Egypt ranks 9th in 2024 global FDI attractiveness: UNCTAD

Updated 6/19/2025 2:51:00 PM

Arab Finance: Egypt has secured the ninth spot globally among the most attractive destinations for foreign direct investment (FDI) in 2024, with inflows reaching $47 billion, up from $10 billion in 2023, according to the United Nations Conference on Trade and Development's (UNCTAD) World Investment Report 2024.

The country also topped the list of African nations for FDI inflows, registering a growth rate of 373%.

The figures were announced at a joint press conference hosted by the Ministry of Investment and Foreign Trade at the General Authority for Investment and Free Zones (GAFI), with participation from the Ministry of Planning and Economic Development, and International Cooperation, and UNCTAD.

The event was led by Minister of Investment and Foreign Trade Hassan El-Khatib, Minister of Planning Rania Al-Mashat, and Head of the Investment Research Branch in UNCTAD's Investment and Enterprise Division Richard Bolwijn.

The report highlighted Egypt’s climb from 32nd place in 2023 to ninth in 2024, ranking just behind countries including the US, Singapore, China, and Canada.

UNCTAD attributed the sharp increase in FDI largely to the Ras El Hekma development agreement and a series of major investment deals signed in 2023.

FDI inflows to Africa rose 75% overall, from $55 billion in 2023 to $97 billion in 2024, with Egypt leading the continent, followed by Ethiopia, Côte d'Ivoire, Mozambique, and Uganda.

Globally, however, FDI declined by 11% year on year (YoY) to $1.5 trillion, driven by a 22% drop in advanced economies, while flows to developing countries remained stable and least developed countries saw a 9% rise.

Speaking at the launch, El-Khatib said the report’s findings reflect the tangible progress Egypt has made in infrastructure, digitalization, and private sector engagement.