IDSC: Egypt Ranks 3rd FDI Recipient in Arab Region in 2021

Egypt placed third most attractive Arab country for Foreign Direct Investment (FDI) in 2021 with $5.4bn, according to a statement released by the Egyptian Cabinet's Information and Decision Support Center (IDSC).

"Egypt represents 16.4% of total investment inflows in the Arab region during 2021," added IDSC.

IDSC additionally reviews FDI data in Egypt, in which 58 foreign projects were implemented in the North African Country in 2021 by 50 foreign companies, providing more than 9000 new jobs.

"New Cairo came in fifth place on the list with 25 projects.  Software and information technology, and financial services are the most attractive sectors," the statement said.

Minister of Finance Mohamed Maait said in June that Egypt aims to attract $10 billion in FDIs annually in a bid to accelerate economic development and create more job opportunities.