{"id":89714,"date":"2024-09-17T00:00:00","date_gmt":"2024-09-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/"},"modified":"2024-09-17T00:00:00","modified_gmt":"2024-09-17T00:00:00","slug":"pif-directed-to-invest-usd-5-bn-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/","title":{"rendered":"PIF directed to invest USD 5 bn in Egypt"},"content":{"rendered":"

Crown Prince Mohammed bin Salman directed the Public Investment Fund <\/strong>(PIF) to facilitate USD 5 bn in investments into Egypt<\/strong> as part of the \u201cfirst phase\u201d of a larger program of investment, the Crown Prince told Egyptian Prime Minister Moustafa Madbouly, according to an Egyptian cabinet statement<\/a>. No details were disclosed on the timeline of the investments or their targeted areas. The story got ink from the National<\/a>, Reuters<\/a>, and Bloomberg<\/a>, among others.<\/p>\n

This has been in the works: <\/strong>Saudi Arabia is looking to turn its deposits with the Central Bank of Egypt into investments, Investment Minister Khalid Al Falih first told<\/a> the Egyptian prime minister in August. Saudi is the second-largest contributing country to Egypt\u2019s long-term deposits, making up USD 5.3 bn of the USD 14.9 bn long-term deposits currently sitting at the Central Bank of Egypt at the end of 2023. Yesterday\u2019s statement did not confirm whether this is how the USD 5 bn from the PIF will be funded.<\/p>\n

Remember: <\/strong>Madbouly touched down in Riyadh yesterday alongside Egypt\u2019s Finance Minister Ahmed Kouchouk and Investment Minister Hassan El Khatib for talks with their Saudi counterparts aimed at strengthening trade and investment between the two countries.<\/p>\n

The PIF is no stranger to Egypt:<\/strong> The sovereign fund\u2019s most recent moves in the country saw it join up with CIRA Education\u2019s majority shareholder in May to acquire up to 100%<\/a> of the company. A little later on in the month, the fund \u2014 which ranked<\/a> as the world\u2019s highest-spending sovereign wealth fund in 2023 \u2014 began negotiations<\/a> to acquire a minority stake in local agriculture firm Daltex. In 2022 alone, the PIF through its Saudi Egyptian Investment Company invested<\/a> over USD 1.3 bn via SEIC to acquire stakes in state-held EGX-listed companies. Its holdings in Egypt include a 25% stake in Mopco, a 19.82% stake in Abu Qir Fertilizers, a 27% stake in E-finance<\/a>, and a 20% stake in Alexandria Container and Cargo Handling.<\/p>\n

Egypt is keen to signal it\u2019s ready for business: <\/strong>In his meeting with the Crown Prince, and in an earlier speech to private sector players<\/a>, the Egyptian prime minister noted that the majority of the approximately 90 problems identified by Saudi investors have already been sorted out. The 14 remaining issues will be solved by the end of the year, Madbouly added.<\/p>\n

A bilateral investment agreement to push everything along will also soon be in place: <\/strong>The Agreement on Promotion and Mutual Protection of Investments between the two countries, which aims to help protect Saudi investors as Egypt looks to double their investments in the country, will be put into effect in two months or less after both sides sort out the necessary legislative and regulatory issues.<\/p>\n

As will a coordination council currently in the works: <\/strong>The crown prince said he wants to hold the first meeting of a coordination council between the two sides in October.<\/p>\n","protected":false},"excerpt":{"rendered":"

Details on the kinds of investments to be targeted remained sparse<\/p>\n","protected":false},"author":1,"featured_media":89715,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2616],"tags":[10,2689,31,1151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam-ksa","tag-investment","tag-investment-watch","tag-public-investment-fund-pif","wpautop","entry"],"acf":{"mongo_id":"08a20a78-d5cd-431c-bb24-fc93084a82b1","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1243.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Crown Prince directs PIF to invest USD 5 bn in Egypt","related_issue":[89707],"teaser":"Details on the kinds of investments to be targeted remained sparse","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.e7301385-2902-44df-9edd-5d3403870745.mp3"},"yoast_head":"\nPIF directed to invest USD 5 bn in Egypt - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PIF directed to invest USD 5 bn in Egypt\" \/>\n<meta property=\"og:description\" content=\"Details on the kinds of investments to be targeted remained sparse\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-17T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"PIF directed to invest USD 5 bn in Egypt\",\"datePublished\":\"2024-09-17T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/\"},\"wordCount\":478,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM KSA\",\"Investment\",\"INVESTMENT WATCH\",\"Public Investment Fund (PIF)\"],\"articleSection\":[\"Investment Watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/\",\"name\":\"PIF directed to invest USD 5 bn in Egypt - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-09-17T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"PIF directed to invest USD 5 bn in Egypt\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"PIF directed to invest USD 5 bn in Egypt - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/","og_locale":"en_US","og_type":"article","og_title":"PIF directed to invest USD 5 bn in Egypt","og_description":"Details on the kinds of investments to be targeted remained sparse","og_url":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/","og_site_name":"KSA","article_published_time":"2024-09-17T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"PIF directed to invest USD 5 bn in Egypt","datePublished":"2024-09-17T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/"},"wordCount":478,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&ssl=1","keywords":["EnterpriseAM KSA","Investment","INVESTMENT WATCH","Public Investment Fund (PIF)"],"articleSection":["Investment Watch"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/","url":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/","name":"PIF directed to invest USD 5 bn in Egypt - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&ssl=1","datePublished":"2024-09-17T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/17\/pif-directed-to-invest-usd-5-bn-in-egypt\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"PIF directed to invest USD 5 bn in Egypt"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1243.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/89714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=89714"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/89714\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/89707"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/89715"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=89714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=89714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=89714"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=89714"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=89714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}