The Minister of Immigration receives one of the largest Egyptian investors in Sweden
Ambassador Soha Gendy, Minister of State for Immigration and Affairs of Egyptians Abroad, received Mr. Sameh Samy, CEO of the Egyptian-Swedish Company for SMS Projects, and his accompanying delegation, which deals with waste recycling, energy production and construction works. to present the features of the project implemented by the Egyptian Joint Stock Company for the establishment of factories specialized in waste recycling on an area of about 370 hectares, in the Al-Wafaa and Al-Amal cemeteries, in cooperation with state institutions and numerous international partners, in the presence of Dr. Saber Suleiman, assistant Minister of Immigration for Communities, and Mr. Wassim Zaki, Financial Advisor to the Ministry.
For her part, Ambassador Soha Gendi welcomed all efforts that are in line with the country’s strategy for sustainable development and clean energy production, in line with Egypt’s organization of the COP27 Climate Summit, hosted by Sharm El-Sheikh last November, and emphasized the provision of all funds to support the contributions of Egyptians abroad and provide investment opportunities for them at home Presenting the opportunities offered by different parties, overcoming any obstacles they may face and connecting them with the executive authorities within the ministry’s roles in communicating with Egyptian investors abroad.
The Minister of Immigration praised the success of Egyptians abroad and their desire to transfer part of their projects to their homeland in order to take advantage of the development opportunities in the country, noting that the waste recycling project is one of the most important national projects to meet an urgent need in a prominent area that ensures the achievement of financial returns with high profitability and meets environmental protection requirements in accordance with international standards.
The Minister of Immigration added that we want to coordinate efforts with the ministries and institutions of the Egyptian state. In order to overcome all the obstacles facing the investment of Egyptians abroad within Egypt, highlighting the desire to transfer the great experiences of Egyptians abroad to Egypt, as part of the recommendations of the “Egypt Can” conferences to support the localization of industry in Egypt, within the plans of the political leadership in the new republic to maximize the transfer of knowledge and support local product, limit imports, with the challenges that the world is witnessing.
Ambassador Soha Gendi spoke about the details of the launch of an Egyptian joint stock company for Egyptians abroad in response to their requests, as she proposed that the shares be allocated to Egyptian investors abroad who want to invest in the company, as part of plans to launch a company for Egyptians abroad and investment fund, which was welcomed by the president of the company’s management.
Pointing out that he is fully ready to discuss the details and framework of cooperation with the ministry, thanking Ambassador Suha Gendy for the support the Ministry of Immigration provides to Egyptian experts in various fields abroad. The Minister of Immigration, for his part, invited the head of an Egyptian-Swedish company to participate in the seventh edition series of conferences “Egypt Can” To support investments and production during 2023.
For his part, Sameh Sami, CEO of the company, explained that Egypt is one of the best countries for investment, with its large workforce, with the diversity of investment opportunities in different areas under development plans that make the Egyptian market one of the most promises to achieve high profits compared to other countries.
He explained that the “Egyptian-Swedish Company for SMS Projects” has a capital of 100 million Egyptian pounds and is an Egyptian joint stock company, explaining that there is a great added value that the company will provide by disposing of millions of tons of organic waste estimated at approximately (40 ) million cubic meters. It includes the rates of perishability, along with the utilization of waste on site, and the conversion of such waste into useful gases, the production of electricity, biofuels and organic carbon. , as well as coordination with competent authorities through cooperation with the international coalition and competent state agencies in order to maximize the use and recycling of solid waste to serve the environment.
Sameh added that the project is labor-intensive and provides job opportunities for around 5,000 young people, with 25,000 indirect employment opportunities, and is in line with the government’s plans to switch to green energy.
He explained that the transfer of waste recycling and recycling technology from abroad has been agreed, which will be implemented in Egypt, in cooperation with the Ministry of Military Production and the Arab Industrialization Organization, with a local production rate of 60 percent, with plans to launch an integrated city during the second phase of the project , immediately after the end of waste removal and benefit from it, because the project includes the establishment of an integrated city that includes branches of international universities, where contracts have been signed with the Swedish University “Uppsala” and the Italian University “Barry”, which are ranked among the best universities in the world, within the framework of President Abdel Fattah El-Sisi’s directives not to negotiate with foreign universities outside the ranking of the 500 most important universities in the world.
The project also includes an integrated urban planning plan, the construction of 3 and 4 star hotels, adding that there are about 6 other sites for landfills, which will also be generalized by experiment, turning into wood forests after recycling waste using portable factories in waste areas.
At the end of the meeting, the Minister of Immigration praised the enormity of the project in its various phases, which is an integrated resource management model, praising the desire of Egyptian investors abroad to transfer their experiences to Egypt, stressing that the Ministry of Immigration wants to coordinate the creation of investment opportunities for Egyptians abroad and respond to their effective proposals, which are in accordance with the policy of the Egyptian state.