At a time when the government intends to announce the offering program for public companies and public money contributions in a number of companies and the resumption of the program, in addition to activating the state ownership document today “Wednesday”, these measures coincide with the visits of a number of European officials to Cairo, to discuss the principle of exchange with European and Asian countries to provide the basic needs of food commodities, especially wheat and oils.
The information indicates that there is a preliminary agreement with Romania to procure and supply Egypt with its grain needs, such as wheat and edible oil, in exchange for Egyptian exports such as fertilizers and natural gas, which was the focus of the talks between the Egyptian and Romanian prime ministers. The Romanian prime minister made it clear that we are ready to meet all Egyptian grain needs. Especially since we are working to increase our imports of natural gas.
Therefore, it was not surprising that the Romanian Prime Minister confirmed, after signing the Memorandum of Understanding with Egypt in the field of natural gas, which represents a gateway to achieving broad cooperation in the energy sector. He looks forward to studying aspects of cooperation in the field of liquefied natural gas in light of the memorandum of understanding that will be signed. Romania aspires to be a strategic partner in transporting natural gas from Egypt as an energy center to eastern and central Europe
The information also indicates that the government is now counting, despite the great demand for Egyptian natural gas exports, on the possibility that the export revenues, which are estimated at about 10 billion during the current year, will be in bridging the financial gap and providing foreign currency in parallel with the resumption of the offering program on the Egyptian Stock Exchange for public companies. It aims to attract foreign investments through offered assets amounting to $15 billion, of which $6 billion is during the last quarter of the current fiscal year 2022-2023.
Especially that there are diversification processes in the selection of companies between banks and logistic companies in the field of petroleum as well as production companies. The information also indicates that there are consultations between the government through the Ministry of Planning, the Sovereign Fund and a number of Arab countries that have deposits in the central bank, for the possibility of using these deposits in Investments in a number of Egyptian sectors, where the government intends, during the offering, to allocate part of the stock exchange and the other to strategic investors through financial institutions and Arab investment funds.
The information also indicates that there are negotiations with a number of Arab countries – not to obtain deposits, but to pump more investments after the government’s commitment with the International Monetary Fund to procure more external financing to confront the financial crisis with regard to inflation and the rise in prices of goods and services, in addition to adhering to the limits of cash reserves. the alien.
source: alahalygate
