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Egypt seeks to buy proposals from the government of Saudi Arabia and the UAE

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A high-ranking Egyptian delegation, which included the heads of the Financial Supervisory Authority, the Central Bank of Egypt and the Egyptian Stock Exchange, held a promotional tour to Saudi Arabia and the UAE.

The promotional tour included holding a series of meetings with 20 high solvency investment institutions in Riyadh, Dubai and Abu Dhabi to catch up with the latest developments and developments in the Egyptian economy, according to a financial watchdog report.

The statement said the promotional tour coincides with the announcement by the Egyptian government of the list of government proposals as part of its goals to expand the ownership base of state-owned companies to activate the public ownership document, as the list of potential proposals includes 32 companies.

Riyadh witnessed the first stations of the promo tour, where meetings were held with 7 Saudi investment institutions, then Dubai and Abu Dhabi, where interviews were held with 13 investment institutions, during which presentations were made and opinions, expertise and experiences were exchanged on the latest developments in the Egyptian economy and policies adopted and implemented by the Egyptian government to prepare a business environment and an attractive investment climate.

The Egyptian delegation took part in an investment forum organized by Mubasher Holding Group in Riyadh, as well as an investment forum organized by HSBC investment bank in Dubai, which was attended by officials from the Egyptian Sovereign Fund and the Ministry of Finance, with the participation of a number of Saudi Arabian investment institutions and Emirates.

The two forums featured presentations from the Egyptian side on the latest developments and developments in the Egyptian economy, as representatives of the Egyptian Sovereign Fund explained during the forum that the government is rapidly moving towards implementing the government’s proposals to expand the ownership base of state-owned companies, one of the most important mechanisms for implementing the document on State Ownership, which was approved by the President of the Republic after an extended public dialogue to increase the participation of the private sector in economic activities in order to achieve the goals of economic and social development plans, followed by a public discussion that included several points, the most important of which is the program to expand the ownership base.

Source: Masrawy website.

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