Egypt: Dimensions of Privatization of Army Ventures

Source: Egyptian Institute for Studies

Author(s): Ahmed Zikrallah

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Abdel Fattah al-Sisi’s call for listing companies affiliated with Egypt’s armed forces on the stock exchange along with other state-run firms and assets in the coming period was not surprising to me.

On Thursday, October 31, 2019 during the inauguration of two new army-owned and operated chemical plants in Giza Governorate, west of Cairo, Sisi suggested that military companies should be listed on the stock exchange in the coming period. “The government has been working on floating state companies and assets for the last three years. There must be an opportunity for the armed forces’ companies. They must enter the stock market and there should be a chance for Egyptians to buy their shares,” Sisi said. He also emphasized that the “private sector is welcome to participate” in army-run projects, citing the greenhouse projects as an example.

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