Egypt 2nd in FDI in AfricaSource: www.export-egypt.com 6/27/2016, Location: Africa |
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 According to the World Investment Report 2016 issued by the United Nations Conference on Trade and Development (UNCTAD), Egypt came second in Africa in attracting Foreign Direct Investments (FDI) during 2015.
A degree of investor confidence appears to have returned to North Africa as FDI flows rose by 9 per cent to $12.6 billion in 2015. Much of the growth was due to investments in Egypt, where FDI flows increased by 49 per cent to $6.9 billion, driven mainly by the expansion of foreign affiliates in the financial industry (CIB Bank and Citadel Capital) and pharmaceuticals (Pfizer). Egypt’s inward FDI also benefitted from sizable investments in telecommunications, such as the purchase of Mobile Towers Services by Eaton Towers (United Kingdom) and continuing investment in the gas industry by Eni (Italy). The report predicts that Egypt and Morocco tops the list of the most attractive for foreign direct investments in African countries in 2016. |
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