Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

OECD Raises Egypt's Attraction for FDI Index


Sat 02 Feb 2019 | 08:48 PM
Taarek Refaat

By: Taarek Refaat

CAIRO, Feb. 2 (SEE)- The Organization for Economic Co-operation and Development (OECD) has raised Egypt's rating in attracting foreign direct investment (FDI), confirming a Lower-risk investment in the country from Level 6 to 5.

According to a statement issued by the Ministry of Investment and International Cooperation on Saturday, the progress in the classification of Egypt was the result of the country's efforts in improving the investment climate through creating a supportive environment for investment flows from European countries.

Only Egypt, Albania, Kazakhstan, and Uzbekistan's classifications were raised among 201 countries.

The increase in Egypt's rating will contribute to the attraction of more capital, which will provide better financing for major national projects in the country.

Minister of Investment Sahar Nasr noted that the coming period will witness the implementation of a cooperation strategy between Egypt and the OECD, pointing out to the large and perse investment opportunities in the country.

Nasr met with Secretary General of the OECD Angel Gurría during her participation in the Financing for Sustainable Development forum held last month in Paris. Gurría asserted Egypt's leading role in the field of development in recognition of its reform program.