Egypt’s wealth fund says 21 projects in 6 sectors under study for investment
The Sovereign Fund of Egypt is currently studying 21 projects for investment in 2022 in 6 different sectors including telecommunications, utilities, infrastructure, health services, pharmaceutical industries.
This statement came during the statements of the Fund’s Chief Executive Director (CEO) Ayman Soliman in a meeting with the Prime Minister Mostafa Madbouli in the presence of the Planning Minister Hala El Saeed among other officials.
The meeting witnessed a review of the developments related to the completion of the establishment of a sub-fund to expedite the government offering program, within the framework of implementing the government’s plan announced by the Prime Minister during the global press conference, to offer percentages of a number of state-owned companies, in addition to its goal of providing state-owned assets with a value of $40 billion, for partnership with the Egyptian and foreign private sector over four years.
This statement came during the statements of the Fund’s Chief Executive Director (CEO) Ayman Soliman in a meeting with the Prime Minister Mostafa Madbouly in the presence of the Planning Minister Hala El-Saeed and other officials.
The meeting witnessed a review of the developments related to the completion of the establishment of a sub-fund to expedite the government offering program, within the framework of implementing the government’s plan announced by the Prime Minister during the global press conference, to offer percentages of a number of state-owned companies, in addition to its goal of providing state-owned assets with a value of $40 billion, for partnership with the Egyptian and foreign private sector over four years.
During the meeting, the Minister of Planning indicated that one of the most important goals for which the Sovereign Fund of Fund was established is to attract investments from regional and international investors and contribute to increasing the participation of the private sector.
She stressed that the fund is working hard to achieve this goal in light of the economic fluctuations the world is facing, which negatively affect the flow of investments in emerging markets, according to a press release.
The minister added that, despite this, Egypt remains one of the promising markets and the focus of international investors’ attention, which reflects investors’ confidence in the Egyptian economy and the economic reform program.
