Nabila Makram, Minister of State for Emigration and Egyptians Expatriates’ Affairs, will launch a conference on the role of remittances in supporting investment and sustainable development in Egypt on Sunday, in cooperation with the International Organization for Migration (IOM).
The conference will witness the participation of Minister of Planning and Economic Development Hala El-Said and Minister of Finance Mohamed Maait.
Makram said that the conference aims to discuss ways to further support the contributions of Egyptians abroad to national development through the pillars of participation identified by IOM, which are: cash transfers, skills transfer, cultural heritage promotion, charitable work, as well as trade and investment. A discussion will be held to address the ideas and contributions of experts to develop recommendations to direct cash transfers towards social and economic development in Egypt.
The Minister of Immigration added that cash transfers constitute a supportive contribution by Egyptians abroad. It is the most effective aspect in this regard, especially during the pandemic. She noted that the Egyptian government is working to improve the environment for remittances of Egyptians abroad, as well as investment and trade, with the aim of developing innovative ways to engage Egyptians abroad in supporting investment promotion. This is done within the framework of the project “Local Development Initiatives in Egypt” which is implemented in partnership between the Ministry and IOM with the support of the Italian Agency for Development Cooperation (AICS).
The conference is scheduled to be held over two days. The first day, after the opening, includes holding a seminar entitled “The Participation of Egyptians Abroad in Sustainable Development, Challenges and Opportunities”. The second day includes holding three workshops, the first entitled “Supporting Community Development Efforts after Covid-19”: Challenges, Opportunities and Incentives”, the second is entitled “Guiding Remittances towards Investment: Reviewing Investment Opportunities in Egypt”, and the third is entitled “The Role of Government Institutions and Investment Promotion Entities in Supporting Post-Remittance Investment”.
A number of senior officials in the various ministries and relevant government agencies, a number of Egyptians abroad, representatives of local and international banking and financial institutions, representatives of the private sector, academic experts, representatives and experts from the United Nations and other international organizations will also participate in the conference.