São Paulo – Egypt was the country that attracted the most foreign direct investment (FDI) in the first half of this year, the website of newspaper Al Ahram quoted the United Nations Conference on Trade and Development (UNCTAD) as reporting.
UNCTAD said Egypt saw USD 3.6 billion in FDI, with Africa as a whole getting USD 23 billion in H1, down 2% from H1 2018.
According to UNCTAD, Egypt remains the premier FDI destination in the continent, on the back of an economic reform program being rolled out since November 2016, leading to improved macro indicators and investment climate.
Global FDI flows amounted to USD 650 billion in H1, up 24% year-on-year. UNCTAD expects investment to cool off as trade tensions mount around the globe.
Translated by Gabriel Pomerancblum
