How much FDI is needed in Egypt's energy sector?

FDI is concentrated in the oil and gas industry (around three-quarters of total investments), followed by real estate, manufacturing, financial services and construction. The International Finance Corporation (IFC) believes that EGP 2 Trillion are required to brought into Egypt’s energy sector in climate-smart investments by 2030.

Will EGP 2 trillion be needed in Egypt's energy sector?

The International Finance Corporation (IFC) believes that EGP 2 Trillion are required to brought into Egypt’s energy sector in climate-smart investments by 2030. Egypt is expected to overtake South Africa in the next decade to become the largest electricity market in Africa.

Why does Egypt need more energy?

As the most populous country in the Middle East, with 100 million citizens estimated in 2020, Egypt faces rising energy demand driven by rapid population growth and an expanding economy. This creates significant challenges in maintaining a steady and continuous supply of energy and opportunities for the sector’s development.

Why is investment important in Egypt?

Attracting investment, both foreign and domestic, is a priority for Egypt’s government. In 2017, Egypt ratified a landmark investment law that will modernise and reduce barriers to how international companies invest and operate in Egypt.

Why is Egypt promoting electrical interconnection projects?

Egypt is working hard in the direction of promoting electrical interconnection projects, which plays an important role in enhancing energy security and increasing the use of renewable energy in the medium and long term.

Which countries invest the most in Egypt?

The UK is by far the largest investor in Egypt, followed by Belgium, the USA and UAE. FDI is concentrated in the oil and gas industry (around three-quarters of total investments), followed by real estate, manufacturing, financial services and construction.