Egypt’s Prime Minister reviews economic entity restructuring efforts
Egyptian Prime Minister Mostafa Madbouly chaired a meeting Monday to assess the progress of the committee responsible for reforming and restructuring the nation’s economic entities. The meeting included Planning and International Cooperation Minister Rania Al-Mashat and Hussein Eissa, head of the committee’s technical secretariat.
Prime Minister Madbouly emphasized the importance of continuing these reforms, citing their role in addressing challenges and improving the efficiency and GDP contribution of the affected entities.
According to Prime Minister’s spokesperson Mohamed El-Hommosani, the meeting reviewed a detailed report from the recently established technical secretariat. This secretariat is conducting restructuring studies, with its findings to be presented to the higher committee overseeing economic entities.
Al-Mashat explained that the first phase of restructuring involves evaluating 59 economic entities to determine their future. Options considered include maintaining the existing structure, converting entities into public entities, merging entities, dividing entities into smaller units, liquidating entities, or transforming them into holding companies. She detailed the criteria guiding this process and the consultations held with officials from these entities.
Eissa reported that after reviewing 40 entities, decisions have been reached regarding 40 of them: 29 will remain unchanged; one will be liquidated; three will be merged; and seven will be converted into public entities. He noted that the remaining 19 entities are under review, with a final report expected soon to be submitted to the Cabinet.
Eissa stated that the second phase will focus on the detailed restructuring of each entity, aiming to boost efficiency and increase its contribution to the nation’s GDP.
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