Monday July 22nd, 2024
Download the app
Copied

Egypt Leads Africa in Foreign Direct Investment in 2023

Egypt received the highest amount of foreign direct investment in 2023 at USD 9.8 billion, according to the United Nations Trade and Development Organization.

Cairo Scene

Egypt Leads Africa in Foreign Direct Investment in 2023

Egypt secured its position as the top destination for foreign direct investment (FDI) in Africa. According to the United Nations Trade and Development Organization (UNCTAD), Egypt attracted USD 9.841 billion in FDI in 2023, surpassing all other African nations.

The influx of investments into Egypt, which represents a significant portion of the USD 52.633 billion total FDI to Africa, underscores the country's economic attractiveness. Egypt's strategic advantages, including promising opportunities in new and renewable energy, heavy industries, logistics and the Suez Canal Economic Zone, have contributed to its leading position in FDI flows.

Comparatively, Morocco attracted USD 1.095 billion, Tunisia USD 768 million, and Algeria USD 1.216 billion in 2023. Libya did not attract any direct investments due to ongoing security challenges.

Globally, FDI flows amounted to USD 1.3 trillion in 2023, marking a 2% decline from the previous year. Developing countries experienced a 7% decrease in FDI, highlighting economic challenges exacerbated by geopolitical tensions and financing constraints.

The UNCTAD report anticipates cautious optimism for global FDI in 2024, emphasizing the importance of sustainable finance and supportive policy frameworks to drive future investment growth worldwide.

×

Be the first to know

Download

The SceneNow App
×