UNCTAD : Egypt is the first investment destination in Africa

The report of the United Nations Conference on Trade and Development (UNCTAD) showed that Egypt is the first investment destination in the African continent for the year 2022, pointing out that Cairo is a reliable investment destination.

Developed foreign direct investment flows to Egypt since 2014, reaching $11.4 billion in 2022. This made it ranked first on the African continent, and second on the level of Arab countries.

Investment climate in Egypt

On the investment climate in Egypt, the report indicated that foreign direct investment flows to Egypt have more than doubled.

He explained that this was supported by the large boom in green projects, which more than doubled to reach 161 projects in 2022.

Environment for foreign direct investment

Egypt announced a set of incentives to enhance the environment for foreign direct investment, as it intends to introduce tax incentives for projects funded by foreign investments.

Foreign direct investment flows in Egypt

Foreign direct investment flows in 2022 in Africa, where South Africa ranked from 5 to 10 billion dollars, and Ethiopia, Morocco and Senegal ranked from 2 to less than 5 billion dollars, And the Democratic Republic of the Congo, Ghana, Mauritania and Tanzania, from $1 billion to less than $2 billion.

Among the countries in which foreign direct investment flows amounted to less than one billion dollars, Algeria, South Sudan, Sudan, Tunisia, Mali, Niger, Chad, and Namibia, while foreign direct investment flows in Nigeria, Togo, and Angola recorded zero or less.

First investment destination in Africa 2022

Egypt has become the first investment destination in Africa 2022, after it provided many opportunities to provide an attractive and stimulating environment for investment, and to support the role of the private sector.

In addition to facilitating and simplifying procedures for investors, and overcoming many obstacles through legislative and institutional reforms and establishing the necessary infrastructure, which found its echo in strengthening Egypt's position and position as an attractive investment destination at the African and Arab levels, and improving the view of international institutions of Egypt's efforts in the investment file.

This progress came an integrated system for renaissance, development, and work to overcome obstacles to investment. Egypt has succeeded in occupying a huge and significant position in Central Africa in attracting investments.