Arab Finance: Foreign direct investment (FDI) inflows to Egypt rose by 10% year on year (YoY) in fiscal year (FY) 2022/2023, Ahram Online reported, citing CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba.
He noted that Egypt ranked first in Africa and second in the Middle East after the UAE in terms of the value of FDI inflows.
The announcement came during Heiba’s meeting with members of the Egyptian Lebanese Businessmen Friendship Association.
Over the last six months, GAFI has dedicated around 4.5 million square meters of lands as industrial zones for several foreign investors, Heiba pointed out.