UN Report: Cairo Tops Africa’s Cities In Attracting Foreign Investments

Via: Fly2let

By Nada Hamouda

Egypt’s capital Cairo held the first place in Africa in terms of Foreign Direct Investment (FDI), as it ranked 64th at the international level, according to a United Nations report issued on Saturday.

The report is based on the estimation of foreign investment movement from 2013 to 2016. During this period, the report stated that Cairo attracted foreign investments worth $13.7 billion.

Via: Egypt Today

Moreover, at the Egyptian local level, Alexandria comes second with $2.5 billion compared to $1 billion for Sharm El-Sheikh, and $700 million in Port Said. Despite the latest economic and security challenges, the usage of modern technology and the administrative efficiency compared to other African cities are what ranked the Egyptian capital first on the list.

WE SAID THIS: With a population size of 19.5 million, Cairo is definitely an investors’ focal point.