The United Nations Conference on Trade and Development (UNCTAD) revealed that Egypt has become the top investment destination in Africa for the second year in a row, despite the global economic repercussions. While it ranked 32nd globally in attracting foreign direct investment in 2023.
According to UNCTAD, foreign direct investment in Egypt accounted for 18.6 percent of total investments in Africa, which amounted to $ 52.6 billion in 2023. The report showed the emergence of Egypt as an investment destination in the automotive, pharmaceutical, and electronics sectors, and the introduction of a one-stop shop system to facilitate investment procedures in 2023. The report indicated that Egypt recorded an increase in investment flows since 2014 amounting to $ 9.8 billion in 2023, compared to $ 9 billion in 2019, and $ 4.6 billion in 2014.
Source (Al Khaleej Emirati Newspaper, Edited)
