CAIRO, Feb 26 (MENA) – Prime Minister Mostafa Madbouli announced that Egypt attracted $2.7 billion in foreign direct investment (FDI) in the first quarter of fiscal year 2024-2025.

In a press briefing following the weekly Cabinet meeting, Madbouli noted that remittances from Egyptians abroad are also rising, while exports and industrial development continue to expand.

The premier also added that the government is closely monitoring strategic commodity reserves. A meeting with the Central Bank governor and many ministers reviewed yesterday food, energy, and essential supply levels for Ramadan and summer 2025, according to him.

Madbouli highlighted President Abdel Fattah El Sisi’s recent tour, which included Spain and Saudi Arabia. The presidential trip focused on coordination regarding Gaza and preparations for the upcoming Arab summit in Cairo on March 4.

The premier also shed light on his recent visit to Kuwait, where talks focused on expanding economic cooperation and new investment projects. He hinted at upcoming major announcements in trade and investment between the two nations. (MENA)
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