UAE, UK are Egypt’s top foreign investors in FY2019/2020

The UAE and the UK were Egypt’s two biggest foreign investors during the 2019/2020 financial year, recent government data showed.

According to a report issued by the Egyptian Cabinet’s information and decision support centre, the volume of foreign investment flowing into Egypt grew 26.4 percent to $15.8 billion in 2019/2020, from $12.5 billion in 2015/2016.

With $4.8 billion, Britain ranked first in terms of the size of foreign investments in Egypt over the time period, followed by the UAE with investments worth $1.6 billion.

The UAE was the highest in the Arab region in terms of its inflows to Egypt, up from $800 million in 2016/2017.

The report also showed that the oil sector accounted for 49 percent of all foreign direct investments in Egypt in 2019/2020.