Arab Finance: Hussein Eissa, Egypt’s Deputy Prime Minister for Economic Affairs, discussed enhancing cooperation with the World Bank to enhance the efficiency of public investment management, according to a statement.

In his meeting with Arturo Herrera Gutierrez, Global Director for Governance at the World Bank, Eissa explored ways to improve the performance of state-owned enterprises (SOEs) and economic authorities and strengthen governance frameworks.

This partnership aims to contribute to boosting the efficiency of public spending, improving resource allocation, and supporting economic development priorities.

During the meeting, Eissa highlighted the state’s approach to separate ownership from management in state-owned companies. He noted that their success does not depend on ownership, but rather on the management's ability to achieve efficiency and effectiveness and to provide services that meet the needs of citizens and markets.

The government is moving to restructure SOEs and economic bodies by developing management and governance methods to ensure the efficiency of services while balancing economic efficiency with development objectives, he added.

For his part, Minister of Planning and Economic Development Ahmed Rostom stated that the government is working with the World Bank to complete technical reviews of the Public Investment Management (PIM) framework while continuing discussions on SOEs reform.

Meanwhile, Gutierrez highlighted the importance of valuing state assets, noting that governments typically focus on financial flows such as revenues, taxes, budgets, and public investment, while assets often receive less attention in analysis. Such an imbalance may lead to an incomplete picture of public finance management.