US investments in Egypt increase by 26%: Prime Minister Madbouly

MENA , Monday 18 Nov 2019

Egypt’s prime minister Mostapha Madbouly (Al-Ahram)
Egypt’s prime minister Mostapha Madbouly (Al-Ahram)

Prime Minister Mostafa Madbouly said Egypt's economy had become one of the world’s top 10 economies in terms of attracting direct foreign investments and growth rates.

Speaking at an event organised by the US Chamber of Commerce marking the 40th anniversary of the US-Egypt Business Council, the Egyptian premier said on Monday that US investments in Egypt hit over $22 billion in 2019; a 26 percent increase on 2017. 

Such investments were made by more than 1,500 US companies operating in different economic fields, including oil, renewable energy, agriculture, foodstuff, industry, communications and information technology. 

Madbouly underlined that Egypt held the first position in attraction of foreign direct investments in Africa. 

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