Egypt’s net foreign direct investments have recorded $66.7 billion over the past ten years, according to data revealed by the Central Agency for Public Mobilization and Statistics.
The agency clarified in a statement on Sunday that the net value of direct foreign investment reached $5.7 billion during the first half of the fiscal year 2022-2023, compared to $3.3 billion for the same period of the previous fiscal year, marking an increase of $2.4 billion, or 75.4%.
The statement pointed out that Saudi Arabia topped the list of the ten highest investing countries in Egypt during the first half of the fiscal year 2022-2023. The kingdom’s investments amounted to $2.1 billion, followed by the UAE with $1.5 billion, Italy with $1.2 billion, the UK with $1.2 billion, the US with $1 billion, Luxembourg with $705.7 million, the Netherlands with $641.4 million, China with $418.6 million, Switzerland with $388.6 million, and lastly, Kuwait with $282.2 million, as reported by the official Middle East News Agency of Egypt.
The Central Agency for Public Mobilization and Statistics also mentioned that the number of companies established in accordance with the investment laws reached 31.2 thousand during the fiscal year 2021-2022, compared to 28.5 thousand in the previous fiscal year, marking a rise of 9.2%. The capital value of these companies amounted to 117.4 billion Egyptian pounds in the fiscal year 2021-2022, compared to 84.9 billion pounds in the fiscal year 2020-2021, an increase of 38.3%.
