Ayman Soliman, CEO of the Sovereign Fund of Egypt, announced the fund’s participation in EFG Hermes recently to launch the first bank.
He explained, “This partnership is for the purpose of financial inclusion, to seize growth opportunities in the medium and small enterprises sector, and we address them in its modern language, and although the banking sector is one of the largest sectors in Egypt, its work mechanisms consider these companies a burden, but with advanced technology we can provide more services at a lower cost.” Unifying the vision towards this sector and achieving financial inclusion, in addition to the fact that the banking sector is profitable and helps in expanding activity, stressing that the integration of investment objectives is the most important ingredient for success.
With regard to the tourism sector, Suleiman stressed the importance of this sector, especially since Egypt has elements that enable it to return strongly after the Corona pandemic, pointing out that Egypt began to reshape the tourist product and the elements of tourist attractions, after the mummies corridor and the opening of the rams road, and the Museum of Egyptian Civilizations, which became Attractive points, and we also have a new type of tourism, cultural tourism and business tourism, which are new attractions that help achieve a qualitative leap through an integrated system with advanced thinking. Hence the idea of developing the Tahrir Complex to be a starting point for the redevelopment of ancient buildings to achieve tourism recovery in Cairo, and if we head to the opening of the Grand Museum, it will be witnessed by heads of state, ambassadors and international dignitaries, and there must be tourist facilities worthy of this level.
Suleiman stressed that education and social infrastructure is a promising and profitable sector, and the secret of success in it is the rational management of educational institutions, and there are many students who need a good educational product. The responsibility of the Egyptian government, and achieving a return on capital at the same time, with a focus on sustainability, which is one of the most important factors for the success of the educational system.
Regarding the manufacturing sector, Soliman stressed that Egypt has an industrial base, but it is not the size of the Egyptian economy, stressing that the state is the entity that can support this sector, and indeed it has huge investments in this field, and seeks to localize the industry, and attract manufacturers to manufacturing in Egypt.
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