Cairo: Minister of Public Business Sector Mohamed Shimi highlighted Egypt’s growing regional and international role under the leadership of President Abdel Fattah El Sisi, particularly in Arab, Middle Eastern, African, and global economic blocs, noting that this offers a significant opportunity for the expansion of Egyptian exports. He emphasized that public sector enterprises would be the primary beneficiaries of this momentum.
According to State Information Service Egypt, this announcement came during a meeting between the minister and leading media figures, including board chairmen and editors-in-chief of Egypt’s national newspapers and the Middle East News Agency (MENA), at the headquarters of the National Press Authority (NPA). NPA Chairman Abdel Sadeq el Shorbagi attended the meeting alongside several senior officials.
Shimi discussed a comprehensive revival of Egypt’s public business sector, focusing on modern technology and integrated development. This process is closely monitored by the president a
nd government, emphasizing modernization over liquidation. The goal is to enhance governance mechanisms, add economic value, and maximize competitive advantages.
He underscored the importance of national media in reshaping perceptions of the public sector, stating that sector development is a top priority under Egypt Vision 2030. Shimi revealed that development efforts have already boosted performance in some sectors by up to 70%, with more results expected by 2030.
Specifically, the textile and dyeing industry is undergoing full modernization, introducing new technologies and training workers. This aims to reduce import reliance, saving foreign currency for investment and development.
Shimi detailed a shift in production across affiliated companies, increasing the domestic manufacturing component. El Nasr Automotive, for example, is producing VIP buses with over 70% local content. Local tire and rim manufacturing is also being revived.
In the pharmaceutical sector, partnerships with global firms have sta
bilized the market and reduced import dependence. In tourism and construction, new hotels are being built to expand hospitality capacity in line with projected tourism growth.
Urban development projects, such as revamping the Heliopolis district and enhancing state-owned real estate, are underway. Examples include the Intercontinental Hotel in Opera Square and the redevelopment of the Omar Effendi building into a hotel, all aimed at maximizing asset value.
Other major projects include modernizing the Nag’a Hammadi Aluminum Complex to meet domestic demand and create export opportunities. KIMA Chemical Industries is expanding to support downstream industries.
Environmental governance is a priority for modernization initiatives, seeking global quality certifications for exports. The Ministry is also moving toward clean energy production in partnership with global firms.
Shimi highlighted that development is funded through sector revenues, optimized asset utilization, and foreign currency, avoiding a burden o
n the state budget. Private and international partnerships are key to financing the transformation.
Finally, the strategic importance of exports, especially to African markets, was emphasized, where Egyptian products enjoy competitive advantages.