Egyptians abroad require more than just mere remittances

The Coordinator of the Specialized Council for Economic Development affiliated with the Egyptian Presidency, Hussein Eissa, said that Egyptians abroad are always concerned about their homeland, and their interest in it goes beyond mere remittances despite the importance of them.

Expatriates are always eager to buy apartments or villas in Egypt, he noted, and as they enjoy clean and well-maintained restaurants, cafes or gardens they have a vested interest towards any developments in the national infrastructure.

Eissa continued that in addition to meeting their desires, all that must be done is encourage them to invest further.

Certain economic entities must approach them directly, he added, offering them forms of participation in new or existing companies alongside explaining to them opportunities to diversify their investment portfolios to capitalize on the current investment momentum and simultaneously enhance their contribution to the country’s development.

The new tax reforms could encourage Egyptians abroad to invest more, especially as they see the appreciation for local investors, he said.