Egypt to launch platform to improve FDI data accuracy

Egypt will launch a digital platform to collect and analyse corporate financial statements to improve the accuracy of key economic indicators, including foreign direct investment (FDI) and national savings, Investment Minister Mohamed Farid said on Tuesday.

Farid announced the initiative during a meeting chaired by Prime Minister Moustafa Madbouly to review projects and initiatives under the Ministry of Investment and Foreign Trade.

Farid said Egypt’s Investment Law and its executive regulations require companies to disclose foreign investment data to the General Authority for Investment and Free Zones (GAFI) for statistical purposes, helping improve the accuracy of FDI data.

The platform will collect and analyse corporate financial statements submitted under Companies Law No. 159, supporting the compilation of key economic indicators.

Farid said the ministry had contacted foreign embassies to notify companies of the disclosure requirements and organised workshops to help businesses from different sectors complete foreign investment disclosure forms.

The government has been working to improve the quality of official economic data as part of broader efforts to strengthen policymaking and attract investment.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser