El-Sisi highlights private sector's role in economic development and export growth

President Abdel-Fattah El-Sisi stressed Sunday the necessity of granting the private sector a central role in driving economic growth and increasing exports through providing the necessary services to exporters and encouraging national investment in production and export.

El-Sisi's remarks came during a meeting with Prime Minister Mostafa Madbouly, Deputy PM for Industrial Development and Minister of Transport and Industry Kamel Al-Wazir, Minister of Finance Ahmed Kouchouk, and Minister of Investment and Foreign Trade Hassan El-Khatib.

According to the Egyptian presidency, the meeting reviewed the Sovereign Fund of Egypt (TSFE)'s efforts to maximize returns from state-owned assets and efforts to forge strong partnerships with the private sector.

The meeting also discussed the efforts to implement the Initial Public Offering (IPO) program in accordance with the outcomes of the State Ownership Policy Document. 

Launched in 2022, the State Ownership Policy Document is a long-term strategy that entails the partial or full withdrawal of the state from more than 79 industries to double the private sector's share of the economy to 65 percent.