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Thursday, 26 December 2019

Egypt’s El Sisi revives talks about listing military companies

El Sisi signals that military companies on the EGX more than just an idea: Military-owned companies and assets will be listed on the EGX, President Abdel Fattah El Sisi said yesterday, bringing up the idea for the second time in less than two months. Military-owned companies going public would ensure the participation of all sectors of the economy, El Sisi said while speaking at the inauguration of a project to set up a livestock farm in Fayoum. The president said many investments by military-owned companies, including large infrastructure developments, are already open to private sector participation.

Background: The prospect of selling shares in military-owned companies was first brought up by the president in November. El Sisi stressed at the time that the army doesn’t undertake projects at the expense of the private sector and noted that the military and civilian businesses are actively working together on a series of strategic initiatives.

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