Friday, 20 Apr 2018

Minister of the business sector: We are negotiating with international companies to develop “iron and steel”

Minister of Business Sector Khalid Badawi said that the aim of the shares of a number of subsidiaries in the stock exchange is to expand the ownership base, activate the stock exchange, increase market capitalization, value and volume of trading, achieve greater transparency and governance in the management of these companies. Financing the restructuring process, which represents the first stages in the application of the principle of separation of ownership from management to become companies in a strong position for competition and success. The Minister listened to the views and suggestions of the members of the Economic Committee of the Parliament on the development of the companies affiliated to the Ministry of Public Enterprise Sector, and responded to a number of queries, stressing that the ministry’s plan is based on developing radical solutions to the problems and challenges facing companies in a number of companies whose industries have a competitive advantage Such as textiles, iron, steel, fertilizers and automotive components. He pointed out that there are negotiations with international companies for partnership in the development of these sectors. In response to a question from a member of the House of Representatives on the pharmaceutical companies of the ministry, the minister said that the ministry is not seeking to get rid of those companies, but to develop and increase market share.

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