U.S. investments in Egypt rise 26% in 2019 – PM

U.S. investments in Egypt rose 26 percent to more than $22 billion in 2019, Egyptian Prime Minister Moustafa Madbouly said on Monday.

Madbouly made these remarks at an event organised by the U.S. Chamber of Commerce  marking the 40th anniversary of the U.S.-Egypt Business Council.

“Egypt’s economy had become one of the world’s top 10 economies in terms of attracting direct foreign investments and growth rates,” he said.

Such investments were made by more than 1,500 US companies operating in different economic fields, including oil, renewable energy, agriculture, foodstuff, industry, communications and information technology.

Madbouly underlined that Egypt held the first position in attraction of foreign direct investments in Africa.

Source: MENA