In a high-level meeting underscoring Egypt’s accelerating economic reform efforts, Minister of Public Enterprises Sector Mohamed El-Shimy hosted a delegation from the World Bank Group at the Ministry’s headquarters in the New Administrative Capital. The discussions centered on advancing institutional development, attracting investment into state-owned enterprises (SOEs), and aligning with Egypt’s Vision 2030 for inclusive and sustainable growth.
The World Bank delegation included Stéphane Guimbert, Country Director for Egypt, Yemen, and Djibouti; Cheikh Oumar Seydi, Regional Director for North Africa at the International Finance Corporation (IFC); and Saad Sabra, IFC’s Country Officer in Egypt.
Reforming State-Owned Enterprises for Long-Term Competitiveness
At the outset, Minister El-Shimy presented the ministry’s strategic roadmap for reforming its portfolio of affiliated companies. Anchored in Egypt’s State Ownership Policy Document, the strategy is designed to maximize state investment returns, increase SOEs’ contribution to GDP, and enhance their domestic and international competitiveness.
“Our goal is to transform public enterprises into dynamic, performance-driven entities that contribute meaningfully to Egypt’s economic development,” El-Shimy said.
Building Resilient, Investor-Ready Enterprises
Minister El-Shimy emphasized the ministry’s openness to partnerships across industrial and service sectors, citing successful models already implemented with both domestic and international private actors. He highlighted several high-potential investment opportunities.
The ministry is actively working to build resilient, investor-ready enterprises, backed by rigorous governance standards and environmental sustainability measures. El-Shimy reaffirmed Egypt’s commitment to advancing a green economy, aligning with international sustainability norms.
Operational governance Development
A critical element of the reform effort is the digital modernization of affiliated companies. El-Shimy highlighted the rollout of Enterprise Resource Planning (ERP) systems across several entities to improve operational governance, transparency, and data-driven decision-making.
The ministry is also prioritizing human capital investment, launching specialized training and capacity-building programs to enhance workforce efficiency and align employee skills with evolving market needs.
Supporting Egypt’s public sector transformation
The World Bank Group delegation commended Egypt’s public enterprise reform strategy and its integration of sustainability, transparency, and private sector engagement. They welcomed the government’s willingness to collaborate and expressed readiness to provide technical and financial support through the IFC and other World Bank mechanisms.
“We are encouraged by the ministry’s ambitious roadmap and its commitment to sustainable, inclusive growth,” said Stéphane Guimbert. “The World Bank Group stands ready to support Egypt’s public sector transformation with global expertise and investment facilitation.”
