Egypt’s new privatization strategy underway
The Egyptian government has recently prepared a new privatization scheme in an effort to compensate for economic losses incurred since the September 11 attacks in the United States. A senior official source stated that the government anticipates a decrease in foreign investment into Egyptian private companies in 2002, Al-Hayat erported .
The new economic strategy focuses on attracting local and regional investments as well as transferring the management of the public companies to the private sector as a pre-privatization step. The new plan also offers various incentives to investors such as tax exemptions, and covering previous debts. In addition, the new strategy aims to improve the performance of public companies that are not for sale at the present time. — (menareport.com)
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