Cairo –  Egypt was the top African and third Arab country in terms of attracting foreign direct investment (FDI) during 2020, First Assistant of the Minister of Supply and Chairman of the Internal Trade Development Authority, Ibrahim Ashmawy, was cited by the Middle East News Agency (MENA).

The most populous Arab nation attracted $2.6 billion, representing 15% of total FDI flows into the African continent, amounting to $39.9 billion, Ashmawy added.

Spending of Egyptians on foods and services reached $2.1 trillion last year and a third of which were directed to food products, he noted.

On a side note, Ashmawy added that a number of commodities will be traded on the new commodities exchange (EGYCOMEX) during the first quarter (Q1) of 2022.

Source: Mubasher

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