Egypt’s President Abdel Fattah El Sisi on Monday participated in a session ‘Empowering the Private Sector and the Role of the Sovereign Fund of Egypt (TSFE) in development’.
The event was held on the sidelines of the World Government Summit (WGS) 2023 in Dubai, in the presence of representatives of a number of major global companies. The ministers of foreign Affairs, planning, international co-operation, finance, communications and information technology and trade were present at the session, alongside the governor of the Central Bank of Egypt and TSFE executive director.
During the meeting, the ministers reviewed the available investment mechanisms and opportunities in Egypt in all sectors, Presidential Spokesman Councilor Ahmed Fahmi said.
The TSFE executive director briefed the attendees on the fund’s development projects in various fields.
President Sisi was keen to highlight Egypt’s current efforts at all levels to stimulate the private sector and provide opportunities for investment partnerships that achieve the common interests of all parties.
The president said that the Egyptian government has taken a raft of measures to strengthen the institutional framework that supports investment, at the foremost of which the State Ownership Policy Document, which determines the state’s presence in the economic sectors and seeks to enhance the private sector’s participation in public investments. It also aims to increase investments by 28 per cent to achieve a 8 per cent economic growth.
President Sisi said that the government established the TSFE as one of the mechanisms to advance partnership with the local and foreign private sector, which is considered a key partner in the development process.
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