Egypt’s President Abdel Fattah El Sisi has called for maintaining efforts to develop the public business sector companies in light of the importance and value of this sector in contributing to the comprehensive development process.
The president’s remarks came as he conferred on Monday with Prime Minister Moustafa Madbouli and Minister of Public Business Sector Mahmoud Moustafa, Presidency Spokesman Ambassador Bassam Radi said.
During the meeting, the president said that with the many and diverse assets the public business sector possesses, it requires good management and investment as state-owned resources, in a way that maximises their returns for the benefit of the national economy, and as basic constants for preserving public money.
The presidential directives for developing public business sector companies followed a briefing on the efforts to upgrade the sector’s affiliate spinning and weaving companies, Spokesman Radi said.
The aspired development would include the mills, processing and manufacturing, as well as modernising machines and equipment in factories, and developing the cotton cultivation process in coordination with the Ministry of Agriculture, Spokesman Radi said.
The president also followed up on plans to develop El Nasr Automotive Manufacturing Company, within the framework of efforts to fully utilise the company’s assets and the various technical expertise it possesses.
During the meeting, the public business sector minister gave a presentation on the comprehensive plan for reforming and developing the sector companies, which aims at achieving the modernisation and sustainable development of the sector, in a way that leads to overcoming obstacles, and upgrading the management system.
He explained that the process of restructuring companies includes qualifying and training human resources to enable these companies to keep pace with industrial development.
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