PM affirms desire to accelerate boosting share of private sector in economy

Prime Minister Mostafa Madbouly Sunday said that the Egyptian government has a real desire to accelerate extending the participation of the private sector in the economy.

The premier made the remarks during a meeting with Vice President of the International Finance Corporation (IFC) for the Africa Region Sergio Pimenta, following the inaugural session of the “IFC Day in Egypt” ceremony, in the presence of Minister of International Cooperation Rania al #Mashat and a number of IFC officials.

Madbouli said that continued consultations with the IFC underscores the willingness of the Egyptian government to boost the share of the private sector in state’s total investments to reach 65 percent, in compliance with the “State Ownership Policy Document”.

He highlighted the key role of the IFC as a strategic consultant for the Egyptian government that provides technical consultancies on the state’s Initial Public Offering (IPO) program that seeks promoting the contribution of the private sector in the overall economic activities.

Meanwhile, Pimenta asserted continuing consultations with the Egyptian team supervising the IPO program. He added that several workshops are organized with the Egyptian side to discuss mechanisms of handling the offering program in the predetermined sectors.

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