The Clap
The Sovereign Fund of Egypt (SFE) brought in 43% of total foreign direct investment (FDI) since its establishment in 2018, the equivalent of EGP 37bn.
What
The investments were distributed among 14 projects in several key sectors, most notably in green hydrogen production, water desalination and education.
The SFE has been working to attract private investments into Egypt to help boost the economy since its establishment. The SFE started with EGP 200bn in capital.
So What
President Abdel Fattah El-Sisi wants the SFE to focus on optimally using the country’s assets and further develop them to maximize revenues and efficiently utilize resources.
Now What
The final draft of the State Ownership Policy Document, which establishes the role of the government in the economy and aims to increase private sector involvement in public investments, was authorized by the president on Thursday.
