Monday 05/May/2025 – 03:57 PM
Dr. Mustafa Madbouly, Prime Minister, held a meeting today; To follow up on the developments of the executive position of the government proposal program.
This came in the presence of Hassan Abdullah, Governor of the Central Bank, Dr. Rania Al -Mashat, Minister of Planning and Economic Development and International Cooperation, Engineer Mahmoud Esmat, Minister of Electricity and Renewable Energy, Ahmed Kajuk, Minister of Finance, Engineer Mohamed Shemi, Minister of Public Business Sector, Engineer Hassan Al -Khatib, Minister of Investment and Foreign Trade, Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, Yasser Sobhi, Deputy Minister of Finance Finance, Rami Abu Al -Naja, Deputy Governor of the Central Bank, and Naha Khalil, Acting Executive Director of Egypt Sovereign Fund, and officials of the ministries and relevant authorities.
The Prime Minister started the meeting, indicating that the convening of this meeting comes in light of the periodic follow -up of the government proposals program, which the state is implementing with the aim of enhancing its ability to meet the financing needs, and in a way that contributes to expanding the ownership base on the Egyptian Stock Exchange, in addition to contributing to attracting more investment flows, maximizing the role of the private sector in economic activity, and raising its participation in public investments during the coming years.
In light of this, Dr. Mustafa Madbouly said: There is a complete conviction of the importance of the sustainability of this program, which comes within the framework of implementing the “State Policy Policy”, pointing out that the government is constantly seeking to take steps and measures that would contribute to implementing the provisions of this important document in its various stages, to achieve the desired goals of it; Where cooperation and coordination are carried out with a number of international institutions specialized in this regard to obtain technical support required in order to enhance the levels of state -owned companies’ efficiency, and increase their commitment to standards of transparency and governance, in a manner that guarantees competitive neutrality; In order to maximize the return on state -owned assets.
Counselor Mohamed Al -Homsani, the spokesperson for the Presidency of the Council of Ministers, stated that the meeting dealt with a summary of the steps taken by the government since the announcement of the proposal program until now, as well as the contracting measures that were taken with the International Finance Corporation and its goals, pointing out that in the meantime, it was noteworthy that 21 transactions were made within 11 sectors with a total of 6 billion dollars so far, and the financing institution was also contracted as a consultant to the government in the proposals, The procedures for offering and operating a number of airports have already started.
In this context, the official spokesman indicated that the framework of the International Finance Corporation has been reviewed; To choose the assets that will be prepared for offering, the most appropriate proposal strategy has been identified, and the sectors that have been identified have been reviewed to be priority to the offering.
Counselor Mohamed Al -Homsani added: During the meeting, the projects that were implemented, or those that are being worked on, were also reviewed, in accordance with the recommendations of the International Finance Corporation, in addition to signing a number of cooperation agreements between the sovereign Egypt Fund for Investment and Development, the National Service Projects Authority for the Armed Forces, and a group of local and international specialized consulting offices.
It was emphasized, during the meeting, that these agreements for the launch of a group of companies of the National Service Projects Authority for the Armed Forces, through a group of specialized consulting offices, come within the framework of the framework agreement signed between the agency and the sovereign Egypt Fund, according to which Egypt’s sovereign fund will restructure and manage the offering of companies owned by the armed forces.
