CAIRO - 17 November 2024: Prime Minister Mostafa Madbouly chaired a meeting of the Economic Ministerial Group today at the Cabinet headquarters in the New Administrative Capital to discuss economic priorities, including initial public offering (IPO) efforts and measures to boost Egypt’s economic stability.
During the meeting, the Prime Minister reaffirmed the government's commitment to accelerating the offerings program as a cornerstone of its economic reform strategy. Discussions highlighted progress on the offering of shares in state-owned entities across various sectors, including banking, airports, pharmaceuticals, plastics, glass, and petrochemicals.
According to Cabinet Spokesman Mohamed El-Homsany, preparations are underway to finalize offerings for several entities in the coming months, with an additional 15 companies scheduled for future offerings. These initiatives align with the government’s objectives to attract investments, enhance economic growth, and strengthen foreign currency reserves.
The Prime Minister urged all relevant entities to expedite the remaining procedures for companies ready for offering, ensuring their swift entry into the market. This, he stated, will contribute to achieving the government's fiscal and investment targets.
The meeting also reviewed recent developments in export subsidy programs, focusing on increasing support for exporters across various sectors. This initiative aims to bolster exports as a vital source of foreign currency, reaffirming the state’s commitment to strengthening Egypt’s trade balance and global competitiveness.
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