Mohamed Shimi, the Minister of Public Enterprises Sector, convened an extensive meeting with the heads of the ministry’s holding companies to assess the progress of various projects and strategic plans aimed at enhancing company development, increasing operational efficiency, and maximizing the utilization of available assets.
During the meeting, updates on key projects across multiple industries were reviewed, including those under the holding companies for chemical industries, metallurgical industries, cotton, spinning and weaving, pharmaceuticals, construction and development, and tourism and hotels. Shimi underscored the importance of expediting development initiatives that reinforce the role of these companies in supporting industry and the national economy. He emphasized improving production capacity, strengthening competitiveness, and enhancing the quality of goods and services offered by these enterprises.
The minister highlighted the necessity of completing projects within the designated timelines, stressing strict adherence to deadlines for development plans. He called for greater cooperation between subsidiary companies to optimize available resources and foster integration across various sectors. This includes formulating executive plans with specific schedules to ensure the best utilization of underutilized assets, thereby maximizing their returns and boosting the financial and productive efficiency of the companies.
Shimi further emphasized the imperative of maintaining high standards of quality, sustainability, and safety across all production stages, aligning with the state’s vision to bolster local production and advance sustainable development. He underscored the critical role of effective marketing strategies and continuous employee training programs to refine skills and enhance overall performance. These efforts, he noted, would not only improve operational efficiency but also strengthen the companies’ competitive standing in both local and international markets.
A key focus of the meeting was monitoring the implementation status of the Enterprise Resource Planning (ERP) system in the holding companies and their subsidiaries. Shimi stressed the importance of fully integrating this system to optimize operational performance, improve workflow efficiency, and enhance transparency in financial and administrative transactions.
Challenges encountered in implementing the ERP system were also examined, with an emphasis on identifying innovative solutions to accelerate its execution. The discussion also addressed the need for companies to update and enhance their websites to reflect their evolving business strategies and improve digital engagement.
The minister directed that the ERP system’s implementation be expedited, instructing all necessary tools to be deployed to ensure governance standards are applied with the highest level of efficiency. He called for fostering a culture of transparency within the companies to create a more dynamic work environment and deliver higher-quality products and services.
Shimi reaffirmed that the application of governance principles is a fundamental pillar of the ministry’s strategy, ensuring effective oversight and achieving its broader strategic objectives. By enforcing governance measures, the ministry aims to provide precise and efficient monitoring of company operations, ultimately driving sustainable growth.
Additionally, the meeting tackled efforts to resolve financial entanglements between state-owned companies and various government entities, a step that is expected to significantly improve the financial health of these enterprises. Shimi also emphasized the importance of strengthening partnerships with the private sector to enhance production capabilities, enter new markets, and increase Egyptian exports.
Through these measures, the Ministry of Public Enterprises Sector aims to solidify the role of state-owned companies as key contributors to Egypt’s economic growth, ensuring their long-term sustainability and global competitiveness.
