800 million dollars invested by Syrian refugees since 2011 2
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Ecomnews Med Redaction
Wednesday 24 May 2017 Last update on Wednesday, May 24, 2017 At 2:52 PM

Since their arrival in 2011, Syrian refugees have contributed over 800 million dollars to Egypt’s Economy. The country reveals itself to be an attractive location for Syrians launching businesses.

Syrian refugees and their Egyptian partners have invested more than 800 million dollars since 2011. According to a report released by the United Nations Development Programme (UNDP), Syrian businesses range from big companies to micro enterprisesSyrians work in textiles, local markets, restaurants and IT firms. 

They choose to open these businesses in Egyptbecause they speak the same languagethey can hire Egyptians, boost exports and bring expertise. Even though Egypt’s economy can absorb theses jobsit is still hard for Syrians to start a business in Egypt. 

The weakness of the private sector, and the difficult access to banking for Syrians adds up to the different challenges that Syrian refugees face. 

There are currently 120 000 Syrian refugees in Egypt, but not all of them are registered. The Egyptian government believes that their actual number reaches 500 000. 

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