Egypt Prepares to Launch Investment Company for Expatriates Abroad

PM Mostafa Madbouly held a meeting Sunday to review the features of the proposal submitted by a number of investors abroad to establish the Egyptians Abroad Investment Company, in the presence of Suha Gendy, Minister of State for Immigration and Egyptians Abroad Affairs, and Mohamed Farid, Chairman of the Financial Regulatory Authority,

The Prime Minister started the meeting by welcoming the attendees, expressing his happiness with this initiative to establish the “Egyptians Abroad for Investment” company.

He said: We are keen that citizens abroad have the opportunity to invest in their country, and they will have priority in projects that are being implemented in various sectors of the country, stressing that he welcomes this approach and that various forms and forms of support will be provided by the government in this regard.

The Minister of State for Immigration said that the idea of establishing an “Egyptians Abroad for Investment” company is one of the demands and recommendations issued by the Egyptian Entities Abroad Conference, which was held in 2022.

She explained that this proposal was approved and worked on during the last period, pointing in this regard to the meetings and meetings that were held with a number of ministers and officials of the concerned authorities, during which promising investment fields and opportunities in Egypt were discussed.

Gendi added that the idea of establishing the company was well received by the Egyptian investors abroad, and they also expressed their desire to implement this idea, and they immediately formed the “nucleus” group, which included a number of the company’s founding investors, and several meetings and gatherings were held, and a signature was also signed. Initials with the ten investors who represent the “nucleus” of this company.

At the same time, she indicated that the company is to be managed by Egyptian investors abroad, not by the government

At the end of the meeting, the Prime Minister renewed his welcome and support for the establishment of the company and motivating Egyptians abroad to invest in their homeland to agree on the detailed technical matters related to the establishment of the company, and to present the results of the meeting to take the necessary measures regarding the emergence of this important entity and its contribution to the national economy.