A latest report of a UN Conference on Trade and Development (UNCTAD) said that Egypt is the first investment increment in Africa over the first half (H1) of 2018, adding that foreign direct investments (FDIs) in Egypt rose by 24% in the first 6 months of 2018, compared with same period in 2017, according to a statement by Egypt’s Investment and International cooperation Ministry on Wednesday.
The statement added that FDIs decreased globally in H1 of 2018 to $470bn from $794bn over same period in 2017.
Moreover, the Minister of Investment and International Cooperation, Sahar Nasr, signed an agreement with the European Bank’s President, Werner Hoyer, for the Kitchener project worth €214m, during the minister’s current visit to Luxembourg.
The minister said that the Kitchener project is supported by the international financial institutions, noting that the European Bank for Reconstruction and Development contributed in financing the project with €148.3m, and the European Neighbourhood Policy contributed with €46m, while total cost of the project is at €400m.
