Saudi Arabia’s direct investment in Egypt records $69.3M in Q1 of 2019/20

CAIRO - 29 January 2020: Saudi Arabia’s direct investment in Egypt dropped 43.3 percent during the first quarter (Q1) of fiscal year 2019/2020, recording $69.3 million, compared to $122.4 million during the same period of the prior year, according to the Central Bank of Egypt (CBE).

CBE clarified in a recent report that foreign direct investment from Saudi Arabia in Egypt decreased by 33.4 percent in the first quarter of 2019/2020 compared to the fourth quarter of 2018/2019, where the foreign direct investment of Saudi Arabia recorded $104 million.

Saudi Arabia’s direct investments in Egypt represent 8.4 percent of the total Arab countries' investments in the first quarter of the current fiscal year, amounting to $824.3 million, compared to $799.2 million in the same quarter of the previous fiscal year, marking an increase of 3.1 percent.

Net foreign direct investment from Saudi Arabia to Egypt reached $ 478.1 million during the 2018-2019 fiscal year, according to the Central Bank of Egypt's data.

The fiscal year in Egypt begins in early July of each year until the end of June of the following year.