The Egyptian economy continues to shine on the African continent by attracting record foreign direct investments. According to the latest UNCTAD data, Egypt has risen to the top of African countries by attracting no less than $10 billion in foreign direct investment. This impressive figure represents a significant portion of the $52.633 billion in inward FDI into Africa, as well as the $13.461 billion invested across North African countries.
This exceptional performance positions Egypt as the undisputed leader in FDI on the continent, even surpassing South Africa which attracted $5.2 billion. Indeed, FDI flows to Egypt were three times those to each North African country.
This success can be explained by the growing attractiveness of the Egyptian economy as well as the numerous investment opportunities it offers, particularly in the Suez Canal Economic Zone and in the new and renewable energy sectors.
While foreign direct investment overall saw a 7% decline in developing countries to $867 billion, difficult financing conditions led to a 26% decline in international project finance transactions.
Compared to other North African countries, Egypt clearly stands out: Morocco attracted 1.095 billion dollars in 2023, Libya not having attracted any direct investment due to the security situation prevailing there, Tunisia 768 million dollars and Algeria 1.216 billion dollars, ranking second after Egypt. Morocco was ranked third.
This impressive economic performance confirms Egypt’s status as a preferred destination for foreign investors seeking lucrative opportunities and a business-friendly environment. Egypt’s economic future looks bright, and the country is expected to continue attracting significant investments in the coming years, strengthening its position as an economic leader on the African continent.