Arab Finance: Prime Minister Mostafa Madbouly held a meeting to review targets under the state’s program to restructure state-owned holding companies, according to a statement.

This comes as part of the government’s efforts to improve state asset management and maximize their economic returns.

Talks addressed mechanisms to reorganize the affiliation of several companies, including the Holding Company for Construction and Development (HCCD), the Holding Company for Tourism and Hotels, the Holding Company for Metallurgical Industries, HoldiPharma, the Holding Company for Cotton and Textiles (CTIHC), and the Chemical Industries Holding Company.

The restructuring program aligns with Egypt’s State Ownership Policy Document, which seeks to redefine the state’s role in economic activity, enhance the efficiency of state-owned enterprises, and expand returns from public assets.

The initiative also aims to foster the operational and financial performance of state-owned companies, improve governance, optimize the use of resources, and support their restructuring and development.

Last June, Egypt approved an additional EGP 1.061 billion in dividend distributions from five state-owned holding companies for fiscal year (FY) 2024/2025 to support the state treasury.