The government intends to transfer the administration of all government companies to the sovereign Egypt Fund for the purpose of strengthening its returns, according to what the Minister of Investment, Hassan Al -Khatib, said during his participation in the “Interest -2025” conference in Abu Dhabi yesterday.
The fund will focus on the restructuring of the state -owned companies, attracting private sector companies, and perhaps offering them to public subscription, saying: “I see that we have many good companies. And while we transfer them – we let the private sector run – with appropriate governance frameworks, partnership with the private sector, and in some cases we put it on the stock exchange,” according to Al -Khatib. “The perception of the sovereign fund will be to maximize the return on investment and value.”
Al -Khatib explained his approach to dealing with government companies by attracting investments to the companies run by the country – instead of just selling shares. At the Enterprise Financing Forum last year, Al -Khatib said that he does not focus on government proposals (in the traditional form), explaining that he deals with the matter as an “investor”.
He added: “I want to change the entire program, from being focused on selling these assets at any cost, to focus on maximizing its value and the returns we get from behind, or converting it to a sovereign wealth fund, or managing it through the private sector, or achieving income from behind it to generate greater value.”
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