Egypt is working on the establishment of a company to receive investments from Egyptians working abroad to be pumped into local projects, Asharq Business reported on November 25th, citing the Minister of Emigration and Egyptian Expatriate Affairs Suha Gendy.

Gendy said that the company could be established next year and listed on the stock market.

She added that expatriates would be able to buy shares in the new company or directly invest in it.

Moreover, the minister revealed that the company was one of the requests of Egyptian expatriates, noting that it aims at investing in major and national Egyptian projects with high revenues.

It is worth noting that remittances by Egyptians working abroad decreased to around $20.9 billion in January-August from $21.4 billion in the same period a year earlier.

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