Tenders aim to attain best revenues for state: PM Madbouly

MENA , Ahram Online , Monday 24 Oct 2022

Prime Minister Mostafa Madbouly affirmed on monday that tender offers aim to get the best financial revenues for the State and maximise the value of its assets.



Bidders can be citizens or private sector partners who will enjoy a chance work with the state to increase the efficiency and success of state-owned asset management, added Madbouly during a session, under the theme "Role of Sovereign Fund of Egypt and Ways of Partnership with the Private Sector" as part of the activities on day two of the Economic Conference.

Tenders are governed by certain rules and conditions in the money market and the stock exchange, he said.

Investment banks help the government and advise the state to choose the appropriate timing for any bids, he explained.

Egypt faced exceptional conditions three years ago as of 2020, starting with the Covid-19 pandemic and its repercussions for the global bourses, in general, and the Egyptian bourse, in particular, added the premier.

Madbouly also pointed out that the process of selecting and transferring the ownership of a group of profitable public sector companies in all sectors to the Sovereign Fund of Egypt is being studied.

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