Mohamed Shemi, Minister of Public Business Sector met a delegation from the World Bank Group in the presence of "Ed Mountfield" Vice President for Country Operations and Services Policy at the World Bank to discuss enhancing joint cooperation.
During the meeting, a number of joint cooperation files were discussed, including structuring, development, environmental compatibility, employment training, partnership projects with the private sector, structuring and governance rules, in the presence of Stefan Jembert, Regional Director of the World Bank for Egypt, Yemen and Djibouti, Nader Mohammed, Regional Director for Fair Growth, Finance and Institutions at the World Bank, Mohamed Hassouna, Advisor to the Minister for Investment and Restructuring, and Omar's Assistant Minister for Project Development.
Shimi welcomed the World Bank delegation, praising the fruitful cooperation between Egypt and the Bank, explaining that a comprehensive strategy has been developed to develop the performance of subsidiaries and maximize the returns of assets supported by executive work plans in light of Egypt's Vision 2030, the government's work program and the state ownership policy document, and within the framework of the keenness to encourage and attract the foreign and local private sector and target to increase its investments and enhance its role in development efforts.
He pointed out that there is periodic follow-up by the Ministry to implement this strategy and work to strengthen governance, disclosure and transparency levels of companies and achieve sustainability standards.
He stressed that the good management and exploitation of assets and the maximization of their returns is a major goal, pointing to welcoming and full openness of cooperation and partnership with the private sector in many projects and sectors, as well as the great interest in training workers and investing in human capital, applying the enterprise resource planning system "ERP", achieving environmental compatibility and moving towards a green economy in a number of projects such as the construction of a solar station in the aluminum complex in Nag Hammadi to provide it with clean energy, and the production of green ammonia with the participation of the private sector.
On its part, the World Bank delegation praised the efforts and reform measures carried out by the Ministry of Public Business Sector to develop its subsidiaries and enhance the role of the private sector, praising also the amendments to Law 203 for the public business sector and the better climate it provides to apply the standards of governance and good management.
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