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PM probes executive plan to execute Sisi's directives for luring more investments

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Prime Minister Mostafa Madbouli and Minister of Planning and Economic Development Hala El Saeed reviewed Saturday 07/05/2022 the measures the government will take to implement President Abdel Fattah El Sisi’s directives during the Egyptian Family Iftar banquet late April.

During a meeting with the planning minister and CEO of the Sovereign Fund of Egypt Ayman Mohamed Soliman, Madbouli discussed how to implement Sisi’s directives following a time-bound executive plan to lure further investments, and promote cooperation with sisterly Arab nations in the Gulf region.

The meeting also tackled the role investment funds could play on that score, the cabinet said in a statement.

The plan will cover presidential directives to the government about setting a program for the private sector’s participation in state-owned assets, and listing state-owned shares army-owned enterprises on the Egyptian stock exchange before year end, Cabinet Spokesman Nader Saad said.

The plan will also cover Sisi’s orders to the government to launch an initiative aimed at entrenching local industries, reducing imports, and promoting the private sector’s role in strengthening micro, small, and medium scale industries, as well as the incentives proposed in this regard.

Madbouli said that a news conference will be held early next week to reveal the State’s plan for dealing with the global economic crisis, the spokesman noted.

Briefing the prime minister on investment opportunities available in various state sectors, especially water desalination and green hydrogen projects, Saeed said special consultants will be tasked with evaluating the companies set to be listed on the Egyptian stock exchange.