Initiative seeks to raise money from engineers to support Egyptian economy

Engineers Syndicate members launched a new initiative to raise LE12 billion from engineers working in Gulf countries in order to support the Egyptian economy during 2012. According to the initiative, money from the engineers’ bank accounts in these countries would be transferred to Egyptian bank accounts in order to bring foreign currency into Egypt.

Syndicate Chairman Maged Khulusy told Al-Masry Al-Youm that “the syndicate will hold a number of conferences for Egyptian engineers in the Gulf States to explain the country's economic situation and how they could contribute to Egypt during this time.”

He said that a delegation from the syndicate under his leadership will hold such a conference on 26 January in Qatar. He added that another conference will be held in Saudi Arabia in April to discuss investment opportunities in Egypt with Arab investors.

Khulusy said the initiative will continue for one year and that the syndicate will not be involved in the money transfers as these will be the responsibility of the engineers themselves. He went on to say that everything will be done in a legal and official manner.

Translated from Al-Masry Al-Youm

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