The Minister of Planning, Follow-up and Administrative Reform, Dr. Hala Al-Saeed, said that a specialized committee was formed that included the legal framework for the Egyptian sovereign fund, as well as the bases and rules for the selection of employees.
Al-Saeed said today in a statement that the basic regulations of the Fund will be issued by a decision of the Prime Minister on the basis of the proposal of the competent minister after approval by the Council of Ministers within 60 days of the date of implementation of the provisions. of the Fondswet. International economic newspapers at the request of the executive director of the fund, in preparation for the establishment of the board of directors.
The Board of Directors of the Fund is headed by the Minister of Planning, as the competent minister, with the membership of a representative of the Ministry of Finance and another on the Ministry of Investment, in addition to five experienced members, while the General Assembly of the Fund will include the Prime Minister and the Ministers of Planning, Finance and Investment with seven experts.
She pointed out that the work is being done to find a headquarters for the sovereign fund after it has become an independent legal entity with the issuance of the law, indicating that the fund is aimed at maximizing the use of the unused assets and wealth of the state, in addition to the diversity of sources and sources of state profits, generally.