Dr. Hala Al-Saeed, Minister of Planning and Economic Development, confirmed that the Egyptian Sovereign Fund signed a number of protocols and established partnerships with local, regional and international institutions.
She indicated the signing of a cooperation agreement with the National Service Projects Organization, and that at the regional level, Egypt and the United Arab Emirates are establishing a joint strategic investment platform worth $20 billion to invest in a range of sectors and assets, and at the international level, the Egyptian Sovereign Fund signed a memorandum of understanding with ACTIS in London to promote investments in the energy and infrastructure sectors.
This came during the meeting of Dr. Hala Al-Saeed, Minister of Planning and Economic Development and Governor of Egypt at the Islamic Bank Group, with Umurzakov Oktamovich, Deputy Prime Minister for Investment Affairs and Foreign Economic Affairs and Minister of Investment and Foreign Trade of Uzbekistan, on the sidelines of her participation in the forty-sixth annual meeting of the Bank Group, held in Tashkent, Republic of Uzbekistan. In order to explore opportunities for cooperation between the two countries.
The Minister of Planning and Economic Development said that the Egyptian government has strengthened partnerships with the private sector with the aim of diversifying sources of financing development plans and programs, in addition to regional and international sovereign funds.
She pointed to the establishment of the Egyptian Sovereign Fund as one of the most effective mechanisms for creating partnership opportunities between the public and private sectors, and accelerating the activity of the private sector for projects that achieve benefit.
She explained that the fund aims to create investment opportunities in promising sectors with high growth.
Al-Saeed added that four sub-funds have been established in areas consistent with the state’s priorities, including health services, infrastructure, financial services and digital transformation, as well as tourism and real estate investment.
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