Egypt’s sovereign fund to increase portfolio

Egypt’s sovereign fund aims to increase its investment portfolio in 2022 to 23 billion Egyptian pounds ($1.5 billion) between managed, owned or liquid assets, its executive director has said. Ayman Soliman pledged to increase cooperation with various sovereign funds during the coming period, including those from the Gulf.

He stated that the green economy, infrastructure, logistics and tourism sectors are the most prominent sectors targeted by the fund for investment during the next year, with three-four new agreements planned to be signed to produce green hydrogen in Egypt. Egypt’s sovereign fund signed an agreement with a winning US consortium to develop and rehabilitate the Tahrir Complex, with a total investment of more than 3.5 billion Egyptian pounds.