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Egypt’s Emigration minister reveals details behind new expat investment company

Minister of Immigration and Egyptian Expatriates Affairs, Soha al-Gendy, revealed the details behind the new investment company in which Egyptians working abroad will participate, with a capital of about one billion dollars.

She explained on Saturday that the company will bear the name “Egyptians Abroad Company for Investment and Development,” and that the Zilla Capital Investments Company has been chosen to manage the financial portfolios of this company.

This new company is expected to invest in many different projects and commercial activities – including new renewable energy, imports and exports, logistics, natural resources, marble, education, educational institutions and clean energy.

According to the minister, this new company is also scheduled to invest in many agricultural and commercial sectors, human resources, tourism and hotel facilities.

She assured the government’s readiness to grant the company and its projects all necessary incentives, which will contribute to attracting and enhancing foreign exchange at home.

This company comes to satisfy one of the demands made by Egyptian expats during the fourth expatriate conference, she said.

The minister added that it aims to be a nucleus for Egyptian investors working abroad, who number 14 million citizens, and this new company was registered with the General Investment Authority.

Gendy confirmed that the company will be granted tax incentives, logistical facilities, and electronics manufacturing.

The official launch of the company will take place at the end of this year, with the start of pumping real investments and its active promotion.

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