CEO of the Sovereign Fund of Egypt : We are keen to translate all opportunities, initiatives and legislative amendments into investment reality

By Eman Hamed

Ayman Soliman, CEO of the Sovereign Fund of Egypt, participated in the third edition of Egypt Economic Summit, during which he highlighted that the main objective of the fund is to invest in the sectors targeted by the Egyptian state. “The fund is always working to translate all opportunities, initiatives and legislative amendments into investment reality and mechanisms implemented on ground.” This came during his keynote speech at the opening session of Egypt Economic Summit, which is held under the auspices of Dr. Mostafa Madbouly, the Prime Minister.

Soliman pointed out that the investment map of the Fund is diverse, “We have several sectors, with promising opportunities, namely education, healthcare, infrastructure, financial inclusion and financial technology, real estate and tourism investment sector, all of which represent the broad base of national investment” Soliman Stated. 

“These sectors have broad opportunities to integrate the private sector, and we are working diligently to transfer the government’s investments in the field of infrastructure, a sector in that is in continuous need for investment and that did not witness a recession even during Covid-19.”

He added that the green economy comprises 3 main pillars: renewable energy generation, the exploitation of this energy in local or international green products, and the third is concerned with providing service centers that promote these products. 

“An alliance was recently announced to establish the first plant to produce green ammonia, which is a green fuel used in the supply of ships, and is used in the maritime transport sectors. This is one of the sectors that produces a lot of emissions, the thing that can help Egypt provide catering services for international ships passing through the Egyptian territory through the Suez Canal. This represents a qualitative leap for the Egyptian economy, and results in a lot of investment opportunities.” Soliman explained.

Talking about the logistics sector, Soliman said, “The fund is contributing to this sector through the establishment of 4 strategic warehouses with the Ministry of Supply and Internal Trade to increase the percentage of strategic goods. We aim to create link between Egypt and African countries to exploit promising opportunities in the African continent and sister countries that have great purchasing powers, and a world-class infrastructure of storage capabilities, enabling economic interdependence with neighboring countries.”

In the health sector, Soliman stated that the Fund devotes great resources to it. “We seek to exploit the components of untapped assets to invest in, whether hospitals or clinical capacities, and to integrate the private sector in these opportunities.” This comes in addition to the agricultural export sector, saying that there is a specialized fund for this sector to support making investments with the aim of increasing the export capacity.

With regard to the tourism sector, Soliman stressed the importance of this sector, especially since Egypt has the qualifications to make a strong come back after Covid-19, pointing out that Egypt has begun to reshape the elements of touristic attractions, after establishing events like The Pharaohs’ Golden Parade, The Sphinx Avenue In Luxor, and opening the Museum of Egyptian Civilizations. In addition to having a new type of tourism, cultural tourism and business tourism, which are new attractions that help achieve a qualitative leap through an integrated system with advanced thinking, hence the government decided to ​​develop Tahrir Complex to be a starting point for the redevelopment of ancient buildings to achieve tourism recovery in Cairo, in addition to the opening of the Grand Museum, which will be attended by presidents, ambassadors and international dignitaries.

Soliman stressed that education and social infrastructure are promising and profitable sectors, where the secret of its success is the rational management of educational institutions. “There are many students who need a good educational product. Investing in an educational product with a reasonable cost and high efficiency will lift a large burden from the shoulders of the Egyptian government, and achieve a return on the capital at the same time, with a focus on sustainability, which is one of the most important factors for the success of the educational system.” Soliman mentioned.

Regarding the manufacturing sector, Soliman stressed that Egypt has an industrial base, however it is not as big as the size of the Egyptian economy, stressing that the state is the entity that can support this sector, and indeed it has huge investments in this field, and seeks to localize the industry, and attract manufacturers to invest in Egypt.

During his participation in Egypt Economic Summit:

CEO of the Sovereign Fund of Egypt, Ayman Soliman: We are keen to translate all opportunities, initiatives and legislative amendments into investment reality

Cairo, 14 December, 2021: Ayman Soliman, CEO of the Sovereign Fund of Egypt, participated in the third edition of Egypt Economic Summit, during which he highlighted that the main objective of the fund is to invest in the sectors targeted by the Egyptian state. “The fund is always working to translate all opportunities, initiatives and legislative amendments into investment reality and mechanisms implemented on ground.” This came during his keynote speech at the opening session of Egypt Economic Summit, which is held under the auspices of Dr. Mostafa Madbouly, the Prime Minister.

Soliman pointed out that the investment map of the Fund is diverse, “We have several sectors, with promising opportunities, namely education, healthcare, infrastructure, financial inclusion and financial technology, real estate and tourism investment sector, all of which represent the broad base of national investment” Soliman Stated.

“These sectors have broad opportunities to integrate the private sector, and we are working diligently to transfer the government’s investments in the field of infrastructure, a sector in that is in continuous need for investment and that did not witness a recession even during Covid-19.”

He added that the green economy comprises 3 main pillars: renewable energy generation, the exploitation of this energy in local or international green products, and the third is concerned with providing service centers that promote these products.

“An alliance was recently announced to establish the first plant to produce green ammonia, which is a green fuel used in the supply of ships, and is used in the maritime transport sectors. This is one of the sectors that produces a lot of emissions, the thing that can help Egypt provide catering services for international ships passing through the Egyptian territory through the Suez Canal. This represents a qualitative leap for the Egyptian economy, and results in a lot of investment opportunities.” Soliman explained.

Talking about the logistics sector, Soliman said, “The fund is contributing to this sector through the establishment of 4 strategic warehouses with the Ministry of Supply and Internal Trade to increase the percentage of strategic goods. We aim to create link between Egypt and African countries to exploit promising opportunities in the African continent and sister countries that have great purchasing powers, and a world-class infrastructure of storage capabilities, enabling economic interdependence with neighboring countries.”

In the health sector, Soliman stated that the Fund devotes great resources to it. “We seek to exploit the components of untapped assets to invest in, whether hospitals or clinical capacities, and to integrate the private sector in these opportunities.” This comes in addition to the agricultural export sector, saying that there is a specialized fund for this sector to support making investments with the aim of increasing the export capacity.

With regard to the tourism sector, Soliman stressed the importance of this sector, especially since Egypt has the qualifications to make a strong come back after Covid-19, pointing out that Egypt has begun to reshape the elements of touristic attractions, after establishing events like The Pharaohs’ Golden Parade, The Sphinx Avenue In Luxor, and opening the Museum of Egyptian Civilizations. In addition to having a new type of tourism, cultural tourism and business tourism, which are new attractions that help achieve a qualitative leap through an integrated system with advanced thinking, hence the government decided to ​​develop Tahrir Complex to be a starting point for the redevelopment of ancient buildings to achieve tourism recovery in Cairo, in addition to the opening of the Grand Museum, which will be attended by presidents, ambassadors and international dignitaries.

Soliman stressed that education and social infrastructure are promising and profitable sectors, where the secret of its success is the rational management of educational institutions. “There are many students who need a good educational product. Investing in an educational product with a reasonable cost and high efficiency will lift a large burden from the shoulders of the Egyptian government, and achieve a return on the capital at the same time, with a focus on sustainability, which is one of the most important factors for the success of the educational system.” Soliman mentioned.

Regarding the manufacturing sector, Soliman stressed that Egypt has an industrial base, however it is not as big as the size of the Egyptian economy, stressing that the state is the entity that can support this sector, and indeed it has huge investments in this field, and seeks to localize the industry, and attract manufacturers to invest in Egypt.