15 Jun 2022
A recent report by the UNCTAD (The United Nations Conference on Trade & Development) indicated that Egypt was the second largest recipient of FDI in Africa with USD5.12bn. South Africa came in first place, and Mozambique ranked third. Egypt’s FDI was down 12% in 2021 due to lower investments in exploration and production projects for energy and minerals. FDI in the North African region declined by 5% in 2021.
The report pointed to bright prospects for investment in Egypt, citing announcements for new projects worth USD5.6bn in 2021. On top of that, Egypt has also received commitments from Arab Gulf countries such as Saudi Arabia and the U.A.E. for investments of around USD22bn in a variety of sectors.
On a related note, a report by the Arab Investment & Export Credit Guarantee Corporation (Damaan), which studies FDIs in the Arab region, also painted an optimistic picture for Egypt. This report showed Egypt ranking third in attracting FDI in the Arab region, following the U.A.E. and Saudi Arabia. (Sources: UNCTAD (English), Econostrum (English), al-Sharq al-Awsat (English), Sada el-Balad, Capital News Egypt, al-Arabiya, al-Rooya, Euronews, Sputnik)