Prime Minister Mostafa Madbouly held a meeting to follow up on the development plans for seven historic hotels previously offered under the government’s privatization program.

Egypt plans to begin offering its airports to the private sector for management and operation starting next year.

Some investment banks are conducting fresh evaluations of the state-run fuel retailer Wataniya and the military-owned National Company for Producing and Bottling Water (Safi) in preparation for initial public offerings (IPOs) on the Egyptian Exchange (EGX) in the first quarter (Q1) of 2025.

The Egyptian government is planning to offer stakes in Port Said Container and Cargo Handling Company (PSCCHC) and Damietta Container and Cargo Handling Company (DCHC) through initial public offerings (IPOs) on the Egyptian Exchange (EGX).

Prime Minister Mostafa Madbouly has reviewed the proposed executive measures from the Ministry of Civil Aviation regarding airports management and operation by private sector companies.

Egypt is set to offer stake in the 6th of October dry port to investors by next January, Director Finance Ministry’s PPP Central Unit Atter Hannoura said.

Egypt has received three international offers to buy stake in the military-owned National fuel retailer Wataniya, CEO of The Sovereign Fund of Egypt (TSFE) Ayman Soliman told Asharq Business on November 2nd.

Egypt is making a decent progress on several levels, including privatization and public finance, Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva said.

Egypt has signed contracts worth a total of $1.9 billion with the private sector to sell state-owned assets under its initial public offering (IPO) program.

The recovery of Cairo’s real estate sector and construction activities is likely to be accelerated by a revitalized privatization program aimed at attracting much-needed foreign direct investments (FDI) into Egypt’s economy, according to JLL’s Cairo Real Estate Market Overview Report for the first quarter (Q1) of 2023.

IMF Egypt Mission Chief for Egypt Ivanna VladkThe Washington-based fund encourages more privatization deals for state assets and further flexibility in the Egyptian pound to ensure a successful review, the sources added.

Georgieva said, on the sidelines of the World Government Summit in Dubai, that Egypt is one of the innocent countries that got hit by mistake, adding that the government did a great job of reforming the country’s economy, then it was hit by the pandemic, before it was severely affected by Russia’s invasion of Ukraine which caused a huge decline in tourism revenues and a sharp rise in food prices.

El-Sisi’s remarks came during an inauguration ceremony of the expansions of an industrial city SILO foods affiliated to the National Service Projects Organization (NSPO) on February 9th.