Egypt establishes 32% of COMESA’s projects in 7 months

Egypt has implemented 32 projects in the Common Market for Eastern and Southern Africa (COMESA), accounting for 32 percent of the projects in these countries during the January-July period of 2020, as shown by a report issued by the COMESA.

Egypt has the largest share of the investment projects carried out from January to July 2020, the report added.

Around 100 foreign direct investment (FDI) projects were executed in the first seven months of 2020, down 56.14 percent from 228 projects in the same period of 2019, due to the coronavirus (COVID-19) pandemic.

The report referred that 22 projects were carried out in January, representing 22 percent of the total number of projects.

The total value of these projects reached around $4.23 billion in the January-July period of 2020, down 70.95 percent from $12.4 billion in the corresponding period of 2019.