Last Update 10:16
Thursday, 14 November 2019

Egypt's PM follows up on measures to launch sovereign wealth fund

MENA , Monday 14 Oct 2019
PM Madbouly, SWF
Egypt's PM Madbouly holds a meeting with planning minister Hala al-Saeed and SWF officials (Photo Courtesy of Egyptian Cabinet)
Share/Bookmark
Views: 1218
Share/Bookmark
Views: 1218

Prime Minister Mostafa Madbouly, in his capacity as head of the general assembly of Egypt's sovereign wealth fund (SWF), on Monday followed up on measures relevant to launching the fund and the necessary steps to activate it.

This came during a meeting of the general assembly of the SWF in the presence of Minister of Planning and Administrative Development Hala El-Said, Executive Director of the SWF Ayman Mohamed Soliman, and member of the fund's board Counselor Mohamed Aby Zeid.

The fund is a form of active partnership between the government and private sector which aims at achieving sustainable development objectives through drafting necessary strategies to manage unutilised state assets and maximise their use.

The fund represents a sovereign investment fund wholly owned by Egypt, which has an independent legal personality and enjoys financial independence as well as administrative and financial status independent of the state.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.