El-Sisi approves State Ownership Policy Document
Updated 12/29/2022 12:00:00 PM
ArabFinance: The Egyptian Cabinet announced that President Abel Fattah El-Sisi approved the State Ownership Policy Document, according to an official statement on December 29th.
Prime Minister Mostafa Madbouly said that the policy document aims at boosting economic growth rates by increasing the investment rate to a range between 25% and 30%, which would consequently raise the economic growth rate to between 7% and 9%.
The document continues reforms conducted by Egypt with regard to enlarging the role of the private sector in economic activity, and creating an economic environment that supports and attracts investment, Madbouly added.
Moreover, the document also provides for key elements of the state’s proprietary assets, including the methodology of making decisions regarding keeping or selling those assets, the Prime Minister noted.
He added that, according to this policy, the state would focus on injecting investments into key sectors that were unattractive to the private sector.
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