Cairo – Mubasher: The Egyptian government nears finishing the draft law of sovereign investment fund – Amlak, said Planning Minister Ashraf al-Arabi.
“The government plans to inject EGP 5 billion annually to the fund,” added al-Arabi.
The fund aims to attract foreign investments of nearly $20 billion noted al-Arabi.
Elaborated, the minister pointed out that the fund will focus on investing in eight investment sectors in the framework of the investment plan set up to 2030.
The fund would have a board of trustees headed by the prime minister and would be managed by investment banks in order to attract private sector investors to the projects it will fund.
