CAIRO - 9 February2022: Business Insider, the American online platform, nominated Egypt in its list of the top 10 investment destinations in the African continent, as the list included Egypt, along with the countries of Nigeria, South Africa, Algeria, Morocco, Kenya, Ethiopia, Ghana, Angola, and Cote d'Ivoire . It stressed that these statistics also show that Egypt is one of the richest countries. Africa in terms of GDP for the year 2021, as it has the second highest gross domestic product (GDP) in the African continent with a value of $394 billion. The World Investment Report for the year 2020, issued by the United Nations Conference on Trade and Development (UNCTAD), confirmed that Egypt maintained its position as the first destination for foreign direct investment in Africa for the third year in a row, thanks to economic reforms that contributed to macroeconomic stability and enhanced investor confidence in country. It should be noted that foreign direct investment flows to Egypt doubled from $4.6 billion in 2014, to about $1 billion in 2019, before the pandemic spread.

Source: Egypt Today February 09, 2022 21:48 UTC