Saudi Arabia becomes highest investing country in Egypt

Saudi Arabia was the highest investing country in Egypt during the first half (H1) of the fiscal year (FY) 2022/2023, with total investments worth $2.10 billion.

While, the UAE came in the second place with investments worth $1.50 billion, followed by Italy and the UK which had investments worth $1.20 billion each.

According to the Central Agency for Public Mobilisation and Statistics (CAPMAS), Egypt’s net foreign direct investment (FDI) reached $5.70 billion in H1.

CAPMAS also said that the recorded value is higher by 75.40 percent year-on-year (YoY). The country’s FDI inflow value reached $66.70 billion over the past ten years.

The trade exchange between Egypt and Saudi Arabia reached $10.30 billion in 2022, up by 13.50 percent YoY from $9.10 billion.