List of all articles filed under “egypt-sectors” category.
The Egyptian Credit Bureau – or iScore – was founded in 2005 by a consortium of 26 banks. “We are here to help the customers rationalise their credit and help the banks evaluate and make rational credit decisions when granting a loan to a customer,” explains Mohamed Kafafi, Chairman and CEO of the institution.
“I think that mid-income and low-income housing is probably the safest bet right now; luxury homes have been in limbo over the past few years,” reveals Khaled Nasser, Regional Director of RE/MAX Egypt – the leading real estate agency in Egypt.
The Egyptian banking sector ticked off marked growth over in the last year, with aggregated assets rising by nearly 17 percent in local currency terms during 2013, according to the country’s Central Bank.
“Unfortunately, the perception of the revolution and of Egypt in the west does not reflect what we see on the ground. It is very important that companies and international investors come to Egypt and investigate for themselves,” noted Mostafa Al Hassan, chairman of a private security company (Global Consolidated Contractors).
“Egypt’s trade agreements with the Arab World, Europe and Asian Pacific are a tool yet to be optimized by foreign investors whom will tap into the potential and wealth that this nation encompasses,” noted Hisham Fahmy, Executive Director of American Chamber of Commerce in Egypt.
Though coming out of a challenging period Egyptian industry is showing marked signs of a steady recovery. Industry is the second largest sector in the Egyptian economy and accounts for nearly 40 percent of GDP.
Foreign direct investment in Egypt averaged $2,234.19 million from 2002 until 2014, reaching an all-time high of $5,572.50 million in the fourth quarter of 2007 and a record low of $40.70 million in the second quarter of 2002.
“Tourism is one of the major sources of income for our country and it has been deeply affected since 2011. In 2014, slowly but surely we are going to start to see more positive results,” reveals Mahmoud ElKeiy, General Manager of Four Seasons Hotel Cairo at The First Residence.
