Egypt stepped ahead of Turkey, Morocco, South Africa, and Russia, ranked 14th among the world’s top attractive, and trusted emerging markets for foreign investments, according to Kearney’s 2023 Foreign Direct Investment (FDI) Confidence Index.
Kearney’s 2023 FDI Confidence report illustrated that investors globally are prioritizing transparency of government regulations, tech capabilities, and tax rates in making investment decisions.
According to the report, the global economy is performing better in 2023 than the year before. Further, Egypt exerts efforts to attract foreign direct investments. Egypt is implementing a broad privatization program to offer 32 state-owned companies operating in 18 sectors to strategic investors within a year under an economic reform program with the IMF.
22 recently approved decisions to encourage FDIs and private investments in Egypt include many proposals for legislative amendments for the government, including reducing the cost of establishing companies, simplifying the required approval procedures and their duration, and expanding the issuance of the Golden License.
“After months of economic projections suggesting a (potentially major) recession might be looming, the outlook was showing signs of improvement in the new year. Inflation was ticking downward, and labor markets in key markets appeared to be rebalancing,” the report stated.
Kearney released data showing that global FDI inflows rose slightly from an estimated $2.07 trillion in 2021 to $2.13 trillion in 2022.
The U.S. Kearney is a global management-consulting firm that provides strategic advice to businesses, governments, and institutions and has been operating for nearly 100 years now.
