UAE investments in Egypt reach $6.66 billion in 2018

Image processed by CodeCarvings Piczard ### FREE Community Edition ### on 2018-11-17 11:33:18Z | | http://codecarvings.comÿÿÿŠÖiù 

UAE investments in Egypt slightly went up in 2018 to reach $6.66 billion compared to $6.513 billion in 2017.

The figures were disclosed by UAE ambassador to Cairo Gomaa Mubarak al-Junaibi during the fourth meeting of the UAE investors in Egypt.

With a total of $6.66 billion investment last year, the UAE stands out as leader in matters of foreign direct investment (FDI)in Egypt, local media Egypt Today comments.

Referring to data provided by the General Authority for Investment and Free Zones (GAFI), the diplomat also underlined the increase in the number of Emirati firms established in the North Africa country. The number has gone up from 923 companies in 2017 to 1,065.

The increase in the investment has also caused an upward trend in terms of volume of trade according to Junaibi. Trade exchanges hit a record $3 billion, between January and October 2018, he said.

About Khalid Al Mouahidi 4346 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network