|27 February, 2020

Industrial investments in Egypt hit $6.35bln in FY18/19

Investments in the petroleum industries rose by 95%

A truck drives in front of factory chimneys on the outskirts of Cairo, Egypt October 30, 2018.

A truck drives in front of factory chimneys on the outskirts of Cairo, Egypt October 30, 2018.

REUTERS/Mohamed Abd El Ghany

Cairo – Mubasher: Investments in the industrial sector in Egypt rose by 22% year-on-year to EGP 99.5 billion in fiscal year 2018/2019, compared to EGP 81 billion, the minister of planning and economic development Hala El-Saeed revealed.

The value of gross domestic product (GDP) at current prices in the manufacturing industry grew by 17.9% to EGP 846 billion in the 12-month period ended 30 June 2019, El-Saeed said in a statement on Wednesday.

Moreover, investments in the petroleum industries rose by 95%, she added, referring to efforts to increase investments in the manufacturing industry which will in turn spur job creation.

Source: Mubasher

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