The State-Owned Enterprises Unit, affiliated with the Cabinet, signed a Cooperation Protocol with E-Finance for digital operations. The agreement aims to leverage the company's secure infrastructure to fulfill the technical and operational requirements of artificial intelligence applications for the "Rashid" system, which houses the database of state-owned and state-contributed companies. This initiative is part of the state's efforts toward digital transformation and the modernization of the administrative apparatus's technological infrastructure.
The protocol was signed by Dr. Hashem El-Sayed, Assistant to the Prime Minister and CEO of the State-Owned Enterprises Unit, and Hossam Hanafi Mahmoud El-Gouli, Managing Director and Board Member of E-Finance.
The Cooperation Protocol aims to strengthen reliance on secure digital solutions for operating vital government systems and protecting their data. This, in turn, enhances the efficiency of managing the portfolio of state-owned companies and improves the quality and reliability of the data that supports decision-making.
Under the Protocol, E-Finance will provide secure infrastructure services accredited by regulatory authorities and international organizations, ensuring operational stability and data protection in accordance with the highest standards.
Assistant to the Prime Minister and CEO of the State-Owned Enterprises Unit
Dr. Hashem El-Sayed explained that, according to Law No. 170 of 2025, the State-Owned Enterprises Unit is responsible for cataloging and classifying state-owned companies, supporting decision-making related to portfolio management, and implementing the State Ownership Policy Document. In this context, the unit developed the "Rashid" system, a national platform for cataloging and classifying state-owned or state-contributed companies.
El-Sayed added that "Rashid" is an integrated AI-based platform designed to catalog, analyze, and monitor the financial and operational performance of these companies. It links this information to governance requirements and ownership policies, thereby providing decision-makers with an advanced tool built on accurate data.
El-Sayed further explained that the protocol addresses one of the primary challenges encountered during the actual operation of the system in its production environment-specifically, the need for a comprehensive technical infrastructure capable of supporting AI applications. This infrastructure includes hosting servers, secure storage, and computing resources essential for AI applications, ensuring both operational efficiency and data security.
Source: Al-Ahram Newspaper Online Portal
