A cooperation agreement was signed between the Ministry of Foreign Affairs and the Egyptian Countryside Development Company to provide opportunities for Egyptians living abroad to acquire agricultural land in new development areas and invest in projects related to agricultural activities, according to a statement released on Tuesday, 25 February.
Egyptians living abroad who are interested in participating can visit the Egyptian Countryside Development Company’s website for more information on available agricultural land and the application process.
This initiative is part of the Ministry’s efforts to encourage Egyptians abroad to invest in Egypt and contribute to national development projects. It also seeks to increase the inflow of foreign currency into the Egyptian economy, while supporting the expansion of agricultural investment through land reclamation.
What is the “Your Farm in Egypt” Initiative?
The “Your Farm in Egypt” initiative gives Egyptians living abroad a chance to buy agricultural land in Egypt. Under this program, the company managing the initiative will take care of land reclamation and developing the necessary infrastructure, with costs covered by the buyer. The initiative also offers support for activities like animal farming.
This initiative aligns with Egypt’s national development goals, offering Egyptians abroad a unique opportunity to invest in agriculture, one of the country’s most promising sectors. It also helps direct foreign currency transfers into national projects, which can strengthen Egypt’s economy.
What Are the Benefits?
The land would be offered at special prices, and the company would provide services like infrastructure development and farm management for five years. This makes the process easier for buyers, as they get support for running and maintaining their farms.
Another key benefit is that the initiative protects investors from currency fluctuations, making it a safer investment option for Egyptians abroad.
Why is This Important?
In recent years, remittances from Egyptians abroad have become a crucial part of the economy and a significant source of foreign currency. Recent data shows a 47.1 percent increase in remittances, totaling around USD 26.3 billion (EGP 1.3 trillion) from January to November 2024.
Last week, Egypt’s Ministry of Housing launched the “Your Home in Egypt” initiative, offering Egyptians living abroad the chance to reserve and purchase housing units in 12 premium developments. The initiative’s website, booking system, and details are now available online.
This initiative comes in response to Egypt’s ongoing dollar shortage and the devaluation of the Egyptian Pound, which has dropped by 38.81 percent against the US dollar between January 2024 and January 2025.
