Total public, private investments in 2017/18 reached LE 721.1B

CAIRO - 25 March 2019: Total public and private investments in Egypt reached EGP 721.1 billion in the FY 2017/18, compared to LE 514.3 billion in the FY 2016/17, said the cabinet's media center.

In an infographic published in its Facebook page, the center pointed to a rise in foreign direct investment inflows to Egypt by 84.7 percent to hit $7.72 billion in the FY 2017/18, against $4.18 billion in the FY 2013/14.

Around 19,836 companies have been established in the FY 2017/18, versus 15,200 ones in the FY 2016/17, the center added.

As for investment zones in the country, the center indicated five investment areas have been up and running in Giza and Sharqia governorates, with total investments of LE 11 billion. These investment zones house 259 projects employing 59,000 workers, it said.

Around 12 new investment areas are being built in the governorates of Cairo, Qalyubia, Sharqia, Alexandria, Faiyum, Giza, Dakahlia and Damietta, the center said.

These new areas will house projects in the fields of logistics, nanotechnology, biotechnology and small and medium-sized enterprises, with total investments to the tune of LE 78 billion, the center noted.