{"id":41146,"date":"2022-12-06T07:00:00","date_gmt":"2022-12-06T05:00:00","guid":{"rendered":"https:\/\/www.ecomnewsmed.com\/?post_type=news&#038;p=41146"},"modified":"2022-12-05T12:40:52","modified_gmt":"2022-12-05T10:40:52","slug":"egypt-to-launch-an-investment-company-to-capture-part-of-migrants-savings-to-direct-them-towards-productive-investment-projects","status":"publish","type":"news","link":"https:\/\/www.ecomnewsmed.com\/en\/2022\/12\/06\/egypt-to-launch-an-investment-company-to-capture-part-of-migrants-savings-to-direct-them-towards-productive-investment-projects\/","title":{"rendered":"Egypt to launch an investment company to capture part of migrants&#8217; savings to direct them towards productive investment projects"},"content":"\n  \n    \n      \nEgypt is preparing to launch an investment company aimed at capturing part of the savings of migrants to direct them towards productive investment projects, Asharq Business, an economic information site reported on Friday (November 25th). , quoting the Minister of Emigration and Affairs of Egyptians Abroad, Suha Gendy.\n\n    \n  \n\n\n  \n    \n      \n&#8220;We are working to create an investment company to attract the savings of Egyptians residing abroad and inject them into major investment projects,&#8221; said the minister, indicating that this company will be listed on the Egyptian Stock Exchange. Cairo. \u201cThe company which is expected to launch next year will provide a good return on investment for expats,\u201d she added.\n\n    \n  \n\n\n  \n    \n      \nRemittances from Egyptian migrants reached $20.9 billion in the first eight months of 2022, compared to $21.4 billion in the same period a year earlier, according to data from the Egyptian Central Bank.\n\n    \n  \n\n\n  \n    \n      \nAccording to World Bank statistics, these transfers had reached $31.5 billion in 2021 (up 6.4% compared to 2020), equivalent to 8% of the country&#8217;s GDP, becoming the first source of the country&#8217;s foreign exchange, ahead of export earnings, income from the Suez Canal, tourism income and foreign direct investment (FDI).\n\n    \n  \n\n\n  \n    \n      \nEgypt has a diaspora estimated at 10 million people, the majority of whom are established in the oil-rich Gulf monarchies, the United Kingdom and the United States.\n\n    \n  \n\n","author":114,"featured_media":28612,"comment_status":"open","ping_status":"closed","template":"","tags":[5751,6045,5818,6287,6182],"location":[5600],"class_list":["post-41146","news","type-news","status-publish","has-post-thumbnail","hentry","tag-economy","tag-humanitarian","tag-investment","tag-migrants-2","tag-social","location-egypt"],"short_url":"https:\/\/bit.ly\/3UkHlya","have_related_news":"done","chapo":"Remittances from the Egyptian diaspora have become the country's largest source of foreign exchange, ahead of export earnings, Suez Canal revenue, tourism revenue and foreign direct investment.","media":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/07\/gaza-city-3-550x360.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/07\/gaza-city-3-550x360.jpg 550w","sizes":"550px","alt":"","width":550,"height":360,"ratio":0.68,"credit_photo":""},"media-news-header":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/07\/gaza-city-3.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/07\/gaza-city-3.jpg 1170w","sizes":"1170px","alt":"","width":1170,"height":658,"ratio":0.68,"credit_photo":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Egypt to launch an investment company to capture part of migrants&#039; 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