Net Foreign direct investment (FDI) in Egypt increased by 8.1% during the first 9 months of the fiscal year 2022/2023, reaching $7.945 billion, according to data from the Central Bank of Egypt released on Tuesday.

 

The government aims to raise its dollar proceeds from FDI by 10% over the next three years, reaching $13 billion, as stated previously by Prime Minister Mostafa Madbouly.

 

During the first quarter of the fiscal year 2022/2023, the services sector received the most foreign investments, totaling $1.9 billion out of a total of $3.3 billion in foreign direct investments recorded during that quarter. It was followed by the industrial sector with just over $1 billion, and then the construction sector with a value of $1 billion.