News

Syrian Refugees Contributed over $US 800 Million to Egypt’s Economy Since 2011: UNDP Report

Syrian Refugees Contributed over $US 800 Million to Egypt’s Economy Since 2011: UNDP Report

Photo Credit/ Reuters

The total capital invested by Syrians refugees and their Egyptian partners throughout their working period since 2011 has been estimated at nearly $US 800 million, according to a report released by the United Nations Development Programme (UNDP).

Syrian refugees are thought to have contributed to Egypt’s economy with more. However, Syrian businesses don’t frequently register under an Egyptian name, or at all.

Syrian businesses vary from large factories, micro enterprises in diverse sectors including textiles, restaurants, local markets, and IT firms.

The report added that these businesses are also reportedly hiring Egyptians and training them. They also bring expertise and boost exports. Egypt has proven to be an attractive location to Syrian refugees despite the difficulties of starting a business in Egypt in general.

Syrians are also finding their way to integrate into the labor market. Interviews conducted by UNDP indicate that Syrians work in restaurants, textile industry, and food production. Egypt’s economy is large enough to absorb them, especially that Egyptians and Syrian speak the same language.

In order to ease up the recognition of their certifications and academic qualifications, there are ongoing efforts to comprehend the Syrian educational certifications to be transferred under Egypt’s current law. Egypt has also agreed to allow Syrian community schools that will employ about 2,000 Syrian teachers.

Conversely, the report said that Egypt has a weak private sector, which results in hard conditions for businesses to start, and doubling these challenges for Syrians including insufficient access to banking and inability to bring skilled Syrian staff to Egypt. Also, the process of obtaining residency permits restricts the Syrian refugees from participating in the formal labour market.

Egypt currently has 120,000 registered Syrian refugees. However, as not all of them are registered, the Egyptian government believes that their number reaches 500,000.

Sudan President Accuses Egypt of “Occupying Sudanese Lands”
Trump Intends to Visit Cairo Soon: Egyptian Presidency

Subscribe to our newsletter


News

More in News

Sudan Protests to United Nations Over Egyptian Voting in Disputed Area

Egyptian StreetsApril 19, 2018

300 Artifacts on Display at the Egyptian Museum for the First Time in Temporary Exhibition

Egyptian StreetsApril 19, 2018

Egypt’s Military Declares IS Leader is Killed in Sinai

Egyptian StreetsApril 18, 2018

102 Churches to be Legalised in Egypt

Egyptian StreetsApril 18, 2018

Egypt’s Unemployment Rate Drops to 11.8 Percent In 2017

Egyptian StreetsApril 16, 2018

Egypt’s El Gouna International Squash Open Gears Up to Feature Heated Matches

Egyptian StreetsApril 15, 2018

Egypt Extends State of Emergency For 3 More Months

Egyptian StreetsApril 14, 2018

US, UK, France Launch Strikes Against Syria

Egyptian StreetsApril 14, 2018
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2017 Egyptian Streets. All Rights Reserved.