Egypt targets to attract more FDIs in 2019: Nasr

Daily News Egypt
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Egypt’s Minister of Investment and International Cooperation, Sahar Nasr, participated in a high-level roundtable on global investments trends organised by the United Nations Conference on Trade and Development (UNCTAD) during the World Economic Forum in Davos, Switzerland, according to a Wednesday statement.

The roundtable discussed setting solutions for declining global foreign direct investments (FDI) issues, which slashed by 19% in 2018, amounting to $1.2tn noted the statement, adding that this depreciation was concentrated in developed countries. FDIs fell by 40% to reach their lowest levels since 2004.

The statement mentioned that while Egypt witnessed the highest increase in FDIs inflows in Africa in 2018, it reached 7% to amount to $7.9bn, most of which is concentrated in the real estate, food, oil and gas and renewable energy sectors, according to the UNCTAD report.

The participants in the roundtable expected Egypt to continue to achieve the highest FDIs in 2019, ensured the statement.

For her part, Nasr mentioned that Egypt targets to attract more FDIs in 2019, praising the UNCTAD’s report about investments in Egypt.

The minister affirmed that Egypt achieved major jumps in developing its infrastructure and issuance of new regulation to improve its investment climate.

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