{"id":546426,"date":"2022-05-16T04:00:48","date_gmt":"2022-05-16T04:00:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/madbouly-presser-on-economy-dominates-the-talk-shows\/"},"modified":"2022-05-16T04:00:48","modified_gmt":"2022-05-16T04:00:48","slug":"madbouly-presser-on-economy-dominates-the-talk-shows","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/madbouly-presser-on-economy-dominates-the-talk-shows\/","title":{"rendered":"Madbouly presser on economy dominates the talk shows"},"content":{"rendered":"

Prime Minister Moustafa Madbouly\u2019s epic presser yesterday was all over the <\/strong>airwaves last night:<\/strong> Business leaders gave their reactions to the state\u2019s strategy to raise private investment and sell-off state assets (covered in depth in this morning\u2019s news well, above), while Planning Minister Hala El Said appeared to answer questions on the plans. Kelma Akhira\u2019s Lamees El Hadidi led the coverage, calling the announcement a \u201cdramatic strategic shift\u201d in the country\u2019s economic policies towards the private sector (watch, runtime: 20:09<\/a>).<\/p>\n

BUSINESS REAX: The overall sentiment among industry leaders last night was positive. <\/strong>Mohamed El Sewedy, head of the Federation of Egyptian Industries (FEI), told Kelma Akhira\u2019s Lamees El Hadidi that the plan is an \u201cimportant first step and the beginning of self accountability\u201d (watch, runtime: 12:04<\/a>). Mohamed El Damaty, vice chairman of cheese maker Domty, also shared his optimism over the state\u2019s ambitious privatization targets with El Hadidi (watch, runtime: 7:00<\/a>), while Sherif El Gebaly, the chairman of the Egyptian Chamber of Chemical Industries, praised the measures to support industry (watch, runtime: 8:08<\/a>).<\/p>\n

But questions of implementation abound:<\/strong> Elsewedy said that implementing all the measures will prove a \u201cchallenge\u201d while El Gebaly wondered how achievable the government\u2019s export targets are. The goal to raise exports to USD 100 bn a year in the next four years is \u201cnot easy, yet not impossible,\u201d he said, calling for \u201cout of the box\u201d ideas such as establishing Egyptian companies in African nations and overseas logistics centers (watch, runtime: 1:49<\/a>).<\/p>\n

A WORD FROM THE PLANNING MINISTER: <\/strong>The government wanted to say that \u201cit\u2019s open to the private sector\u201d through the plan, Planning Minister Hala El Said told El Hadidi (watch, runtime: 9:42<\/a>). She responded to worries by key industry players on implementation, saying that the government has worked with the private sector to outline details on the plan through working groups. \u201cMost details have been finalized, with only 20-25% of details left,\u201d she said.<\/p>\n

We\u2019ll have more details in a few weeks:<\/strong> A state ownership policy document that makes clear where the private sector will be welcomed will be issued \u201cin the next few weeks\u201d, El Said said. The document would provide clear guidelines on which projects would be handled by the private sector, the public sector, or both, she said. Vital sectors \u201cthat directly affect citizens\u201d would still be handled by the state solely, she said.<\/p>\n

On the status of IMF talks:<\/strong> We still don\u2019t have a figure for the assistance we\u2019re seeking for the IMF, El Said said, refuting that outlining a plan to include the private sector came upon a request by the Fund in exchange of aid. A new structural reform program, which aims to diversify the economy to protect against external shocks, came way before talks with the IMF, she said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Prime Minister Moustafa Madbouly\u2019s epic presser yesterday was all over the airwaves last night: Business leaders gave their reactions to the state\u2019s strategy to raise private investment and sell-off state assets (covered in depth in this morning\u2019s news well, above), while Planning Minister Hala El Said appeared to answer questions on the plans. Kelma Akhira\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7232],"tags":[104,72,727,272,106,281,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546426","post","type-post","status-publish","format-standard","hentry","category-last-nights-talk-shows","tag-economy","tag-enterpriseam","tag-hala-el-said","tag-imf","tag-last-nights-talk-shows","tag-moustafa-madbouly","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"6658efb4-3969-446b-9abd-7fbfdf8742e2","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[546406],"teaser":"","voice_url":""},"yoast_head":"\nMadbouly presser on economy dominates the talk shows - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/16\/madbouly-presser-on-economy-dominates-the-talk-shows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Madbouly presser on economy dominates the talk shows\" \/>\n<meta property=\"og:description\" content=\"Prime Minister Moustafa Madbouly\u2019s epic presser yesterday was all over the airwaves last night: Business leaders gave their reactions to the state\u2019s strategy to raise private investment and sell-off state assets (covered in depth in this morning\u2019s news well, above), while Planning Minister Hala El Said appeared to answer questions on the plans. 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