The Clap
The government is working on establishing a company that invests expats’ money in local projects.
What
Soha Gendi, Minister of Emigration, said that the company will be listed on the EGX, with expats investing either by buying shares in the company or through private investments.
So What
The purpose of this company is to invest in local projects that record strong returns.
In addition, the government is trying to attract expat investments to secure hard currency, which falls in line with the car imports initiative as well as the housing initiative.
Now What
According to Gendi, the company is expected to be established in 2023.
