Egypt moves to maximise returns from state assets

Egypt’s Prime Minister Mostafa Madbouly met with Minister of Investment and Foreign Trade Hassan El-Khatib on Monday to review the latest efforts of Egypt’s sovereign fund in maximising returns from state-owned assets, including ongoing preparations for the government’s initial public offering (IPO) programme and the redevelopment of key districts.

El-Khatib outlined the fund’s role in attracting joint investments and managing state assets efficiently, stressing the importance of public-private partnerships in boosting economic growth. He highlighted progress in implementing the IPO programme in line with the State Ownership Policy Document, with steps underway to offer previously announced companies.

The minister also provided updates on plans to optimise the use of Khedivial Cairo and the government’s old buildings, describing their historic buildings as prime investment opportunities. Several proposals are being studied for their redevelopment, including conversion into hotels and other commercial projects to attract major investors.

On his part, Prime Minister Madbouly reaffirmed the government’s commitment to ensuring the effective utilisation of state-owned assets and promoting them as attractive investment opportunities. He underscored Egypt’s competitive business environment, positioning the country as a key investment destination in the region.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama