Highlights from MP Mohamed Abou El-Enein, Deputy Speaker of the House of Representatives:
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I commend the Parliament Speaker’s statement on the regional situation.
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The State Ownership Law is a necessary step, but implementation remains the real challenge.
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The law sends a positive message to investors, counters skepticism, and supports the private sector.
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We must engage global stock exchanges to promote Egypt’s strategic development projects.
MP Mohamed Abou El-Enein, Deputy Speaker of the House of Representatives, praised the statement delivered by Speaker Hanafy Gebaly on Egypt’s position regarding the latest regional developments — most notably the Israeli aggression against Iran.
Speaking during the plenary session, Abou El-Enein announced that Egypt is set to assume the presidency of the Parliamentary Assembly of the Mediterranean (PAM) in the coming period, and emphasized that the Parliament Speaker’s statement will serve as a foundational reference in outlining Egypt’s stance on regional developments and reaffirming its unwavering support for the Palestinian cause.
Committee Report
In a related context, the Deputy Speaker endorsed the Economic Committee’s report on the draft law submitted by the government regarding the regulation of certain provisions related to state ownership in public and partially-owned companies.
He further noted that he is scheduled to visit China in the coming days to take part in a major economic forum, adding that China’s hosting of the event is an open invitation to investors and the business community.
Abou El-Enein stressed that the success of the State Ownership Law will depend not only on legislation but on effective implementation. He pointed out that previous efforts had yielded limited results, and that significant financial resources are available, but governance remains the core issue that must be addressed by the government.
International Stock Markets
He added that Egypt must position itself in global stock markets to better promote its vital development projects and emphasized the importance of facilitating access for small investors, particularly Egyptian expatriates.
In conclusion, Abou El-Enein reaffirmed that the proposed law is vital for reducing the financial burden on the state, sends a strong signal to global investors, counters false narratives questioning the state’s development efforts, and promotes greater participation by the private sector in driving the national economy forward.
