OPEN// PM: Offering of several state-owned companies for private institutions to manage them
During a press conference held following the weekly Cabinet meeting, the premier added that these agreements are part of the measures taken by state bodies concerned with implementing the government's listing program.
This involves offering many state-owned companies to private sector institutions for management and operation, in line with Egypt's State Ownership Policy Document.
The prime minister stated that the agreements for listing companies under the NSPO include the National Company for Petroleum, Chillout, Silo Foods Industries, Safi, and Watanya Company For Roads.
Under the agreements, offering of some companies will be finalized in 2025 with the rest to be completed in 2026.
Meanwhile, the premier said he followed up progress in the the project to develop the Pyramids archaeological area after the pilot operation of the Pyramids' entrance from Fayoum's direction.
Madbouli also referred to reviewing ways to utilize the down town Cairo's 'ministries' square' while preserving its architectural nature and heritage. He said that the area, which used to house the government's headquarters, will be offered for re-utilization in June. (MENA)
M N E/R E E
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Middle East
3 hours ago
- Middle East
OPEN// President Sisi orders acceleration of logistics projects
CAIRO, July 27 (MENA) - President Abdel Fattah El Sisi directed the government to continue efforts aimed at accelerating the implementation of all projects in line with pre-set timeframes including Integrated Developmental Logistics Corridor projects that connect production areas to seaports currently under development. The ports are to be transformed into global-level, high-capacity hubs, integrated with the modern transportation network - comprising roads, highways and railways - providing the necessary components to position Egypt as a global center for trade and logistics. During a meeting Sunday with prime Minister Mostafa Madbouli, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry Kamel el-Wazir and General Advisor to the President for Financial Affairs Ahmed el-Shazly, President Sisi was briefed on progress of projects carried out under the Ministry of Transport and Industry, especially ventures related to the railway system, including Arish–Taba railway line and the completion of the Bir al-Abd–Arish railway project - expected to contribute to the development of the Sinai Peninsula and create a logistical corridor linking the Red Sea to the Mediterranean. Presidential Spokesman Mohamed el-Shenawy said, the meeting also covered updates on the development of seaports, given their central role in the country's development programs. In this context, the implementation progress of construction, development and upgrading of several ports was reviewed, including Ras Sedr, Gargoub, Abu Qir, the Grand Port of Alexandria, the new El-Max Port, the expansion of Ain Sokhna Port, the construction of Taba Port and development projects at Damietta Port. The spokesman added that the meeting also took up progress achieved in the fourth metro line in Cairo and the high-speed electric train project. It further discussed efforts to develop industrial zones in Wadi El-Sirriya and El-Motahhara in Minya Governorate and northern Fayoum in Fayoum Governorate. All efforts are part of broader initiatives to promote industrial development in Upper Egypt and create more job opportunities for citizens, mainly in labor-intensive industries including, textiles, ready-made garments and weaving, according to the spokesman. (MENA) S A S/M O H
See - Sada Elbalad
5 hours ago
- See - Sada Elbalad
Egypt's Telecom Regulator: 650,000 Mobile Phones Entered Duty-Free with Passengers in 2025
Taarek Refaat Egypt's National Telecommunications Regulatory Authority (NTRA) confirmed on Sunday that over 650,000 mobile phones have entered the country duty-free alongside travelers since the beginning of the year, under the country's mobile device governance system. The authority clarified that the exemption, allowing one mobile device per traveler to enter the country without customs duties, remains in effect as part of the ongoing pilot phase of a broader telecommunications oversight framework. In an official statement, the NTRA denied social media rumors claiming that previously exempted phones would be retroactively taxed or disabled. 'These claims are unfounded,' the statement read. However, the regulator acknowledged detecting abuse of the exemption policy, revealing that approximately 60,000 devices have had their mobile network access suspended pending further investigation. Through a systematic review of the exemption program, the NTRA uncovered 13,000 devices that had illegally benefited from the duty-free rule in violation of regulatory guidelines. These devices remain blocked as of now. Conversely, around 47,000 suspended phones were found to be legitimately exempt and have since been reactivated after verification procedures. Egypt introduced the exemption policy as part of a national framework to regulate and monitor mobile device imports, reduce smuggling, and ensure fair taxation. The initiative is also designed to curb the proliferation of unregistered devices on local telecom networks. The NTRA emphasized its commitment to periodic audits and enforcement, warning against fraudulent attempts to exploit the system. Further technological upgrades and automated checks are expected as the program moves toward full implementation. Mobile phones (File photo) read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
See - Sada Elbalad
a day ago
- See - Sada Elbalad
Egypt Marks Suez Canal 69th Nationalization Anniversary.. Reaffirms Commitment to Global Supply Chain Sustainability
Taarek Refaat Osama Rabie, Chairman of the Suez Canal Authority (SCA) reaffirmed the canal's strategic role in global trade and its commitment to sustainable and secure navigation, as Egypt marks the 69th anniversary of the nationalization of the Suez Canal. In remarks delivered during a commemorative ceremony, Rabie highlighted the canal's ongoing adherence to international conventions governing free maritime navigation, while underscoring Egypt's unwavering sovereignty over the waterway. 'We are committed to upholding our pivotal role in ensuring sustainability across global supply chains, and we operate in accordance with international charters and treaties, without compromising Egyptian sovereignty,' Rabie stated. The Suez Canal was nationalized on July 26, 1956, a landmark moment in Egypt's modern history that asserted national control over one of the world's most vital maritime corridors. Rabie praised the generations of Egyptian leaders and workers who have managed and modernized the canal since that time. 'We salute the pioneers who led the nationalization and laid the foundations of development. We continue their mission with more dedication and achievement,' he said. The SCA chief noted that canal operations are governed by a robust legal framework, particularly the Navigation Regulations and the 1888 Constantinople Convention, which guarantees freedom of navigation through the canal for all vessels in both peace and wartime. Under Egypt's stewardship, the canal has seen continuous upgrades to maintain its status as the shortest, fastest, and safest maritime route between East and West. Rabie pointed to recent development projects that have enhanced the canal's capacity, navigational safety, and competitiveness. Rabie also extended his gratitude to all SCA personnel and canal pilots, relaying personal appreciation from President Abdel Fattah el-Sisi. He emphasized the professionalism of the canal's pilots, describing them as exemplary ambassadors of Egypt. 'Our pilots have consistently risen to the challenge, demonstrating exceptional dedication under all circumstances. Their professionalism ensures the safety and sustainability of navigation through the canal,' he added. As global shipping continues to face mounting challenges, from geopolitical disruptions to climate-related vulnerabilities, the Suez Canal remains a critical artery for international trade, handling over 12% of global commerce annually. Egypt's reaffirmation of its commitment to international maritime norms, coupled with continued investment in canal infrastructure, is seen as a signal to global partners that the Suez Canal will remain a reliable, neutral, and efficient trade route in an increasingly complex world. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
