Direct foreign investments rise in first quarter of FY2011/12

Direct foreign investments (FDI) in Egypt in the first quarter of fiscal year 2011/2012 have more than tripled, increasing by US$341 million over the preceding quarter.

The total amount of FDI was $440 million in the first quarter, up from $99 million in the fourth quarter of last year.

However, the Ministry of Planning and International Cooperation report said although first quarter FDI was higher than the previous quarter, it dropped by $1.2 billion, or 72.5 percent, from the same quarter the year before.

Net inflows from FDI decreased in the third quarter of fiscal year 2010/11, dropping by almost 125 percent compared to the same quarter the year before.

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