The IDSC’s infographic was based on the Arab Investment and Export Credit Guarantee Corporation’s data released in July
Egypt ranked as 3rd among Arab countries for its foreign direct investment (FDI) inflows in 2021, representing 16.4% of total FDI inflows in the region with $5.4 billion.
According to an infographic published by the Egyptian cabinet’s Information and Decision Support Centre (IDSC), Egypt’s new FDI inflows were directed to 58 projects across 50 companies, creating 9,000 job opportunities within the information technology, financial services, business, and programming sectors.
It explained that the business, software and information technology, and financial services sectors were the top sectors receiving FDIs in 2021.
The IDSC’s infographic is based on the Arab Investment and Export Credit Guarantee Corporation’s data released in July.
Cairo ranked 5th among the important destinations for these investments with 25 projects in 2021, according to the infographic. New Cairo was the most popular district, receiving an average project investment of $506 million.
The IDSC announced last week that Egypt was 2nd in Africa overall in attracting FDI in FY 2021/2022, with the CBE releasing data that revealed that FDI inflows surged by 183.4% during Q1 of 2022.
Egypt is looking to boost its annual FDI inflows to $10 billion to accelerate economic development and increase job opportunities, said Finance Minister Mohamed Maait in June.