Middle East

The Minister of Business Sector reviews the plan to develop internal trade branches in cooperation with the private sector

The Minister of Public Business Sector, Dr. Mahmoud Esmat, reviewed the position of partnership projects to develop, modernize and exploit the branches of internal trade companies affiliated with the Holding Company for Tourism and Hotels.

This came during the meeting held by the Minister today with Amr Attia, the executive managing director of the company. Holding Company for Tourism and Hotels, Amal Saleh, Advisor to the Minister for Joint Companies Affairs, Mohamed Haitham Rabie, Managing Director of Sidnawi and Manufactures Sales Company, and Mahmoud Abdullah, Managing Director of the High Fashion Houses Company, to review the plans and programs of internal trade companies to improve the performance of the branches and maximize sales and revenues in partnership with the private sector to benefit from what it possesses. Administrative, financial and marketing expertise and capabilities.

The Minister also reviewed the map of the trade and interior branches, their geographical distribution and legal status, the many opportunities available for investment and partnership, the development plan in cooperation with private investment and the plan for some distinct branches, whether in terms of area or geographical location. This is to optimally exploit company branches and maximize their returns, whether owned or rented, improve commercial services provided to customers, improve display and sales methods, and diversify offerings to meet the needs and tastes of consumers. 

The minister said that this meeting comes‎‏‎ Within the framework of the development and modernization strategy that includes all affiliated sectors, and the action plan to advance the branches of internal trade “Sednawi, the sale of manufactured goods, high-end fashion houses, and Omar Effendi.” In cooperation with the private sector and partnership that achieves goals, the most important of which is the optimal exploitation of the branches within the framework of exploiting the companies’ assets and their good management and investment to maximize their returns.

He stressed that one of the most important axes of the action plan for modernization and development is achieving optimal exploitation of the assets owned by the subsidiary companies, including Branches of internal trade companies, by strengthening cooperation with the private sector and expanding the scope of partnership to develop these branches and maximize their returns and good management, especially in light of their distinguished locations and spread throughout the Republic in addition to the famous and long-established brands they own.

He explained that the state ownership policy document defined and drew the map for the affiliated internal trade sector and that the development, operation and advancement of the branches and others will be in partnership and cooperation with the private sector, as well as taking the necessary measures to qualify and raise the efficiency of the branches, improve performance and develop work systems, stressing that partnership with the private sector is an urgent necessity. To develop branches of internal trade and that there is openness to all types of partnerships and cooperation. 

‎It is noteworthy that the Sednaoui Company was founded in 1913 and was merged in 2018 into the Manufactures Sales Company, which was founded in 1932, as for the High Fashion Houses Company, which It was merged with the Benzion Company, which was founded in 1968, and the founding of the Omar Effendi Company dates back to 1856.

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  • Source of information and images “rosaelyoussef”

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