The Egyptian government revealed that the net foreign direct investment increased by 47.3 percent, or by 1.429 billion dollars, from January to the end of March 2021, compared to the same period last year.
Net foreign investment flows in the non-oil sectors increased by 21.72 percent on an annual basis, at $1.911 billion.
These indicators come in line with the International Monetary Fund's estimates, that foreign direct investments in Egypt will achieve annual growth over the next four years. The net inflows during the third quarter of the fiscal year also achieved a growth rate of 25.72 percent compared to the volume of inflows during the previous fiscal quarter of the same fiscal year.
With regard to comparing the net foreign direct investments received for the purpose of establishing and expanding companies in the non-petroleum sectors, they increased by 32.73% during the third quarter of the fiscal year 2020/2021, and achieved a growth rate of 23.65 percent compared to the second quarter of the same fiscal year. The incoming FDI for the purpose of establishing new companies recorded an upward trend during the third quarter of the current fiscal year 2020/2021, with an increase of 85 percent compared to the first quarter of the same year.
Source (Al-Arabiya.net website, Edited)
