{"id":627908,"date":"2018-06-14T04:09:58","date_gmt":"2018-06-14T04:09:58","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/14\/carnegie-endowment-says-the-government-isnt-doing-enough-to-improve-fdi\/"},"modified":"2018-06-14T04:09:58","modified_gmt":"2018-06-14T04:09:58","slug":"carnegie-endowment-says-the-government-isnt-doing-enough-to-improve-fdi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/14\/carnegie-endowment-says-the-government-isnt-doing-enough-to-improve-fdi\/","title":{"rendered":"Carnegie Endowment says the government isn\u2019t doing enough to improve FDI"},"content":{"rendered":"

Carnegie Endowment says the government isn\u2019t doing enough to improve FDI:<\/strong> The Carnegie Endowment for International Peace is taking a short-term view when it comes to how foreign direct investment has responded to the economic reform measures. \u201cAfter eighteen months of turbulent economic changes, foreign investors have shown remarkably little appetite for long-term investment in the Egyptian economy,\u201d writes Brendan Meighan<\/a>. He notes that FDI has and continues to fall short of the USD 10 bn target set out by the government, citing CBE data showing FDI in the non-oil sector falling to USD 3.07 bn in FY2016-17, from USD 3.2 bn in FY2015-16. Meighan is dismissive of the government\u2019s line that investors are waiting for the effects of reform to take place before committing to long-term investments, even though the reform process hadn't really started until November 2016.<\/p>\n

The argument is a wind-up to what we see as Meighan\u2019s central point: The government and the armed forces hold too much control of the economy. <\/strong>Letting go of key sectors of the economy will unlock FDI, he suggests, dismissing in the same breath the government\u2019s privatization program.<\/p>\n

Also worth a quick skim: Archaeologists from Yale University unearthed 3,500 year old rock art <\/strong>depicting bulls, donkeys and sheep in Egypt\u2019s Eastern Desert, the Associated Press reports.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Carnegie Endowment says the government isn\u2019t doing enough to improve FDI: The Carnegie Endowment for International Peace is taking a short-term view when it comes to how foreign direct investment has responded to the economic reform measures. \u201cAfter eighteen months of turbulent economic changes, foreign investors have shown remarkably little appetite for long-term investment in […]<\/p>\n","protected":false},"author":1,"featured_media":627909,"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":[7233],"tags":[2386,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-egypt-in-the-news","tag-egypt-in-the-news","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"765ff2fe-f13a-41ac-af68-57e5d6bddc32","order":"0","is_powered_by":true,"section_story_id":"6519e097-9103-496a-80c4-e8f50fc18b9c","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/6\/1214.jpg","photo_position":"above","related_issue":[627884],"teaser":"","voice_url":""},"yoast_head":"\nCarnegie Endowment says the government isn\u2019t doing enough to improve FDI - 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FDI is expected to reach USD 20 bn by the end of the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651272,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/08\/the-trials-of-the-egyptian-pound\/","url_meta":{"origin":627908,"position":1},"title":"The Trials of the Egyptian Pound","author":"enterpriseam admin","date":"8 February 2017","format":false,"excerpt":"The EGP will likely rebound in the long run, but its recovery will be slow given pent-up demand for USD, writes Brenden Meighen for the Carnegie Endowment for International Peace. Meighan sees the rebound as conditional on domestic businesses being able to ramp up production import substitutes while lower relative\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547271,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/egypts-fdi-might-outdo-much-of-the-world-in-2022\/","url_meta":{"origin":627908,"position":2},"title":"Egypt\u2019s FDI might outdo much of the world in 2022","author":"enterpriseam admin","date":"15 June 2022","format":false,"excerpt":"Egypt saw foreign direct investment inflows fall 12% in 2021 but remained the second-largest recipient of FDI in Africa after South Africa, according to the UN. Figures in the 2022 World Investment Report (pdf) show that the country received USD 5.12 bn of FDI last year, down from USD 5.9\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/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":548240,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/govt-has-ambitious-fdi-export-targets-this-year\/","url_meta":{"origin":627908,"position":3},"title":"Gov\u2019t has ambitious FDI + export targets this year","author":"enterpriseam admin","date":"1 August 2022","format":false,"excerpt":"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\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/98.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584764,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/05\/economic-reform-a-must-to-avoid-depreciation-inflation-cycle-goldman\/","url_meta":{"origin":627908,"position":4},"title":"Economic reform a must to avoid \u201cdepreciation-inflation cycle\u201d -Goldman","author":"enterpriseam admin","date":"5 April 2023","format":false,"excerpt":"Our problem is exports, not imports","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/208.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599049,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/17\/egypt-fdi-falls-in-2018-amid-global-investment-drop-off\/","url_meta":{"origin":627908,"position":5},"title":"Egypt FDI falls in 2018 amid global investment drop-off","author":"enterpriseam admin","date":"17 June 2019","format":false,"excerpt":"Foreign direct investment into Egypt fell 8.2% in 2018 amid global investment drop-off: Egypt retained its position as the largest recipient of foreign direct investment in Africa last year despite inflows falling 8.2% to USD 6.8 bn, according to UN figures. 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