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This is the second time Egypt has held the top spot. According to a statement by the Media Centre of the Cabinet, Egypt attracted investments worth $9.8 billion in 2023 despite consecutive global crises. The statement, which details Egypt’s investment status based on UNCTAD’s Global Investment Report published on 20 June 2024, highlights that Cairo accounted for 18.6 per cent of Africa’s total investments, which amounted to $52.6 billion in 2023. Since 2014, Egypt has seen a positive trend in investment flows. In 2023, the country received $9.8 billion in foreign direct investment (FDI) compared to $9 billion in 2019 and $4.6 billion in 2014. The report also noted the emergence of Egypt as a key investment destination in Africa for numerous multinational companies in sectors such as automotive, pharmaceuticals, and electronics. In 2023, Egypt established the Supreme Council for Investment, chaired by President Abdel Fattah Al-Sisi, intending to boost investments and economic growth. It aimed to enhance coordination and the effectiveness of promoting investments. It also introduced tax exemptions and other financial incentives to attract investors. READ: ‘Smell of blood’ fills Gaza hospital after deadly Israeli strike: UN agency 0 Comment | Be the first Unless otherwise stated in the article above, this work by Middle East Monitor is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License. If the image(s) bear our credit, this license also applies to them. What does that mean? For other permissions, please contact us. SPOTTED AN ERROR ON THIS PAGE? LET US KNOW This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Δ * * 0 Comment | Be the first Please enable JavaScript to view comments. 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The discussions took place in Riyadh at the start of Madbouly's official visit to the kingdom, according to a statement from the Egyptian Cabinet. Madbouly and Al-Falih discussed… September 16, 2024 SAUDI ARABIA, EGYPT AGREE DEEPER INVESTMENT TIES, URGE GAZA TRUCE Saudi Arabia's Crown Prince, Mohammed Bin Salman, and Egypt's President, Abdel Fattah Al-Sisi, agreed to deepen trade and investment cooperation and called for a ceasefire in Gaza and Lebanon in talks in Cairo on Tuesday, Reuters reports. Egypt's presidency said the leaders signed an agreement to encourage and protect mutual investments between the countries,… October 15, 2024 TRENDING * Today * This week * News Israel researcher warns of potential coup and unrest in Jordan * News A quarter of Israelis face food insecurity * Videos & Photo Stories Palestine This Week: Is Israel changing the Middle East through Syria? * News Israel DM: We are closer than ever to prisoner swap deal * Article Will the Syrian rebels be able to protect their victory? * Videos & Photo Stories Understanding Germany's unwavering support for Israel: MEMO in Conversation with Jurgen Mackert * News Jordanian returns to his family after 38 years in Syria prisons * News Israeli-American real estate giants charged with sex trafficking, sexual assault in New York court * News Israel destroys 80% of Syria’s military capabilities * News Arab League resolution condemns Israeli grab of Syrian territory * * * Africa * Asia & Americas * Middle East * Europe * Book Reviews * * Blog * Opinion * Reviews * Multimedia * Podcast: Middle East Monitor Conversations * Podcast: Palestine This Week * * Editorial Guidelines * About Us * Palestine Book Awards * Contact Us * Privacy Policy * MEMO Publishers * All Stories Archive * SUBSCRIBE TO OUR NEWSLETTER Sign up * * * * * * * © Ardi Associates Ltd 2009-2024. 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