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Investment in Egypt ? |
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Egypt is renowned for its cultural depth and tolerance, its intellectual
capital and its stable economic and political institutions, ensuring an
environment that is conducive to long term business investment. |
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| Economy |
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Egypt has a diverse economy and is the largest domestic market
and the largest pool of local talent in the region.
Its diversified market includes several sectors; services, industry,
agriculture, construction and real estate, financial services, tourism,
communication & information technology and logistics & infrastructure.
Egypt' s economy is picking up development at increasing rates, based on a
climate luring investments represented in proper legislation, convenient
policy, internal stability, trade and market liberalization.
Egypt possesses solid infrastructure of transportation, communication, energy
sources, skillful manpower, modern industrial communities, banking system and
stock market.
Egypt enjoys preferential access to global markets through:
- Direct connection through the Suez Canal (from the India Ocean to the
Mediterranean Sea).
- EU through the EUTA
- US through the QIZ
- Middle East through GAFTA
- Africa through COMESA
- Egypt-Turkey Agreement (FTA)
- Egypt-Switzerland EFTA Countries Agreement
Egypt is a major trade and crossroad destination between Europe, Middle East,
Africa & West / South Asia.
Egypt's main trade partners are the US, UK, Italy, France and Germany, which
together account for half of all its trade (49% in 05/06).
The EU is Egypt's biggest trading partner accounting for 42% of Egyptian
exports. The trade between the EU & Egypt has risen by 5%.
The US is Egypt's 2nd largest trading partner accounting for 22% of Egyptian
exports.
Over the past 2 years, Egypt sustained strong economic performance driven by
strong external sector and broad range of economic reforms.
Overall growth of the economy is 7.1% with total foreign investment of 11
billion USD$.
Sector Contribution to GDP:
- Industry & Mining 18%
- Agriculture 15%
- Petroleum products 12%
- Transportation 10%
- Housing & Real Estate 4%
- Hotels & Restaurants 3%
- Trade, Finance & Insurance 19%
- Government Services & Utilities 15%
- Construction & Building 4%
The Suez Canal, which links the Red Sea to the Mediterranean, is an important
passage to Egypt and the World. It counts for 4% of the contribution of the
transportation sector to the GDP.
Natural Resources:
- Minerals: iron core, phosphates, manganese, limestone, lead, gypsum, talc,
asbestos, zinc.
- Oil Reserves: 3600 million barrels.
- Natural Gas: 66 trillion f3
Egypt's Trade with China:
Trade turn over between Egypt and China during the period Jan-Oct. 2007
amounted about 3.7 billion USD $ compared to about 2.5 billion USD $ during the
same period in 2006 representing an increase of about 44.5%.
Egyptian exports to china during Jan-Oct. 2007 reached to 206.9 USD$, while
Chinese exports to Egypt in the same period were about 3.5 billion USD $.
China exports to Egypt a range of products including: AC generators, decoders
and radio transmission equipment, data processing equipment, garments, textiles
& flax, trucks tires and tobacco.
On the other hand, Egypt's exports to China include: cotton, marble, plastics,
petroleum products, linen, glass and cow hides, carpets, citrus and
pharmaceuticals.
Meanwhile, Egyptian investments in China are concentrated in 43 projects
(according to the Chinese Ministry of Trade), with a contractual value of $50
million out of which only $12 million have been implemented so far in the
fields of ready-made clothes, textiles, leather and plastic products, and
carpets.
Chinese investments in Egypt are concentrated in 35 projects most of them in
the fields of: textiles, chemicals, engineering, foodstuff and leather products
in addition to investing in such sectors as those of building materials,
petroleum, maritime transport, metallurgy and IT. |
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