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Egypt secures $10.04B foreign direct investments in FY2023/2024

This represents a growth rate of 12.3 percent compared to the FY 2022/2023.
13.06.24 | Source: Egypt Today

CEO of the General Authority for Investment and Free Zones (GAFI), Hossam Heiba, stated that Egypt has successfully attracted foreign direct investments totaling $10.04 billion in the fiscal year 2023/2024. This represents a growth rate of 12.3 percent compared to the FY 2022/2023.


 Heiba made this announcement while participating in a New Development Bank (NDB) seminar in Egypt.


He highlighted the ongoing efforts to attract foreign direct investments, aiming to position Egypt as a regional hub for investment.

 In pursuit of this objective, the Egyptian government is actively working on providing promising investment opportunities in various sectors, including industry, green energy, technology, communications, agriculture, logistics, and tourism.


Furthermore, Heiba discussed a new initiative aimed at enhancing digital services through the introduction of a comprehensive investment services platform.


This platform aims to simplify procedures for investors and facilitate the establishment of companies, promoting ease of doing business.


The CEO of GAFI also mentioned the measures taken to reintroduce investment incentive packages for strategic sectors such as healthcare, transportation and logistics, tourism, and education.


 These efforts are being carried out in coordination with relevant authorities and the private sector to ensure maximum benefit from these incentives.