One stop shop kicks off promoting investment from Egyptians abroad

CAIRO – 30 July 2017: A one stop shop protocol has been inaugurated Sunday by Nabila Makram, Minister of Immigration and Expatriate Affairs and Sahar Nasr, Minister of Investment and Cooperation to aid Egyptians living abroad to invest domestically.

Foreign investors will now have a single unified ‘service window’ at the Investors Services Center and electronically to provide all necessary investment services.

The protocol aims to promote foreign investment from Egyptians living abroad by creating a platform where expats are familiarized with the advantages, incentives, and guarantees that the New Investment Law grants them as well as helping them with investment tools and introducing them to opportunities.

The new investment law passed May 7, 2017 as an effort to bring more foreign direct investment to Egypt. The law calls for representatives of 74 parties to facilitate and speed up procedures for Egyptians abroad.

Nasr clarifies that it was important for the two ministries to unite as she has contacted officials in her visits abroad about investment in Egypt and added that the service window has been met with enthusiasm from expats.

A joint council will be formed to make sure the aims of the protocol are carried out and will contain representatives of both committees according to Makram.

After the signing of the one stop shop protocol, the ministers of investment, international cooperation and migration toured the establishment of companies in the Investors Services Center, where the service window has been inaugurated.

There has been a rising interest in Egyptians living abroad as Makram believes female expats to reflect Egypt’s image to the international community. The New Investment Law also provides gender equality in investment opportunities.