Egypt's Prime Minister Madbouly leads discussions on the government offerings program.
Dr. Mostafa Madbouly, the Prime Minister of Egypt, presided over a meeting at the government headquarters in the New Administrative Capital today to review the status of the government offerings program. The meeting was attended by 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, and Ahmed Kjok, the Deputy Minister of Finance for Financial Policies, along with officials from relevant ministries and entities.
At the outset of the meeting, the Prime Minister emphasized that the government offerings program is a fundamental direction for the state since the issuance of the State Royal Policy Document aimed at enhancing private sector participation in the national economy.
Dr. Mostafa Madbouly stated, "What matters to us now is building on the positive momentum following the decisions and reforms taken by the government and the central bank in the recent period by completing the structural reforms of the Egyptian economy targeting key productive sectors that contribute to increasing export rates, notably the industrial, agricultural, communications, and information technology sectors. Export revenues will contribute to increasing the flow of dollar resources alongside the deals and agreements concluded by the Egyptian government in the recent period."
He explained that the goal of this meeting is to follow up on completing the government offerings plan and sustaining it in cooperation with the International Finance Corporation, the government's strategic advisor regarding the offerings program. The aim of cooperating with the International Finance Corporation is to obtain support and technical advice for the government offerings program, assist in structuring and preparing the targeted companies for private sector offerings, and improve corporate governance to enhance capital flows and support the state's vision for economic recovery.
During the meeting, the status of offering several companies in various sectors was reviewed, aiming to expand the ownership base, attract investments, and develop these companies.
