Minister of Petroleum Reviews Achieving Transparency and the Fight against Corruption Strategy at the World Economic Forum Summit in New York

The Minister during his Participation in the Session of the World Economic Forum

9/24/2019

On 24th September 2019, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources participated in the Sustainable Development Impact Summit held in New York, which is considered one of the most significant annual events, organized by the World Economic Forum along with the UN General Assembly meetings.

El Molla participated in a panel discussion under the title " Changing the Game in the Fight against Corruption", in which he highlighted the governments' efforts for anti-corruption, bolstering the transparency's systems, enhancing the efficiency in the institutions and highlighting the vital role of the modern technologies used in developing new systems for anticorruption as well as avoiding its effect on the domestic production and misusing the resources.

At the beginning of his speech, Eng. Tarek El Molla asserted, that Egypt's commitment to enhance transparency and anti-corruption during the past years, has contributed to progressing the sustainable development, achieving the optimal exploitation of natural resources and providing a suitable environment that helps in attracting more investments. The Petroleum Sector is considered a model in the light of achieving success stories, growing production volumes and a significant increase in the contribution to the national product.

El Molla reviewed the progress in implementing the Ministry of Petroleum's vision to achieve transparency and efficiency at all activities, pointing out that this comes within the framework of a comprehensive national strategy, adopted by Egypt to maximize transparency and anti- corruption in line with Egypt sustainable development vision 2030.

El Molla pointed out that the Petroleum Sector's Modernization Project that is already underway, adopts applying the best systems and methods, globally, to achieve more transparency, enhance efficiency in the Sector's activities and avoid corruption.

He also highlighted that the program implemented during the past period aims at enhancing and increasing the control efficiency on distributing and exchanging petroleum products at all phases, by  using modern technology, provided by the electronic control system, in distributing fuel, generalizing the usage of GPS  and fuel balances measuring in reservoirs and stations by Automatic Tank Gauge (ATG) systems as effective ones in this field.

The meeting was attended by a number of international experts in the domains of technology for achieving transparency and anti-corruption. The meeting included Mr. Margery Kraus, Founder and CEO of the APCO Worldwide INC, and Mr. Mauricio Tovar Gutiérrez Head of Blockchain at Fourth Industrial Revolution Center of Colombia, in the presence of a large number of interested members and heads of the international companies.