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.
Yu Tong company will take over the management and supervision of assembling as many as 105 buses on the production lines of EAMCO along with training and qualification of workers of the company to carry out the project.
The second phase includes 10 companies, containing eight mining and industrial companies, in addition to e-finance and Banque du Caire.
Minister Tawfik pointed out that his ministry will focus during the coming months on plans of reforming the ailing companies to make them profitable.
The general assembly of the Holding Company approved the draft consolidated budget for 2018/2019 with target revenues of LE 19.2 billion.