Mohamed El-Shimy, Minister of the Public Enterprises Sector, announced that affiliated companies achieved exports of approximately $1bn during fiscal year 2024/2025, with sector revenues rising by around 20% year-on-year. The market capitalisation of publicly listed companies increased by 36%, surpassing set targets.
During the opening session of the seventh edition of Hapi newspaper’s annual conference, El-Shimy explained that these achievements reflect the success of the Ministry’s reform agenda, grounded in Egypt’s Vision 2030, the government’s action programme, and the State Ownership Policy Document. The comprehensive reform approach covers financial performance, institutional efficiency, governance, management practices, and human capital, with a unified performance governance framework linked to the Sustainable Development Goals to foster a diversified, knowledge-based economy.
The Minister highlighted efforts to strengthen corporate governance, sustainability, occupational health and safety, and board restructuring, complemented by a green economy strategy to transform companies into low-emission entities and boost global competitiveness. He stressed that national economic competitiveness demands optimal use of state assets, higher investment returns, and private-sector partnerships under equal rules without privileges, ensuring a fair investment climate that builds investor confidence.
Over the past decade, revenues of affiliated companies have grown by more than 360% despite a reduction in their number. In the previous fiscal year, several companies shifted from losses to profits, with progress in project execution, resolution of structural challenges, and accelerated private-sector partnerships.
Key strategic projects include the national spinning and weaving development programme, with its first phase completed in December 2024, the second underway, and full completion scheduled for mid-2026. The revival of El Nasr Automotive Manufacturing Company after over 15 years of inactivity has returned it to profitability, involving modernisation of bus and passenger vehicle plants, preparations for electric vehicle production, and production line upgrades.
In the pharmaceuticals sector, companies under the Holding Company for Pharmaceuticals upgraded approximately 97 production lines to comply with Good Manufacturing Practice standards, including the revival of El Nasr Pharmaceutical Chemicals Company and restarting idle facilities such as the Egyptian Carbon Anode Blocks Company in partnership with BP, and the ferrosilicon plant at KIMA with a Saudi investor. Partnerships encompass a solar power plant to supply Egyptalum with clean energy via Norway’s Scatec; a joint venture with US-based Dawah Pharma for manufacturing and exporting pharmaceuticals and supplements; a phosphate industrial complex at El Nasr Mining Company; and plastic and textile waste recycling projects at Misr for Artificial Silk and Polyester Stable Fibres Company with Emirati and Egyptian investors.
El-Shimy reaffirmed the Ministry’s commitment to reform, openness to private-sector partnerships, and disciplined governance of state assets to support Egypt’s sustainable economic development.