Egypt signals private investment in military companies

05 November 2019

For the first time, Egyptian President Abdel Fattah el-Sisi has said that military-owned industrial organisations could be included in the country’s privatisation programme, according to national news agency MENA.

Speaking on 31 October while opening two military-owned chemical plants in Abu Rawash, el-Sisi remarked that military companies should be listed on the Egyptian Exchange (EGX) (split between Alexandria and Cairo), or opened to foreign investment.

“Offerings being prepared by the Egyptian state should include … the armed forces companies,” MENA and other Egyptian media quoted el-Sisi as saying. “In this way we will have opened a door for the Egyptian people and society.”

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