COMESA: Egypt acquired 32 percent of investments in COMESA members states during 1st half of 2020

LUSAKA - 25 November 2020: Egypt has acquired 32 percent of the number of investment projects which have been carried out at the Common Market for Eastern and Southern African (COMESA) member states since the beginning of the year and till July 2020, according to a recent report issued by COMESA.

The report, a copy of which received by MENA, said Egypt implemented 32 projects inside the group's member states as a whole. 

Also, around 100 projects of foreign direct investments (FDI) have been implemented during the period of January till July, 2020, compared with 228 projects during the same period of the previous year, recording a decrease of 56.14 percent due to the impact of the coronavirus pandemic.

The largest number of projects in this year were implemented during the month of January, which witnessed the establishment of 22 projects, representing 22 percent of the total projects.

The report mentioned the total value of established investments which reached drls 4.23 billion, recording a setback of 70.95 percent compared with the same period of the previous year.

China is considered the biggest investor inside Africa region with a total of 17 projects, representing 17 percent of the total value of proclaimed projects, followed by UAE (13 percent), then France (9 percent), while Egypt and Saudi Arabia acquired 3 percent.