UAE increases Investments in Egypt sixfold in Q1 – CBE

The United Arab Emirates has boosted its investments in the Egyptian market six times in the first quarter of 2015, seizing the lion’s share of Gulf investments in Egypt; 62.6%.

The latest report released by Egypt’s Central Bank (CBE) Saturday stated that the Emirati investments in Egypt has recorded US$843 million at the end of March 2015 compared to US$131 million at the end of 2014.

It showed that the total investments of Gulf States in Egypt recorded US$1.346 billion at the end of March 2015 compared to US$ 310 million at the end of 2014, marking US$ 1.036 billion-increase.

Following UAE, Saudi Arabia has boosted its investments in the Egyptian market to US$351 million at the end of March 2015, capturing 26% of total investments.

The report showed that the Kuwaiti investments in the Egyptian market has reached US$50 million at the end of March 2015 opposed to US$25 million at the end of 2014.

On other side, Qatar’s investments in the Egyptian market remained with no change in value of US$35 million while the Bahraini investments have registered US$29 million at the end of March 2015.

Moreover, CBE’s report has showed that the total volume of the foreign direct investments has increased by US$1.987 billion from US$960 million at the end of 2014 to US$2.947 billion at the end of March 2015.