Ministry of Emigration aims to increase role of remittances in sustainable development
Nabila Makram, Minister of State for Emigration and Expatriate Egyptians, will launch a conference on Sunday on the role of remittances in supporting investment and sustainable development in Egypt, in cooperation with the International Organization for migration (IOM).
The conference will see the participation of Minister of Planning and Economic Development Hala El-Said and Minister of Finance Mohamed Maait.
Makram said 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, the promotion of cultural heritage, charitable work, as well as trade and investment. A discussion will take place to address ideas and expert contributions to develop recommendations to guide cash transfers towards social and economic development in Egypt.
The immigration minister added that cash transfers are a support contribution for Egyptians abroad. This 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 Egyptians’ remittances abroad, as well as investment and trade, with the aim of developing innovative ways to engage Egyptians in the foreigner to support investment promotion. This is done within the framework of the “Local Development Initiatives in Egypt” project 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 for two days. The first day, after the opening, includes the holding of a seminar entitled “The participation of Egyptians abroad in sustainable development, challenges and opportunities”. The second day includes three workshops, the first titled “Supporting Community Development Efforts Post-Covid-19”: Challenges, Opportunities and Incentives “, the second is titled” Shifting Remittances to Investment: Examining the Investment Opportunities in Egypt ”, and the third is titled“ The Role of Government Institutions and Investment Promotion Entities in Supporting Investments After Remittances ”.
A number of senior officials from various relevant government ministries and 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.