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ADQ a strategic partner in promising sectors of Egyptian economy: Sovereign Fund of Egypt CEO

ADQ a strategic partner in promising sectors of Egyptian economy: Sovereign Fund of Egypt CEO
30 Jan 2024 13:56

HONG KONG (WAM)

Ayman Mohamed Soliman, Chief Executive Officer of the Sovereign Fund of Egypt, said that there is a close cooperation with sovereign funds in the UAE across various promising sectors of the Egyptian economy.

Speaking to the Emirates News Agency (WAM), Soliman highlighted the strategic partnership between the Sovereign Fund of Egypt and ADQ, an Abu Dhabi-based investment and holding company. This partnership enhances the fund's capacity to explore and evaluate joint investment opportunities effectively.

Soliman acknowledged Egypt's considerable untapped potential across multiple sectors, positioning the country as an attractive destination for foreign direct investments and a catalyst for economic development.

The CEO underlined ADQ's role as a strategic partner in the exploration of new investment areas and promising sectors within the Egyptian economy, including hospitality and hotels. This partnership extends to all programmes involving the private sector and foreign investors.

Soliman revealed that "ADQ" and its subsidiaries have formed alliances in renewable energy, water desalination, infrastructure, and logistics sectors in Egypt.

During his participation in the Asian Financial Forum in Hong Kong, Soliman expressed the Egyptian Sovereign Fund's commitment to investing in sustainability and green finance to align with evolving global economic trends.

Highlighting the significance of collaboration among Arab sovereign funds, Soliman shed light on the potential for larger investment opportunities, particularly in emerging fields such as renewable energy and value chains for green hydrogen.

He noted that the expansion in these areas - during "COP28" - is expected to foster greater cooperation among Arab countries.

Source: WAM
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