UNCTAD (United Nations Conference on Trade and Development) has announced that Egypt topped African countries in attracting foreign direct investment (FDI) with a value of $10 billion, out of a total of $52.633 billion in FDI inflows to Africa, and out of $13.461 billion for all North African countries, compared to $5.2 billion for South Africa.
According to the organization, Egypt’s investment inflows represent about three times the investment flowing to each North African country.
Egypt has topped the continent in FDI inflows in recent years, driven by the attractiveness of the Egyptian economy and the significant investment opportunities in the Suez Canal Economic Zone and other investment sectors, especially in the field of new and renewable energy.
FDI inflows to developing countries fell by 7% to $867 billion, and difficult financing conditions, according to the organization’s official website, led to a 26% decrease in international project financing deals.
The organization revealed that Egypt attracted three times more FDI than North African countries: Morocco attracted $1.095 billion in 2023, Libya attracted no direct investment due to the security situation there, Tunisia attracted $768 million, and Algeria attracted $1.216 billion, ranking second in North Africa after Egypt, followed by Morocco in third place.
