Egypt’s Minister of Planning praises the new formation of TSFE's new General Assembly

H.E. Dr. Hala El-Said, Egypt's Minister of Planning & Economic Development who is also acting as Chairperson of The Sovereign Fund of Egypt (TSFE) hailed the issuance of the decision to reconstitute the TSFE’s General Assembly.

The new TSFE’s General Assembly is chaired by the Prime Minister and includes the membership of Dr. Sadiq Youssef Magdy, Dr. Farouk Abdel-Baqi Al-Oqda, Mr. Hussein Hassan Shukri, Dr. Hisham Ahmed Mahmoud Okasha, Dr. Ziad Ahmed Bahaa El-Din, M. Tariq Qabil, and Dr. Khaled Abdel Aziz.

It also includes the membership of the Minister of Finance and one of the Deputy Governors of the Central Bank, for 4 years.

 TSFE aims primarily to create opportunities for national and foreign investors and to preserve the rights of future generations, according to El-Said.

 TSFE is the investment arm of the state that has several plans that cope with Egypt’s Vision 2030. 

TSFE’s plans preserve the rights of future generations, maximize the exploitation of available assets and resources, and achieve development and spatial justice by investing in different governorates.

TSFE was established in 2018 and aims primarily to attract private investments to Egypt, encourage joint investment in state-owned assets, and attract local and foreign private investments.

The new general assembly will take over the regulation of TSFE's work, and perform several main tasks, the most important of which is monitoring and evaluating the performance of TSFE to prepare the strategy and future directions of the fund.