Egypt plans to launch a dedicated investment fund for Egyptians living abroad next year, offering investment instruments with competitive returns and simplified subscription procedures, Minister of Finance Ahmed Kouchouk said on Saturday. Speaking at the seventh annual Egyptians Abroad Conference, Kouchouk said the government is working with leading domestic and international investment banks to complete preparations for the fund.
He added that the government is also developing a digital platform with the Industry Ministry and the Investment and Foreign Trade Ministry to enable investors to establish companies more easily and encourage greater investment by Egyptian expatriates. Kouchouk said Egypt is expanding digital government services and integrating artificial intelligence to simplify procedures and improve access for users in multiple languages.
He added that the government has launched a mobile application for real estate tax services and plans to roll out another app for real estate transactions later this month, both of which will be available to Egyptians abroad. He also said Egypt aims to introduce virtual tax consultation services for Egyptians abroad through specialized tax service centers next year.
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