{"id":578398,"date":"2022-12-27T04:00:02","date_gmt":"2022-12-27T04:00:02","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/27\/say-thank-you-to-the-gcc-green-hydrogen-for-a-stellar-year-for-investments\/"},"modified":"2022-12-27T04:00:02","modified_gmt":"2022-12-27T04:00:02","slug":"say-thank-you-to-the-gcc-green-hydrogen-for-a-stellar-year-for-investments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/27\/say-thank-you-to-the-gcc-green-hydrogen-for-a-stellar-year-for-investments\/","title":{"rendered":"Say thank you to the GCC + green hydrogen for a stellar year for investments"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a> <strong>2022 was a positive year for investments \u2014 especially as green<\/strong><strong> hydrogen stole the show and we attracted lots of GCC interest:<\/strong> In a year of global economic turmoil and uncertainty here at home \u2014 with imported inflation and a currency under pressure \u2014 Egypt is ending 2022 having attracted a whole lot of investment interest. This year\u2019s announced investments significantly outpace last year\u2019s in terms of value, despite the number of announcements staying more or less steady y-o-y.<\/p>\n<p><strong>Our usual disclaimer: We derived the data points for this wrapup from our internal<\/strong><strong> Enterprise Investment Tracker<\/strong>, which we use to keep tabs on announced and executed investments in Egypt. Our tracker only accounts for capital expenditure and does not include opex spending plans. The data is also not necessarily complete \u2014 there are investments out there that didn\u2019t make it onto our radar because they weren\u2019t announced, particularly from smaller and mid-sized companies, and companies that aren\u2019t publicly traded.<\/p>\n<p><strong>ALSO-<\/strong> Our last two years of data tracked investment values in EGP. For consistency purposes, we\u2019re tracking this year\u2019s investments in USD. Comparative values from last year\u2019s data are expressed in USD equivalent, based on the FX rate at the end of 2021.<\/p>\n<p><strong>In 2022, we reported on 113 announced investments worth a whopping USD 192.2 bn.<\/strong> The actual total value of planned investments was higher \u2014 15 of these commitments did not specify a value.<\/p>\n<p><strong>That\u2019s a much bigger pipeline (in terms of value) than last year<\/strong>, when we reported on 118 announced investments worth a combined USD 26.4 bn.<\/p>\n<p><strong>The top three industries for investment in 2022, by announced value:<\/strong><\/p>\n<ul>\n<li><strong>Energy at USD 151.6 bn<\/strong>, buoyed primarily by the USD 119 bn of green hydrogen and wind projects Egypt <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7267be18-acb5-4b9f-874a-e36102c2cad5\">signed during COP27<\/a>;<\/li>\n<li><strong>Manufacturing at USD 3.7 bn<\/strong>, including a potential <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b49058d-1eb4-4cf5-8661-1050f05a1698\">USD 2.3 bn complex<\/a> to make solar panel components, courtesy of a group of unnamed Chinese firms;<\/li>\n<li><strong>Infrastructure, with USD 2.5 bn<\/strong> of investment commitments announced throughout the year.<\/li>\n<\/ul>\n<p><strong>Rounding out the top five:<\/strong> Food and beverages (USD 471 mn) and tech (USD 440 mn).<\/p>\n<p><strong>How does that compare to 2021?<\/strong> Last year, the top five target industries for investments were energy (USD 11.27 bn), real estate (USD 6.36 bn), infrastructure (USD 2.43 bn), healthcare (USD 1.65 bn), and food and beverages (USD 517 mn).<\/p>\n<p><strong>The biggest y-o-y increase in investment this year by value:<\/strong> Energy, by a very, very wide margin. Investment commitments announced this year for energy projects ballooned by some 1,245% y-o-y.<\/p>\n<p><strong>Meanwhile, healthcare and real estate saw the biggest drops in investments compared to<\/strong><strong> last year.<\/strong> Healthcare investments from private sector players nosedived 99% y-o-y to USD 23.9 mn in 2022. In real estate, investments fell 76% y-o-y to USD 1.5 bn. This should come as no surprise, considering inflation and cost pressures significantly hindered operations for many real estate developers as they struggled to secure building and raw materials. Some 10-20% of real estate developers have at some point <a href=\"https:\/\/enterprise.press\/hardhats\/real-estate-infrastructure-players-coping-high-inflation\/\">halted their construction<\/a> projects this year due to fiscal and logistical pressures, sources have previously told us. Some have even sold off projects before starting construction.<\/p>\n<p><strong>Other than the energy boom, the big investment trend of 2022 for Egypt was the influx of<\/strong><strong> GCC interest.