A document issued by the Information and Decision Support Center revealed that the government is working on creating a database that includes all the companies that it owns, which are 824 subsidiaries under 33 entities.
The document added that the first inventory of the companies that the state has a stake in and that are in line with the activities planned to be exited from according to the state ownership policy document included 243 companies across 8 sectors.
The document explained that the criteria used for the inventory were the subsidiary, the authorized capital, the number of employees, the financial situation, the registration status on the Egyptian Exchange, the state’s share in the company, the geographical distribution, the profitability status, and the time plans developed to implement the program.
In a related context, the government intends to establish a sector, in cooperation with the organization and administration, under the name “Follow-up of the Implementation of Ownership Policy.” This sector will develop and monitor periodic plans for the work of the Supreme Committee for Implementing the State Ownership Policy Document affiliated with the Cabinet. The new sector will also track and analyze the possible reforms for the private sector, the business environment indicators, and the market competitiveness indicators.
