CAIRO – 11 October 2023: The Minister of State for Emigration and Egyptian Expatriate Affairs, Soha El-Gendy, stated that Egyptians Abroad Investment Corporation comprises 10 founders; prominent Egyptian business figures residing abroad. The company is set to invest in various sectors, notably real estate, energy, and agriculture.
In her televised statements on the "DMC" channel, she mentioned that the company's investment activities will be within Egypt. Its shares will be listed on the Egyptian Stock Exchange (EGX) and some international exchanges. Additionally, an affiliated investment fund will be established, allowing small investors to participate, managed by Egyptians residing abroad. The Ministry of Emigration's role is to support and facilitate the company's establishment.
Previously, the minister stated in press releases that the paid-up capital of the company will be around $100 million, with an authorized capital of $1 billion.
She emphasized that she has actively held both physical and virtual meetings with Egyptian expatriates. So far, she has met with Egyptian communities in 63 countries to understand their challenges and introduce the ministry's strategies. She has also presented the state's facilitations and incentives for them.
Furthermore, she noted her commitment to daily communication with Egyptians abroad through WhatsApp groups. Thanks to this direct interaction, many obstacles, psychological barriers, and trust issues between Egyptians abroad and the state have been successfully addressed.
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