Egypt ranks 4th among African countries in FDI during 2016

Egypt has ranked fourth in a new UN report on the amount of foreign direct investment (FDI) received by African countries during 2016, according to state-run news agency MENA.
Figures published in a June report from the United Nations Conference for Trade and Investment (UNCTAD) show Egypt coming fourth after Angola, Nigeria and South Africa in terms of the amount of FDI received over a 12-month period.

MENA reported on Tuesday that the flow of FDI into Egypt had increased by 17 percent during 2016.

FDI is one of Egypt's primary sources of foreign currency, along with Suez Canal revenues and the tourism industry.

A June statement from UNCTAD said that FDI reached $8.1 billion during 2016, representing 14 percent of total investments coming from Africa, which totalled $59 billion.