Impact of the Corona Pandemic on Foreign Direct Investment – A case study on Egypt
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Foreign Direct Investment, Corona Pandemic, UNCTAD, Egyptian Central Bank, Egypt
Abstract
Foreign direct investment enjoys benefits that stimulate economic growth, which made many countries, especially developing ones, account the considerations that help attract it. However, the great spread of the Corona pandemic, it has made international economies in a state of uncertainty, and it is expected that the pandemic will have significant impacts on FDI, as UNCTAD has expected a decrease in global FDI by ranging between 30% - 40%, in Whereas, before the epidemic, it was expected to grow by 5% during the (2020-2021). This impact will have repercussions, especially on the economies most affected by the pandemic, as a result of the effects of the production stoppage. Egypt is one of the countries affected, like the rest of the world, by the pandemic, and it is expected that FDI in Egypt will decline to 3380 million US dollars in the second quarter of 2020, compared to the first quarter in which foreign investments amounted to 4899 million dollars, according to Central Bank statistics Egyptian. so the study aims to study the impact of the Corona pandemic on the volume of FDI flows to Egypt. Where the researcher compares the volume of FDI flows to Egypt before and after the pandemic. The study concluded that the Corona pandemic will lead to a halt in the movement of individuals and goods, and thus lead to a decline in FDI, and thus will lead to an increase in unemployment rates and a decrease in the flow of foreign currencies to Egypt.
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