Egypt sells state-owned companies worth 1.9 bln USD to private sector: PM

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Egypt sells state-owned companies worth 1.9 bln USD to private sector: PM

STORY: Egypt sells state-owned companies worth 1.9 bln USD to private sector: PM DATELINE: July 12, 2023 LENGTH: 00:02:02 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the exterior of the Egyptian Cabinet 2. Egypt's PM Mostafa Madbouly speaking 3. various of the Egypt's Stock Exchange headquarters in Cairo STORYLINE: The Egyptian Prime Minister Mostafa Madbouly said on Tuesday that the government has so far signed contracts worth 1.9 billion U.S. dollars with the private sector to sell stakes in state-owned companies. The government will soon announce another batch of deals worth 1 billion dollars, Madbouly said during a press conference in Egypt's New Administrative Capital just outside Cairo. The selling of the state-owned entities is part of an Egyptian program launched by the government in January. Madbouly said that most of the companies were sold to the private sector in a bid to boost the country's private sector. He added that the state would completely exit some sectors in favor of

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