Hala El-Said, Minister of Planning and Economic Development said that the Egyptian Sovereign Fund is currently studying offering a number of investment opportunities available in the water desalination and treatment sector in partnership with local, Arab and foreign funds.
El-Said added to Bloomberg Asharq that the partnership with local and foreign bodies maximizes the return on investment in this sector.
This comes amid the stubbornness of the Ethiopian stance towards reaching a binding agreement on the operation and filling of the Grand Ethiopian Dam (GERD), which will severely affect Egypt's water rights in the Nile River, as it will cut about 20 billion cubic meters of water on downstream countries in the second filling.
Egypt is currently working on lining canals, and investing in the desalination and treatment sectors to reduce the negative impact of the Ethiopian dam on water consumption.
She explained that the total investment portfolio for Egypt during the next fiscal year 2021/22 will reach about EGP 1.52 trillion, an increase of 45% for public investments, and about 25% for government investments, in conjunction with the injection of investments in the Egyptian villages development program and the "Decent Life" program.
She added that the investment plan for Egypt will include a 100% increase in investments directed to the productive sectors, and about a 200% increase for investments directed to social sector, such as health, education, information technology, culture and youth, which will help achieve a growth of up to 5.4% by the end of the next fiscal year.
In another context, she revealed that the fund offers a bid for an investment deal in the Tahrir complex, which is expected to operate for several purposes, including a hotel, an administrative part, and a commercial part, all bearing the historical character of Tahrir Square.
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