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USA: Top Investor in Egypt

The United States tops the list of investing countries in Egypt, according to official Egyptian statistics. It is the largest petroleum and second largest non-petroleum, non-Arab, foreign direct investor in the country.

American companies have invested more than US$ 6 Billion in Egypt in the past 12 months, almost 11% of U.S. foreign direct investment (FDI) in the Middle East and Africa.

Egypt's investment authority calculated U.S. foreign direct investment (FDI) at $1.46 billion divided among some 500 companies, up from $589 million in 2005.

U.S participation in companies’ capital is highest in the chemicals sector, followed by engineering and pharmaceuticals. Textile companies rank fourth.

In addition to their dominant role in the energy sector, U.S. firms are active in the banking sector and in a wide range of manufacturing industries, producing goods for the domestic and export markets. U.S. multinationals investing in Egypt include American Express, AIG Insurance, Bechtel, Bristol-Myers Squibb, Citibank, Coca Cola, Energizer, General Motors, GlaxoSmithKline, H.J. Heinz, Johnson & Johnson, Microsoft, PepsiCo, Pfizer, Procter and Gamble, and Xerox.

The United States is Egypt's largest single trade partner and the second largest trading bloc after the European Union.

US Backs Egypt

In the next three years the US government will give scholarships to 330 people from Egypt for technical and industrial further education in the United States. They will return to Egypt and teach those skills to elevate the level of the Egyptian workforce and be competitive on the world stage.

US-Egypt trade up 50%

“Focus on trade not aid as the principal measures of the success of the health of the friendship between the United States of America and Egypt. In 2004, our bilateral trade was a little over 4 billon dollars… in 2006 we got over 6 billion dollars.”

Mr. Francis J. Ricciardone

US Ambassador to Egypt

Egypt Adopts Global Rules

“Reform measures initiated by the Egyptian Government aim at establishing a modern and dynamic economy, based on transparent policies that are anchored to a strong legal framework and effective market institutions working to international best practice standards.”

Dr. Mahmoud Moheildin

Minister of Investment, Egypt

 

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