FINANCIAL NEWS

Net FDI in Egypt grows by 14.5pct in 2016/17

13 Sep 2017

(MENAFN) Egypt’s net foreign direct investment (FDI) increased by 14.5 percent to USD7.9bn in 2016 and this year, as proclaimed the central bank.

Moreover, that was well below the country’s aim of USD110bn as the nation continues to struggle to attract foreign investment following a 2011 uprising.

In addition, there was an USD2.3bn increase in net inflows for oil sector investments to USD4bn.

The country paid almost USD2.2bn in arrears owed to foreign oil firms in the second half of 2016-2017, which helped attract investors to the sector.

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MENAFN1309201700450000ID1095850585

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