Egypt’s Sovereign Fund has created an industrial sub-fund with an authorised capital of EGP 10 billion and a paid‑in capital of EGP 500 million, Investment Minister Mohamed Farid said during a meeting with S&P Global Ratings.
Key takeaways
- Fund purpose: The sub‑fund aims to support economic development, maximise returns on state assets and lower investment risk in strategic sectors.
- Other sub‑funds: A financial services and insurance sub‑fund operates alongside the new industrial vehicle.
- New investment zones: Egypt plans to establish eight to nine zones in the next two to three years to attract capital, create jobs and increase female labour participation.
- Ready‑to‑implement projects: Ministries are preparing packages in health, tourism, housing and energy to match market demand.
- Digital reforms: An “Economic Entities Platform” will unify company registration, licensing and document submission across about 90 agencies.
Industrial sub‑fund details
Farid explained that the sovereign fund uses specialised sub‑funds to channel state capital into sectors deemed strategic for growth. The industrial fund will target manufacturing and related activities, seeking to attract both domestic and foreign investors.