Egypt received $1.5 billion in foreign direct investment in the first quarter of the 2015-16 fiscal year that began in July but expects a bigger inflow later in the year, Investment Minister Ashraf Salman said on Monday.

Salman told Reuters in an interview in Abu Dhabi that he expected to meet a target of $8-10 billion.

"I am bullish in the second half we will see more FDI flow in the country," he said on the sidelines of a renewable energy summit.