The fifth edition of the Egyptians Abroad Conference witnessed, at its conclusion today, a review of the Micro, Small and Medium Enterprise Development Agency’s services and incentives provided to Egyptians abroad, during the “Facilitations and Benefits for Egyptians Abroad” session. Mohamed Abdel Malek, Vice President of the Micro, Small and Medium Enterprise Development Agency, explained that according to Law No. 152 of 2020, which provides a set of incentives and benefits to support and launch projects to play a fundamental role in driving economic development processes and providing job opportunities for young people, it provides an opportunity for any owner of a project idea to obtain a license for the project’s location by applying to the agency, which facilitates all procedures to implement and support projects away from the traditional steps that may be complicated for some.
The Vice President of the Small Projects Development Agency pointed out that among the advantages of joining the agency is providing a marketing opportunity for owners of small and medium enterprises through government purchases and obligating the state to purchase 20% of the products of projects funded by the agency, which is a major marketing opportunity for project owners, adding that Egyptians abroad can benefit from the services of the Project Development Agency and follow up on their projects through a partner residing in Egypt.
While Representative Dr. Ghada Ali, a member of the Economic Committee in the House of Representatives, spoke about the economic incentives and the climate for attracting investments in Egypt, explaining that work has been done to correct the economic path since 2022, specifically after the Egypt 2022 Economic Conference, which developed an economic strategy that was implemented urgently, noting that Egypt, during the period from June 2022 to June 2024, issued five important laws that stimulate and attract investment, most notably the Green Hydrogen Law, the Law on Supporting Private Sector Companies and Equality between it and Government Companies, and amending the Investment Law, which has created a breakthrough in achieving investor confidence in Egypt.
The conference of Egyptians abroad, organized by the Ministry of Foreign Affairs, Immigration and Egyptian Expatriates Affairs, continued for two days, during which representatives of state agencies exchanged talks and discussions with various categories of Egyptian expatriates, and introduced projects, facts and facilities provided to Egyptians abroad, and learned about their demands and responded to all their inquiries.
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