Egypt advances offering of military-run companies

Egypt is intensifying efforts to offer shares in military-run companies, marking a pivotal step in expanding private sector participation in the national economy.

During a high-level meeting on Monday, Prime Minister Moustafa Madbouly met with Minister of Investment Hassan El-Khatib, legal advisor Mohamed Aba Zeid, and representatives from the Sovereign Fund of Egypt (TSFE) to map out the initiative’s progress.

Prime Minister Madbouly highlighted the importance of a detailed roadmap and clear timeline to advance the process, aligning with the government’s broader economic reform strategy.

The discussion centered on steps taken by TSFE to prepare the companies for the offering and reviewed updates on other announced initiatives. The prime minister reiterated the government’s commitment to implementing the State Ownership Policy Document, aimed at enhancing private sector engagement in key economic sectors.

He tasked Minister El-Khatib with overseeing the offering process and ensuring its timely implementation. Regular updates on progress were mandated to maintain focus and momentum.

The ongoing efforts are in line with Egypt’s strategy to attract private sector investments and bolster economic development. By broadening opportunities for private ownership, the government aims to foster growth and unlock the potential of key industries.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser