PM orders preparing plan to identify targeted sectors of state ownership policy

CAIRO, May 21 (MENA) – Prime Minister Mostafa Madbouly directed the preparation of a precise executive plan for the State Ownership Policy Document, identifying the targeted sectors over the coming three years, noting that the plan is clearly linked to the State-Owned Companies Unit. Madbouly also instructed that companies already listed for public offerings on the stock exchange should complete the sale of their designated stakes before the end of the year. He further assigned the preparation of decisions before June 30 to transfer the affiliation of all companies previously under the Ministry of Public Business Sector following the ministry’s abolition. The directives came during a meeting held by the prime minister on Thursday at the government headquarters in the New Capital to review the first quarterly report of the State-Owned Companies Unit at the Cabinet. The meeting was attended by Deputy Prime Minister for Economic Affairs Hussein Eissa, Assistant Prime Minister and CEO of the State-Owned Companies Unit Hashem al-Sayed and members of the unit. Sayed reviewed the status of the state-owned companies plan and presented the unit’s first quarterly report, covering achievements from January to March 2026. He reiterated that the unit aims to enable the state to manage its ownership in companies efficiently and transparently through improving governance systems, restructuring investment portfolios and enhancing partnership with the private sector in a way that achieves financial sustainability and economic development while supporting the competitiveness of the Egyptian economy. Sayed said that, in line with directives from President Abdel Fattah al-Sisi and the state’s orientation toward improving the efficiency of managing state-owned assets and companies while expanding private sector participation in economic activity, the unit continued implementing several approved targets. He noted that these efforts resulted in tangible progress in several priority files, particularly the listing of new companies on the Egyptian Exchange, which received praise from international institutions as an important step toward deepening the market, enhancing transparency and disclosure and creating an attractive environment for local and foreign investment. Sayed added that the unit approved its first-year action plan, which officially came into effect on January 1, 2026, and includes eight integrated pillars aimed at organizing activities, improving implementation and follow-up efficiency and strengthening policy and procedural integration. The plan also includes establishing a comprehensive database, restructuring state-owned investment portfolios, developing the capital market, strengthening governance and sound management systems, regulating human resources, modernizing legislative and regulatory frameworks and improving institutional communication and evaluation mechanisms. He said the unit succeeded during the first quarter of 2026 in exceeding target timelines in several projects, particularly in drafting organizational and legislative frameworks governing the management of state-owned companies, despite continued work on building institutional, technological and human infrastructure. El Sayed also highlighted the launch of the “Rasheed” national platform for inventorying and classifying state-owned companies, a digital system based on artificial intelligence technologies for managing and analyzing company data. He explained that the inventory process resulted in the creation of a database comprising more than 600 state-owned or state-participating companies, with data from around 120 companies entered and analyzed during the initial operational phase. Regarding the public offerings program and ownership restructuring, Sayed said the unit made tangible progress by preparing lists of companies targeted for transfer to the Sovereign Fund of Egypt and other national funds and companies. He added that a number of companies were selected for listing on the Egyptian Exchange, including subsidiaries of holding companies in the public business sector and firms from the petroleum sector. According to the report, six companies were temporarily listed in March 2026, 10 by the end of April and four during the first half of June 2026, while coordination continues to finalize procedures for listing around 10 petroleum-sector companies next month. The report also reviewed technical support provided to state-owned companies through coordination meetings with holding companies, proposals for restructuring, capital increases and operational efficiency improvements to enhance readiness for listing and offering. Sayed said the unit also studied 15 requests submitted by ministries and entities for establishing new companies up to March 31, 2026, approving six requests, rejecting one and continuing to study eight others pending additional data and feasibility studies. He stressed that the unit will continue efforts in the coming period to complete comprehensive databases, strengthen centralized state ownership management, define investment priorities, continue implementing the public offerings program and expand the use of digital transformation tools. Sayed added that the unit’s efforts received broad praise from the international community, including development institutions and partners, as well as special appreciation from the European Commission within the framework of the comprehensive strategic partnership between Egypt and the European Union. He said this international recognition reflects growing confidence in Egypt’s economic reform path and the practical steps taken to improve management of public assets and enhance capital market efficiency. (MENA) The post PM orders preparing plan to identify targeted sectors of state ownership policy appeared first on Egypt Independent.