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TSFE among largest 50 Sovereign funds globally: Egypt’s presidency

The Spokesperson for the Egyptian Presidency Ahmad Fahmy announced Sunday that Egyptian President Abdel Fattah al-Sisi was briefed on the projects and activities of The Sovereign Fund of Egypt (TSFE).

The meeting noted that the TSFE is among the world’s 50 largest sovereign funds, despite its recent establishment in 2018 and multiple regional and international challenges over the past years.

The TSFE aims to increase and develop the size and scope of investments in Egypt, with a focus on priority sectors for the development and growth of the national economy.

These include digital transformation, health, education, the industry, agriculture, green hydrogen and water desalination.

Sisi met wth Prime Minister Mostafa Madbouly, and Minister of Planning and Economic Development, Hala al-Said, where they reviewed the partnerships the TSFE has struck with a number of Arab and international sovereign funds.

They also touched on the fund’s role in providing joint investment opportunities as well as its investment priorities and the projects targeted in the various sectors during the coming period.

Fahmy said that President Sisi gave orders for the TSFE to further strengthen efforts toward leveraging and developing the state’s promising investment opportunities, in a well-studied and sustainable manner with full collaboration with the private sector.

This aims to boost the resources of the present and future generations of all Egyptians and build a growing and diverse economic and investment basis, conducive to generating more jobs for citizens, increasing income average and raising the standard of living.

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