Immigration Ministry Discusses Ways to Attract New Investments from Ex-pats with the Investment Sector

Ambassador Soha Gendi, Minister of State for Immigration and Egyptians Abroad Affairs, held a meeting with the head of the investment sector in a national bank and other representatives from the investment sector. They discussed new mechanisms to attract cash flows from Egyptians working abroad and ways to invest them optimally to maximize return on investment.

In the beginning, the Minister of Immigration indicated that this meeting aimed to explore the investment axis, which was among the recommendations of the Third Conference of Egyptian Entities Abroad. These recommendations focused on establishing an investment company for Egyptians abroad to invest their money and find advantages encouraging them to transfer their savings to Egypt.

She confirmed Prime Minister Dr. Mostafa Madbouly’s approval of these recommendations and his mission to coordinate efforts between the various competent authorities to formulate the company’s fields of work its legal form in line with the law that regulates them.

Gendi indicated that the government is working on implementing the conference’s recommendations, in cooperation with the concerned authorities. Egyptians abroad have witnessed the volume of development and innovation currently happening in Egypt in all fields, which completely changed their vision and strengthened their desire to invest in their homeland.

She affirmed that the national banks enjoy great credibility with the masses of Egyptian ex-pats, which explains their keenness to deal with these banks. The minister highlighted the Ministry’s role in promoting these products, and the savings and investment vessels, during its direct meetings with Egyptians abroad or via video conference. She mentioned that she was accompanied during her foreign visits to the Kingdom of Saudi Arabia and the United Arab Emirates by representatives of these national banks.

The ambassador added that within the framework of the mandates of the political leadership to meet the needs of Egyptian citizens abroad, the ministry is implementing a plan to offer opportunities for Egyptians abroad. This plan aims to support and facilitate their investment in their homeland through the areas they desire.

 

New Egypt signs a Cooperation Protocol with the Decent Life Foundation

Last Sunday, the Decent Life Foundation signed a protocol with New Egypt International Group, which aims to boost partnerships and collaborations between the institutions representing Egyptians working and living abroad, from one side, and national institutions and projects, from the other.

The execution of this protocol with help promote digital literacy in Egypt’s countryside, spread the digital culture among different community groups, particularly the most deserving villages, and empower women.

This protocol is presumably the first one to be signed by the Decent Life Foundation and Egyptians abroad. The cooperation came under the auspices of the Minister of State for Immigration and Egyptians Abroad Affairs, Soha El-Gendy.

Regional Director of New Egypt International Group, Ghada Ali stressed that the cooperation between her group and Decent Life Foundation would play a major role in strengthening the connection between Egyptians living in the country, and Egyptians abroad.

“It will also be instrumental in the transfer of experiences from Egyptians living in other countries to their fellow countrymen inside Egypt,” Ali added.

Moreover, it will provide the needed support to development efforts on the way to establishing the New Republic, according to the director’s statement. The director is looking forward to more joint activities with the Decent Life Foundation in line with the new cooperation protocol.

Aya Omar, the Head of the Board of Trustees of Decent Life Foundation, shed light on the protocol’s role in combining all efforts towards serving the Decent Life project.