15 April 2024 03:58 PM

Soha Gendi winning the newspaper referendum for the year 2023

Monday، 04 March 2024 - 01:49 PM

In appreciation of its efforts in economic empowerment and care for Egyptians abroad, the Financial World Foundation for Press, Printing and Publishing honored Ambassador Soha Gendy, Minister of State for Immigration and Egyptians Abroad Affairs, in the newspaper’s referendum to choose leaders who possess the elements of “vision, competitiveness, and achieving sustainability” in the Egyptian economy for the year 2023, “the year of management.” Crises.

This came in the presence of Mr. Ahmed Issa, Minister of Tourism and Antiquities, Dr. Fakhri Al-Feki, Chairman of the Planning and Budget Committee of the House of Representatives, a number of members of the House of Representatives and the Senate, public figures, and a group of heads of economic institutions.

During her speech, the Minister of Immigration expressed her happiness at her participation in this celebration, praising the Financial World Foundation for Press, Printing and Publishing, stressing her gratitude for being chosen by the public participating in the referendum as one of the leaders who possesses a future vision and has a pioneering role in supporting the national economy - which is a great honor. 

Especially since this free choice by the general public of Egyptians through a referendum reflects the extent to which citizens feel about the efforts made in their favor and the amount of work and real achievement on the ground, which is directly reflected in facilitating their interests and lives and increases the strength of their connection to their motherland.

The Minister of Immigration reviewed the ministry’s work strategy, which ensures linking Egyptians abroad with the various efforts of the Egyptian state for sustainable development, noting that the Ministry of Immigration attaches great importance to effective and continuous communication with members of the Egyptian citizen and investor communities abroad and works to solve their problems, respond to their demands and proposals, and overcome all obstacles facing them.

As a main goal, the Ministry of Immigration seeks to achieve it with all seriousness and honesty, in light of the Ministry’s strategy to enable Egyptians abroad to participate in supporting the national economy.

Ambassador Soha Gendy stressed that there is great importance for the participation of Egyptians abroad in supporting the Egyptian economy, especially since dollar transfers from Egyptians abroad are one of the most important sources of income in hard currency for the country, as dollar transfers to Egypt reached their highest rates in the year 2021/2022, recording $31.9 billion.

With a decrease in remittances in the year 2022/2023, recording $22.1 billion, explaining that this is due to several reasons, including the outbreak of the Corona epidemic in the world and the resulting closure of many companies and business institutions in the world and the layoff of many Egyptian employees and workers abroad, in addition to the problem related to the exchange rate.

Currency and the spread of the black market phenomenon for the dollar, as well as the Russian-Ukrainian war, the supply chain crisis, high global inflation rates, high interest rates, oil price volatility, etc., which caused slow growth in gross domestic product in high-income countries, and led to a slowdown in the growth of financial transfers to many countries Of the low- and middle-income countries receiving remittances in 2023, “the year of crisis management.”

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