Egypt: President El-Sisi Participates in Session on “Empowering the Private Sector and the Role of The Sovereign Fund of Egypt (TSFE)”

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Today, President Abdel Fattah El-Sisi participated in a session on "Empowering the Private Sector and the Role of The Sovereign Fund of Egypt (TSFE)”, which was held on the sidelines of the World Government Summit in Dubai. The session was attended by representatives of a number of the largest family-owned companies; the Governor of the Central Bank of Egypt; the Ministers of Foreign Affairs, Planning and Economic Development, International Cooperation, Finance, Communications and Information Technology, and Trade and Industry as well as the Chief Executive Officer of The Sovereign Fund of Egypt.

The Spokesman for the Presidency, Counselor Ahmed Fahmy, said that during the session, the ministers offered an overview of the investment mechanisms and opportunities available in Egypt in all sectors. The Sovereign Fund of Egypt’s CEO also showcased the fund’s various activities and projects.

President El-Sisi was keen on highlighting the state's ongoing efforts across all levels to spur the private sector activity and provide opportunities for investment partnerships that realize the common interests of all parties. The President also reviewed measures undertaken to strengthen the institutional framework supportive of investment, foremost of which is the adoption of the State Ownership Policy Document. The State Ownership Policy Document seeks to promote competitive neutrality, and establish The Sovereign Fund of Egypt as one of the mechanisms to advance the partnership with the local and foreign private sectors. The aim is to realize the objectives of the state’s development strategy, which considers the private sector as a key partner in the development process, in accordance with the structural reform plan for the economy and the priority sectors in this regard. Those include primarily the agriculture, industry, services, health, education and tourism sectors.

Distributed by APO Group on behalf of The Presidency, The Arab Republic of Egypt.