Hala Al-Saeed, Minister of Planning and Economic Development and Head of Egypt’s Sovereign Fund stated that the fund intends to create opportunities for national and foreign investors while also protecting the rights of future generations.
According to a news release from the ministry, Saeed attended the first meeting of the fund’s board of directors following its re-formation.
The fund represents the state’s investment arm within Egypt’s 2030 vision and 2023 sustainable development strategy, which aims to achieve national development and investment fairness, according to Saeed.
The Board of Directors of the Fund includes the non-executive chairman, the Minister of Planning and Economic Development, the executive director of the Fund, representatives from the Ministries of Planning and Finance, the Central Bank of Egypt, and the General Authority for Investment and Free Zones, as well as seven independent members with experience.
The Egyptian Sovereign Fund is a sovereign wealth fund established in 2018 by Law No. 177 of 2018 and amended by Law No. 177 of 2020 to contribute to Egypt’s financial economic development through the management of funds and assets owned or transferred to it, as well as investing in a variety of economic activities.
