The Central Bank of Egypt (CBE) said that the net volume of foreign direct investments (FDIs) during the first quarter (1Q) of fiscal year (FY) 2021/22 rose by about $59m to reach about $1.664bn, compared to $1.506bn in 1Q of FY 2020/21.
The monthly report of the CBE showed that the total inflows rose to reach $3.704bn, up from the $3.497bn recorded during the corresponding period of the previous fiscal year, and the pace of outflows increased during 1Q of the current fiscal year to reach $2.039bn compared to $1.892bn.
It added that the EU’s member states ranked first in terms of countries investing in Egypt with a total amount of $1.411bn, noting that the UK’s investments amounted to $470.9m, followed by Italian investments by $448.8m, French investments by $179.3m, Belgian investments that amounted to $153.5m, German investments amounting to $126.8m, Spanish investments with a value of $51.1m, and Sweden with investments amounting to $16.5m.
It pointed out that the total investments of Arab countries during 1Q of FY 2021/22 amounted to about $932.4m, of which the UAE’s investments amounted to about $448.6m, while the volume of Saudi Arabia’s investments amounted to about $111.7m, the volume of Kuwaiti investments amounted to about $105.3m, Jordan’s investments about $98.2m, and Tunisian investments in amounted to $14.7m.
The CBE added that the investments of the US amounted to $345.5m, while the volume of investments from the rest of the world amounted to $544.2m, including Singapore with $78.6m, Switzerland with about $53.9m, Japan with about $11.4m, and Canada with $35.4m.