By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt to issue new bonds for climate, social goals
    Egypt to issue new bonds for climate, social goals
    September 27, 2023
    Saudi Public Investment Fund eyes stake in Palm Hills Development
    Saudi Public Investment Fund eyes stake in Palm Hills Development
    September 27, 2023
    UNDP, MBRF launch online learning initiative for Arab countries
    UNDP, MBRF launch online learning initiative for Arab countries
    September 27, 2023
    Egypt Post invests in Roaderz platform to enhance e-commerce, delivery services
    Egypt Post invests in Roaderz platform to enhance e-commerce, delivery services
    September 27, 2023
    GAFI to grant 45 more golden licences to boost investment
    GAFI to grant 45 more golden licences to boost investment
    September 27, 2023
  • Politics
    PoliticsShow More
    Egypt’s Irrigation Minister highlights climate challenges for water sector
    Egypt’s Irrigation Minister highlights climate challenges for water sector
    September 27, 2023
    CCCPA, Senghor University join forces for African peace, development
    CCCPA, Senghor University join forces for African peace, development
    September 27, 2023
    Arab League chief urges more funding, investment for food security
    Arab League chief urges more funding, investment for food security
    September 27, 2023
    Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
    Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
    September 27, 2023
    vPalestine urges international action to end Israeli occupation, crimes
    Palestine urges international action to end Israeli occupation, crimes
    September 26, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: FDI records $2.8bn in first half of 2013/2014 fiscal year
Share
Notification
Latest News
Genetically engineering associations between plants and nitrogen-fixing microbes could lessen dependence on synthetic fertilizer
Genetically engineering associations between plants and nitrogen-fixing microbes could lessen dependence on synthetic fertilizer
Science
Earthworms contribute to 6.5% of global grain production, says new research
Earthworms contribute to 6.5% of global grain production, says new research
Science
Researchers build and test a framework for achieving climate resilience across diverse fisheries
Researchers build and test a framework for achieving climate resilience across diverse fisheries
Science
Egypt to issue new bonds for climate, social goals
Egypt to issue new bonds for climate, social goals
Business
Saudi Public Investment Fund eyes stake in Palm Hills Development
Saudi Public Investment Fund eyes stake in Palm Hills Development
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > FDI records $2.8bn in first half of 2013/2014 fiscal year
Business

FDI records $2.8bn in first half of 2013/2014 fiscal year

Doaa Farid
Last updated: 2014/05/11 at 5:48 PM
By Doaa Farid 2 Min Read
Share
SHARE

Foreign direct investments (FDI) registered $2.8bn in the first half of the 2013/2014 fiscal year (FY), chairman of the General Authority for Investment and Free Zones (GAFI) Hassan Fahmy said Sunday. The number represents a positive economic outlook when compared to $3bn FDI in FY 2012/2013, he added.

Fahmy made the statement during his speech at the “Business Climate Reforms in Egypt” conference, which was organised by the MENA-Organisation for Economic Cooperation and Development’s (OECD) Investment Programme, aimed at discussing methods of stimulating local and foreign investments.

There are several indications pointing to a better economic and investment situation in Egypt despite the current challenges, Fahmy said, mentioning that more than 8,900 companies have been established in FY 2012/2013, compared to 2,890 in FY 2000/2001.

Fahmy noted that the number of companies founded every month ranges from 750 to 800.

Speaking at the conference, Chairman of the Confederation of European Egyptian Business Associations (CEEBA) Nader Riad stressed the importance of streamlining government procedures in order to boost investments.

During his speech, European Union (EU) Ambassador to Egypt James Moran said the recently approved Investment Law, which prevents third parties from challenging contracts between the government and investors, would encourage European investors to come to Egypt.

Moran pointed out that the volume of trade between Egypt and EU countries amounts to €24bn.

Egypt decided to follow an expansionary fiscal policy in 2013/2014 and to adopt pro-investment policies, in order to unlock investment challenges, said Deputy Minister of Industry, Foreign Trade and Investment Nevine Al-Shafei.

The conference was organised in partnership with Ministry of Industry, Foreign Trade and Investment, GAFI and the European Union delegation to Egypt, and in cooperation with the Federation of Egyptian Chambers of Commerce (FEDCOC), the Federation of Egyptian Industries and the CEEBA.

You Might Also Like

Egypt to issue new bonds for climate, social goals

Saudi Public Investment Fund eyes stake in Palm Hills Development

UNDP, MBRF launch online learning initiative for Arab countries

Egypt Post invests in Roaderz platform to enhance e-commerce, delivery services

GAFI to grant 45 more golden licences to boost investment

TAGGED: Daily, Egypt, Foreign Direct Investment, General Authority for Investment and Free Zones, News, OECD
Share this Article
Facebook Twitter Email Print
Previous Article Saudi Arabia to grant $1.3bn in petroleum shipments in May, June
Next Article Egypt expresses support for Palestinian prisoners, calls for an end to administrative detention
1 Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Genetically engineering associations between plants and nitrogen-fixing microbes could lessen dependence on synthetic fertilizer
Genetically engineering associations between plants and nitrogen-fixing microbes could lessen dependence on synthetic fertilizer
Science
Earthworms contribute to 6.5% of global grain production, says new research
Earthworms contribute to 6.5% of global grain production, says new research
Science
Researchers build and test a framework for achieving climate resilience across diverse fisheries
Researchers build and test a framework for achieving climate resilience across diverse fisheries
Science
Egypt to issue new bonds for climate, social goals
Egypt to issue new bonds for climate, social goals
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?