The Fitch International report showed that the agricultural sector in Egypt is one of the most important sectors aimed at attracting more foreign direct investment.
The report said Egypt’s agricultural exports topped 6.3 million tons in 2022, setting a new record, rising by more than 624,000 tons from 2021, according to a statement released by the Egyptian Ministry of Agriculture on December 31, 2022. 2022 Egypt has opened about 19 new markets for its agricultural products to help increase exports.
The report highlights the various agricultural investment opportunities available in Egypt, apart from land reclamation projects, which include national projects such as the One Million Feddan New Delta Project.
A strong focus on domestic production is now expected, the report said, as the government seeks alternative markets to source key commodities and help localize production. However, encouraging foreign investment will remain an important tool in Egypt’s efforts to spur growth.
Source: Day Seven