Egypt aims to increase private sector's share in economy to 50%, IPO program to be expanded soon

BY

-

Tue, 09 Nov 2021 - 03:47 GMT

BY

Tue, 09 Nov 2021 - 03:47 GMT

FILE PHOTO: Finance Minister Mohamed Maait speaks during a news conference in Cairo, Egypt July 5, 2018. REUTERS/Mohamed Abd El Ghany/File Photo

FILE PHOTO: Finance Minister Mohamed Maait speaks during a news conference in Cairo, Egypt July 5, 2018. REUTERS/Mohamed Abd El Ghany/File Photo

CAIRO – 9 November 2021: Egypt’s government aims to stimulate the investment environment and encourage investors to expand their business circles and productive projects in Egypt, in a way that contributes to maximizing the private sector’s participation in the development process, and raising the percentage of its contributions to economic activity from 30 percent to 50 percent within the next three years, according to Minister of Finance Mohamed Maait.

 

Maait said, in a statement, Tuesday that the initial public offering (IPO) program for companies on the stock exchange will be expanded in the coming months; To expand the ownership base of these companies, and to provide more opportunities for the private sector to participate in them and in the fields of their activities, especially after the recent success of the 26 percent offering of E-Finance company.

 

The minister added that the ministry is ready to implement any incentive programs that support the industry, that help in localizing the latest technological expertise and knowledge, maximizing our production capabilities, expanding the export base, and increasing the competitive strength of the Egyptian products in global markets, in a way that leads to strengthening the macroeconomic structure and creating millions of job opportunities. .

 

This came during an open dialogue with representatives of the business community and development partners, during the conference organized by the Egyptian Businessmen Association.

 

Comments

0

Leave a Comment

Be Social