Makram, Abdel Wahab Sign MoU to Establish Egyptian Investors Abroad Unit

Nabila Makram, Minister of Immigration and Egyptian Expatriates' Affairs signed a memorandum of understanding (MoU) on Sunday to establish a Unit for Egyptian Investors Abroad with the Chairman of the General Authority for Investment & Free Zones Mohamed Abdel Wahab, with the aim of facilitating and attracting investments from Egyptian expats.

Makram said that the opening of the unit comes in light of the Ministry's efforts, in cooperation with the ministries and institutions concerned, to attract more Egyptian expats to invest in their homeland, adding that the new unit will be responsible for facilitating all procedures, including the issuance of license as well as a complete follow up.

The minister praised the Egyptian expatriates for their enthusiasm to invest in Egypt, notably during their participation in the "Egypt Can" conference, explaining that the establishment of the unit comes within the strategy of the Ministry to meet the demands of Egyptians abroad and integrate them into the state's national development processes.

"The new unit Reflects the state’s desire to build bridges of trust and communication with all its citizens abroad," she noted, adding that the ministry aims to attract Egyptian investors, who have always contributed to the Egyptian economy.

On his part, Abdel Wahab stressed the need to facilitate all procedures for Egyptian expatriates, who wish to set up projects in their homeland, adding that the unit will offer investment opportunities and issue the necessary licenses for these projects.

"The unit will hold regular follow-up meetings with investors, and will provide assistance to overcome any obstacles that they may encounter during the implementation process," he noted.

"It will also help in developing links with Egyptians abroad by providing them with information and answering their inquiries to help them identify the investment opportunities available in both private or national projects," Abdel Wahab pointed out.

He added that the unit, incorporation with the two bodies concerned, will also supervise the organization of conferences and coordination of meetings between national companies and Egyptians residing abroad, in addition to receiving and analyzing inquiries, complaints and investor demands.