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Minister of Planning, head of Egyptian-Saudi Business Council discuss investment opportunities at Egypt’s Sovereign Wealth Fund

Press Release

Aiming to discuss investment opportunities available at Egypt’s Sovereign Wealth Fund, H.E. Dr.Hala Al Said, Minister of Planning, Monitoring and Administrative Reform held on Monday a meeting with members of the Egyptian Saudi Business Council headed by Mr. Bandar bin Muhammad Al-Amri.

During the meeting, Dr.Hala Al Said highlighted Egypt’s 2030 vision, noting that it (Egypt’s 2030 vision) is characterized by a participatory nature as it has been formulated through efforts of numerous representatives from the Egyptian government, the private sector, civil society, academics, experts, and also youth and women.

She further discussed latest developments in the state’s plans to move to the (New Administrative Capital of Egypt), noting that the state is working on updating job files for its employees in accordance with a scientific methodology in preparation for the move to the new capital, besides executing plans to raise efficiency of the human cadres that will be moved to the new capital.

On the progress of the digital transformation of the state’s services, Al Said asserted the Ministry of Planning’s keenness to integrate digital transformation in the state’s administrative reform plan, especially in the pivots of developing the information infrastructure.

She explained that the government’s efforts in the field of digital transformation have focused on a number of key pillars which include simplifying procedures for obtaining the service, diversification of access to public services, as well as separation between the service provider and the citizen to reduce corruption rates while achieving citizen satisfaction.

Moreover, Al Said noted the important role of the Ministry of Planning partners such as (Institute Of National Planning) which is the research arm of the Ministry, pointing out that its mission is to spread knowledge and provide innovative solutions for policy makers at all levels in the areas of planning and development, through conducting research, studies and consultations.

With regard to (Egypt’s Sovereign Wealth Fund), Al Said stressed that the fund is taking a fast and confident step towards attracting investments in line with the sustainable development strategy, (Egypt Vision 2030) and goals to increase capital in the Egyptian economy.

In the same context, Al Said explained efforts made by the Egyptian state to improve investment climate and mechanisms set to encourage participation of the private sector, noting that Egypt seeks to reform business environment and create investment opportunities through a comprehensive long-term vision represented in Egypt’s Vision 2030.

H.E. Dr.Hala Al Said, Minister of Planning indicated that these efforts are being implemented through numerous reform programs, the most important of which is (National Economic and Social Reform Program), which included many legislative and institutional reforms supporting business environment.

She also said that the state is working establish well infrastructure around the country to perfectly suit domestic and foreign investments.

With the end of the meeting, the Saudi delegation expressed its desire to invest at Egypt’s Sovereign Wealth Fund, noting that what is happening in Egypt today is a great development boom, and that Egypt and Saudi Arabia are experiencing unprecedented progress.