Egypt’s Minister of Planning and Economic Development, Hala el-Saeed, discussed with Ayman Soliman, CEO of the Sovereign Fund of Egypt (TSFE), latest developments in the fund’s work.
Soliman presented TSFE’s projects, which are underway, detailing a study for launching an industrial sub-fund.
Minister el-Saeed has stressed the need to finalise new industrial fund’s vision.
She has said the new fund will set up partnerships with major entities, institutions and companies in the industrial sector to support the nation’s industrialisation trend in a bid to localise technological industries.
She added that National Egyptian Railway Industries Company (NERIC) would be the industrial fund’s hard core, pointing out that the new entity would launch partnerships to develop the country’s manufacturing sector.
TSFE is a private investment fund established in 2018 to shape, manage, and perfect opportunities for investment in Egypt’s state-owned assets by creating partnerships and co-investments with private investors.
TSFE aims to drive investment initiatives by utilising a strategically targeted multi-sectoral approach, allowing it to support Egypt’s economic growth and structural reforms that promote private sector engagement in Egypt’s journey towards inclusive sustainable development “Egypt Vision 2030”.
