Source: The Egyptian Prime Minister's Cabinet Page
The Prime Minister, Dr. Mustafa Madbouly, chaired a meeting at the Government headquarters in the New Administrative Capital to review the status of the government IPO program, in the presence of Mr. Hassan Abdullah, the Governor of the Central Bank, Engineer Tarek El Molla, the Minister of Petroleum and Mineral Resources, Dr. Hala El Said, the Minister of Planning and Economic Development, Dr. Mohamed Maait, the Minister of Finance, Engineer Mahmoud Essmat, the Minister of Public Business Sector, Mr. Ahmed Kajuk, the Deputy Minister of Finance for Financial Policies, and officials from relevant ministries and entities.
Dr. Mustafa Madbouly stated: "What matters to us now is building on the positive momentum that followed the decisions and reforms taken by the government and the Central Bank in the recent period, through completing the structural reform measures for the Egyptian economy targeting a range of important productive sectors contributing to increasing export rates, notably: industry, agriculture, communications, and information technology." He pointed out that export returns will contribute to increasing the flow of foreign currency alongside the deals and agreements made by the Egyptian government during the past period.
The meeting aimed to ensure the successful completion and sustainability of the government IPO plan in collaboration with the International Finance Corporation (IFC), the government's strategic advisor for the program. Cooperation with the IFC aims to secure support and technical advice, structure and prepare targeted companies for private sector offerings, and enhance corporate governance to attract capital flows and align with the state's vision for economic recovery.
The meeting discussed the progress of offering several companies across various sectors to expand ownership, attract investments, and foster their development. The government remains committed to strengthening the private sector's role in the national economy, as outlined in the State Ownership Policy Document.
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