Ministry of Public Business Sector has signed memoranda of understanding (MoUs) in the domains of pharmaceuticals, glass and ceramic industries, steel production, and renewable energy, minister Mahmoud Esmat stated on March 20th.
These agreements were signed after the ministry reviewed previously submitted investments and partnership offers by local private companies and foreign firms.
The ministry is planning to develop and upgrade its affiliated companies to boost their production capacities and improve their performance, in order to increase revenues and reinforce dependance on the local components in production, Esmat said.
He also indicated that a detailed list of investments and partnership opportunities available to companies affiliated with the ministry has been prepared, as the partnership with private sector is a top priority for Egypt.
Esmat’s remarks came during a meeting with members of the Federation of Egyptian Industries (FEI) headed by Mohamed El Sewedy.
For his part, El Sewedy, President of the FEI expressed the federation's commitment to boost cooperation with the ministry.
During the meeting, it was agreed to hold a joint meeting between the Esmat and representatives of members of the Chamber of Ready-made Garments in the near future to discuss the challenges facing the spinning and weaving sector.
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