The Media Center of the Cabinet released Saturday the figures.
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.
A well-placed source at FRA said the approval came in line with the capital market law no 95 of 1992 and its executive statute.
The report said Egypt implemented 32 projects inside the group's member states as a whole.
Egypt could attract about 38 percent of the FDIs, followed by Tunisia and Sudan with 9 and 8 percent, respectively, said the report.
Maghawry clarified that most of the UK’s investments are concentrated in the industrial sector, especially in oil and gas.
The country accounted for 35.2 percent of the $340 billion invested in the region throughout the period.
Egypt is exerting efforts to create an investment-friendly climate and outline legislation in this regard, it added.
The report noted that the economic reforms undertaken by the Egyptian government have improved macroeconomic stability and boosted investor confidence in the country.
The current account deficit retreated by $ 684.4 million or 13 percent, to register $4.6 billion.
“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.
Egypt is moving forward with comprehensive institutional and legal reforms to improve the business environment, Minister of Investment Sahar Nasr told Bloomberg.
Egypt Today reviews the most significant figures in the IMF’s report.
Pharos Holding expected Egypt to achieve a pickup in economic activity over the next five years.
The expert stated that Foreign Direct Investment’s (FDI) level has been good and that interest rates are expected to decrease.
GAFI added that private investments hiked 47 percent, to reach LE 316 billion, compared to LE 213 billion during 2017.
The deal was made with the Ministry of Supply and Internal Trade.
The total internal inflows reached $3.4 billion compared to $3.9 billion during the same period of last year.
The ministry issued the 2017 annual report entitled "Investment in development" which tackles the ministry's achievements attained during last year.
The inflows of net FDI stood at $1.6 billion in the first quarter of the current fiscal year.