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Egypt Scraps Investment Ministry in Limited Cabinet Shakeup

Egypt Scraps Investment Ministry in Limited Cabinet Shakeup

(Bloomberg) -- Egypt scrapped its investment ministry and gave the prime minister oversight of the agency dealing with foreign investors in a reshuffle that comes as the North African nation attempts a sweeping economic revival. The Finance Ministry was unaffected.

Under the changes, confirmed Sunday by a vote in Egypt’s parliament, Rania Al-Mashat, a former top central bank official who had taken over the Tourism Ministry, will now steer the International Cooperation Ministry. That body, which had been grouped with the Investment Ministry, had been headed by Sahar Nasr.

Key portfolios such as the finance, public enterprise and supply ministries went unchanged, while the Tourism Ministry was combined with the Antiquities Ministry. Niveen Gamaa, who headed an association for small and medium-sized enterprises, will lead the Industry Ministry.

The following appointments were made to the cabinet:

  • Omar Marwan -- Justice Minister
  • Alaa Fawad -- Legislative Affairs Minister
  • Rania Al-Mashat -- International Cooperation Minister
  • Niveen Gamaa -- Industry Minister
  • Niveen El-Kabbaj -- Social Solidarity Minister
  • Sayed El-Qaseer -- Agriculture Minister
  • Mohamed Manar -- Civil Aviation Minister
  • Osama Hekal -- State Minister for Information

To contact the reporter on this story: Abdel Latif Wahba in Cairo at alatifwahba@bloomberg.net

To contact the editors responsible for this story: Tarek El-Tablawy at teltablawy@bloomberg.net, Michael Gunn, Paul Abelsky

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