Foreign Direct Investments
"This is an achievable dream," Madbouly remarked during a press conference on Wednesday.
FDI outflows from Egypt saw a 14 percent increase year-on-year, totaling $390 million in 2023, as per the report
Heiba made this announcement while participating in a New Development Bank (NDB) seminar in Egypt.
“Ensuring a flexible exchange rate system is one of the IMF’s prerequisites for the loan, and this is what the Central Bank of Egypt is focusing on,” Economic Expert Karim Nassar stated in an interview with Egypt Today.
Discussing foreign investments, Heiba highlighted that Egypt has placed a keen eye on promoting green and renewable energy projects, and has recently signed nine framework agreements since COP27 with investments worth $50 billion over the next ten years
Egypt could attract about 38 percent of the FDIs, followed by Tunisia and Sudan with 9 and 8 percent, respectively, said the report.
Egypt’s net foreign direct investments (FDI) have increased to $13.3 billion in the last fiscal year (FY) 2016/2017, with a 6.5 percent increase.
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