Egypt is set to privatize up to four military-owned companies as part of its broader economic reform agenda. The move is aimed at attracting foreign investment and boosting the country’s economy.
The decision comes as Egypt seeks to implement the recommendations of the International Monetary Fund (IMF), which has provided financial support to the country. The IMF has urged Egypt to accelerate its privatization program and reduce the state’s role in the economy.
The specific companies to be privatized have not yet been disclosed, but the government has indicated that they will be from various sectors, including banking, industry, pharmaceuticals, and investment.
This move is expected to generate significant revenue for the government and contribute to economic growth. However, it also raises concerns about transparency and accountability, particularly regarding the valuation and sale of state assets.