<\/strong> Out of the total planned investments announced this year, Gulf-based investors accounted for USD 55.7 bn \u2014 that\u2019s around 23% for those of you keeping score at home. This figure includes the USD 10 bn Saudi Arabia\u2019s sovereign wealth fund, the Public Investment Fund, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce28f2c9-69b3-4c78-b2ab-1eb5d194e101\">pledged to give as aid<\/a> to Egypt, as well as the separate USD 10 bn Abu Dhabi\u2019s sovereign wealth fund, ADQ, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/248f9feb-5ba0-4777-b6a8-e910c3e8cc67\">pledged to invest<\/a> in industrial projects in Egypt, the UAE, and Jordan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2022 was a positive year for investments \u2014 especially as green hydrogen stole the show and we attracted lots of GCC interest: In a year of global economic turmoil and uncertainty here at home \u2014 with imported inflation and a currency under pressure \u2014 Egypt is ending 2022 having attracted a whole lot of investment [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":578399,"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":[10532],"tags":[93,72,254,7111,125,131],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-year-in-review-investments-2","tag-energy","tag-enterpriseam","tag-green-hydrogen","tag-infrastructure","tag-investment-watch","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"79f77331-4977-467f-ae2b-8bfd9a20413a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/549.jpg","photo_position":"above","related_issue":[578386],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Al Nowais did not provide details on the capacity of the projects, the expected investment values, or the anticipated timeline for these ventures. Where do things stand at\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\/2021\/12\/434.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576908,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/02\/qatar-is-eyeing-a-usd-1-bn-green-hydrogen-and-ammonia-project\/","url_meta":{"origin":578398,"position":2},"title":"Qatar is eyeing a USD 1 bn green hydrogen and ammonia project","author":"enterpriseam admin","date":"2 November 2022","format":false,"excerpt":"Qatar\u2019s sovereign wealth fund might want in on our green hydrogen ambitions: The Qatar Investment Authority (QIA) is considering investing in a green hydrogen and ammonia project in the Suez Canal Economic Zone, Al Borsa reported yesterday, citing unnamed sources familiar with the matter.What we know: More than USD 1\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\/2022\/11\/53.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546335,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/12\/total-eren-enara-capital-to-build-green-ammonia-facility-in-sczone\/","url_meta":{"origin":578398,"position":3},"title":"Total Eren + Enara Capital to build green ammonia facility in SCZone","author":"enterpriseam admin","date":"12 May 2022","format":false,"excerpt":"Another green ammonia project: Egypt inked a memorandum of understanding with an alliance that includes Total Eren and Africa-focused SME investor Enara Capital to build a green ammonia plant in the Suez Canal Economic Zone (SCZone), according to a cabinet statement. The facility will initially produce 300k tons of ammonia\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/151.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":639823,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/15\/local-trade-offices-see-usd-11-6-bn-in-fresh-foreign-investment\/","url_meta":{"origin":578398,"position":4},"title":"Local trade offices see USD 11.6 bn in fresh foreign investment","author":"enterpriseam admin","date":"15 August 2024","format":false,"excerpt":"Most of the funds are destined for the energy sector","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\/2024\/8\/1361.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546043,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/26\/egypt-signs-green-energy-agreements\/","url_meta":{"origin":578398,"position":5},"title":"Egypt signs green energy agreements","author":"enterpriseam admin","date":"26 April 2022","format":false,"excerpt":"Egypt has signed major agreements with international companies to produce green energy in the Suez Canal Economic Zone (SCZone) in a step that could help turn the zone into a green energy hub. French energy giant EDF Renewables and Emirati energy firms AMEA Power and Masdar have agreed to establish\u2026","rel":"","context":"In &quot;Green economy&quot;","block_context":{"text":"Green economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/green-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/350.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\/578398","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=578398"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578398\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578386"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578399"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578398"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578398"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}