Net FDI in Egypt surge 94% during Q1 of 2022/2023

Net foreign direct investment (FDI) hiked 94 percent in the first quarter of the current fiscal year 2022/2023 on an annual basis, to hit $3.3 billion, according to the Cabinet.

The Cabinet added, in a meeting held Wednesday, that the permanent unit in the cabinet to support investors has completed more than 80 percent of what was offered to it, which stimulated foreign direct investment numbers during the first quarter of the current fiscal year.

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.  Investments were also distributed in various sectors such as green hydrogen, green ammonia, tourism, industry, financial services and digital transformation