18 September 2019 01:53 PM

Sisi orders Egypt's sovereign wealth Fund to be set up in line with latest standards

Sunday، 11 November 2018 - 11:33 AM

President Abdel Fattah El Sisi ordered on Saturday 10/11/2018 finalizing all the measures required for establishing Egypt's sovereign wealth Fund in line with the latest globally-recognized standards.

Sisi gave the directive at a meeting with Prime Minister Moustafa Madbouli and Minister of Planning, Follow-up and Administrative Reform Hala El Sayed.

The meeting took up the progress achieved to establish the fund and a capacity-building plan for the state's administrative structure, Presidency's Spokesman Bassem Radi said.

The Fund aims at leveraging and effectively managing the state's assets in line with the state's Egypt Vision 2030, which seeks diversifying financing sources by luring investors in various strategic sectors to maximize the value of state assets and thereby promoting the national economy.

MENA

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