Egypt, Copenhagen Infrastructure mull green investments

Minister of Planning and Economic Development and Chairperson of the Sovereign Fund of Egypt Hala el Saeed met Saturday with co-founder of the Copenhagen Infrastructure Philip Christiani.

The meeting tackled ways of boosting mutual investments in Egypt’s green and renewable energy projects.

Egypt places a high priority on renewable energy projects and plans to transition its economy to green initiatives, the minister said.

The investment strategy for the 2023/22 fiscal year intends to achieve 40% of Egyptian projects as green ones, with the goal of increasing this percentage to 50% by the end of 2025/24, she added.

The Egyptian government’s investment arm, the Sovereign Fund of Egypt, supports the country’s drive towards green development, el Saeed said.

The fund has launched green hydrogen and ammonia production initiatives, as well as water desalination projects, in partnership with specialized international companies, she added.

The Suez Canal Economic Zone provides promising investment opportunities in this field, the minister said.