Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Planning Min.: Foreign Investment in Egypt Grew by More than 90% in 2022

Fri 03 Feb 2023 | 08:46 PM
Ahmed Moamar

A report authored by the Ministry of Planning and Economic Development revealed that foreign investment in Egypt rose by more than 90% over the past year.

The report stressed the importance of foreign direct investment as a top priority for the government.

It added that Egypt will be among the countries that enjoy the strongest investment momentum in the region.

On the performance of the Egyptian economy, the report indicated that a growth rate of 6.6% was achieved in the fiscal year 2021/2022 despite the challenges, of 4.8, 5% during the current fiscal year.

These rates are relatively high rates, driven by productive sectors such as tourism, communications and information technology, agriculture, logistics and retail services, and Suez Canal activity.

The report pointed out that the tourism sector is witnessing a very strong performance.

The tourism sector is enjoying an increase in the number of tourists by 55% in the first quarter of the current fiscal year compared to last year.