President Abdel Fattah Al-Sisi has directed the Sovereign Fund of Egypt (TSFE) to strengthen its efforts to achieve the optimal utilization of promising investment opportunities in the country and to develop them in a calculated and sustainable manner in full cooperation with the private sector.
This came during a meeting between President Al-Sisi, Prime Minister Mostafa Madbouly and Minister of Planning and Economic Development, Chairperson of TSFE, Hala El-Said.
Al-Sisi indicated that this aims to enhance the capabilities of current and future generations of all Egyptians and build a growing and diversified economic and investment base that will lead to more distinguished job opportunities for citizens, increasing average incomes and raising the standard of living.
Egyptian Presidency spokesperson Ahmed Fahmy said that Al-Sisi was briefed during the meeting on the projects and activities of TSFE, which aims to increase the volume and quality of investments in Egypt.
The Fund is focusing on priority sectors for the growth and advancement of the national economy, including digital transformation, health and education, industry and agriculture, green hydrogen and water desalination.
During the meeting, the partnerships concluded by the TSFE with a number of Arab and international sovereign funds, their role in providing joint investment opportunities, in addition to the investment priorities of the fund and targeted projects in various sectors during the coming period were presented.
It was also mentioned that the Sovereign Fund of Egypt has entered the top 50 global wealth list, according to the latest rankings released by the public asset tracking agency Sovereign Wealth Fund Institute (SWFI), despite its recent establishment in 2018 and the multiple global and regional challenges in recent years.
During a separate Sunday meeting, President Al-Sisi directed the intensification of work to fully complete the large and important national project aimed at developing the Ain Shams University Hospitals area.
This came during his meeting with Prime Minister Madbouly, Minister of higher education and scientific research Ayman Ashour, advisor to the President for Health and Prevention Mohamed Awad Taj Al-Din, Director of Major Projects Department of the Engineering Authority of the Armed Forces, Major General Ahmad Al-Azazi.
He also directed to transform it into an International Medical City and ensure the sustainability of operation, maintenance and management at the highest level.
This is in order to achieve the state’s goal of providing distinguished medical services to all Egyptians in a real, tangible and sustainable manner, in addition to developing the medical scientific research environment and enhancing Egypt’s role as a scientific and medical beacon in the region.
The spokesperson of the presidency, Ahmed Fahmy, stated that President Al-Sisi was briefed during the meeting on the latest work on developing the Ain Shams University Hospital area and turning it into an international medical city in the heart of Cairo.
This is through the establishment of a new and advanced medical and administrative infrastructure, the creation of an attractive work environment, beautifying the public site and eliminating random gatherings, automation of Medical City hospitals and deepening digital transformation in their working methods.
The Egyptian President directed the intensification of work to complete this large and important national project and ensure the highest level of operation, maintenance, and management.
The spokesperson added that the meeting also touched upon the file of Higher Education Development, which witnessed a significant boom at many levels, including the number of universities.
The number doubled in a few years from 49 universities in 2014 to 92 universities this year, whether public, private, technological or private universities or branches of foreign universities.
In this regard, President AL-Sisi stressed the crucial importance of this sector in strengthening the connection between Egypt’s young students and new graduates, with the current era of rapid and successive development in science, technology and communications..
This is that Egyptian students actively contribute to the process of knowledge production, and puts Egypt on the regional and global map of higher education and scientific research.
