Egypt Wealth Fund Seeks More Gulf Partners to Lure Investments - Bloomberg

Egypt Wealth Fund Seeks More Gulf Partners to Lure Investments - Bloomberg:

Egypt’s sovereign wealth fund is looking to more oil-rich Gulf countries to drum up foreign investment, as the Arab world’s most populous nation presses on with the next phase of its planned economic revamp.

After launching a $20 billion investment platform with the United Arab Emirates, Egypt’s fund is now setting its sights on Saudi Arabia, Kuwait and Oman as partners, its chief executive officer, Ayman Soliman, said in an interview in Dubai.

The partnerships could take several forms “including setting up investment platforms or funds,” Soliman said. Talks with Oman are at the most advanced stage, and could be completed by the end of 2019, and Saudi Arabia and Kuwait have “an appetite to invest in Egypt.”