13 April 2024 03:47 PM

PM reviews 'listing program' ahead of official announcement

Saturday، 04 February 2023 - 07:31 PM

Prime Minister Mostafa Madbouli chaired a high-level meeting Saturday to review a government plan to list state-owned enterprises on the Egyptian Exchange (EGX) in 2023.

The program is the executive phase of the State Ownership Policy Document, which was issued following the 2022 Economic Conference, the premier said.

It intends to supplement the government's efforts to improve the role of the private sector in economic activity, provide an appealing and favourable environment for investment, and so increase economic growth rates, he added.

The meeting was attended by Governor of the Central Bank of Egypt Hassan Abdalla, Minister of Planning and Economic Development Hala el Saeed, Minister of Finance Mohamed Maait, top officials from the appropriate ministries, and the Egyptian Sovereign Fund, among others.

Participants discussed the positions of corporations in various industries that would be included in the program, as well as its executive processes and timeframe.

The meeting aimed at approving the final details of the state plan, Madbouli said.

The initiative will run throughout the year and will provide shares in over 20 firms, he added.

MENA


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