Egypt says private investment share reached 65% of total
Investment Minister Mohamed Farid said private-sector investment topped EGP 1 trillion last year and FDI was about $15 billion excluding major deals.
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Egypt’s Investment and Foreign Trade Minister Mohamed Farid Saleh said in an official report published on October 18 that private investment made up about 65% of total investment, compared with a previous average range of 40% to 45%. He said private-sector investment exceeded EGP 1 trillion last year. Farid gave the figures on the sidelines of the launch of the Alam El Roum investment zone on Egypt’s North Coast.
Farid put foreign direct investment at around $15 billion excluding major deals. He also said the private sector employs around 70% or more of Egypt’s workforce and that sustaining annual growth of 5.5% to 6.5% would require investment at about 25% of GDP. These figures are the minister’s statements; the report does not provide calculation methods or period-by-period comparison tables.
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