Egypt’s foreign direct investments fall 15.5% in Q1-FY2017/18: ministry

Egypt’s net foreign direct investments (FDI) fell by 15.5 percent to reach $1.58 billion in the first quarter of this financial year, according to data from the Ministry of Investment and International Cooperation released yesterday.

Egypt’s net foreign direct investment (FDI) stood at $1.87 billion in the first quarter of the last financial year.

Last month, Egyptian Minister of Investment and International Cooperation, Sahar Nasr, said she expected foreign direct investment to reach $12 billion during the current financial year compared to $10 billion in the previous fiscal year.

Egypt ranked eleventh among Arab countries in the Doing Business 2018 report issued by the World Bank in October.

According to the report, Egypt fell by six global points from 128 to 122.

In total, net foreign direct investment in Egypt increased to $7.9 billion in financial year 2016/2017, compared to $6.9 billion in the previous financial year.

Source: Middle East Monitor