The discussions centered on opportunities for joint
cooperation and strengthening the partnership between the Ministry of Public
Business Sector and the World Bank Group, particularly in areas of institutional
development and incentivizing investment in affiliated companies. This aligns
directly with Egypt's strategic direction towards achieving comprehensive and
sustainable development.
Minister Shimi extended a warm welcome to the World Bank
Group delegation, outlining the Ministry's strategy for the comprehensive and
systematic reform of its affiliated companies. This strategy aims to significantly
improve performance and enhance sustainability, guided by three core pillars: Egypt
Vision 2030, the Government's Action Program, and the State Ownership Policy
Document.
He further elaborated on the Ministry's vision, which seeks
to achieve the highest return on state investments and maximize the companies'
contribution to the Gross Domestic Product (GDP). This is to be accomplished by
boosting their local and international competitiveness through improved company
performance, modernized management methods, and optimized asset utilization,
all while strictly adhering to quality, governance, and sustainability
standards.
The Minister underscored that encouraging and attracting
private sector investments, both local and foreign, is a pivotal priority in
the Ministry's strategy. He expressed a complete openness to cooperation and
partnership with the private sector across various fields, highlighting the
numerous promising investment opportunities available within the Ministry's
diverse industrial and service sectors. He also showcased several successful
partnership models already established between affiliated companies and global
entities, as well as the local private sector.
Engineer Shimi also indicated the Ministry's ongoing efforts
to enhance governance, disclosure, and transparency levels within its
companies, promote environmental compliance, and transition towards a green
economy. This involves undertaking a number of projects that strictly adhere to
international environmental standards. He stressed that sound asset management
and maximizing returns are key objectives in the reform and development plan,
and emphasized that investing in human capital is a top priority. He noted the
significant focus on raising employee efficiency, developing their skills
through specialized training programs, and implementing the Enterprise Resource
Planning (ERP) system in several affiliated companies as a major step towards digital
transformation and enhanced governance.
For their part, the World Bank Group delegation expressed their appreciation for the Ministry of Public Business Sector's strategic approach to developing its affiliated companies, enhancing partnerships with the private sector, and its ambitious plans for institutional reform and sustainable development. They affirmed their strong eagerness to support technical and investment cooperation with the Ministry and its affiliated companies.