UAE investments in Egypt rise by 169% in 6 months

Emirates investments in Egypt reached US$1.9 billion (AED6.98 billion) during the first half of 2021-2022, up 169.1 percent from US$712.6 million (AED2.617 billion) in the same period of fiscal year 2020-2021,  Egyptian Central Agency for Public Mobilisation and Statistics (CAPMAS) revealed. 

In a statement on Sunday, CAPMAS said 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, which is an increase of 1.4 percent.

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