A shot in the arm for private sector participation in the economy? The government is preparing a strategy to enhance the role of the private sector in development, Prime Minister Moustafa Madbouly said last week, according to a cabinet statement.

Expect the details “soon”: The statement says little about what the strategy might entail, saying only that Madbouly is circulating a document to his ministers to review ahead of an upcoming meeting with private sector players. The details of the plan will be announced soon, Madbouly said.

The strategy could tackle the perception that there has been a “crowding out”: The planned strategy comes on the heels of a recent study reviewed by cabinet’s economic group, meant to guide the government as it looks to strengthen private sector participation in national projects. Based on the study, cabinet has already committed to a review every two years of which state-owned enterprises it needs to keep in the government’s portfolio as well as to an annual consultation with private business on the state of play. Ministers are also looking into the possible setup of a body that will “supervise and manage” the companies of which the state retains ownership.

ALSO APPROVED LAST WEEK-

• Tourism industry regulation: A draft law aimed at reorganizing the structure and electoral system of the Egyptian Tourism Federation and other tourism-related unions and bodies.
• Establishing Helwan National University and Al Mansoura National University as part of the state’s push to build more nonprofit universities in partnership with international and private universities.
• An increase to African Development Bank’s callable capital through the issuance of temporary shares.
• A government committee recommendation to regularize the status of 141 churches and their affiliated buildings, bringing the total number of regularized church buildings to some 2.2k properties.