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Egyptian Cabinet to Benefit from Former Headquarters in Investment

The Egyptian government seeks to benefit from its former headquarters following the transfer of ministries into the New Administrative Capital.

Egyptian Prime Minister Mostafa Madbouly stressed the government’s keenness on continuous follow-up of the state assets and on taking necessary steps to optimize them.

The PM noted that there are reports on several assets across the Egyptian provinces, including many proposals and recommendations on exploiting these assets by issuing them for investment by the private sector to achieve more returns.

Madbouly held a meeting on Thursday to follow up on optimizing the state assets. The meeting was attended by several ministers.

Egyptian government spokesperson Nader Saad said the meeting touched on some of the assets in the provinces of Cairo and Giza that overlook the Nile River in order to optimize them by issuing them for investment.

Last month, Egyptian President Abdel Fattah Al-Sisi met with Madbouly and cabinet members at the Strategic Leadership Center in the New Administrative Capital.

The spokesman for the Presidency, Ahmed Fahmy, stated that the meeting discussed the government’s plan to relocate ministries and various state agencies and institutions to the new capital.

According to the spokesman, Sisi directed intensifying efforts to ensure the government’s move to the capital was smooth.

He noted that it could only be achieved through the modernization of buildings and premises and the qualification of workers, and providing training programs to government personnel to teach them modern methods of administration.

“These efforts, in turn, would contribute to establishing an efficient and effective administrative body,” he said.

Moreover, Saad added that the meeting pointed out that the Sovereign Fund of Egypt would start evaluating the assets which were showcased during the meeting and the buildings and lands they have.

The assessment will be based on global assessors for the sake of marketing the assets and establishing investment projects on them, especially since these lands are in unique regions on the Nile River.

Source : Awsat