The Central Bank of Egypt (CBE) said on Friday that net foreign direct investments during the first quarter of 2021/2022 fiscal year hit 1.664 billion dollars against 1.605 billion dollars of the corresponding period of the past year.

In a statement, the CBE indicated that the total inflows increased during the first quarter of the 2021/2022 fiscal year to 3.704 billion dollars compared with 3.497 billion pounds the corresponding period of the year before.

Meanwhile, total outflows increased during the first quarter of the 2021/2022 fiscal year to 2.039 billion dollars compared with 1.892 billion pounds during the same period last year.

The European Union states topped the list of countries investing in Egypt with a total 1.411 billion dollars, as the UK investments hit 470.9 million dollars followed by Italy with investments of 448.8 million dollars then France with investments of 179.3 million dollars then Belgium, Germany, Spain, and Sweden.

Investments of the Arab countries in Egypt during the first quarter of the 2021/2022 fiscal year hit 932.4 million dollars.

The UAE topped the list of the Arab countries investing in Egypt with investments of 448.6 million dollars to be followed by Saudi Arabia with 111.7 million dollars, Kuwait with 105.3 million dollars, Jordan by 98.2 million dollars, and Tunisia with 14.7 million dollars.

Source: State Information Service Egypt