Egypt Eyes Sovereign Fund By Year End to Shake Up State Assets
- Egypt Fund to partner with private sector to boost investment
- Roadshow expected in first half of 2019 to drum up interest
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Egypt plans to launch its first sovereign fund by the end of the year and will begin a roadshow in the first half of 2019 to drum up private investment, the country’s planning minister said.
Modeled after sovereign funds in India and Malaysia, Egypt’s new investment arm will seek to generate additional wealth from under-utilized state assets rather than investing surplus oil and gas revenues as Gulf countries do. Partnering with the private sector, the fund will seek to attract domestic and foreign investment and build on economic reforms started in 2016 with the flotation of the currency.