News

Egypt sets $11bn FDI target

The Egyptian government is looking to increase its foreign direct investment by more than 40% and create 750,000 jobs in the current fiscal year as part of a five year development plan. Egypt raised $7.9 billion in FDI in the last fiscal year, ending June 2018 and is now looking to reach an $11 billion target. Planning minister Hala al-Saeed has also forecast a rise in economic growth to 8% for the 2021-22 fiscal year, up from the 5.8% forecast for 2018-19.  The plan is also aiming to raise non-oil exports by an annual average 13% to $35 billion and increase average savings to 23% by 2021-22. Earlier this year the Egyptian government approved a bill to establish its first sovereign wealth fund with $11.3 billion in initial capital. ©2018 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

Roundtables

ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.