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February 1, 2023
Business

169 percent increase in UAE investments in Egypt in six months

According to the Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS), Emirati investments increased by 169.1 percent during the first half of the fiscal year 2021-2022 to US$1.9 billion (AED6.98 billion), compared with US$712.6 million (AED2.617 billion) during the same period of the fiscal year 2020-2021.

169 percent increase in UAE investments in Egypt in six monthsIt was revealed today by CAPMAS that the value of trade exchange between Egypt and the UAE increased by 1.4 percent to US$1.2 billion in the first quarter of 2022 from US$1.1 billion in the same period last year. During the 2020-2021 fiscal year, Egyptians working in the UAE sent US$3.5 billion in remittances, an increase of 1.4% compared to US$3.4 billion during the 2019-2020 fiscal year.

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