Rédaction Africa Links 24 with MENA
Published on 2024-02-06 10:51:45
The government has expressed a strong commitment to implementing the State Ownership Policy Document as a means to undertake comprehensive reform of state-owned institutions and create more opportunities for private sector investments, Prime Minister Moustafa Madbouly confirmed. Madbouly made these remarks during a meeting with officials from the World Bank (WB) to discuss strategies for supporting good governance of state-owned companies.
The meeting, which took place on Monday, was attended by International Cooperation Minister Rania al-Mashat, Regional Director of the World Bank for Egypt Stephane Gimbert, and Senior Investment Policy Officer in the World Bank Group’s Foreign Investment Advisory Service (FIAS) Peter Ladegaard. During the meeting, Mashat, who also serves as the Governor of Egypt at the World Bank, emphasized the importance of collaboration with the WB to strengthen the role of the private sector in the investment sphere.
Mashat highlighted that one key aspect of such collaboration is the implementation of the State Ownership Policy Document through good governance and regulation of the operations of government firms. The goal is to improve their financial conditions and enhance their competitiveness. Gimbert, on the other hand, stated that the WB is committed to providing Egypt with the necessary financial and technical support to implement the State Ownership Policy Document.
In the meantime, Ladegaard presented various proposals and ideas aimed at supporting the governance of state-owned enterprises. At the conclusion of the meeting, the premier expressed the government’s eagerness to enhance cooperation with the WB in the management of state-owned companies.
The reaffirmation of the government’s dedication to implementing the State Ownership Policy Document underscores its commitment to advancing reforms and creating a more conducive environment for private sector investments in Egypt. By prioritizing good governance and regulation of state-owned institutions, the government aims to improve their financial stability and enhance their competitiveness. The collaboration with the World Bank is seen as crucial in providing the necessary support, both financially and technically, to achieve these goals.
The emphasis on the role of the private sector in the investment sphere reflects the government’s recognition of the sector’s potential to drive economic growth and development in the country. By leveraging the expertise and resources of the private sector, the government aims to foster sustainable development and create more opportunities for investment in various sectors of the economy.
Overall, the government’s focus on implementing the State Ownership Policy Document and its collaboration with the World Bank signal a strong commitment to advancing reforms and enhancing the role of the private sector in Egypt’s economic development. As the government works towards improving the governance of state-owned enterprises, it looks to the World Bank for the necessary support and expertise to realize these objectives.
Read Original article on Egypt Independent
