Egypt’s Sisi urges maximizing added value of state’s assets through sovereign fund

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Sun, 25 Oct 2020 - 07:17 GMT

The president meets with Prime Minister Mostafa Madbouli and a number of ministers – Presidency

The president meets with Prime Minister Mostafa Madbouli and a number of ministers – Presidency

CAIRO – 25 October 2020: Egyptian President Abdel Fattah El Sisi on Sunday has highlighted the importance that the country’s Sovereign Fund focus on maximizing the added value of the state’s assets and properties.

Meeting with Prime Minister Mostafa Madbouli and a number of ministers, Sisi said this has to be done through a scientific vision to reemploy these assets and achieve the ideal use, successful administration and highest revenue.

The president also called for maximizing the role of the Sovereign Fund in localizing industry and technology, especially in the fields of artificial intelligence, communications, education, transportation and logistics.

This is in addition to the Fund’s role on the international level to attract investments in to the Egyptian economy and help achieve Egypt’s 2030 vision.

The meeting was attended by Minister of Planning Hala El Saeed, Minister of Communication Amr Talaat and CEO of the Sovereign Fund Ayman Soliman.

The Fund that was established in 2018 placed 43rd among the 93 sovereign wealth funds globally in terms of asset size, in a set of rankings created by the Sovereign Wealth Fund Institute (SWFI).

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