Egypt's sovereign fund aims to increase investment portfolio to LE 22-23B

CAIRO - 6 December 2021: The Sovereign Fund of Egypt aims to increase its investment portfolio in 2022, to LE 22-23 billion ranging between owned or liquefied assets or assets for management, according to Chief Executive Officer of the Fund Ayman Soliman.

This came during the activities of the second day of the CEO Conference, Monday.

In November, the Egyptian President, Abdel Fattah El-Sisi, directed the Sovereign Fund of Egypt to continue studying the state's underutilized properties and assets, working to develop them and maximizing the return from them to ensure the sustainability of its investments for future generations.

The fund pumped investments in a number of important sectors in order to achieve the developmental impact that the country seeks, as the fund succeeded in occupying the 42nd place globally among the corresponding sovereign funds.

Earlier, the head of Egypt's Sovereign Fund, Ayman Soliman, said that the fund will focus, during a period ranging between 5 and 10 years, on offering investment opportunities to be implemented in cooperation with the private sector.

Soliman pledged to increase cooperation with various sovereign funds, including Gulf funds, during the coming period, with the increase in the number of investment products.

He explained that four sub-funds have already been launched in different fields, and during the next stage two other funds will be launched in the field of education, which increases cooperation opportunities. with the private sector.