Egypt reported a record-breaking foreign direct investment (FDI), reaching around $23.7 billion in the period between July 2023 and March 2024, a central bank data showed on Wednesday. This significant increase is primarily attributed to the influx of $18.2 billion in FDI during the first quarter of 2024. Net FDI inflows recorded $31.5 billion, including around $21.0 billion during the first quarter of 2024. The Ras El Hekma development project received a significant boost from the UAE, with $15 billion in funding, contributing significantly to the overall increase in FDI. Geographical Distribution of FDI in Egypt Arab countries were the primary source of the FDI inflows, contributing $18.6 billion during the July 2023 and March 2024, compared to only $3.8 billion in the July 2022 and March 2023. The United Arab Emirates was the largest investor, with $17.2 billion in net FDI flows, including $15.6 billion in the first quarter of 2024. Net FDI inflows from Morocco increased by 87.5 per cent to $127.0 million. However, net inflows from Saudi Arabia fell by approximately $1.7 billion, reaching $364.2 million. Similarly, net inflows from Bahrain and Qatar fell by $33.2 million to $184.1 million and $31.9 million to $305.6 million, respectively. (US$ mn) July /March FY 2022/2023 FY 2023/2024 Change in Net Flows Inflows Outflows Net Flows Inflows Outflows Net Flows Total Flows 18016.9 10071.5 7945.4 31545.4 7833.1 23712.3 15766.9 Arab countries 6159.0 2374.7 3784.3 20089.4 1533.0 18556.4 14772.1 EU 5203.3 3862.0 1341.3 3933.1 3178.0 755.1 (586.2) UK 1590.8 1330.3 260.5 2317.5 1088.3 1229.2 968.7 USA 1735.3 1185.3 550.0 1940.3 1099.8 840.5 290.5 Other countries 3328.5 1319.2 2009.3 3265.1 934.0 2331.1 321.8
Attribution: The Central Bank of Egypt Subediting: M. S. Salama Download
