Office to be established to facilitate investments for Egyptians abroad: ministers

Egypt’s Ministries of Investment and International Cooperation have agreed to launch an investor service centre  for Egyptians living abroad and seeking to do business with Egypt, along with an office to support foreign-based businesswomen facing complex investment procedures.

The plan was agreed during a meeting on Tuesday between Minister of Investment and International Cooperation Sahar Nasr and Minister of Immigration Nabila Makram.

The two ministers discussed measures to facilitate investment for Egyptians abroad, including establishing companies online through the investment ministry’s website and applications to involve Egyptians in the stock exchange.

The investor service centre will also provide awareness campaigns and training courses for young Egyptians at risk of engaging in illegal immigration.

Makram said that her ministry is working on issuing the consular card for Egyptians abroad to facilitate housing and investment services upon their return home.

In May, Egypt’s parliament passed a long-awaited investment law to foster investment in Egypt.

The new law is expected to boost investment by cutting bureaucratic procedures that have been hindering projects and investment opportunities in the country for years.

Source: Ahram online