Investment

Egypt tops African countries recipient of foreign investment for 5th year in a row

 

Egypt remained at the forefront of foreign direct investment in Africa for the fifth year in a row in 2020/2021, reaching US$ 5.9 billion, which represents 53 percent of foreign direct investment directed to North Africa.

A report by the Ministry of Planning and Economic Development revealed that despite the challenges posed by coronavirus crisis.

Egypt remained at the forefront of foreign direct investment recipient countries in Africa for the fifth year in a row in 2020/2021.

The report indicated that foreign direct investment increased in the first quarter of 2021/2022 by 4 percent, with inward investment in non-petroleum sectors increasing by 28 percent, including industry, financial services, construction, information technology and communications.

The report indicated that the United Kingdom accounts for 34 percent of the total foreign direct investment, followed by the United States.

The report stated that Egypt has improved the business environment, which includes benefiting from and building on institutional and legislative reforms, such as the new investment and bankruptcy laws, as well as amending the Public-Private Partnership Law and amending the capital market Law.

The report pointed to the launch of the National Structural Reform Program, which includes a set of supporting pillars, including increasing the relative weight of the industrial, agricultural, communications and information technology sectors in the Egyptian economy.

In addition to improving the efficiency of the labor market and technical and vocational education and training through developing the technical education and vocational training system and setting the institutional framework to activate the role of the private sector in education and training, integrating the supply and demand sides of the labor market, and empowering women, youth and people with special abilities.

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