CAIRO: Sources revealed that Egypt's government intends to activate investments, issue laws that support investments and free zones, develop non-banking financial services and implement an inclusive program that manages state-owned assets and investments. Controversy has recently risen concerning privatizing more companies during the next stage, especially since the Ministry's main objective when it was established was to support privatization. Sources clarified that the ministry will add four main authorities including the General Authority of Investment, the Free Zone, the Public Authority for Capital Market, and the Higher Council of Insurance. Employees of the different sectors started collecting the files that will pave the way of restoring the Ministry of Investment. They ruled out expanding on privatization, clarifying that the main objective of the Ministry is to support investments and to activate projects of partnership between the public and private sectors. Egypt's former President, Hosni Mubarak, decided to establish the Ministry of Investment in order to support investments and remove any obstacles, while developing Egypt's economy. The Ministry now also aims to increase opportunities of local and foreign investments in Egypt and implement privatization to turn companies of the public sector to the private sector.
