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| 21 July, 2018

Cairo becomes most attractive city for investments in Africa - UN

Cairo and Johannesburg remain the most vital gates for businesses to expand in African markets

National Bank of Egypt head offices, the St. Regis Cairo hotel and Hilton Cairo World Trade Center Residences are seen towering above residential buildings in the downtown Cairo, Egypt, May 6, 2018.

National Bank of Egypt head offices, the St. Regis Cairo hotel and Hilton Cairo World Trade Center Residences are seen towering above residential buildings in the downtown Cairo, Egypt, May 6, 2018.

Getty Images/Mohamed Abd El Ghany

Cairo: Egypt has ranked first among African cities in terms of attractiveness to investment, as it ranked 64th globally surpassing South Africa’s Johannesburg and Morocco’s Tangier, according to a recent report by the United Nations.

The report followed foreign investment inflows between 2013 and 2016, showing that Cairo was resilient in the face of economic, political, and security challenges, as reported by the Middle East News Agency (MENA).

Cairo and Johannesburg remain the most vital gates for businesses to expand in African markets.

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Meanwhile, Alexandria ranked second among Egyptian cities and 23rd among African cities, with Sharm El-Sheikh ranking 3rd locally and 38th on the continental level, while Port Said was fourth in Egypt and 39th in Africa.

During this period, Cairo attracted foreign investments of $13.7 billion, compared with $13.2 billion in Johannesburg, $10.5 billion in Tangier, $2.5 billion in Alexandria, and $1 billion for Sharm El-Sheikh, and $700 million in Port Said.

Source: Mubasher

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