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Plan to exploit public companies’ unused assets: Minister of Investment - Daily News Egypt

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Plan to exploit public companies’ unused assets: Minister of Investment

The plan includes benefiting from all the assets, and selling unsold and slow-moving storage, according to Salman

Minister of Investment Ashraf Salman demanded that leaders of public companies to create a plan for making use of the sector’s unused assets, amid the ministry’s efforts to maximise the return on these assets.

According to Salman, the plan will include a first phase, in which suggestions and alternatives will be received from the heads of these companies. This will be followed by discussing these alternatives with the members of the committee responsible for managing assets at the Ministry of Investment.

He said the ministry is working on putting for a clear framework for the public business sector companies in line with the developmental goals, which include increasing the added value for business owners and increasing the sector’s contribution to the gross domestic product (GDP).

According to a statement from the Ministry of Investment, Monday evening, after meeting with leaders of the public business sector, Salman said: “We have eight holding companies, with 125 subsidiaries in different sectors.”

He added that the preparing and sending of monthly follow-up reports by the companies is one of the most important criteria for evaluating their performance, in addition to their ability to create, find solutions, and draw future plans and implement and develop them in accordance with surrounding developments.

Salman stressed that the development plan should allow for the use of all company assets, and that a plan must be put in place to sell unsold and slow-moving storage, in order to raise the growth and employment rates in the companies, which operate in various fields, including strategic industries and commodities.

According to Salman, the Leadership and Management Development Centre affiliated to the ministry carried out 118 training programmes for 3,019 trainees. The training days offered by the centre amounted to 1,774 training days for various public and private business organisations.

The centre also carried out six consultancy operations in the fields of strategic planning, marketing, organisational restructuring and feasibility studies.

Chairman of the centre Ashraf Ibrahim said that the total value of contracts the centre signed with its clients in fiscal year 2014/2015 amounted to approximately EGP 17m, compared to EGP 7m in the previous year (2013/2014). He added that the centre has begun offering some graduate programmes in Ismailia in coordination with the Suez Canal Authority.

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