Egypt ranks 3rd among Arab countries in FDI inflows in 2021

CAIRO – 1 August 2022: The Cabinet's Information and Decision Support Center (IDSC) released Monday an infograph showcasing that Egypt ranked third among Arab countries in foreign direct investment inflows in 2021 with $5.4 billion.

As such, Egypt acquired 16.4 percent of new FDI in the region embodied in 58 projects carried out by a total of 50 companies and that created 9,000 jobs. Those were mostly in the sectors of business services, programming, information technology, and financial services.

IDSC announced last week that Egypt ranked second in Africa in terms of attracting FDI in FY2021/2022, as it surged by 183 percent in the first quarter of 2022, to record $4.1 billion, compared to $1.4 billion in the same period of 2021.

Minister of Finance Mohamed Mait stated in June that the government aims to attract $10 billion in FDI annually. “We aim to record a growth rate of more than 6 percent, a primary surplus of 1.2 percent, a reduction in the overall budget deficit to 6.1 percent, and a debt ratio of about 86 percent by the end of this month,” he added.