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.
“We aim to attract billions of dollars in projects in the next two years. We hope that the Tahrir Complex development project will be the beginning of many pioneering projects and future investments,” Soliman added.
Last month, the Egyptian president El-Sisi urged the fund to continue studying the state's under-utilised properties and assets, with maximising the return from them to ensure the sustainability of its investments.
