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The exploitation of resources will
be at the origin of sustainable growth in Egypt and the MENA
region. Egypt's oil reserves are expected to be exhausted in
14 to 15 years. Staggering increase in the nation's total
power requirement from the burgeoning Egyptian population
and economy all the more tightens Egypt's fossil fuel
reserves. Hydropower generated by the Nile has already
reached its optimum output and can not be further developed.
Egypt and other MENA countries can thus gain enormously from
energy-saving and exploiting renewable energy resources.
Renewable forms of energy allow the least-cost, sustainable
and reliable supply of energy for the region. By using more
renewable resources for domestic consumption, Egypt can
expand its oil and gas exports, boosting export earnings.
The investment in Egypt by companies from the industrialized
countries helps to upgrade Egypt's infrastructure with
regard to new power generation plants (wind, solar),
transport systems and sewage treatment plants and create new
jobs. The technology transfer resulting from the initial
investment will encourage the Egyptian private sector to
become active in Environmental and renewable energy
technologies. More generally, the investment will strengthen
the Egyptian economy and may become a point of departure for
foreign investment in other sectors.
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