Latest news with #Mohamed El-Shimy
Zawya
23-07-2025
- Business
- Zawya
Egypt, India discuss expanding industrial, investment partnerships
Egypt - Mohamed El-Shimy, Minister of Public Enterprises Sector, held a meeting with Suresh Reddy, India's ambassador to Egypt, to enhance bilateral cooperation in economic and industrial fields and explore partnership opportunities with companies affiliated with the ministry. At the outset, El-Shimy praised the long-standing and historic ties between Egypt and India, expressing hope to elevate these relations to broader horizons of cooperation. He also highlighted the range of incentives and facilitations that Egypt offers to foreign investors, inviting Indian businessmen and investors to visit the ministry's factories and companies to see their capabilities and investment prospects up close—particularly in sectors identified as priorities for joint collaboration. The meeting discussed potential cooperation in several strategic sectors, including pharmaceuticals—especially active pharmaceutical ingredients and treatments for chronic and complex diseases—as well as textiles, ready-made garments, fertilisers, chemical industries, aluminium, vehicles, and mining. It also touched on the hospitality sector, where partnerships already exist with some Indian companies. El-Shimy and Ambassador Reddy reviewed the portfolio of companies affiliated with the ministry, detailing their areas of operation and the investment opportunities they present. This portfolio offers a solid foundation for potential industrial and commercial partnerships. For his part, Reddy affirmed the depth and strength of Egypt–India relations, describing them as 'historical and rooted in mutual respect and cooperation' across many domains. He expressed his country's interest in further strengthening ties with Egypt, particularly in economic and industrial sectors, noting Egypt's strategic geographic location, modern infrastructure, and significant investment potential. The meeting comes within the framework of the Public Enterprises Sector Ministry's broader strategy to expand international cooperation and global partnerships. This approach aims to enhance the performance of the ministry's affiliated companies, attract foreign direct investment, and increase the added value of Egyptian industries—supporting Egypt's path toward sustainable economic development.
Zawya
14-07-2025
- Business
- Zawya
Egypt, World Bank explore deeper cooperation, partnership opportunities
Egypt's Minister of Public Enterprises Sector, Mohamed El-Shimy, met with a high-level delegation from the World Bank Group at the ministry's headquarters in the New Administrative Capital. The delegation included Stéphane Guimbert, World Bank 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 Country Officer in Egypt. The discussions focused on opportunities to deepen cooperation and strengthen the partnership between the Ministry of Public Enterprises and the World Bank Group, particularly in the areas of institutional development and attracting investment into state-owned enterprises, aligning with Egypt's broader strategy for inclusive and sustainable development. At the outset, Minister El-Shimy outlined the ministry's comprehensive strategy for reforming its affiliated companies, aimed at enhancing performance and ensuring long-term sustainability. This strategy is guided by three key frameworks: Egypt's Vision 2030, the government's action programme, and the State Ownership Policy Document. He emphasised that the ministry's vision seeks to maximise returns on state investments and increase the contribution of affiliated companies to national GDP, while enhancing their competitiveness both domestically and internationally. This is being pursued by modernising management practices, improving operational performance, optimising asset utilisation, and adhering to quality, governance, and sustainability standards. Attracting and encouraging private sector investment—both local and foreign—remains a central pillar of the ministry's strategy, El-Shimy added. He highlighted the ministry's openness to cooperation and partnerships across a range of sectors, noting the availability of numerous promising investment opportunities in industrial and service activities under its supervision. Several successful partnership models with both local and international private sector players already exist, he noted. El-Shimy also pointed to efforts to strengthen governance, transparency, and disclosure within affiliated companies, alongside a commitment to environmental sustainability and moving towards a green economy. This is reflected in various projects that comply with international environmental standards. Effective asset management and maximising returns remain key objectives of the ministry's reform agenda, he stressed. Investing in human capital is another top priority, El-Shimy noted, with the ministry implementing specialised training programmes to enhance employee skills and efficiency. He also highlighted the rollout of Enterprise Resource Planning (ERP) systems across several affiliated companies as part of the drive for digital transformation and improved governance. For their part, the World Bank Group delegation praised the ministry's reform strategy, its engagement with the private sector, and its commitment to institutional development and sustainable growth. They reaffirmed the World Bank Group's readiness to support the ministry and its affiliated companies through technical expertise and investment cooperation. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
