Sisi suggests floating Egypt military firms on stock exchange

Egyptian President Abdel Fattah al-Sisi suggested yesterday listing military-owned companies on the stock exchange, along with other state-run firms and assets. “There must be an opportunity for the armed forces’ companies. They must enter the stock market and there should be a chance for Egyptians to buy their shares,” Sisi said in televised remarks.

The president was attending the inauguration of two army-owned and operated chemical plants outside Cairo, flanked by the defence minister and the central bank governor. He noted that his government has been working on floating state companies and assets for the last three years.

“It is important for Egyptians to know that the armed forces have taken on this (economic) role, not to the detriment of the private sector,” he said. He emphasised that the “private sector is welcome to participate” in army-run projects.