Data from the Central Agency for Public Mobilization and Statistics (CAPMAS) in Egypt revealed a significant jump in the value of UAE investments in Egypt during the recent period. This comes in light of the Egyptian government's moves to boost foreign investments in the Egyptian market to contain the dollar shortage crisis.
The value of UAE investments in Egypt recorded about $ 5.7 billion during the fiscal year 2021/2022, compared to $ 1.4 billion during the fiscal year 2020/2021, an increase of 300.8 percent. On the other hand, the value of remittances of Egyptians working in the UAE amounted to about $ 3.5 billion during the fiscal year 2020/2021 compared to $ 3.4 billion during the fiscal year 2019 -2020, an increase of 1.4 percent. While the value of remittances of Emiratis working in Egypt amounted to about $ 39.1 million during the fiscal year 2020/2021 compared to$ 41 million during the fiscal year 2019/2020, a decrease of 4.6 percent.
Source (Al Arabiya.net Website, Edited)
