ADQ, Egypt's Sovereign Fund follow up on joint investments

CAIRO - 26 January 2021: Hala El-Said, Minister of Planning and Economic Development and Chairperson of the Board of Directors of The Sovereign Fund of Egypt (TSFE), held this week a meeting with Mohamed Hassan Al-Suwaidi, CEO of "Holding" (ADQ), and the company's senior management team, to follow up on the joint investment platform's work.

The platform was launched between Egypt and the United Arab Emirates. The meeting was attended by Ayman Soliman, Executive Director of Egypt's Sovereign Fund.

The meeting included following up on the steps of work and partnership between (TSFE) and the Emirati side in several projects, exchanging views on investment opportunities, and maximizing returns from the assets offered for investment.

The meeting also discussed the operational steps and timetables of the current projects in the field of health services, pharmaceutical industries, real estate development, logistics services, and the transportation sector.

The meeting also reviewed the results of studies on attracting Arab and foreign investments to joint projects.

The Minister of Planning and Economic Development asserted the depth of cooperation between Egypt and the UAE in all fields, especially the economic fields, and Egypt's keenness to activate the role of the joint investment platform to achieve the highest levels of utilization of available opportunities.

El-Said also stressed the importance of holding periodic meetings between the two sides and continuous follow-up to ensure the achievement of the desired goals of the action plan.

El-Said expressed her expectations to announce several projects by the end of the first quarter of this year.