Minister of Public Business Sector
The protocol was signed by Public Business Sector Minister Hesham Tawfiq, FECC President Ibrahim Al Araby, and FEI Chairman Mohamed el Sewedy.
The public enterprise sector is in dire need for ramping out all its capabilities to compete with the private sector, noted the minister.
CAIRO, April 12 (MENA) - Minister of the Public Business Sector Hesham Tawfiq said on Sunday that a plan was in the pipeline in coordination with the agriculture and trade ministries to develop Egypt's cotton industry. The minister made the remarks at
He said that the developed gin in Fayyoum and other new gins would produce pure cotton with special standards to help improve the price of exported cotton.
The minister affirmed that the only offering made under the programdemonstrated the investors' appetite to invest.
The second phase includes 10 companies, containing eight mining and industrial companies, in addition to e-finance and Banque du Caire.
Minister of Public Business Sector Hesham Tawfik said that the companies are working in many fields.
The strategic objectives of the government’s IPO program are to expand the ownership base, increase governance practices and private sector participation in management, and provide the necessary financing to restructure and develop companies.
The general assembly of the Holding Company approved the draft consolidated budget for 2018/2019 with target revenues of LE 19.2 billion.
The new contract comes under the framework of developing 11 cotton ginners in Egyptian governorates.