: Amwal Al Ghad English
