FDI
"This is an achievable dream," Madbouly remarked during a press conference on Wednesday.
Ehab added that the sector has created approximately 50,000 direct jobs and 250,000 indirect jobs.
In 2023, bilateral trade between Egypt and EU countries tallied at €32.6 billion, the source highlighted.
The FDI in Egypt accounted for 18.6% of Africa’s total investments, reaching $52.6 billion.
The company has founded a complex consisting of four factories worth $12 million.
She noted that in spite of the anticipated economic growth deceleration in 2024 due to Middle East conflicts, the rate is projected to surpass regional average.
Through analyzing the evolution of net foreign direct investments over the past nine years, excluding the COVID-19 period, foreign direct investments entering non-petroleum sectors reached a net flow of $11 billion.
GAFI’s president stressed that the authority is keen to cooperate with HSBC to attract, introduce, and connect more international investors to the growing business opportunities in Egypt
The CBE detailed that net foreign direct investment from July 2022 to March 2023 amounted to approximately $7.945 billion, compared to about $7.348.5 billion in the corresponding period of the previous year, indicating an increase of $596.9 million.
Egypt has solidified its position as an attractive investment destination in Africa and the Arab world.
Egypt is the first investment destination for Arab sovereign funds, led by Saudi investments and Emirati investments, within the Gulf investments in Egypt in general.
It is not an easy quest in some sectors.
The minister, meanwhile, stressed that the Egyptian economy has shown strong performance, resilience and ability to absorb shocks.
Net foreign direct investment in Egypt recorded about $7.3 billion during the period from July 2021 until the end of March 2022, compared to $4.78 billion in the same period of the previous fiscal year.
As such, Egypt acquired 16.4 percent of new FDI in the region.
Thus, net foreign direct investment in Egypt recorded the highest value since the first quarter of 2018, which amounted to $6.9 billion at the time.
The infographic highlights data in the report of the UN Conference on Trade and Development (UNCTAD) on FDI in Egypt, issued in June 2022 .
Maait elaborated that this comes in a manner that ensures raising economic growth rates, creating more job opportunities, and enhancing aspects of spending on improving the standard of living of citizens and upgrading the services provided to them.
The Media Center of the Cabinet released Saturday the figures.
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