Egypt seeks to attract $40bln investments from private sector in 4 years

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Egypt will take measures to set a program to encourage the participation of the private sector in state-owned assets, with investments worth $10bln annually for a four-year period, President Abdel Fattah El-Sisi stated in a speech on national TV on April 26th.

El-Sisi also directed the government to list military-owned companies on the Egyptian Exchange (EGX) prior to the end of 2022.

Moreover, he ordered the government to begin selling stakes in some of the state-owned companies in the EGX.

On the other hand, the president assigned the government to hold an international press conference to reveal Egypt’s plan in dealing with the economic crisis.

These comments were made on the sidelines of the annual event of the Egyptian Family Iftar.

It is worth noting that the Egyptian military owns a number of companies that operate within different sectors, including industrial, consumer, and services.