UAE, UK top foreign investors in Egypt during 2019/20

CAIRO: The UAE and the UK were the two biggest foreign investors in Egypt during the fiscal year 2019/2020, according to official figures.

The Egyptian Cabinet’s information and decision support center said the volume of foreign investment flowing into Egypt increased 26.4 percent to $15.8 billion, compared to $12.5 billion in 2015/2016.

With $4.8 billion, Britain ranked first for investment in Egypt over the time period, followed by the UAE with $1.6 billion.

The UAE was the highest in the Arab world in terms of its inflows to Egypt, up from $800 million in 2016/2017.

The center’s report added that the oil sector accounted for 49 percent of all foreign direct investments in Egypt in 2019/2020.