Direct US investments in Egypt up 25 percent
A 25 percent increase in the flow of American direct investments to Egypt over the year 2000, made Egypt the fourth largest regional recipient of American direct investments. Egypt received $2.735-billion worth of American direct investments during the year 2000, up from $2.19 billion in the previous year of 1999, according to Al-Hayat daily.
The Kingdom of Saudi Arabia ranked first in the Middle East in terms of direct American investments inflow, receiving $4.784 billion over the year 2000, experiencing an eight percent growth from the 1999 figure of $4.426 billion, reported Al-Watan. Algeria, with $3.339 billion worth of US direct investments captured the second position, while Israel the third, with direct US investments growing over 12 percent from 1999’s $3.051 billion, to 2000’s $3.426 billion.
Egyptian officials have stated their intent to raise the value of the fluxing American investments into Egypt to three billion dollars in the future, to represent four percent of the gross domestic product. — (MENA Report)
© 2001 Mena Report (www.menareport.com)