Investment, Immigration ministries to establish Egyptian expatriates office to support investors
The ministries will organise promotional campaigns to encourage investment in Egypt
Minister of Investment and International Cooperation Sahar Nasr and Minister of Immigration Nabila Makram agreed to establish an office for Egyptian expatriates at the Ministry of Investment and International Cooperation headquarters.
Nasr pointed out that the ministry aims to help those wishing to invest in Egypt, including Egyptian expatriates, noting that the ministry will also establish an office to serve businesswomen.
The new Investment Law stipulated that the investor service centre in the Ministry of Investment will include 74 entities as to ease investment procedures for investors, including expatriates, and ensure gender equality in investment opportunities.
Makram said that the Ministry of Immigration is working on issuing the consulate card, which is issued from Egyptian consulates abroad to Egyptians residing outside Egypt in order to facilitate any procedures when they come to Egypt, including investment and housing.
The two sides also discussed facilitating procedures to Egyptian expatriates through the ministry’s website and allowing Egyptian expatriates to join the Egyptian exchange and organising training sessions for young people to warn them against illegal immigration. The two ministries also agreed to link their websites and launch joint services for Egyptian expatriates. They decided to include Egyptian expatriates in the draft regulations for the Investment Law’s guarantees and incentives, as well as organising a promotional campaign abroad to encourage them to invest in Egypt.
On the other hand, Sahar Nasr met with Ahmed Al-Alfi, founder of Flat6Labs, and Hany El-Sonbaty, CEO of Sawari Ventures, to discuss the implementation of the agreement signed between the minister, Flat6Labs, and Misr Entrepreneurship to invest in startups at a value of EGP 10m.
The meeting also discussed launching an initiative in six governorates to establish incubators for youth projects in an attempt to spread this initiative to the rest of Egypt’s governorates.The initiative stipulates that each governorate will allocate a single place that combines these incubators.