{"id":548240,"date":"2022-08-01T03:30:55","date_gmt":"2022-08-01T03:30:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/govt-has-ambitious-fdi-export-targets-this-year\/"},"modified":"2022-08-01T03:30:55","modified_gmt":"2022-08-01T03:30:55","slug":"govt-has-ambitious-fdi-export-targets-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/govt-has-ambitious-fdi-export-targets-this-year\/","title":{"rendered":"Gov\u2019t has ambitious FDI + export targets this year"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Egypt wants to attract USD 10 bn of foreign direct investment during the current <\/strong><strong>fiscal year<\/strong>, Planning Minister Hala El Said said last week, according to <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid023EjFEbL9w1C1AuCAAjN51uqAaXn2NodKYho8N2w16poxHEGmEAZnDMrmn3L84E76l\">a statement<\/a>.<\/p>\n<p><strong>This would be a significant step up:<\/strong> FDI has averaged USD 7.3 bn a year over the past five years, according to our in-house calculations of balance of payments figures.<\/p>\n<p><strong>Fresh FDI has been near the top of the government\u2019s priority list in recent weeks<\/strong> as it looks to attract foreign capital back to the country amid rising pressure on the balance of payments caused by the spillover effects from the war in Ukraine. Prime Minister Moustafa Madbouly and senior government officials have in recent weeks held talks with companies in the Gulf, the US and Europe in a bid to draw fresh investment. The UAE, Saudi Arabia and Qatar have already pledged to provide <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">USD 22 bn<\/a> in investment and central bank deposits this year.<\/p>\n<p><strong>Ambitious export targets:<\/strong> The government wants the country\u2019s non-oil exports to hit USD 35 bn this year, El Said said. This is 75% higher than the USD 20.1 bn exported in FY 2020-2021. Egypt\u2019s non-oil exports totalled USD 12.8 bn in the first half of FY 2021-2022, according to the most recent figures.<\/p>\n<p><strong>FDI + exports > hot money:<\/strong> Both <a href=\"https:\/\/bit.ly\/3LUJbla\">El Said<\/a> and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55d004cc-aecf-4c66-80e3-5e677f18f682\">Finance Minister Mohamed Maait<\/a> have in past weeks signaled that the government will try and dial back its reliance on portfolio inflows and focus on attracting sustainable FDIs.<\/p>\n<p><strong>The government wants to attract USD 40 bn in new investment over the next four years<\/strong> by selling state-owned assets to local and international investors. This comes under the government\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0894c99e-e18e-473e-a869-64812c50988b\">in-progress revamp of its privatization strategy<\/a>, which it says will more than double the private sector\u2019s role in the economy over the next three years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt wants to attract USD 10 bn of foreign direct investment during the current fiscal year, Planning Minister Hala El Said said last week, according to a statement. This would be a significant step up: FDI has averaged USD 7.3 bn a year over the past five years, according to our in-house calculations of balance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":548241,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[104,72,103,727,125,678],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-fdi","tag-hala-el-said","tag-investment-watch","tag-planning-ministry","wpautop","entry"],"acf":{"mongo_id":"a9a0379c-54f7-423e-b955-75712e68f5e6","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/98.jpg","photo_position":"above","related_issue":[548233],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gov\u2019t has ambitious FDI + export targets this year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/govt-has-ambitious-fdi-export-targets-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t has ambitious FDI + export targets this year\" \/>\n<meta property=\"og:description\" content=\"Egypt wants to attract USD 10 bn of foreign direct investment during the current fiscal year, Planning Minister Hala El Said said last week, according to a statement. This would be a significant step up: FDI has averaged USD 7.3 bn a year over the past five years, according to our in-house calculations of balance [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/govt-has-ambitious-fdi-export-targets-this-year\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-01T03:30:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/98.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/govt-has-ambitious-fdi-export-targets-this-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/govt-has-ambitious-fdi-export-targets-this-year\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Gov\u2019t has ambitious FDI + export targets this year\",\"datePublished\":\"2022-08-01T03:30:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/govt-has-ambitious-fdi-export-targets-this-year\/\"},\"wordCount\":304,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/govt-has-ambitious-fdi-export-targets-this-year\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/98.jpg?fit=%2C&ssl=1\",\"keywords\":[\"economy\",\"EnterpriseAM\",\"FDI\",\"Hala El Said\",\"investment watch\",\"Planning Ministry\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/govt-has-ambitious-fdi-export-targets-this-year\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/govt-has-ambitious-fdi-export-targets-this-year\/\",\"name\":\"Gov\u2019t has ambitious FDI + export targets this year - 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The PM is leading a delegation of cabinet ministers and senior officials to the Emirati capital where they will announce the initiative alongside Emirati and Jordanian\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562601,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/more-fdi-please\/","url_meta":{"origin":548240,"position":2},"title":"More FDI, please","author":"enterpriseam admin","date":"31 May 2021","format":false,"excerpt":"Net foreign direct investment is expected to rebound next fiscal year to a near pre-pandemic level, Planning Minister Hala El Said told the Senate yesterday, saying she expects Egypt to land some USD 7 bn worth in FY2021-2022, just ahead of the USD 6.8 bn we are on track to\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/277.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566221,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/current-account-under-the-spotlight-as-economy-continues-to-recover-from-covid\/","url_meta":{"origin":548240,"position":3},"title":"Current account under the spotlight as economy continues to recover from covid","author":"enterpriseam admin","date":"3 June 2021","format":false,"excerpt":"Remittances to Egypt rose 10% y-o-y in the first five months of 2021, Planning Minister Hala El Said said in a statement. Egyptians working abroad transferred USD 15.5 bn since January, already up nearly 10% compared to the period between January and July 2020, according to figures presented by El\u2026","rel":"","context":"In &quot;SPEED ROUND: ECONOMY&quot;","block_context":{"text":"SPEED ROUND: ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592101,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/26\/egypts-current-account-deficit-narrows-fdi-more-than-doubles-in-1q2019-2020\/","url_meta":{"origin":548240,"position":4},"title":"Egypt\u2019s current account deficit narrows, FDI more than doubles in 1Q2019-2020","author":"enterpriseam admin","date":"26 December 2019","format":false,"excerpt":"Current account deficit narrows, FDI more than doubles in 1Q2019-2020: The current account deficit decreased 31% y-oy in the first quarter of the government\u2019s new fiscal year to USD 1.382 bn from USD 2.012 bn the previous year, according to a central bank report (pdf). The non-oil trade deficit also\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/12\/CBE-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596725,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/egypts-current-account-deficit-almost-doubles-in-3q2018-2019\/","url_meta":{"origin":548240,"position":5},"title":"Egypt\u2019s current account deficit almost doubles in 3Q2018-2019","author":"enterpriseam admin","date":"7 July 2019","format":false,"excerpt":"Current account deficit almost doubles in 3Q2018-2019 as non-oil imports rise: The current account deficit almost doubled during 3Q2018-2019 to USD 3.75 bn from USD 1.93 bn the previous year due to a rise in non-oil imports, Reuters reported, citing its own calculations based on central bank data (pdf). The\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=548240"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548240\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/548241"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548240"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548240"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}