Arab Finance: The Egyptians Abroad Investment Corporation is likely to launch its operations this year, Minister of Emigration Soha Gendi told Asharq Business.

The company will kick off its business by investing in the agricultural and trade sectors, Gendi said, adding that the company would later expand in the fields of new energy and green hydrogen.

The new company's capital amounts to $1 million, and it includes 10 of the largest Egyptian investors abroad who own investments in Egypt, Saudi Arabia, the UAE, the US, and Canada.

The investment bank Zila Capital will manage the company’s investments, the minister noted.

Furthermore, she pointed out that Egypt's Supreme Council for Investment is currently considering granting tax incentives to the company, in addition to, some logistical facilities.

Urban Development Fund to invest EGP 20B in developing governorates’ capitals in 2024 Updated 7/16/2024 2:07:00 PM

Misr Italia Properties to invest EGP 15B in hospitality sector within 6 years Updated 7/9/2024 8:27:00 AM

Adeer International to invest $400M in Egyptian real estate market over 5 years Updated 7/8/2024 1:33:00 AM

Egypt aims to attract $1B Turkish investments within 18 months Updated 7/7/2024 8:39:00 AM

UK’s BII eyes investing up to $200M in Egypt’s financial sector Updated 7/7/2024 7:52:00 AM