Saudi investments totaling $62.2 million (SR233.25 million), were the second largest among the investors from the Arab world in Egypt during the fourth quarter of 2012-2013 financial year, local media said quoting a report released by Egypt’s central bank.
The UAE investments topped the list of Arab investors in Egypt during Q4 at $226.7 million compared to $69.3 million in Q3, or an increase of 227 percent, the report said.
Saudi investments were in the second place after those from the UAE during Q4 at $62.2 million, followed by Bahrainis $41.9 million and Kuwaitis $13.7 million, whereas Qatari investments dropped by 97 percent to $8.8 million, the report added.
The foreign direct investments (FDIs) in Egypt rose by 51.5 percent to $553.9 million during Q4 to a total of $1.62 billion compared to $1.07 billion in Q3, the report said.
The rate of capital outflows narrowly increased during Q4 to $1.10 billion compared to $1.08 billion in Q3.Meanwhile, capital inflows totaled $2.73 billion in Q4 compared to $2.15 billion, the report said.
According to the report, investments of the European Union (EU) countries topped the overall foreign investments in Egyp t in Q4 which grew by 59 percent to $1.51 billion compared to $954.9 million in Q3.
The UK was the biggest investor during the period at $1.61 billion, followed by Belgium $189.9 million, France $74.5 million, and Germany $35.7 million. The US investments of $527.7 million came second in terms of regions compared to $445.5 million in Q3, the report said.