Egypt’s FDI records $6 bln in 9 months

Foreign direct investment (FDI) in Egypt have risen to about $ 6 billion during with the nine months that ended in March 2018.

The petroleum sector has captured $3.4 billion of these investments.

Egypt has also achieved foreign direct investments inflow of $10.2 billion while the FDI outflow registered $4.2 billion.

The investments in securities portfolio have increased to record total inflow of $14.9 billion while the foreign investments in the Egyptian treasury bells  have  recorded $11.5 billion.

Egypt passed a new investment law in 2017 that offers foreign investors a bundle of incentives that includes tax breaks and rebates.

It also deals with bureaucratic problems, promises the simplification of procedures, and provides guarantees for investors.

The new investor service centers are part of the government’s efforts to boost investment; they bring together all the agencies that an investor might need in one place, including the Real Estate Registration Office, the Commercial Register, the Chambers of Commerce and the Financial Regulatory Authority.