Middle East Economic Survey

VOL. XLIX

No 21

22-May-2006

EGYPT

Egypt Attracts $3.9Bn FDI In 2005

Recent measures to streamline investment procedures and introduce economic reforms have led to an increase in foreign direct investment (FDI) in Egypt, which rose to $3.9bn in 2005 from $2bn in 2004, according to Egyptian Minister of Investments Mahmud Muhyi al-Din. Foreign investments in 2006 are expected to increase to $5.5-5.7bn, or 5% of Egypts GDP, creating some 600,000 jobs, the minister added.