Tuesday 04 Mar
Prime Minister Dr. Moustafa Madbouly chaired a meeting to review the share offering procedures for affiliated armed forces companies, as part of his ongoing oversight of announced company share offerings.
The meeting was attended by Engineer Hassan El-Khatib, Minister of Investment and International Trade, Counselor Mohamed Aba Zaid, Legal Advisor to the Minister of Investment and International Trade, Noha Roushdy Khalil, Acting Executive Director of the Sovereign Fund of Egypt, and Ghada Nour, Assistant Minister of Investment and International Trade for Investment, Promotion, and Government Offerings.
At the outset, Madbouly emphasized the need for a detailed
plan and timeline for the upcoming share offerings of the announced armed
forces companies. The meeting subsequently reviewed the Sovereign Fund of
Egypt's progress in preparing these companies for market entry.
The meeting further reviewed the status and procedures for
the remaining announced company offerings. The Prime Minister reiterated the
government's commitment to advancing these offerings, aligned with the State
Ownership Policy Document. This aligns with the government's broader objectives
of supporting the private sector and implementing economic reforms.
The Prime Minister tasked the Minister of Investment with overseeing the entire offerings file. This includes developing and presenting a periodic report on progress and implementing a robust and expedited timeline for the offering process. The Minister of Investment is accountable for ensuring swift and decisive action on this critical matter.
