Net foreign direct investment (FDI) inflows rose by 71.4% to hit about dlrs 8.9 billion during last fiscal year (FY) 2021-2022, if compared to the same period last fiscal year (FY) 2021-2022.
This is the highest increase to be recorded in ten years, according to a report submitted by CEO of the General Authority for Investment and Free Zones (GAFI) Mohamed Abdel Wahab to Prime Minister Mostafa Madbouly.
Abdel Wahab pointed out to the data released by the Central Bank of Egypt (CBE) which said that such an increase in FDI flows is attributed to the upsurge in investments in the non-petroleum sectors, which registered about dlrs 11.6 billion, with an increase rate of 81.3% if compared to the previous FY 2020-2021.
Abdel Wahab also pointed out to the relentless efforts exerted by GAFI in luring more foreign investments to the targeted sectors.
