The Minister of Public Business Sector, Engineer Mahmoud Esmat, convened a larger meeting with the CEOs of the subsidiaries and holding firms that are under his ministry’s purview.
The Minister stressed the importance of working to improve operating economies, maximise profits and revenues achieved, and strengthen partnerships with the private sector during the meeting. This was especially important in light of the state’s royal policy document, which recognises the importance of the private sector and the need for integration to achieve economic development.
Engineer Mahmoud Esmat also gave instructions to the departments of the companies to create plans for a variety of projects that include clear objectives, thorough market research, and effective marketing and sales strategies. He emphasised the need to make greater efforts to localise manufacturing, boost the value of the companies’ exports to other countries, and improve the competitiveness of their products.
“Esmat” placed a strong emphasis on rationalising spending, encouraging expense governance, committing to implementing maintenance programmes in subsidiary companies, allowing owners of new ideas within companies that improve performance and achieve company benefits, and inspiring employees to be innovative and creative.
The Minister of Public Business Sector referred to the revisions made to the human resources guidelines with the intention of upholding workers’ rights and avoiding harming their entitlements, and he or she added that ongoing discussions and coordination are being held with the various authorities involved in this regard for the creation of a list that strikes a balance between the interests of businesses and employees, provided that it is done in accordance with the law.
Engineer Mahmoud Esmat also emphasised the Ministry’s interest in training employees to improve their skills and increase their efficiency, noting the organisation of training courses through the public business sector information centre in addition to communicating with a number of scientific and research authorities in this regard, stressing the detrimental interest in the sector Research and development in companies and keep pace with global development.
The executive members of the enterprises presented their goals and ideas to Engineer Mahmoud Esmat, Minister of Public Business Sector, who also listened to them on a variety of subjects and work files.
Holding corporations are given instructions by the Minister of Business Sector to strengthen their collaboration with the private sector and increase domestic manufacturing.
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