The meeting was held in the presence of Mahmoud El Sakka,
Advisor to the Prime Minister for Public Offerings, along with a number of
senior officials from the Ministry of Public Business Sector and its affiliated
holding companies. The minister welcomed the delegation and underscored the
depth and strength of the long standing strategic partnership between Egypt and
the World Bank Group, as well as the fruitful cooperation across several vital
sectors.
Shimi affirmed the ministry’s aspiration to enhance and
expand cooperation with the World Bank Group in the coming period. He said this
cooperation would support the state’s efforts to implement structural reform
plans, develop affiliated companies, improve operational and financial
efficiency, achieve sustainability, maximize the utilization of state owned
assets, and strengthen governance.
The minister reviewed progress in implementing the Ministry
of Public Business Sector’s strategy. The strategy aims to develop and improve
the performance of affiliated companies, maximize returns on assets, and
strengthen partnerships with the local and foreign private sector as a key
strategic partner in achieving sustainable development. He pointed to the
existence of several successful private sector partnership models across
various sectors.
The meeting discussed a number of promising investment
opportunities within sectors affiliated with the ministry. The sectors include
the spinning and weaving sector and the tourism and hospitality sector. The
discussion also highlighted the ministry’s active contribution to the
government offerings program, supporting investment attraction and
strengthening the role of the private sector in the national economy.
Engineer Shimi pointed to the efforts of affiliated
companies in implementing projects that support the transition to a green
economy. The efforts include improving energy efficiency, reducing carbon
emissions, and aligning with the European Carbon Border Adjustment Mechanism
CBAM. He said these measures ensure the sustainability of Egyptian exports and
enhance their competitiveness in foreign markets, in addition to reviving
assets and restarting idle factories.
In this context, the minister reviewed the project to revive
the green hydrogen plant at KIMA Company in Aswan. The company is among the
world’s earliest producers of green hydrogen since 1960. The minister stressed
the importance of the project in supporting the state’s shift toward clean
energy and promoting green industries.
For their part, the World Bank Group delegation expressed
appreciation for the efforts exerted by the Ministry of Public Business Sector
in implementing development and reform programs. The delegation affirmed
readiness to provide technical support for a number of priority projects,
strengthen frameworks for joint cooperation, and contribute to achieving
sustainable development goals.