Egypt Endless Opportunities

Egypt is the fourth largest economy in the Middle East and the second largest in Africa. It is increasingly establishing itself on the global investment map. Egypt remains by far the country attracting the largest annual foreign direct investment inflows in Africa. Compounded total FDI in Egypt stands at nearly USD 110 billion. In the last few years, Egypt’s economic indicators exceeded IMF expectations even during the COVID-19 pandemic, being one of the few developing countries to record positive economic growth rates. For the fiscal year 2021/2022, Egypt is targeting a growth rate of 5.4%, while Standard Chartered Bank is expecting Egypt to join the world’s ten largest economies by 2030.

Investors consider Egypt’s exceptional advantages. It has a strategic geographic location at the crossroads linking Africa, Asia and Europe, possesses a qualified low-cost labor force, a massive domestic market with a population exceeding 100 million, its tourism potential is enormous, it holds colossal energy and mineral resources, its economy is well-diversified, and the government strategy is continuously working to improve the business climate and the living standards of its citizens.

“Egypt Vision 2030” identifies a number of macroeconomic goals including raising annual GDP growth to 12%, GDP per capita to USD 10,000, share of global GDP to 1%, reducing unemployment to 5%, inflation rates to 3-5%, public debt as a share of GDP to 75%.

A new investment law ratified in 2017 has changed the landscape of business in Egypt by reducing barriers for foreign companies, offering incentives and providing new tools to ease international investment. Egypt, now more than ever, has a competitive edge in its region.

Egypt’s vital tourism sector has also shown early signs of recovery from the setbacks caused by the COVID-19 pandemic, as the country is welcoming inbound foreign tourists since July 2020 to explore its marvelous historical treasures and resorts while adhering to strict health guidelines.