Banking & Finance UAE investment in Egypt up 169% to $1.9bn in first six months By Pramod Kumar August 22, 2022, 4:59 AM Creative Commons The value of remittances from Egyptians working in the UAE reached $3.5 billion during the period, rising 1.4 percent year-on-year. UAE investments into Egypt increased to $1.9 billion (AED 6.98 billion) during the first half of the fiscal year 2021-2022, rising 169 percent year-on-year, UAE state-owned news agency WAM reported, citing Egyptian government data. According to the Egyptian Central Agency for Public Mobilisation and Statistics (CAPMAS), the value of the trade between Egypt and the UAE increased to about $1.2 billion during the first quarter of 2022, compared to $1.1 billion in the previous year. The value of remittances from Egyptians working in the UAE reached $3.5 billion during the period, rising 1.4 percent year-on-year. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
