Egypt reviews update to State Ownership Policy to boost private sector role

Osama El-Gohary, assistant to the prime minister and head of the Information and Decision Support Centre (IDSC), briefed the committee on progress across three key areas — the IPO programme, competitive neutrality, and governance of state-owned enterprises.

He said preparations were under way for new listings and measures to enhance market competition, including amendments to the Competition Law and the removal of preferential treatment for state-owned entities. The reforms helped Egypt secure the 2023 World Bank–International Competition Network Award for Promoting Competition Policy, he added.

The parliament has also approved legislation establishing a central unit to oversee state-owned companies, complementing the work of the Sovereign Fund of Egypt and the IPO Unit, as part of broader efforts to strengthen corporate governance and operational efficiency.

The updated State Ownership Policy Document seeks to double private sector participation, shifting focus from asset sales to strategic partnerships designed to raise returns and asset value. The meeting also discussed measures to curb the creation of new state-owned firms, enhance governance, and introduce a transparent profit distribution policy to improve public asset management.

Madbouly reiterated the government’s commitment to empowering the private sector as a “key partner in sustainable growth, job creation, and investment attraction,” noting that the revised policy reflects evolving regional economic conditions and aims to foster greater competitiveness.