​​​​​​​​​​​Prime Minister, Dr. Mustafa Madbouly reviewed a report presented by GAFI CEO,
Counselor Mohamed Abdel Wahab, on a number of positive results included in the
United Nations Conference on Trade and Development (UNCTAD) "World Investment
Report 2021".
GAFI CEO confirmed that the report indicated that Egypt maintained the leading
position in terms of being the largest recipient of foreign direct investments (FDIs) in
the African continent in 2020, with a total net foreign investment flows of about $5.9
billion. He added that the report monitored Egypt’s tangible efforts to promote FDI in
various economic sectors, especially in light of the agreement to launch the Egyptian-
Saudi Investment Fund, which gives priority to economic sectors, among which are
tourism, health, pharmaceuticals, infrastructure, technology, financial services,
education, and food.
Counselor Mohamed Abdel Wahab added that such positive indicators were achieved
although the UNCTAD report indicated that COVID – 19 pandemic caused a decline in
net FDI of the African continent by 16% in 2020 to reach about $40 billion, compared
to about $47 billion in 2019. In addition to the global foreign investment flows being
negatively affected by the Corona virus pandemic (COVID – 19), as the report indicated,
to decrease by 35% because of the lockdown procedures, which led to the slowdown of
existing investment projects. Moreover, many major companies had second thoughts on
their planned projects because of the possibilities of economic recession in many
countries during 2020.
Abdel Wahab indicated that the report expected a recovery in global FDI flows during
2021 to grow between 10% - 15% since various economies reduced the lockdown
restrictions in conjunction with the provision of COVID – 19 vaccines. In addition to
the expectation that the global FDI flows will return to the same levels prior to the
Corona pandemic in 2022, in light of the improvement of the global economy during the
next two years.​​​​​​