Prime Minister Mostafa Madbouly said the government is closely monitoring progress in its program to divest stakes in a number of state-owned companies as part of the second edition of the State Ownership Policy (SOP) document for 2026-2030 Chairing a meeting in the New Capital, Madbouly said the government is moving ahead with the state asset divestment program to expand private sector participation in the economy, in line with directives from the political leadership.
He added that the program aims to maximize returns on state assets, improve their management, attract more domestic and foreign investments and strengthen the business community's confidence in the Egyptian economy. Madbouly stated the government seeks to give the private sector a greater role in driving economic development, increasing production and employment and enhancing the competitiveness of the Egyptian economy.
He shed light on ongoing coordination among relevant authorities to ensure the government's initial public offering (IPO) program proceeds according to schedule and delivers the highest possible economic return. The Prime Minister said that the private sector's contribution to total investments has risen to more than 56.5 percent over the past three years and could exceed the government's target of 65 percent within the next two years.
On the divestment program, Madbouly said that 20 of the 30 companies announced under the government's IPO program have now secured temporary listings on the Egyptian Exchange, including 10 affiliated with the petroleum sector and 10 under the public business sector.
The Inauguration of the State Strategic Command Headquarters “The Octagon” in the New Capital President Sisi inaugurates 'Octagon' Strategic Command headquarters in New Capital The Inauguration of the State Strategic Command Headquarters “The Octagon” in the New Capital President Sisi inaugurates 'Octagon' Strategic Command headquarters in New Capital