The Minister of Emigration and Expatriates, Soha Al-Gendy, met on Saturday Mohamed Farid – Chairman of the Financial Regulatory Authority (FRA) – in the presence of a number of leaders of the ministry and the authority.
The two sides discussed cooperation to create investment opportunities for Egyptian expatriates in their home country in a number of areas that correspond to their interests and the ministry’s strategy, while discussing how to motivate them to increase their participation in investments.
Al-Gendy said the meeting aimed to discuss the investment axis, which was among the recommendations of the Third Conference of Egyptian Entities Abroad. The conference focused on establishing an Egyptian joint stock company to enable Egyptian expatriates to invest in major national projects or invest their money in them and find benefits that encourage them to transfer their savings to Egypt.
She added that the ministry is preparing a plan that aims to provide opportunities for Egyptians abroad to enable them to invest in their homeland, pointing out that executive measures are being taken to list all applicable facilities with the development of various incentives. for Egyptian citizens abroad.
In addition, steps have been taken to launch the first electronic application which includes all services provided to Egyptian expatriates in cooperation with all parties involved and will also include all privileges that will be made available to them in the coming period.
Al-Gendy explained that the pandemic, the Russian-Ukrainian war and the effects of climate change have started to cloud daily life in all countries of the world, which has sparked the interest of Egyptian expatriates to invest in their country. ‘origin. development.
For his part, Farid said that the FRA welcomes all aspects of cooperation with the ministry, especially supporting its efforts to provide investment opportunities that help increase remittances from Egyptians abroad. and to strengthen their participation in the investment projects that the Egyptian government is currently working on. .
Both sides also welcomed the presence of brokerage firms and investment managers licensed by the authority to inventory all available investment opportunities in the stock market, including listed stocks for companies operating in different economic and productive sectors between real estate, education, and health sectors.
In a related context, Ramy El-Dokany – head of the Egyptian Stock Exchange (EGX) – said that the communication process will be coordinated between the ministry and representatives of brokerage firms and investment managers to discuss how to examine the most important investment opportunities. offered by the Egyptian stock market.
He pointed out that EGX continues to cooperate with the ministry to carry out programs aimed at raising awareness and educating Egyptians abroad on the basics of investing and saving through the stock market, as well to familiarize them with the conditions for opening an account and starting an investment.