Minister of Planning and Economic Development Hala el-Saeed has said that Egypt’s Sovereign Fund is one of the important mechanisms to promote partnerships with the private sector.
The ministers’ statements came during a meeting with Rebeca Grynspan, Director-General of the United Nations Conference on Trade and Development (UNCTAD) to discuss means of promoting cooperation between the two sides.
The meeting was held on the sidelines of the World Government Summit 2022, the Investopia summit kicked off today, in the presence of over 90 speakers and 1,000 participants including decision-makers, investors, experts and innovators from the UAE and the world, to discuss ideas, opportunities, and future investments all over the world.
The Egyptian minister said the fund was established in 2018 as part of the state plan to achieve sustainable development within the framework of Egypt 2030 Vision to increase investments and diversify sources of financing.
The minister added that the Egypt Sovereign Fund established four sub-funds in the fields of health, infrastructure, finance services and digitization and tourism and mortgage investments.
Meanwhile, Grynspan, expressed hope for deepening cooperation with Egypt in economic domains and supporting Egypt’s plan to achieve sustainable development.
According to UAE officials, “Investopia aims to facilitate the global dialogue, to formulate innovative partnership models and schemes that will generate future investment opportunities, which will help create a new global ecosystem and lay down the foundations for responsible and sustainable future economies.
With Investopia, we are setting a different tone and changing the global investment behavior to not only focus on the economics but also the human, social and environmental aspects.”
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