The Internal Trade Development Agency (ITDA) and The Sovereign Fund of Egypt (TSFE) have signed a cooperation protocol to encourage private sector participation in the agency’s investment opportunities.
This will take place through strategic partnerships that provide financing opportunities to investors.
The ITDA said the agreement aims to activate agreements with certain parties to encourage investment in the internal trade sector, which is considered a promising economic sector.
The internal trade sector also includes many activities in support of internal trade infrastructure, in line with the state’s directives to promote sustainable development in all economic sectors.
Moreover, the agreement comes in the belief in the role of sovereign funds in encouraging investment in important economic sectors, and its role in preserving the state’s assets.
The agreement was signed to encourage the private sector to participate in investment opportunities presented by the ITDA. This will take place through strategic partnerships that contribute to providing financing opportunities to investors, as well as working to maximise state resources through rational management of assets.
According to the agreement, TSFE will invest in projects undertaken by commercial developers contracted with the ITDA who wish to establish their projects. This will take place in accordance with the terms and regulations in an appropriate manner that would contribute to the project’s success.
For example, TSFE can contribute through, but is not limited to, cash or in-kind contributions such as lands and logistics services. Accordingly, the ITDA, for its part, will promote the projects in which TSFE participates.