Saudi Arabia leads investing countries in Egypt
- Date: 21-Aug-2023
- Source: Zawya
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi Arabia leads investing countries in Egypt
Cairo – Saudi Arabia topped the ten highest investing countries in Egypt during the first half (H1) of the fiscal year (FY) 2022/2023, with investments valued at $2.10 billion.
The Kingdom was followed by the UAE with $1.50 billion, while Italy and the UK injected $1.20 billion investments in the Arab Republic, each.
Egypt’s net foreign direct investment (FDI) reached $5.70 billion in H1-22/23, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
The data highlighted that the recorded value is higher by 75.40% year-on-year (YoY) than $3.30 billion.
Meanwhile, the African country’s FDI inflow value amounted to $66.70 billion over the past 10 years.
In 2022, the trade exchange value between Egypt and Saudi Arabia hit $10.30 billion, up 13.50% YoY from $9.10 billion.
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