СЪВРЕМЕННИ ПРОБЛЕМИ И ТЕНДЕНЦИИ В ИКОНОМИКАТА НА ЕГИПЕТ

Abstract

The Egyptian economy continues to attract foreign capital in all fields of activity, and FDI has been gathering speed since 1989, when the Investment Law was revised so as to allow foreign companies 100 percent ownership of projects. Over the past three years, FDI was further boosted by the upturn in economic growth and by the series of structural reforms and liberalization measures undertaken since 1991. UNKTAD comparisons show that Egypt ranked ninth among host developing countries in terms of the size of FDI flows that have materialized over the 1981 to 1992 decade, with a reported cumulative value of FDI of $7.8 billion. Figures published by Egypt`s Investment Authority show that the participation of foreign capital in law 230 projects (that is excluding those operating in petroleum, those related to law 1 for tourism or those under the umbrella of Law 159 for companies) reached a cumulative equity value of LE 13 billion by mid 1996 at 30 percent of total authorized capital of LE 44 billion. In dollar terms (given the three large devolution of 1979, 1987, and 1991), and when account is taken of total investment cost ( by adding long term loans), the figure for Law 43 FDI would be significantly larger.