Arab Finance: Foreign direct investment (FDI) inflows to Egypt more than doubled to $11.4 billion in 2022 from $5.1 billion in 2021, according to the UNCTAD’s latest World Investment Report.
Inflows surged as cross-border mergers and acquisitions increased and the number of announced greenfield projects in the country more than doubled to 161.
Meanwhile, international project financing deals jumped in value by two-thirds to $24 billion, the report added.
On the other hand, outflows decreased by 7% year on year (YoY) last year, reaching $342 million.
Egypt received the largest share of foreign direct investment inflows of any other African country last year, the data showed.