Search Results for “list of state owned enterprises in egypt”

Source: List of state-owned enterprises in Egypt

In 1952 Egypt’s private sector accounted for 76 percent of economic investment. Following the nationalization plans carried out by President Gamal Abdel Nasser in the effort to build a post-independence socialist state, this percentage drastically shifted within a few decades to government investment accounting for over 80 percent of economic investment. This figure included all banking, insurance, foreign trade, medium and heavy industry air transport, and public utilities, as well as many retail stores, newspapers, maritime transport, construction companies, and large infrastructure assets.
By the late 1970s, president Sadat shifted Egypt to the Infitah, or an 'open door' liberal policy. However, despite a number of rounds of privatisation stipulated by the IMF and World Bank Economic Reform and Structural Adjustment Program (ERSAP) in the 1990s, that saw over 400 companies privatized, by 2015 there were 52 economic authorities, 102 service authorities, and 146 state-owned enterprises that were affiliated with nine holding companies. 30 Service authorities depend on recapitalization or operate on a subsidized business model. SOEs either are under specific ministries or are companies wholly or majority controlled by the state and operating under the authority of line ministries. These are mainly companies considered “strategic" in sectors such as electricity, aviation, banks, housing, petroleum, agriculture, textile, chemical industry, mining industry, transport, construction, tourism, pharmaceutical, and food processing holdings.
The following is a list of key state-owned enterprises in Egypt, and a number of their subsidiaries.