Director of COMESA Regional Investment Agency Heba Salama said that Egypt's investments in nearly 62 projects in Africa amounted to dlrs 7.9 billion, while African investments in Egypt reached dlrs 2.8 billion.
In statements to MENA on Thursday, Salama said that Egypt's investments in Africa started in 1970 in the construction sector, chemicals, mining, cosmetics and pharmaceuticals, communications, electronic components and financial services.
While African countries invest in Egypt in the fields of agriculture, industry, services, tourism, construction and IT and communications, she added.
There are 35 Egyptian companies investing in Africa since 1970, she said. Between 2003 and 2015, Egypt invested nearly dlrs 2.4 billion in the construction sector in Africa, she added.
She further noted that the largest investors in Africa are Egypt's Orascom Construction, ASEC Cement, NCB Capital, Reyada Construction Industries, ASCOM Geology and Mining, Elsewedy Electric (Elsewedy Cables), Egyptian International Pharmaceuticals Industries Co SAE (EIPICO), MobiServe Holding, the National Bank of Egypt and Acrow Misr Company for metal scaffolding and scaffolding.
Egypt's top destinations for foreign direct investment (FDI) in Africa are Algeria, Sudan, Libya, Nigeria, Morocco, Ethiopia, Swaziland, Tanzania, Kenya and Cote d'Ivoire, Salama added.
MENA
Source: Egypt's investments in Africa amount to dlrs 7.9 billion
No comments:
Post a Comment