Public Enterprises, Awqaf Ministers Discuss Boosting Cooperation To Enhance Asset Utilisation

(MENAFN- Daily News Egypt) Mohamed El-Shimy, Minister of the Public Enterprises Sector, received Osama Al-Azhari, Minister of Awqaf, and an accompanying delegation at the ministry's headquarters in the New Capital, as part of efforts to strengthen cooperation between the two ministries and support the state's drive to maximise the utilisation of state-owned assets.

According to a statement, the meeting aligns with broader efforts to achieve the highest possible economic and developmental returns from public assets, in line with Egypt's comprehensive development plans and Vision 2030.

The discussions reviewed several areas of joint cooperation, including mechanisms for reviving and investing in selected assets of historical and investment value, and enhancing their utilisation in accordance with sustainable economic principles. Such steps are expected to support the tourism and hospitality sectors, strengthen their contribution to the national economy, and preserve the civilisational and historical character of these assets.

El-Shimy stressed the shared commitment of both ministries to expanding cooperation in a manner that serves the national interest and aligns with the state's direction towards sound management and optimal use of its assets.

He noted that companies affiliated with the Public Enterprises Sector possess significant manufacturing, production and service capabilities, as well as accumulated expertise that enables them to efficiently implement joint projects. The minister affirmed his ministry's readiness to provide the necessary technical and administrative support and to develop appropriate investment models to ensure the success of cooperative projects with the Ministry of Awqaf and maximise returns from the assets under consideration.

For his part, Al-Azhari highlighted the importance of cooperation in investing in selected assets belonging to the Awqaf Authority that hold historical and civilisational significance.

At the conclusion of the meeting, both sides reaffirmed their commitment to continued coordination and consultation in the coming period, alongside the establishment of clear implementation mechanisms and defined timelines to translate agreed points into tangible projects that support comprehensive development plans and enhance the optimal utilisation of state assets for the benefit of the national economy and society at large.

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