Today, Sunday, Egyptian President Abdel Fattah El-Sisi ordered the Sovereign Wealth Fund of Egypt to make optimal use of state assets and properties and to develop them in sustainable way to maximize its yield and preserve the capabilities of the current and generations future.
In a statement from the Presidency of the Republic, El-Sisi affirmed that the “Sovereign Fund of Egypt” is the ideal investment partner for the private sector, which in turn is considered an essential partner in the development process, especially through the ‘implementation by the fund of the state-owned document to improve the process of private sector participation.
This occurred during the Egyptian president’s meeting with Prime Minister Mostafa Madbouly, Major General Abbas Kamel, Chief of General Intelligence, Hala Al-Saeed, Minister of Economic Planning and Development, and Ayman Suleiman, Executive Director of the Fund ruler of Egypt.
The meeting saw the presentation of the overall activity of the “Egypt Sovereign Fund” in the last period, in how much the fund has helped, since its establishment, to attract 43% of total foreign direct investment with 14 projects and a value of around £37 billion, which focus on a number of important sectors of the Egyptian economy, in particularly hydrogen, green water desalination and education.
The Fund’s efforts to enhance government buildings and assets that will be cleared were also reviewed in view of the transfer to the New Administrative Capital, where the most important elements of attraction for investments are entrepreneurship, administrative, hotel and training activities.
The partnerships entered into by the “Egypt Sovereign Fund” with some Arab and international sovereign wealth funds and their role in providing joint investment opportunities were also presented, as well as presenting the sub-fund’s work plan for offers and the implementation mechanism the document state-owned in order to provide diversified and attractive investment opportunities.
The spokesman added that the president was also briefed on the characteristics of the promotional program that the fund intends to launch in some Gulf countries e in Europe in regarding investment opportunities in Egypt to improve the investment map, the fund’s investment priorities and targeted projects objectives in various industries in the coming period, focus on investment in national projects for the year, on green energy and supporting digital transformation and financial services, as well as a focus on localization of industry in a number of sectors such as the pharmaceutical, vaccine and renewable energy supply industries, as well as providing investment opportunities in some other promising industries such as agricultural reclamation and petrochemicals.
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