The investment climate report issued by the Arab Corporation for Investment and Export Credit Guarantee showed that Egypt acquired the largest foreign investment in Africa, and the largest recipient of foreign direct investment in Africa in 2020, as inflows to the country accounted for 15 percent of the total $39.8 billion coming to the continent.
Egypt received $5.9 billion in foreign direct investment in 2020, representing 14.5 percent of the $40.5 billion invested in the region that year. It came in second place to receive $19.9 billion in foreign direct investment throughout the year, and Egypt has been the leading destination for foreign direct investment in the region for five consecutive years, with its investments amounting to nearly $124.5 billion.
According to the report, the investment climate in Egypt is improving, as Egypt managed to rise in the Doing Business Index for the year 2020 issued by the World Bank by six places, to reach 114 out of 190 countries. During the index classification period, Egypt implemented four business reforms, registering the second largest number of reforms undertaken among the countries of the Middle East and North Africa. Egypt ranked second among the most attractive Arab destinations for foreign direct investment in 2020, and the largest recipient of foreign direct investment in Africa in 2020, where inflows into the country accounted for 15 percent of the total $39.8 billion coming to the continent.
Source (Youm7 Newspaper Website, Edited)
