Egypt’s Deputy Prime Minister and state auditor discuss mechanisms to boost state-owned enterprise performance

Egypt’s Deputy Prime Minister for Economic Affairs Hussein Issa and Central Auditing Organisation head Mohamed Al-Faisal Youssef discussed mechanisms to improve the operational and financial performance of state-owned enterprises through enhanced governance and restructuring plans. The meeting, attended by Assistant to the Prime Minister and Chief Executive Officer of the State-Owned Enterprises Unit Hashem El-Sayed, focused on developing the government’s monitoring and performance evaluation systems to raise institutional and financial efficiency. The officials emphasised the importance of applying governance best practices and raising management efficiency to maximise the utilisation of state assets. They noted this approach aims to enable state-owned companies to achieve their economic and developmental goals in accordance with principles of transparency and integrity. Issa stated that enhancing governance is a primary pillar for developing the performance of state-owned companies and achieving the optimal use of resources to maximise returns. He highlighted the Central Auditing Organisation’s role as a foundation of financial control and performance evaluation, stressing the government’s intent to enhance institutional cooperation between executive and supervisory bodies to support economic and administrative reform. For his part, Youssef affirmed the organisation’s commitment to continuous cooperation with state institutions to consolidate principles of governance and transparency. He noted the importance of integration between state bodies in supporting the reform process and achieving the optimal use of public resources. El-Sayed added that corporate governance is a basic pillar of the institutional reform system. He stated that the State-Owned Enterprises Unit is currently implementing an integrated programme to inventory, classify, and govern companies to develop their management mechanisms, improve performance efficiency, and maximise the return on their assets.  The post Egypt’s Deputy Prime Minister and state auditor discuss mechanisms to boost state-owned enterprise performance first appeared on Dailynewsegypt.