Cairo: Prime Minister Moustafa Madbouly announced that the government is preparing to temporarily list 10 petroleum sector companies on the Egyptian stock exchange. This move is part of broader efforts to boost competitiveness, attract investment, and enhance private sector participation in the economy.

According to State Information Service Egypt, the Prime Minister's announcement came during a meeting focused on reviewing the petroleum ministry's IPO strategy. The meeting was attended by the petroleum minister, Karim Badawi, and other officials. Madbouly emphasized that the initiative aligns with the state ownership policy and Egypt Vision 2030, both of which aim to bolster the private sector's role in the national economy.

Petroleum Minister Karim Badawi highlighted that the plan targets financially robust companies that can attract foreign investors. He noted that the temporary listing is expected to enhance governance, offer diversified financing tools, and support expansion efforts without relying on state funds.

Officials revealed that several companies have already been temporarily listed with encouraging market feedback. The government has agreed to proceed with listing 10 companies and has established a clear timeline to complete this process.