Egypt aims for over $20 billion FDI annually

Prime Minister Mostafa Madbouly underlined Egypt's ambitious targets to attract foreign direct investments (FDI) exceeding $20 billion annually and escalate exports to over $140 billion by 2030.

"This is an achievable dream," Madbouly remarked during a press conference on Wednesday.

Key investment insights:

As part of the FDI drive, investments in the project of leading Chinese global home appliances manufacturer Haier are set to surpass $500 million upon the completion of its three phases, Madbouly said.

This initiative is expected to create thousands of job opportunities for the youth in Egypt, Madbouly emphasized.

The prime minister also addressed recent national achievements and pivotal developments across various sectors, including energy, education, healthcare, and investments, while articulating Egypt's stance on regional matters.

Madbouly said he discussed integrated plans with officials from Japanese companies operating in renewable energy and water management to expand their investments in Egypt during the coming period.