EGYPT INVESTMENT MAP TO PROVIDE MORE THAN 600 OPPORTUNITIES IN DIFFERENT GOVERNORATES, SAYS SAHAR NASR
THE NEW INVESTMENTS RAISES 24% DURING THE FY 2016/2017
Minister of Investment and International Cooperation, Sahar Nasr said that the new investment map will provide more than 600 investment opportunities in different governorates of Egypt.
Nasr who was speaking during investors meeting held by CI Capital called on the banks and investment funds operating in Egypt to expand their investments.
The meeting was attended by “Silk Invest”, which has a volume of investments of about $800 m globally, and “Bellevue” that has investments size about $4.6 bn globally, and “Sustainable” that has investment size of $250m.
It was also attended by Sanlam that has a total investment of $ 6.3bn, RIMCO that has $1.4 bn globally and Oppenheimer Funds that has investment size of $137.4bn and Nbk capital that has investments of $640m.
In other context, Nasr said that the net foreign direct investments inflows increased by 29% in the Q4 of the fiscal year 2016-2017 to reach USD1.35bn compared to $1.05bn during the same period of last year.
Net foreign direct investment inflows during Fiscal year 2016/2017 increased by 14.5%, according to Nasr, who was attending another seminar held by the American Chamber of Commerce.
She pointed out that the new investments that include newly established outfits and the expansions in existing companies increased by 24% during the fiscal year 2016/2017 to reach about 17235 companies compared to 13924 companies during the last FY.
She explained that this increase is due to the increase in the number of the newly established companies during the FY 2016/2017 by 26% to reach about 15200 companies compared to 12084 ones in last year.
While the number of companies that have expanded during the fiscal year 2016/2017 increased by 10.5% compared to last FY.
She stressed that the number of new established companies during the Q4 in the past fiscal year rose by 18% to reach 3566 companies compared to about 3033 during the same period of the last FY.