Minister of Planning, Monitoring, and Administrative Reform Hala Al-Saeed met on Monday a Saudi delegation to discuss investment opportunities available in Egypt’s sovereign wealth fund (SWF).
The delegation included a number of representatives from the Egyptian-Saudi Business Council, including Bandar bin Mohamed Al-Amri, chairperson of the council and Alameriah Investment Company.
Hala Al-Saeed said that Egypt’s sovereign fund is taking a fast and confident step towards activating its investment work and attracting investments. This is in line with its sustainable development strategy, Egypt’s Vision 2030, and the goals of the investment fund to increase the contribution of capital to the Egyptian economy, creating job opportunities for youth, and developing Egypt’s resources for current and future generations.
She added that the aim of such meetings with investors is to expand the base of investment opportunities available to the fund, which is a clear indication of the support of the Egyptian state and the Arab brothers to the Egyptian sovereign fund. This is in light of President Abdel Fattah Al-Sisi’s assertion of Egypt’s keenness to communicate and interact directly with investors and the business sector, within the framework of stimulating investment and achieving sustainable development in all its fields.
In the same context, Al-Saeed reviewed the efforts made by the Egyptian state, with the aim of improving the investment climate in Egypt and the mechanisms that the state set to encourage investment and enhance private sector participation.
She explained that Egypt seeks to reform the business environment and create investment opportunities through a comprehensive long-term vision represented in Egypt’s Vision 2030.
Through the framework of implementing programmes and interim plans, programmes like the national economic and social reform programme were executed, including many legislative and institutional reforms supporting the business environment. In addition, the country intensified investment in infrastructure projects necessary to stimulate local and foreign investment, along with the steps that have been taken to create the legislative environment.
For its part, the Saudi delegation expressed its desire to invest with the fund, stressing that it is a good opportunity to invest, form new partnerships, and take advantage of growth opportunities offered by the Egyptian economy.
The Saudi delegation affirmed its full support for investment in Egypt, noting that what is happening in Egypt today is a major development boom, and that Egypt and Saudi Arabia are witnessing an unprecedented movement.
