Industry & Trade
$4.3bn Total Investments Of 20 Arab Countries In Egypt Since 2011: GAFI
Published 2015-03-29 08:09:43| Amwal Al Ghad English
Cairo The total amount of Arab investments as capital in newly created companies since 2011 is approximately $4.3bn, according to Hassan Fahmy, Chairman of the General Authority for Investment and Free Zones (GAFI). Daily News Egypt looked through the GAFI report, which reveals full details of total companies established by Arab countries between 2011 and February 2014. It showed that this reached 4,047 companies with foreign capital of over $13bn, only $4.3bn of which came from Arab countries. These covered several sectors, including industry, service, finance, agriculture, tourism, construction, and communications. Qatar sits on the throne of the Arab country with most investments in Egypt at about $1.3bn in contributions to 47 companies The report revealed Qatar to be the topmost Arab investor, and was involved in the establishment of 46 new companies between 2011 and February 2014. This included a capital contribution value in these companies estimated at about $1.3bn. The amount of exported capital to these companies reached $2.04bn. The service sector dominated the biggest share of new Qatari companies at about 25 companies. This was followed by the construction sector with about seven companies, then the agricultural sector, the industrial sector, the communications sector, the tourism sector and the finance sector. According to the report, Cairo received the biggest share of Qatari capital with about 28 Qatari companies. This was followed by Giza and the northern governorates, at the expense of Upper Egypt’s governorates, which did not get a share of these companies.
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