Parliament’s Budget Committee approves legislation to establish SWF
The Parliament’s Budget Committee approved Tuesday legislation establishing Egypt’s EGP200bn sovereign wealth fund, Al Mal reported. The committee will submit its report on the legislation to the Parliament’s General Assembly next week. Planning Minister Hala El Said said last month that the fund would launch at the end of the year, with a roadshow to draw in private investment set to take off in 1H19. The private sector will be allowed to buy stakes of over 50% in sub-funds and affiliated companies, she also said.
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