Egypt’s Prime Minister Mostafa Madbouli said Sunday that the Country Partnership Framework 2023 – 2027 with the World Bank enhances competition among companies.
Addressing a joint press conference with the International Funding Corporation (IFC) Managing Director Makhtar Diop, Madbouli said that the Egyptian government believes in the need for enhancing competitive neutrality is a key issue for helping the private sector and increasing productivity that would have an impact on increasing job opportunities and bolster business competitiveness.
Madbouli said: “I would seize the opportunity to greet ourselves on this important partnership with IFC as it will collaborate with the Egyptian cabinet asset evaluation committee to implement the government’s initial public offering (IPO) programme under a technical services and advisory agreement.”
The premier also noted that the agreement aims to promote the use of private capital and increase investments and competitiveness among companies.
For achieving this purpose, the Supreme Council for Investments, chaired by President Abdel Fattah El Sisi, has outlined a strategy for Egypt as the State is seeking to enhance the role of private sector in economic activities from 30 percent at the current time to 60 percent within the coming three years, the premier noted.
