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.
While Egypt’s agriculture sector is well established, the country continues to face challenges related to climate change, urbanisation, a rapidly expanding population, and food and water insecurity. For instance, some related industries were notably affected by Covid-19 pandemic restrictions and disruptions to the global supply chain. Egypt was among the most affected by the February 2022...
While the 2020-22 period saw supply-chain disruptions, the high number of transport projects under development has helped to bolster Egypt’s transport and logistics prospects. Indeed, 30,000 km of new roads are set to be completed by the end of 2024, and in May 2021 the government signed a memorandum of understanding to begin the development of the Bus Rapid Transit project on the Cairo Ring...
The government of Egypt has placed a strong emphasis on construction as a key engine of urban growth since the ambitious IMF-backed economic reform programme in 2016. Much of the sector’s underlying demand is a result of the growing population which, in turn, has created a need to develop new cities such as the New Administrative Capital. Overall, such mega-projects look set to drive...
The development of Egypt’s ICT sector is supported by concerted efforts to diversify and develop a knowledge-based economy. Indeed, ICT’s contribution to GDP steadily rose from $5.1bn in FY 2017/18 to $8bn in FY 2020/21. Moreover, the pandemic saw a swift increase in demand for telecom services. In September 2021 the authorities announced a $360m plan to provide more than 60m people in 4500...
Egypt has turned its oil and gas industry around in the years since 2015: heavy investment in this industry now places Egypt in an advantageous position to capitalise on the resurgence of global travel and economic activity. The opening of new transport routes for hydrocarbons will help the country become a global energy centre connecting Europe, MENA and Asia. In addition to redeveloping its...
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