Emigration and Expatriate Affairs Minister Soha Al-Gendy met with Mohamed Farid, chairman of the Financial Regulatory Authority (FRA), on Saturday in the presence of various executive leaders from both the ministry and the authority.
The two sides discussed cooperation in creating investment opportunities for Egyptian expatriates in their homeland in a number of areas consistent with their interests and the ministry’s strategy, while discussing how to motivate them to increase their share of investments.
Al-Gendy said that the meeting aims to discuss the investment axis, which was one of the recommendations of the third conference of Egyptian entities abroad. The conference focused on the establishment of an Egyptian joint-stock company to enable Egyptian expatriates to invest in or invest their money in large national projects and find advantages that encourage them to transfer their savings to Egypt.
He added that the ministry is preparing a plan that aims to provide opportunities for Egyptians abroad to enable them to invest in their homeland, stressing that executive action is being taken to inventory all applicable facilities with the development of various incentives for Egyptians. Egyptian citizens abroad.
In addition, steps have been taken to launch the first electronic application that includes all the services provided to Egyptian expatriates in cooperation with all interested parties and will also include all the privileges that will be available to them during the coming period.
Al-Gendy explained that the pandemic, the Russo-Ukrainian war and the effects of climate change have begun to overshadow daily life in all countries of the world, which has resulted in the interest of Egyptian expatriates to invest in their homeland. . developing.
For his part, Farid said the FRA welcomes all aspects of cooperation with the ministry, especially in supporting its efforts to provide investment opportunities that help increase remittances from Egyptians abroad and improve their participation in investment projects that the Egyptian government is currently working on. .
The two parties also welcomed the presence of brokerage firms and investment managers authorized by the authority to make an inventory of all the investment opportunities available in the stock market, including listed shares of companies that operate in different economic and productive sectors between the 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 review trading opportunities. most important investment. offered by the Egyptian stock market.
He noted that EGX continues to cooperate with the ministry to complete programs to raise the awareness and knowledge levels of Egyptians abroad on the basics of investing and saving through the stock market, as well as to familiarize them with the requirements to open a account and start an investment.