CAIRO – Prime Minister Moustafa Madbouli held a meeting on Sunday to review the progress on several key economic files.
The meeting was attended by Deputy Prime Minister for Economic Affairs Hussein Issa and Assistant Prime Minister and CEO of the State-Owned Enterprises Unit Hashem el Sayed.
At the start of the meeting, Madbouli emphasized that Issa has been closely monitoring the implementation of important economic directives, stating that since the formation of the government, he has held numerous meetings with Issa to track the progress of these tasks, which relate to economic bodies, state-owned enterprises, and the restructuring of the State Ownership Policy Document.
During the session, Issa presented an update on the progress made in these areas.
Regarding the State Ownership Policy Document, Issa mentioned that a meeting was held with the team responsible for updating the document, with a focus on finalizing its updated version and determining its launch date.
He noted that letters had been sent to relevant ministries to gather their input on the proposed updates.
Issa also reviewed the recent announcement regarding the temporary listing of several companies on the stock exchange, a significant project under the economic portfolio.
He provided details on the initial registration of these companies, paving the way for their final listing.
Issa discussed the transfer of state-owned companies to the Egyptian Sovereign Fund. He noted that a meeting had been held with fund officials regarding the transfer of 40 companies, with procedures currently underway to facilitate this move.
Issa also highlighted the ongoing meetings regarding the restructuring of state-owned companies, particularly after the dissolution of the Ministry of Public Business Sector.
These discussions involve completing the general assembly meetings for these companies and engaging with CEOs to address challenges and explore strategies for restructuring the state-owned enterprises in the near future.
Meanwhile, el Sayed provided insights into the progress of the state-owned companies that were previously under the Ministry of Public Business Sector.
He discussed the criteria used to select the 40 companies being transferred to the Sovereign Fund, confirming that these companies possess strong competitive advantages.
He further emphasized the ongoing coordination with the minister of investment and foreign trade to ensure that the Sovereign Fund is fully prepared to manage these companies efficiently.
El Sayed outlined the ongoing steps to complete the public offering program, as part of the broader effort to restructure state assets and optimize their utilization.
