Egypt’s total public, private investments rise to $41.7 bln in FY2017/18

Big 5

Egypt’s total public and private investments increased to 721.1 billion Egyptian pounds ($41.7 billion) during the financial year 2017/2018 from 514.3 billion pounds during the financial year 2016/2017, the Cabinet’s media centre said on Monday.

In an infographic published in its Facebook page, the center pointed to a rise in foreign direct investment inflows to Egypt by 84.7 percent to hit $7.72 billion during the financial year 2017/2018 against $4.18 billion during the financial year 2013/2014.

Around 19,836 firms established in the financial year 2017/18, compared with 15,200 ones in the financial year 2016/2017, the centre added.

As for investment zones in the country, the center indicated five investment areas have been up and running in Giza and Sharqia governorates, with total investments worth 11 billion pounds.

These investment zones house 259 projects employing 59,000 workers, it said.

Around 12 new investment areas are being built in the governorates of Cairo, Qalyubia, Sharqia, Alexandria, Faiyum, Giza, Dakahlia, and Damietta, the centre said.

These new areas will house projects in the fields of logistics, nanotechnology, biotechnology, and small and medium-sized enterprises, with total investments to the tune estimated at 78 billion pounds.