Sovereign Fund
Egyptian Prime Minister Dr. Mostafa Madbouly witnessed Wednesday the signing ceremony of 7 cooperation agreements in the fields of green hydrogen and renewable energy.
During the meeting, President Sisi was briefed on all projects and activities of the Sovereign Fund of Egypt, which aims to increase the volume of investments in Egypt, Fahmy added.
The Sovereign Fund is the investment arm of the state; it aims to promote investment opportunities available in Egypt, focusing on implementing the state’s strategy to work to attract investments from the Egyptian and foreign private sectors.
The Sultanate of Oman has identified a number of priority sectors for joint investment with the Sovereign Fund of Egypt in Egypt.
Egypt will float shares of about 23 government-owned companies during the current year, whether through the stock exchange or sale to a strategic investor.
El-Said indicated that there is a target for the sovereign fund's capital to reach LE 1 trillion within five years.
Under the deal, the sovereign fund will acquire a minority stake in the student arm.
He pointed out that the fund continues to offer and create more new opportunities in the field of green hydrogen, especially as it has become one of the most important sectors in the world.
The company added in a statement, Thursday, that the Spanish Development Finance Corporation has signed a memorandum of understanding with the three parties with the intention of becoming a member of the Foundation for Sovereign Wealth Funds in Europe, the Middle East and North Africa (EMENA).
The meeting also reviewed the results of studies on attracting Arab and foreign investments to joint projects.
The Senegalese ambassador highlighted that several opportunities for joint investments are available in Senegal, especially after the oil discoveries that have been made in recent years.
Sisi called for providing food products and medical supplies and urged the government to benefit from the experience of international financing institutions in obtaining financial and technical support to the Egyptian economy.
Soliman added that the fund is working on preparing a second stage of transferring the exploited and untapped assets.
Chief Executive Officer of Egypt's Sovereign Wealth Fund Ayman Soliman received an award from leading economics magazine Business Today, during the annual BT100 ceremony that honors top influential figures and companies positively impacting the Egyptian e
Saeed added in a statement that the establishment of Egypt's Sovereign Fund comes as one of the effective partnership mechanisms between the public and private sectors.
The 28th Euromoney Conference in Cairo themed resilience and agility kicked off on Tuesday.
The committee will include a raft of legal and economic experts, Saeed said in a statement.
The minister of planning said the consortium is preparing the basic regulations of the Sovereign Fund, and will end its work within weeks.
Egypt plans to launch its first sovereign fund by the end of the year, Hala al-Saeed, acting planning minister, said
Establishing a sovereign wealth fund to manage state assets aims to contribute to the sustainable development and optimal use of public resources.
