Egypt Is To Become The First Arab And First African Country To Sign The OECD Investment Declaration

On 11 July 2007, Egypt became the first Arab and first African country signing the OECD Investment Declaration. This marks a new stage in Egypt's drive to attract more foreign direct investment (FDI). A series of policy reforms have helped to underpin a fifteen-fold increase in Egypt's FDI between 2001 and 2006. FDI reached a record USD 9 billion in the first three quarters of its 2007 fiscal year compared with USD 6.1 billion for the whole of 2006.