Egypt's Sisi directs government to deepen national industrialization of electric cars

CAIRO - 13 February 2022: President Abdel Fattah El Sisi gave directives to continue working on deepening the national industrialization of electric cars, especially the feeding industries, to keep pace with the global trend in this framework, said Presidential Spokesperson Bassam Rady in a statement.

 

During a meeting with Prime Minister, Number of Ministers and Officials on Sunday, the President was briefed on the government's plan for the proposals program for state-owned companies, Rady said.

 

The minister of finance, in his capacity as rapporteur of the IPO Committee, presented the state's plan for the IPOs program until December 31,2022, while determining the companies nominated in this context to trade their shares on the Egyptian Stock Exchange. The Governor of the Central Bank of Egypt also reviewed the contribution of the banking sector to the IPO program in the coming period, Rady added.

 

The President issued directives for the government to continue the IPO program during the coming period to expand the base of ownership in the Egyptian Stock Exchange and attract direct investments, taking into account the diversity of the program to cover various economic sectors, Rady continued.