Prime Minister Mostafa Madbouly reviewed the targets of a programme to restructure holding companies as part of the state’s efforts to reorganise state-owned enterprises, improve the management of public assets and maximise their economic returns.
Madbouly made the remarks during a meeting on Wednesday with Deputy Prime Minister for Economic Affairs Hussein Eissa, Minister of Finance Ahmed Kouchouk, Investment and Foreign Trade Minister Mohamed Farid, and Future of Egypt Authority for Sustainable Development Chairman Bahaa El-Ghannam.
The meeting reviewed mechanisms for reorganising the affiliation of several holding companies, including the Holding Company for Construction and Development, the Holding Company for Tourism and Hotels, the Metallurgical Industries Holding Company, the Holding Company for Pharmaceuticals, Chemicals and Medical Supplies, the Cotton, Spinning and Weaving Holding Company, and the Chemical Industries Holding Company.
The restructuring programme is in line with the objectives of the State Ownership Policy Document, aiming to redefine the state’s role in economic activity, maximise returns from state assets, and improve their management and utilisation.
It also aims to restructure and develop state-owned companies, enhance their operational and financial efficiency, and strengthen corporate governance.
The programme is further intended to support the structural reform commitments agreed with international development partners, expand the private sector’s role in the economy, attract investment and improve the efficiency of resource allocation.
It also stresses the importance of effective co-ordination, regular follow-up and performance assessment to help achieve the state’s economic objectives.
