Foreign direct investment in Egypt in the non-oil sectors rose to $11.6 billion by the end of the 2021-2022 fiscal year, an increase of 81.3 percent.
According to the Egyptian Cabinet, FDI flows in Egypt achieved the highest rate of increase in the last ten years. The volume of investment in establishing new companies or raising capital amounted to $3.4 billion, an increase of $2.1 billion over the previous fiscal year, constituting 29 percent of net foreign investment.
The volume of investments through the sale of companies and productive assets to non-residents amounted to $2.3 billion, or 20% of the net investment, while the volume of real estate purchases from non-residents reached $970 million, constituting 9 percent of the net foreign investment.
The net capital invested from the public sector increased by 16.2 percent in the fiscal year 2020-2021 compared to the previous fiscal year. The net capital invested from the public sector amounted to 105.6 billion pounds ($5.39 billion). The value of the projects under implementation amounted to 28.4 billion pounds in 2020-2021, compared to 16.1 billion pounds in 2019-20, an increase of 76.6 percent. Wages in the public sector increased by 8 percent, reaching 32.1 billion pounds, compared to 29.7 billion pounds in 2019-2020.
Source (Al-Sharq al-Awsat Newspaper, Edited)
