Egypt: Nasr - New Investments Increased By 24 Percent in Fiscal Year 2016/2017

Minister of Investment and International Cooperation Sahar Nasr announced Wednesday that foreign direct investment (FDI) during the fourth quarter of the fiscal year 2016/2017 recorded an increase of 29 percent to reach dlrs 1.35 billion compared with dlrs 1.05 billion during the same period of the previous year.

Addressing a seminar organized by the American Chamber of Commerce under the title "Looking Forward to the Future...Opening New Investments in Egypt", Nasr said new investments during the fiscal year 2016/2017 increased by 24 percent as some 17,235 new companies have been established over the past period compared with 13,924 companies during the previous fiscal year.

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