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Egypt’s TSFE considers 21 projects for investment in 2022

Egypt’s TSFE considers 21 projects for investment in 2022

Arab Finance: The Sovereign Fund of Egypt (TSFE) is studying 21 investment projects during 2022, CEO of TSFE Ayman Soliman stated in a meeting headed by Prime Minister Mostafa Madbouly on May 23rd.

These projects will be developed across six different sectors, namely telecommunications, facilities and infrastructure, healthcare and pharmaceuticals, agriculture and food industries, tourism, and real estate, Soliman highlighted.

For her part, Minister of Planning and Economic Development Hala El-Said said that the TSFE is making great efforts to attract regional and international investments and boost the participation of the private sector amid the ongoing global economic instability that negatively impact inflows to the emerging markets.

During the meeting, the latest development regarding the establishment of a sub-fund to accelerate the government’s initial public offerings (IPOs) program have been discussed.

Under the government IPOs program, stakes in a number of state-owned companies are set to be offered on the Egyptian Exchange (EGX).

The government also targets offering state-owned assets at a value of $40 billion to encourage partnerships with the Egyptian and foreign private sectors throughout a four-year period.

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