Rédaction Africa Links 24 with MENA
Published on 2024-02-06 10:43:46
The Egyptian government has announced its plans to build three million housing units in a new development initiative. According to Minister of Housing Utilities and New Urban Communities Assem al-Gazzar, the government is seeking foreign investment for this large-scale project. This aligns with the government’s interest in digital transformation, supporting investment, and facilitating investment services. As part of this initiative, the government has launched a foreign investment portal to allow investors to apply for investment opportunities in new cities using funds remitted from abroad.
The foreign investment portal can be accessed through the following link: https://foreigninvest.newcities.gov.eg/#. This portal provides a convenient platform for international investors to participate in the development of new cities in Egypt. By enabling investors to apply for investment opportunities in dollars remitted from abroad, the government aims to attract foreign capital and expertise to support the construction of the three million housing units.
Deputy chairman of the New Urban Community Walid Abbas emphasized the importance of providing detailed information when applying for investment opportunities through the portal. He highlighted that investors are required to enter all relevant data, including their ID number, email, and phone number, to activate their account.
The launch of the foreign investment portal is a significant step towards attracting international investment in Egypt’s new urban development projects. By providing a streamlined and transparent platform for foreign investors to participate in the country’s ambitious construction plans, the government is demonstrating its commitment to fostering a conducive investment environment.
The decision to focus on digital transformation in the investment process reflects the government’s recognition of the importance of leveraging technology to drive economic growth and development. By embracing digital platforms and online portals, the government is not only making investment opportunities more accessible to international investors but also signaling its willingness to adapt to modern investment practices.
The construction of three million housing units is a colossal undertaking that requires substantial financial and technical resources. By actively seeking foreign investment through the newly launched portal, the government is demonstrating its openness to collaboration and partnership with international stakeholders. This approach not only diversifies the sources of funding for the development project but also brings in valuable expertise and knowledge from global investors.
In conclusion, the launch of the foreign investment portal marks a significant milestone in Egypt’s efforts to attract international investment for its new urban development projects. By creating a user-friendly platform for foreign investors to apply for investment opportunities, the government is signaling its commitment to facilitating foreign investment and fostering a favorable investment environment. As the country embarks on the construction of three million housing units, foreign investment will play a crucial role in supporting and accelerating this ambitious development initiative.
Read Original article on Egypt Independent
