Thndr Claps » EGY Claps » Economy 🏙 » Egypt second largest African recipient of FDI🥈
The ClapThe World Investment Report issued by the United Nations placed Egypt as the second largest recipient of foreign direct investment (FDI) in Africa during 2021.
The deetsThe report indicated that despite a 12% YoY decrease in FDI inflows, Egypt ranked second with inflows amounting to $5.12 billion.
The report also mentioned that the Gulf countries’ roughly $22 billion in investments in Egypt, should enhance the inflow of FDI in the future.
Why this mattersIn general, FDI inflows at the global level in 2021 increased by 64% YoY, to reach $1.58 trillion after economies suffered in 2020 due to the pandemic.
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