Immigration Min. to Facilitate Investments for Egyptian Expats

Nabila Makram, Minister of Immigration and Egyptian Expatriates met with representative of Egyptian cabinet and Ministry of planning in order to meet the needs of Egyptians expats.  The expats are willing to participate in the country's developing projects.

Makram explained that Egyptians expats will join the first Egyptian entity forum which starts on the twelfth of July and ends on the 13th.

The substantial amount of their remittances reflect the ultimate trust they have in their homeland; it is one of the most important sources of hard currency.

On the other hand, Minister of Planning Hala El-Saeed said that the rising remittance is a result of the economic development program in 2016.

Foreign exchange flow included $12.4 billion (31%) from Egyptian expatriates.

The country's procedures include, liberating exchange rate, reducing the country's budget deficit and general government debt. All of that helped in making foreign exchange available, in fostering growth, and attracting foreign investments.

The cabinet's representatives said that 96 factories were reformed to save $1 billion; they produced 700 engineering industries.

Egypt collaborated with Industrial Modernization Inc for reforming other 4500 factory in 13 industrial complexes. Moreover, they stressed on facilitating investments for expatriates by selling industrial lands with a less interest rate.  These strategies were applied in India and Morocco; both countries provide their expatriates with insurance and products.