Future of ministry of investment unknown following Mohie Eddin’s appointment to the World Bank

Investment Minister Mahmoud Mohi Eddin is scheduled to start his new job as managing director of the World Bank in October, and sources at the Council of Ministers said the government has three scenarios following his departure.

The first scenario is to incorporate the investment ministry into the trade and industry ministry under Rachid Mohamed Rachid. The second is to appoint another minister in Mohi Eddin's place. And the third scenario is to abolish the investment ministry altogether.

Candidates for Mohi Eddin’s replacement are Ahmed Saleh, an economist and board member of the Investment Authority; Hani Sarie-Eddin, former chairman of the Capital Market Authority; and Ziad Bahaa Eddin, chairman of the Financial Supervisory Authority.

The sources expect a final decision after the upcoming parliamentary elections.

Should the ministry be abolished, its subsidiary bodies would be distributed among the rest of the ministries, resuming the structure it had under former Prime Minister Atef Ebeid. The Financial Supervisory Authority would be added to the Ministry of Finance, while the privatization and the investment authorities would go to the Ministry of Trade.

Translated from the Arabic Edition.

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