Hala El-Said, Minister of Planning and Chairperson of The Sovereign Fund of Egypt (TSFE), told Daily News Egypt that untapped assets and lands in the Cosmic Village and the Scientific Exploration City will be utilized to establish schools that are suitable for the middle class.
It comes within agreements between the private sector and the Education Fund of the TSFE.
She explained that there is a shortage in public schools, and private schools would bridge this gap for children of the middle class. There are plans to expand the establishment of this type of school.
She mentioned that there are two types of partnerships. The first is direct investment through a group of investors who inject money as shareholders, and the other is represented in investors who launch these schools.
She added: “Egypt’s human capital is its real wealth, and comprehensive sustainable development can only be achieved by investing in the education of future generations.”
El-Said explained that this strategy reflects the investment priorities of the Fund and its interest in investing in this sector, in line with the priorities of the state and the objectives of Egypt’s Vision 2030. This emphasizes investment in human capital as an essential element in the comprehensive development process. It achieves at least four of the UN sustainable development goals.
The Minister added that the Fund seeks to maximize the return on its assets and build wealth for future generations through several aspects. They include benefiting from the real estate portfolio in investment projects closely related to the priorities of the Egyptian state, which is based on investing in human cadres as an essential component of the comprehensive development process.
She stressed the state’s endeavor to diversify funding sources and support the mechanisms of educational sustainable development, by establishing partnerships with both the private sector and civil society within the framework of the participatory approach adopted by the state. This also comes within this framework the National Investment Charity Fund for Education, with the active participation of the institutions of the business community and the banking sector.
