President Sisi ratifies amendments to law of establishment of Egypt Sovereign Fund for Investment and Development

CAIRO - 25 October 2024: President Abdel Fattah El-Sisi ratified amendments to the Law No. 177 of 2018 establishing the Egypt Sovereign Fund for Investment and Development.

The new amendments grant the Prime Minister the authority to assign a competent minister to implement the provisions of this law in light of the amendments made to the powers of the various ministries.

The amendments also include transferring the Fund’s affiliation to the Cabinet.

Meanwhile, Egyptian Prime Minister Mostafa Madbouly assigned the Minister of Investment and Foreign Trade to be in charge of establishing the Egyptian Sovereign Fund for Investment and Development.