ArabFinance: The Egyptian government has mulled over ways to implement the presidential orders for attracting investments and entering partnerships with the private sector, particularly with the GCC countries, according to an official statement on May 7th.
During a meeting, Prime Minister Mostafa Madbouly said that the government would take all necessary measures to achieve the presidential mandates through a precisely scheduled plan.
For his part, the Spokesperson of the Egyptian Cabinet Nader Saad revealed that a detailed plan will be devised to execute the presidential mandates, including the partnership with the private sector in state assets, along with the offering of shares in state-owned companies in the Egyptian Exchange (EGX) during 2022, of which some companies are owned by the Armed Forces.
The plan will also cover the launch of an initiative for support and localization of industries, in order to depend on local production and cut imports, as well as promote the private sector’s role in the localization of several large-, medium-, small-, and micro-scale industries, Saad added.
A press conference will be held as per the directives of President Abdel Fattah El-Sisi to announce Egypt’s plan in dealing with the global economic crisis which will include urgent measures to improve the investment atmosphere and attract foreign direct investment (FDI) in the sectors of infrastructure, energy, healthcare, education, and digitalization transformation, Saad highlighted.
Furthermore, Saad noted that Minister of Planning and Economic Development Hala El-Said discussed key investment opportunities in various sectors, especially water desalination and green hydrogen.
Regarding the offering of state-owned companies on the EGX, El-Said noted that advisors will be appointed to evaluate companies planned to be offered on the stock market.