Focus Report: New cities and mega-projects are driving growth in Egypt
29 Jun 2022
During a time of heightened global macroeconomic uncertainty, progress on new cities and mega-projects has helped Egypt maintain positive economic growth during the pandemic. Demographic expansion has fuelled the need for infrastructure and urban expansion, creating significant demand for road, rail and utilities, as well as new housing and government facilities. At the same time, ICT infrastructure has become increasingly important to ensure connectivity throughout an economy that is experiencing substantial digitalisation across the board.
Since early 2022 the consequences of Russia's invasion of Ukraine have led to a greater focus on food and energy security, both of which will be bolstered by key agriculture and energy projects already under way. At the centre of these lies the innovation and development designed to bolster short-term resilience and shore up long-term growth in the broader economy.
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