The Clap
The 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 deets
The 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 matters
In 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.
