Monday, August 8, 2011

Privatization of Egyptian companies halted

The Egyptian government has decided to cancel privatization of the business sector since companies sold to private owners show serious stages of neglect. Although the government does not want to re-nationalize companies that were sold at potentially below-value prices, there is a recent movement to review the prior governmental sales contracts.

Experts believe the cancellation of privatization would negatively impact the investment climate and give a bad impression about business in Egypt
� 2011 Al Bawaba (www.albawaba.com)

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Source: http://www.albawaba.com/main-headlines/privatization-egyptian-companies-halted-384546

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