Egypt targets $12B in FDI for FY2023/24

Updated 6/12/2023 1:01:00 PM
Egypt targets $12B in FDI for FY2023/24

Arab Finance: Egypt expects luring foreign direct investments (FDI) of $12 billion in the upcoming fiscal year (FY) 2023/2024, up 20% from the expected figures for the current FY 2022/2023, the General Authority for Investment and Free Zones’ (GAFI) Chairman Hossam Heiba told Asharq Business on June 12th.

The golden license was granted to 17 firms in Egypt, while requests submitted by around 40 companies to obtain the license are under consideration, Heiba noted.

Heiba’s remarks came on the sidelines of the Arab-China Business Forum that began in Riyadh on June 11th.

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