Egypt PM reviews restructuring of state holding companies

Prime Minister Mustafa Madbouly chaired a meeting in the New Administrative Capital to follow up on plans to restructure state-owned holding companies.

• Madbouly convened officials including Deputy Prime Minister Hussein Issa, Finance Minister Ahmed Kachouk, and Investment Minister Mohamed Farid Saleh to review the program's targets.
• The meeting discussed mechanisms to reorganize the affiliation of six holding companies spanning construction, tourism and hotels, mineral industries, pharmaceuticals, cotton and textiles, and chemicals.
• The restructuring follows the targets of Egypt's State Ownership Policy Document, aiming to maximize economic return on state assets and raise state companies' operational and financial efficiency.
• The program also seeks to fulfill commitments under the structural reform program agreed with international development partners and to strengthen the private sector's role and attract investment.