MoU signed to encourage Egyptian expats to invest

CAIRO – 31 October 2017: Minister of Industry Tarek Kabil and Minister of Immigration and Egyptians Abroad Nabila Makram signed a three-year memorandum of understanding (MoU) Tuesday to promote investment opportunities to Egyptian expats.

During a conference that witnessed launching a nation-wide industrial investment map, Kabil said that the agreements target activating the role of Egyptians abroad and encouraging them to participate in the industrial growth strategy.

“It will also facilitate the procedures for them to access government services in the industrial sector,” Kabil said.

Based on this protocol, the Ministry of Industry will allocate a section at the premises of the Industrial Development Authority (IDA) to respond to the inquiries of Egyptians living abroad, and to facilitate for them measures related to industrial permits and land allocation as well as to promote available opportunities.

“This agreement will help Egyptians abroad take part in developing Egypt… It also contributes in limiting illegal migration,” Makram said, adding that the industrial map will be available on the Ministry’s website soon.