Nasr: Egypt realized leap in infrastructure projects, legislative reforms

Investment and International Cooperation Minister Sahar Nasr said Egypt realized a great leap in infrastructure projects and legislative reforms.

Making the remarks during a high-level round table meeting held on the fringe of the Davos Forum, she referred to the issuance of the investment law in addition to amendments to legislation to encourage investment.

She noted that the ministry is keen on luring investments and encouraging small and medium-sized enterprises.

According to a press release by the Investment and International Cooperation Ministry, the round table discussion tackled a report of the United Nations Conference on Trade and Development (UNCTAD), which was issued on Monday 21/1/2019.

The report said that although the Global foreign direct investment (FDI) inflows fell by 19 per cent, in 2018, to an estimated $1.2 trillion, African FDI flows were up 6%, though growth was concentrated only in a few countries such as Egypt and South Africa.

In 2018, Europe’s foreign investment inflows amounted to $100 billion � an unprecedented 73% decline � and a value last seen in the 1990s. The United States also saw its inflows dip to $226 billion, a decline of 18%.

UNCTAD report showed that FDI to developing economies increased by 3% to $694 billion in 2018. Developing nations accounted for half of the top 10 host economies for FDI inflows.

Of the developing economies, Asia and Africa benefited the most, with flows increasing to developing countries in Asia by 5%, the report said.

East and South-East Asia, where inflows were up 2% and 11% respectively, took the lion’s share of foreign investment, accounting for one-third of global FDI in 2018 and almost all growth in FDI to developed economies.

Greenfield announcements in developing economies rose by 47% reaching an estimated $539 billion and linked to Asian growth prospects.

Source: State Information Service Egypt