CAIRO: Egypt’s Minister of Trade and Industry Rachid Mohamed Rachid will act as minister of investment, replacing Mahmoud Mohieldin, who has resigned to take up a post at the World Bank, the state news agency said on Saturday.
Rachid, one of three main reforming ministers appointed by the government of Prime Minister Ahmed Nazif in 2004, led liberal economic measures that included the sale of major state assets and sharp reductions in income taxes and tariffs.
The agency, MENA, did not say when a new permanent minister would be appointed.
Mohieldin will take up his post of a director of the World Bank in Washington next month and will oversee offices involved in finance and private sector development, poverty reduction and economic management, and human development.
