Cairo – Mubasher: Egypt expects net foreign direct investment (FDI) to reach between $8 billion and $8.5 billion in fiscal year 2016/2017, Reuters reported on Saturday citing remarks by planning minister Hala al-Saeed.
The Egyptian Government targets a 20% rise in foreign direct investment in FY17/18, the minister said.
Earlier, Egypt's investment and international cooperation minister Sahar Nasr said that net FDI in Egypt grew by 12% in FY16/17 to $6.6 billion, compared to $5.9 billion in the previous year.
Egypt plans to attract investments worth $13-$15 billion in the new fiscal year, which started this month.
