6:21 pm
Sunday 01 January 2023
Books – Muhammad Sami:
President Abdel Fattah El-Sisi met today with Dr Mostafa Madbouly, Prime Minister, Major General Abbas Kamel, Chief of General Intelligence, Dr Hala El-Said, Minister of Economic Planning and Development, and Ayman Suleiman, Director executive of the Sovereign Fund of Egypt.
The official spokesman of the Presidency of the Republic specified that the meeting concerned the continuation of the activities of the “Sovereign Fund of Egypt”.
The meeting saw the presentation of the overall activity of the “Sovereign Fund of Egypt” in the last period, as the fund has contributed, since its establishment, to attracting 43% of the total foreign direct investments through 14 projects for worth around £37 billion, which is focused on a number of important sectors of the Egyptian economy, notably hydrogen, green water desalination and education.
The Fund’s efforts to enhance government buildings and assets that will be cleared in view of the transfer to the New Administrative Capital were also reviewed, where the most important elements of investment attraction are entrepreneurial, administrative, hotel and educational 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 and Europe, investment opportunities in Egypt to improve the investment map, as well as the fund’s investment priorities and targeted projects in various sectors during the next period, focusing on investment in projects. Nationalism to move to green energy, support digital transformation and financial services, and focus on locating industry in a number of sectors such as pharmaceutical industries, vaccines and renewable energy supplies, as well as providing investment opportunities in some other sectors such as agricultural reclamation and petrochemicals.
