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Egypt Scraps Investment Ministry in Limited Cabinet Shakeup

Abdel Latif Wahba

(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 MinisterAlaa Fawad -- Legislative Affairs MinisterRania Al-Mashat -- International Cooperation MinisterNiveen Gamaa -- Industry MinisterNiveen El-Kabbaj -- Social Solidarity MinisterSayed El-Qaseer -- Agriculture MinisterMohamed Manar -- Civil Aviation MinisterOsama Hekal -- State Minister for Information

(Updates with parliament approval in second paragraph)

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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