Sovereign Fund should focus on maximising value of state-owned assets: Sisi

Egyptian President Abdel-Fattah El-Sisi has instructed the Sovereign Wealth Fund (SFE) to focus on putting forward a scientific vision to maximise the value of state-owned assets.

El-Sisi urged the fund to contribute more to localising technology industries, particularly in artificial intelligence, communications, education, transport, and logistics services.

El-Sisi’s directives were issued during a meeting on Sunday with Prime Minister Mostafa Madbouly, Planning Minister Hala El-Said, Telecommunications Minister Amr Talaat, and the SFE’s CEO Ayman Soliman, a statement by presidential spokesman Bassam Rady said.

The president was briefed on the latest developments concerning the proposals for developing the iconic Mogamma building in Cairo’s Tahrir Square.