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Details of Establishing the Nile Pyramids Sovereign Fund within Egypt's Future Authority
The Future of Egypt Sovereign Wealth Fund, "Nile Pyramids," approved by the House of Representatives, aims to promote sustainable economic development in Egypt through effective management of the state's assets and investments both domestically and internationally to achieve the highest possible returns, while maintaining economic flexibility to face crises. The fund is managed by an Executive Director at the level of Deputy Minister, appointed by the President. This director invests the funds according to defined policies and international standards. The law also emphasizes transferring and converting state funds and assets into the fund, granting it the authority to strategically manage state assets and related companies. The goal is to support the public budget and generate rewarding returns for future generations.
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