PM: Gov't Adopts Integrated Vision for State Involvement in Various SectorsSource: www.export-egypt.com 6/14/2022, Location: Africa |
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Prime Minister Mostafa Madbouli said that the “State Ownership Document” had been drawn up after studying 30 similar examples of international experience.
Addressing a plenary session to launch a three-month expert dialogue on the document Madbouli noted as many as 20 experts had participated in drafting the document, which seeks to outline the State's policy toward its own assets and the economic domains in which it will operate in the coming period. Moreover, relevant reports issued by international institutions and specialized global offices had also been used while drafting the document. Speaking about mechanisms the government plans to follow to exit a large number of industries within three years to give more opportunities to the private sector, Madbouli said an integrated vision had been adopted for the government’s involvement in various economic activities. He explained that while the government intends to be totally absent in certain sectors, other sectors will see limited government presence by maintaining or reducing public investments; while other sectors will see greater government presence. The document identifies these sectors in detail, the prime minister said, according to a statement released by the Cabinet's media office. The document has been drawn up in continuation of the economic reforms adopted by the Egyptian state, the premier said, asserting the state’s commitment to implementing the 2nd phase of the country’s 2021 structural reform program and a program to monetize assets worth $10 billion on an annual basis. Madbouli also highlighted the state’s plans to launch a package of investment incentives, especially green ones, improve the system for acquiring land plots for industrial projects, create a more competitive environment, and promote competitive neutrality. A great host of relevant officials, economists and representatives from the parliament, the private sector, academia, the Federation of Egyptian Industries (FEI), and the Federation of Egyptian Chambers of Commerce (FECC) took part in the discussions. |
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