Foreign direct investment (FDI) registered $5.8bn in the first nine months of fiscal year (FY) 2015/2016, compared to $5.1bn in the same period of FY 2014/2015, according to the Central Bank of Egypt (CBE).
The CBE said in a statement on Sunday that the net inflows to establish companies or increase capital of existing companies rose to $3.7bn from July 2015 to March 2016, compared to $2.8bn from July 2014 to March 2015.
According to the CBE, foreign investment in the petroleum sector measured a net inflow of about $1.5bn.
FDI net inflow in Egypt recorded $2.8bn from January to March 2016, compared to $1.7bn from October to December 2015 and about $2.5bn from January to March 2015, according to the CBE.
The CBE added that foreign investments for its security portfolio achieved a net outflow of $1.5bn over the first nine months of FY 2015/2016, compared to $2.1bn over the same period in FY 2014/2015. The hike in FY 2014/2015 came as a result of the Egyptian government repaying investors for bonds worth $1.25bn, which foreign investors acquired when Egypt released [bonds] in global markets back in 2005.
In return, other investments achieved a net inflow of about $9.6bn, reflecting confidence in the Egyptian economy to repay foreign obligations.
