Egypt tops African countries recipient of foreign investment for 5th year in a row - News Summed Up

Egypt tops African countries recipient of foreign investment for 5th year in a row


Egypt remained at the forefront of foreign direct investment in Africa for the fifth year in a row in 2020/2021, reaching US$ 5.9 billion, which represents 53 percent of foreign direct investment directed to North Africa. A report by the Ministry of Planning and Economic Development revealed that despite the challenges posed by coronavirus crisis. Egypt remained at the forefront of foreign direct investment recipient countries in Africa for the fifth year in a row in 2020/2021. The report indicated that foreign direct investment increased in the first quarter of 2021/2022 by 4 percent, with inward investment in non-petroleum sectors increasing by 28 percent, including industry, financial services, construction, information technology and communications. The report indicated that the United Kingdom accounts for 34 percent of the total foreign direct investment, followed by the United States.


Source: Egypt Independent May 16, 2022 23:27 UTC



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