Reports showed Egypt is one of the countries that are outside this trap due to the government’s keenness on expanding manufacturing activities
The foreign direct investments in Egypt were estimated at $5.9 billion in 2020, the UNCTAD said in its World Investment Report 2021 report on Monday.
The report speculates that the world can possibly experience a "lost decade."
The report noted that the economic reforms undertaken by the Egyptian government have improved macroeconomic stability and boosted investor confidence in the country.
Madbouli’s speech came during his meeting with Director of UNCTAD's Investment Division James Zhan.
“Egypt remained the largest FDI recipient in Africa in 2018, although inflows decreased by 8 percent to $6.8 billion,” UNCTAD stated in a report.
A recent study by UNCTAD reviews the benefits and challenges of the Continental Free Trade Area, the pan-African trade liberalization agreement.
Trump's decision to impose steep tariffs on steel and aluminium imports will take a toll on poorer countries and could trigger takeovers in their mining industries.
Egypt is the second Arab country in terms of Foreign Direct investment (FDI) flows, with a rate of 27%, according Arab Investment and Export Credit Guarantee Corporation.
The Palestinian Authority in Ramallah on Tuesday.
Biggest foreign investment destinations in the Arab world were the UAE, Egypt and Saudi Arabia.
Egypt ranks fourth in the top four African countries receiving foreign direct investment (FDI).