Egypt's Net FDI Inflows Surge 12.3% to $10 bn

The Central Bank of Egypt (CBE) announced an increase in the net inflow of foreign direct investment (FDI) in Egypt, recording $10 billion, compared to about $8.9 billion.

The Central Bank revealed that the net inflow of foreign direct investment into Egypt increased by 12.3% to record about $10 billion, by the end of the 2022-2023 fiscal year. In contrast, securities portfolio investments in Egypt continued to achieve a net outflow of $3.8 billion.

The Central Bank added in its balance of payments performance report, Wednesday, that FDI in non-petroleum sectors achieved a net inflow of $11 billion, compared to $11.6 billion, as a result of the increase in investments to establish new companies or increase the capital of existing companies by $497.2 million to record $4.1 billion, of which $310.6 million were funds received to establish new companies and an increase in net profits to $4.8 billion, compared to about $4.7 billion.

The report showed an increase in FDI in the petroleum sector as a result of increases in total inflows from new investments by foreigncompanies, reaching $5.6 billion compared to about $4.7 billion.