Egypt targeting USD 11.2 bn in foreign investments by 2022

Egypt sees foreign direct investment at USD 11.2 bn in 2022, with inflows into renewable energy opportunities contributing c. 12% of that total, Investment Minister Sahar Nasr said, according to Al Mal. Egypt fell short of its annual USD 10 bn target in each of 2016 and 2017, but still remained the most attractive destination for FDI in Africa in the first half of this calendar year, with the total inflow up 24% compared to 1H2017, according to UNCTAD. State figures show FDI stood at USD 7.7 bn in the state’s 2017-18 fiscal year, down from USD 7.9 bn the previous year.