RIYADH: Egypt has established a 10 billion Egyptian pounds ($195 million) industrial investment sub-fund to support export-oriented companies, deepen capabilities and increase local content. The vehicle, with initial paid-in capital of 500 million pounds, was established as a wholly owned sub-fund of the Sovereign Fund of Egypt under a board resolution issued by the Minister of Investment and Foreign Trade and SFE Chairman Mohamed Farid Saleh, according to a statement. The fund comes as Egypt seeks to expand its industrial and export base under its National Industrial Strategy 2026–2030, which targets raising non-oil exports to $100 billion by 2030. The strategy focuses on developing priority sectors including textiles, food, and pharmaceuticals, as well as automotive manufacturing, electrical and engineering industries. Egypt is also targeting 252.8 billion pounds in manufacturing investments during the 2025/26 fiscal year, up 154.1 percent from 2023/24, according to the Ministry of International Cooperation. The newly released statement said: “The initiative aims to diversify financing and investment tools within the industrial sector — enhancing its sustainability and efficiency — while incentivizing investors to inject new capital into the Egyptian market for production, manufacturing, and export purposes.” Farid said the fund will contribute to increasing foreign currency inflows, localizing technology and strengthening industrial capabilities by supporting export-oriented companies. He explained that the fund invests in companies across a range of industrial sectors, based on feasibility studies and subject to review by its Investment Committee, to expand their production capacity and improve competitiveness. It aims to help these companies expand, grow and increase exports, while also partnering with global industrial firms to establish new projects and develop or expand existing ones. The fund’s activities focus on several industrial sectors offering export and growth opportunities, including automotive components and ancillary industries, electronics and electrical appliances, and food and beverages, as well as textiles and ready-made garments, and pharmaceuticals. Its investment policy focuses on partnerships with the private sector and investment institutions, either through direct investments in companies or indirect investments with investment banks to launch new industrial investment funds. It also allows the fund to invest in industrial assets, land and facilities that support its investment objectives. The undertaking was initially announced in July, when Farid reviewed progress on its establishment as part of government efforts to expand exports and strengthen industrial investment.