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Media In Abu Dhabi 23 -01-2019 / WAM
The total direct UAE investments in the Egyptian market reached 5.9 billion dollars during the last four years by the end of 2018, representing the second largest Arab country in the list of countries investing in Egypt amid expectations of growth of economic, trade and investment cooperation between the two countries during the next phase, according to Mohsen Adel, General Investment & Free Zones.
On the sidelines of the first Arab Investment and Corporate Citizenship Forum held in Abu Dhabi under the title “Effective partnerships towards sustainable growth”, the CEO of the Egyptian General Authority for Investment and Free Zones (GAFI) said in a press statement that the number of new UAE companies established in Egypt in 2018 reached 114 companies operating in various investment sectors.
On the most important sectors in which UAE investments are concentrated, he pointed out that UAE companies operate in more than 15 different economic sectors in the Egyptian market where the oil exploration sector accounts for 20.6% of the total investments, followed by the financial sector by 19%, the ICT sector by 15.4% and 15.2% , Real estate sector by 10.4%, services by 10.2% and industrial by 7.1%, followed by tourism, agriculture and other sectors.
The total investment flow to the Egyptian market during the last year reached about $ 1.75 billion, a growth of 25% compared to 2017.
He pointed out that the volume of foreign direct investment flowing to emerging markets worldwide fell 42% last year as a result of the pressure on global capital movements. He pointed out that Egypt managed to maintain the volume of FDI flowing to it by $ 7.7 billion in 2018.
