Egypt's net Foreign Direct Investment (FDI) remained stable at $1.38bn in Q1 (July-September) FY2015/2016 ending in June compared to $1.32bn in the same period the previous year, the central bank reported.
Direct investment inflows during the quarter stood at $2.93bn with European Union countries as a block taking the lead investing around $2bn. The largest contribution at $1.39bn came from the UK, traditionally Egypt’s largest single source of foreign investment. It was followed by the Netherlands at $204.3mn.
The Arab countries as a block were the second largest investor in Egypt channeling $350mn in investments in total during Q1 FY2015/2016. The United Arab Emirates at $146mn took the lion’s share of Arab investments accounting for 41% of the total. Saudi Arabia came in second place putting in $60.1mn during the quarter.
Egypt total FDI outflows amounted to $1.54bn in Q1 FY2015/2016 down by 8% y/y. Egypt does not publish figures on the destination of FDI outflows.
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