Latest news with #MinistryofPublicEnterprisesSector
Daily News Egypt
17-04-2025
- Business
- Daily News Egypt
Minister of Public Enterprises explores investment opportunities with Denmark
Mohamed El-Shimy, Minister of the Public Enterprises Sector, met with Frej Jackson, Chargé d'Affaires at the Danish Embassy in Cairo, at the Ministry's headquarters in the New Administrative Capital to discuss strengthening economic and commercial cooperation between Egypt and Denmark. The meeting was attended by a delegation of senior Danish officials and representatives from leading Danish companies operating in Egypt across several sectors, including pharmaceuticals, food and agriculture, energy, transport, shipping, mining, cement, and software. Also in attendance was Hanzada Farid, Senior Trade Adviser and Regional Director for the Energy Sector at the Danish Embassy. The discussions focused on exploring avenues for collaboration between Danish firms and companies affiliated with the Ministry of Public Enterprises Sector. Minister El-Shimy emphasized the depth of Egyptian-Danish relations and affirmed the Ministry's openness to partnerships with Danish businesses. He also highlighted the numerous investment opportunities available across the Ministry's affiliated companies, in line with ongoing development plans aimed at enhancing operational efficiency, corporate governance, productivity, and competitiveness. El-Shimy further stressed the importance of exchanging expertise and drawing on Denmark's advanced industrial and technological capabilities to support Egypt's transformation efforts. He noted that such cooperation would help establish long-term, sustainable partnerships with both local and international private sector players, while attracting investments that bolster the national economy. For his part, Chargé d'Affaires Frej Jackson conveyed Denmark's strong interest in expanding cooperation with Egypt. He pointed to the elevated strategic partnership between the two countries following President Abdel Fattah Al-Sisi's visit to Denmark at the end of last year. Jackson affirmed that Danish companies are eager to scale up their presence in Egypt, encouraged by the country's growth potential and strategic geographic position.
Daily News Egypt
09-02-2025
- Business
- Daily News Egypt
Advancing industrial development through modernization, investment: El-Shemy
The Ministry of Public Enterprises Sector is advancing its efforts to develop the industrial sector within its affiliated companies and enhance their performance. Minister Mohamed El-Shemy affirmed that a comprehensive strategy is in place to modernize factories with advanced technology, revive key industries, and introduce new production lines and products. This initiative aims to strengthen production capabilities, enhance competitiveness, and improve the quality of locally manufactured goods to meet global standards. Ultimately, these measures will open new markets and increase exports in alignment with Egypt's Vision 2030 for sustainable development. The ministry's plan emphasizes deepening local manufacturing, replacing imports with domestically produced alternatives, and maximizing the added value of products and raw materials. Operational efficiency is being improved across various sectors, with a strong focus on encouraging both local and foreign investment. Sustainability, occupational safety, and work environment enhancements are key priorities, alongside specialized workforce training to keep pace with global industrial advancements. The public business sector has witnessed remarkable progress in recent years, leveraging its vast assets, capabilities, and economic influence to support national growth. During his speech at the Akhbar El-Youm Economic Conference, El-Shemy highlighted the private sector's crucial role in economic development through its expertise, investment capacity, and ability to drive innovation. He emphasized that public-private cooperation remains the most effective path to achieving sustainable progress. The ministry is actively strengthening partnerships and exploring new opportunities for collaboration in various industries through diverse investment and partnership models. Several public-private partnerships are currently underway, including projects to modernize existing factories with advanced technology, revive specific industries, and introduce new products. Key initiatives include the national project for developing the textile industry, upgrading state-owned pharmaceutical companies, and investing in fertilizers, automotive manufacturing, aluminum, mining, phosphate-based fertilizers, construction, real estate, tourism, and hospitality. The ministry's affiliated companies offer extensive investment opportunities, providing a solid foundation for expansion in industries such as heavy manufacturing, industrial processing, service sectors, renewable energy, and advanced technology. Egypt is well-positioned to achieve its ambitious economic goals under the leadership of President Abdel Fattah El-Sisi, with a clear vision for progress, growth, and prosperity. The ministry remains committed to strengthening partnerships with the private sector to drive industrial efficiency, attract further investment, and expand market reach in alignment with national sustainable development objectives, El-Shemy stated. He stressed that with effective collaboration and synergy between the public and private sectors, challenges can be overcome, new opportunities can be seized, and a brighter future can be built for Egypt. Reaffirming this commitment, he emphasized that joint efforts will pave the way for sustained economic success.
