Minister of Investment and Foreign Trade Hassan El-Khatib has reviewed Egypt’s plans to improve the business environment, reinforce trade, and attract more foreign direct investments (FDI).

The third edition of the Egypt VC Summit is set to take place from February 4th to 5th at the Sofit Downtown Nile Hotel.

Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib highlighted the state’s economic developments in an interview with CNBC on the sidelines of the World Economic Forum (WEF) in Davos.

The General Authority for Investment and Free Zones (GAFI) has launched six new free zones to attract foreign investments.

Egypt is planning to attract foreign direct investment (FDI) of over $2 billion from the European Union (EU) countries for new industrial projects this year.

Foreign direct investment (FDI) inflows into Egypt dropped by 13.6% year on year (YoY) to $9.841 billion in 2023 from $11.4 billion in 2022, according to the United Nations Conference on Trade and Development’s (UNCTAD) World Investment Report 2024.

Egypt’s net foreign direct investment (FDI) flows hit $10 billion in 2023, the highest in 15 years.

Egypt will receive $35 billion in foreign direct investment (FDI) from Abu Dhabi Developmental Holding (ADQ) for the Ras El Hekma project.

Egypt is targeting $12 billion in foreign direct investments (FDIs) in the fiscal year (FY) 2023/2024.

Egypt has been working to strengthen its intellectual property (IP) protection over the recent years, recognizing the impact that IP rights can have on a country's economic development and ability to attract foreign investment. The country has taken steps to modernize its IP system and elevate its standards, which is expected to drive innovation, creativity, and economic growth.

The Egyptian government’s foreign financing needs have been estimated at $4 billion until the end of fiscal year (FY) 2023/2024, Minister of Finance Mohamed Maait stated.

Egypt is planning to lure foreign direct investments (FDIs) of $25 billion within five years, Chairman of the General Authority of Free Zones and Investment (GAFI) Hossam Heiba said.

Foreign direct investment (FDI) inflows to Egypt rose by 10% year on year (YoY) in fiscal year (FY) 2022/2023.

Egypt’s balance of payment (BoP) saw an overall surplus of $281.9 million during the first nine months of fiscal year (FY) 2022/2023.

Foreign direct investment (FDI) inflows to Egypt more than doubled to $11.4 billion in 2022 from $5.1 billion in 2021.

In December 2022, the International Monetary Fund's (IMF) board approved a $3 billion loan for Egypt. Under this agreement, Egypt is committed to boost its various sources of foreign currency to close the estimated financing gap of $17 billion. In this Factsheet, Arab Finance gives you a holistic view of the main sources of foreign currency inflows to Egypt and their performance in the second quarter (Q2) of the current fiscal year (FY).

As smartphones become a significant part of everyone’s lives, Egypt is encouraging the localization of smartphone manufacturing. In October 2022, Samsung released its first-ever Made in Egypt Galaxy A13 (SM-A137F/DS) smartphone in the local market. Moreover, the French ACE company has started producing phones at SICO Egypt's factory in Assiut, while other firms, including Infinix, Oppo, and HMD Global, are encouraged to manufacture in Egypt. Oppo has already signed a memorandum of understanding (MoU) to establish a smartphone factory in Egypt. Localizing smartphone manufacturing not only has an effect on the phone maker, but also on the country’s economy.