Minister of Public Business Sector Witnesses Cooperation Protocol with AAMBFS to Enhance Training and Human Capital Development

Eng. Mohamed Shimi, Minister of the Public Business Sector, witnessed the signing of a cooperation protocol between the Ministry and The Arab Academy for Management, Banking and Financial Sciences (AAMBFS). This initiative is part of the Ministry’s ongoing efforts to develop affiliated companies and enhance the competencies of their workforce, supporting the government’s plans to strengthen institutional performance and promote sustainable development.

The protocol was signed by:

• Major General Hossam Kandeel, Permanent Undersecretary of the Public Business Sector Ministry

• Dr. Amr El-Nahas, Vice President of AAMBFS for Business Development and Training

In the presence of:

• Dr. Mostafa Hodeib, President of AAMBFS

• Dr. Rasha Ragheb, First Vice President of AAMBFS

Eng. Shimi emphasized that this collaboration reflects the Ministry’s pivotal role in managing state investments in public business sector companies and its firm belief in investing in human capital as a key factor in enhancing institutional performance and competitiveness, through developing management systems and strengthening staff capacities at all levels.

He added that human capital development is fundamental to any reform or development process, highlighting the importance of this cooperation in qualifying the workforce and equipping them with modern skills and knowledge to lead the modernization and restructuring of sector companies.

Dr. Mostafa Hodeib expressed his gratitude to the Ministry, affirming that this step will positively impact employees across the Ministry and affiliated companies by leveraging the Academy’s expertise in management, finance, and banking.

Dr. Rasha Ragheb also highlighted that the cooperation will contribute to enhancing both scientific and practical competencies, opening broader opportunities for the Ministry, its companies, and employees’ families covered by the protocol.

The protocol provides extensive opportunities for workforce development through specialized training programs, as well as partial scholarships for postgraduate programs in business administration (MBA – DBA). It also includes the formation of a joint committee between the Ministry and the Academy to implement an action plan, including designing specialized training programs and organizing workshops and seminars to enhance knowledge exchange and expertise.

This protocol underscores the Ministry’s commitment to supporting institutional reform, balancing the improvement of operational efficiency in companies with investment in human capital as a cornerstone for building a sustainable and competitive future for the national economy.