Egypt to receive $21.5B from foreign investments: ECS Chief

CAIRO - 13 December 2023: In the near future, Egypt will receive $21.5 billion from foreign investments. These investments will be distributed as follows: Indian investments amounting to $13 billion, Turkey $3 billion, Belgium $3 billion, and China $2.5 billion.

Head of the Egyptian Commercial Service (ESC), Yahya Al-Wathiq Billah, made this announcement during his participation in the Food Africa exhibition.

He also highlighted the upcoming investments from Qatar, emphasizing the promising opportunities for Egypt's participation in the Free Trade Agreement and COMESA.

He stressed that the volume of industrial investments in Egypt amounts to $75 billion, and the equivalent of approximately $35 billion is exported annually.

In December, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed that Egypt's total exports in 2022 amounted to $52.1 billion, showcasing a notable increase from $43.6 billion in 2021, marking a growth of 19.4 percent.

The distribution of exports unfolded as follows: non-oil exports reached $35.5 billion in 2022, compared to $32.6 billion in 2021, reflecting a rise of 9 percent. Additionally, petroleum exports totaled $16.6 billion in 2022, a substantial increase of 50.1 percent compared to $11.0 billion in 2021.