Egypt’s sovereign fund secures LE25.5B investments in 2021, studies 44 projects worth LE140B – Egypt Today

Egypt’s sovereign fund secures LE25.5B investments in 2021, studies 44 projects worth LE140B – Egypt Today

CAIRO - 18 September 2022: Sovereign Fund of Egypt succeeded, despite global challenges, in implementing/signing binding agreements for implementation for 10 projects during 2021, with total investments of LE 25.5 billion, according to the Executive Director of the Fund, Ayman Soliman. Soliman noted that these investments were pumped in sectors of utilities and infrastructure, tourism, real estate investment, antiquities development, financial services and digital transformation, education and industry. Soliman also referred to 44 projects with LE 140 billion investments that are under study, in 7 sectors, clarifying that these sectors are utilities and infrastructure, communications, tourism, real estate investment, antiquities development, health services, pharmaceutical industries, agriculture and food industries, education, as well as a number of other sectors. He said that the fund has joined several global alliances and blocs, which reflects Egypt's global economic and political weight, opens new investment and partnership areas, and enhances the fund's governance and credibility as an investor. On September 17, Prime Minister Mostafa Madbouli chaired the first meeting of the General Assembly of the Sovereign Fund of Egypt, in the presence of Minister of Planning and Economic Development, Hala El-Said, Minister of Finance, Mohamed Maait, members of the Board of Directors, and officials