UAE investments in Egypt rise by 169% in 6 months

Newspaper Title: https://www.zawya.com/

Newspaper Number:

Monday - 22 August 2022

CAIRO: The data of the Egyptian Central Agency for Public Mobilisation and Statistics (CAPMAS) has revealed that the value of Emirati investments in Egypt increased to US$1.9 billion (AED6.98 billion) during the first half of the 2021-2022 fiscal year, compared to US$712.6 million (AED2.617 billion) during the same period of the fiscal year 2020-2021, an increase of 169.1 percent.

In a statement today, CAPMAS revealed that the value of the trade exchange between Egypt and the UAE increased to about US$1.2 billion during the first quarter of 2022, compared to US$1.1 billion during the same period in 2021, an increase of 1.4 percent.

According to the statement, the value of remittances from Egyptians working in the UAE reached US$3.5 billion during the 2020-2021 fiscal year, compared to US$3.4 billion during the 2019-2020 fiscal year, an increase of 1.4 percent.