Egypt’s robust fundamentals – supported by a diversified economy, sustained levels of consumer spending and a large workforce – has created a dynamic business climate and helped further develop the economy. This has enabled the country to avoid some of the more severe repercussions of the Covid-19 pandemic faced by neighbouring nations. According to IMF forecasts, GDP is expected to expand...
Egypt Economy
Located at the geographic centre of the MENA region, Egypt has a well-documented history that has seen it accumulate knowledge and wealth over millennia. Egypt proved resilient during the Covid-19 pandemic: it was the only country in the MENA region to record positive GDP growth in 2020. Its economy has been widely driven by the execution of Egypt Vision 2030. This plan notably aims to increase annual GDP to 12% in 2030.
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Articles & Analysis | Tips and information for travellers to Egypt from The Report: Egypt 2022
Etiquette
It is integral to Egyptian culture to be courteous to foreigners. A conversation, whether business-related or not, is usually accompanied by coffee, tea or juice. Social rules dictate the appropriate way to greet people in business meetings. Close friends of the same sex will sometimes greet with a kiss on each cheek, although a handshake...
Articles & Analysis | Hotel options in the Greater Cairo area from The Report: Egypt 2022
SEMIRAMIS INTERCONTINENTAL CAIRO
Corniche El Nil, Garden City, Cairo
T: +20 (2) 2798 8000
www.intercontinental.com
info.semiramisic@ihg.com
Rooms: 721 rooms, including 68 business, junior, executive, Nile and presidential suites with Nile view.
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Articles & Analysis | Will regulatory changes in Egypt attract more foreign direct investment? from The Report: Egypt 2022
Egypt’s legal framework outlines restrictions on foreign investment only in specific sectors. These include commercial agencies (which require 100% local ownership), import firms (51% local ownership) and certain activities that require regulatory approvals – irrespective of the nationality of the investor – such as banking and insurance. Companies operating in the Sinai...
Interviews & Viewpoints | Girgis Abd El Shahid, Managing Partner, Shahid Law Firm: Viewpoint from The Report: Egypt 2022
Given the recent adverse global developments – and as a continuation of the national structural reform programme first initiated in 2016 – the government of Egypt has undertaken several key reforms aimed at alleviating the impact of inflation while ensuring the economy remains stable.
Interviews & Viewpoints | Mohamed Maait, Minister of Finance: Viewpoint from The Report: Egypt 2022
In an implementation of presidential directives, the support and social protection allocations have been increased to LE356bn ($22.6bn) in the new draft general budget. The Covid-19 pandemic and the challenges brought about by the war in Ukraine have created an unprecedented inflationary wave. This initiative will support the sectors and groups most affected by the current...
Articles & Analysis | Will increased middle class spending fuel the Egyptian economy? from The Report: Egypt 2022
Egypt was one of the few economies to witness positive GDP growth in the first two years of the Covid-19 pandemic, fuelled in part by strong consumer spending. According to a November 2021 report from Fitch Solutions, real household spending expanded by around 7% in both 2020 and 2021 – despite the widespread impact of the pandemic, which hit key sectors such as tourism...