Egypt’s Public Enterprises Minister Announces New Development Projects and Investment Opportunities

Minister of Public Enterprises, Eng. Mohamed Shimi, has revealed ongoing coordination with the Ministry of Housing and Urban Communities regarding the development of the Ras Jamila project. This strategic initiative aims to enhance investment returns and promote public-private partnerships in Egypt.

Ras Jamila Development Project

During a press conference organized by the Ministry, Minister Shimi discussed plans for Ras Jamila, an area of approximately 800,000 square meters on the Red Sea. The project will be offered for private sector participation, modeled after recent successful developments in the region to maximize investment returns.

The minister also announced the formation of an advisory committee tasked with outlining the project’s launch strategy and evaluating proposals from various developers. This initiative is under the close supervision of state officials, emphasizing the government’s commitment to this development.

Investment Focus on the North Coast

In addition to the Ras Jamila project, the Ministry is actively exploring investment opportunities in the North Coast. Currently, the Ministry owns properties in this region, including the Aura Hotel and a coastal resort. Expanding its presence here is part of a broader strategy to capitalize on the region’s tourism potential.

52 Investment Opportunities for Private Sector Partnership

Minister Shimi highlighted the Ministry’s preparation of 52 investment opportunities across various sectors for partnership with the private sector. These opportunities span the Ministry’s affiliated companies and align with the state’s ownership policies, following specific criteria to add value to company performance.

The Minister emphasized that the Ministry aims to attract more investments and partnerships through multiple mechanisms, including meetings with local and foreign investors, embassy officials, trade representatives, and participation in various local and international conferences. The Ministry is also engaging with members of the Egyptian Parliament to discuss potential opportunities.

Diverse Opportunities in Various Sectors

The Minister noted that public enterprises offer numerous opportunities across various sectors, particularly in textiles, chemicals, construction, metallurgy, tourism, and automotive industries. These projects are categorized into short, medium, and long-term development initiatives to attract private sector investment.

Enhancing Company Performance to Attract Investments

Shimi emphasized that attracting new investments and partnerships requires improving the performance of subsidiary companies, optimizing asset use, increasing production efficiency, adding value, and diversifying output.

Delta Fertilizers Study for Stock Market Listing

Minister Shimi also revealed an ongoing study to prepare Delta Fertilizers, a company that has been inactive since 2020 due to technical issues, for a potential listing on the Egyptian Stock Exchange and for forming partnerships. This move aims to revitalize the company and integrate it into the investment landscape.

Strategic Focus on Electric and Conventional Vehicles

The Ministry’s strategic plan also includes focusing on electric and conventional vehicles by developing factories and workshops to attract partnerships in this sector. The Minister noted that the initial step involves upgrading facilities before forming partnerships, along with providing various incentives. Improving the infrastructure environment is expected to attract exceptional partnerships.

Pharmaceutical Sector Development

The Minister pointed out that the cost of developing subsidiaries of the Holding Company for Pharmaceuticals has reached 2 billion EGP. To date, all affiliated factories have been operationalized, except the Seda Hormone Plant. The Holding Company for Pharmaceuticals owns nine companies, eight of which are manufacturers, while one specializes in packaging and trading.