Jordan’s ongoing investments worth $512 mln in Egypt: ambassador

Jordanian investments in the Egyptian market reached $512 million in 1,527 companies, the ambassador of Jordan’s Hashemite Kingdom to Egypt said Monday.

Ali Al Aayed further added that these companies operate in the sectors of telecom, construction, agriculture, industry, and services, according to a statement.

Earlier, Aayed made his remarks during a meeting with the Egyptian minister of industry and trade Tarek Kabil.

A number of Jordanian companies target raising their investments in Egypt in the next period, the ambassador indicated.

Foreign direct investment (FDI) in Egypt increased 39 percent to $4.3 billion during the first half of financial year 2016/2017, compared with $3.1 billion during the same period of financial year 2016/2015.

Egypt is planning to attract investments of $10 billion per year to push five percent-growth, then to five-eight percent within the next three years.

Source: Mubasher