20 April 2024 10:47 PM

Egyptian Investors Abroad to Enter Egyptian Markets

Tuesday، 27 February 2024 - 01:07 PM

Within the role played by the Ministry of Immigration in enhancing communication with Egyptian investors abroad, Ambassador Soha El-Gendy, Egypt's State Minister for Immigration and Egyptian Expatriates Affairs, received Engineer Ashraf Doss, the Egyptian businessman in the United States, Chairman of the Board of Directors of the “Fern Pro Global” Investment Company, and Mr. Marwan Younis, Executive Partner, Head of the Asset Management Sector at Zilla Capital, to discuss ways of joint cooperation regarding the contributions of Egyptians abroad in supporting the development plan and strengthening the Egyptian economy.

Ambassador Soha El-Gendi said that this meeting came within the framework of the role played by the Ministry of Immigration in enhancing communication with Egyptian investors abroad in order to facilitate their work and to encourage them to enter the Egyptian markets.  The meeting also discussed ways to overcome any obstacles they may face.

The Minister of Immigration added that she had previously held virtual meetings with a number of Egyptian investors abroad, who stressed their urgent need to provide a comprehensive investment entity for all categories of Egyptians abroad, and to establish a holding company that manages investments in several diverse industrial, agricultural, tourism and technological projects. They also proposed a number of investment opportunities.

During the meeting, the Minister listened to a comprehensive explanation of the proposals presented, and a presentation of the company’s investment plan regarding many sectors, including agricultural, tourism, and hotel facilities.

Mr. Doss and Mr. Younis presented everything related to the company and the support it required from the Ministry of Immigration regarding Egyptians abroad, and indicated that there is communication with the General Authority for Investment to overcome all remaining obstacles in order for all these proposed projects to be implemented.

Ambassador Soha El-Gendi, Minister of Immigration, confirmed the government’s readiness to grant the company and the projects it is implementing all necessary incentives, which will contribute to enhancing the attraction of foreign currency to the country.

During the meeting, they talked about tourism projects in South Sinai and the great development it is witnessing during the era of President Abdel Fattah El-Sisi. The Minister of Immigration indicated that she is fully prepared to provide everything to support them to implement the projects that will provide huge job opportunities for young people and increase the number of hotel rooms.

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