Riyadh: In the presence of Dr. Ashraf Sobhi, Minister of Youth and Sports, and Chairman of the Executive Bureau of the Arab Ministers of Youth and Sports Council, the Sports Investment Forum (SIF) commenced on Monday in the Saudi capital, Riyadh, under the slogan “Ambitious Sports Investment,” with wide participation from leaders and decision-makers in the sports sector at both the regional and international levels.
According to State Information Service Egypt, the opening event witnessed notable attendance from several international sports figures, representatives of global sports federations and institutions, as well as investors and experts in the field of sports economics. The forum aims to enhance promising investment opportunities and build effective partnerships that support the development of the sports sector at both local and international levels.
In one of the forum’s key sessions, Dr. Ashraf Sobhi participated in the second session titled “Egypt’s Future Vision for the Sports Sector.” He presented a comprehensive strategic vision regarding the development of the sports sector in Egypt over recent years, highlighting the efforts made in infrastructure, encouraging sports investment, and enhancing the role of the private sector in the sports system.
The minister confirmed in his speech that Egypt has prioritised sports within the framework of “Egypt Vision 2030.” He explained that the past period has witnessed a qualitative leap in the level of sports facilities, unprecedented attention to expanding the practice base, empowering youth, and providing an attractive investment environment through legislation, facilitating procedures, and offering incentives.
Dr. Ashraf Sobhi indicated that Egypt aims to transform into a regional centre for the sports industry in the Middle East and Africa by hosting major events, encouraging the establishment of academies and specialised centres, and developing the sports economy system to meet global standards.
He also emphasised the importance of encouraging sports clubs and federations to establish sports service companies. These companies are seen as an effective tool for achieving financial sustainability and enhancing the marketing and administrative aspects of the sports system. He pointed out the necessity of strengthening partnerships with the private sector in developing the sports medicine system, as it is one of the vital pillars for rehabilitating athletes and improving performance levels.
In terms of institutional development, Dr. Ashraf Sobhi mentioned the expansion of the investment offering programme in youth centres and sports clubs. This expansion contributes to enhancing the efficiency of facilities and providing diverse services to citizens. He explained that the ministry is working to integrate the informal economy in the sports sector into the formal economy through regulatory and procedural policies that facilitate the registration of sports activities and support their stability and growth.
The minister concluded his remarks by referring to the launch of a platform for licensing sports service companies, aimed at easing procedures for investors and providing a flexible and integrated digital environment to serve the sports services sector in Egypt.