Gov’t reconsiders establishing sovereign wealth fund

The government is reconsidering establishing a sovereign wealth fund to manage the state’s underutilized assets, Al Mal reported. The government had considered setting up the “Amlak” fund two years ago after consulting with Strategy&. Former Planning Minister Ashraf El Araby and former Investment Minister Ashraf Salman had reached an agreement to set up the fund and even had EGP 5 bn allocated for it in this year’s budget but the agreement did not come to fruition.