The Investment Ministry has released figures suggesting a net increase in foreign direct investment (FDI) in Egypt during the 2015-2016 fiscal year compared with the previous year.
FDI figures for the nine-month period from July 2015 to March 2016 show a 13.7 percent increase over the same nine-month period of 2014-2015, rising from US$5.1 billion to $5.8 billion.
In a statement on Friday, the ministry said the increase was due the net investment inflows of newly established companies and the increase in the capital of such companies, estimated at $3.7 billion in 2015-2016 compared to about $2.8 billion in 2014-2015.
Investments in the petroleum sector achieved a net inflow of $ 1.5 billion in 2015-2016, according to the statement.
Edited translation from Al-Masry Al-Youm
