Government puts 20 Egyptian companies on the stock exchange

The government puts 20 Egyptian companies on the stock exchange

 Dr. Mostafa Madbouly, Prime Minister, confirmed that 20 companies will be listed on the stock exchange.

Madbouly said that this step aims to expand the base of citizen participation in the ownership of public institutions.

 Corporate restructuring

 This step also aims to restructure companies and expand large production lines, thus increasing capital.

 Dr. Mostafa Madbouly explained, during his speech at a press conference, that the next stage will witness approvals for the issuance of a larger number of golden licenses to encourage the private sector at this stage to expedite the implementation of all development projects in areas worthy of these licenses.

The Prime Minister called on project owners and private sector men to present themselves to the committee specialized in issuing golden licenses within the Council of Ministers, which meets weekly to discuss these procedures.

 Empowering the private sector

  The aim of these measures is to enable the private sector at this stage to expand and increase activities to create new job opportunities that serve citizens.

Golden license form

 Madbouly also reviewed the form of the golden license, which appeared in the form of a smart card equipped with a QR code on which all the data related to this license are recorded.

 He emphasized that it is a very important step for me at this time.

Real estate development

During his speech, the Prime Minister referred to the challenge facing the real estate sector in light of the high prices of building materials and supplies, and even the scarcity of some of them.

To facilitate matters for the real estate sector, Madbouly held several meetings with officials and representatives of the real estate development sector, during which they identified a number of proposals and demands.

  In coordination with the Minister of Housing, the Board of Directors of the New Urban Communities Authority held a meeting yesterday and issued important decisions to support this sector.

He pointed out that one of the most important of these decisions is extending the time periods for real estate development projects by an additional 20% of the same total period that exists, with carrying over the installments due from the developer to the same periods. This is in order to work to reduce the great pressure on them.