Services account for nearly 60% of Egypt’s FDI inflows in FY2022/2023: CBE

Ahram Online , Sunday 3 Dec 2023

The services sector was the top recipient of foreign direct investments (FDI) in Egypt during the fiscal year (FY) 2022/2023, recording $5.94 billion, or 59.16 percent of that year’s total FDI, according to the External Position report released by the Central Bank of Egypt (CBE).

Employees in a call center agency in Egypt.
Employees in a call center agency in Egypt.


Among the services sector, the financial segment ranked first with $2.13 billion, followed by communication and information technology with $836 million. 

The Egyptian government is paying substantial attention to the services sector, especially outsourcing, whose export revenue the government hopes to double, reaching up to $9 billion by 2026.

After the services sector, manufacturing came in second as a destination for FDI, with $3.34 billion. Real estate came third with $552.3 million.

Egypt’s net inflows of FDI registered $10 billion in FY2022/2023, up from $8.9 billion a year earlier.

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