List of all articles filed under “doing-business-in-egypt” category.
“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.
Subsidy cuts, new taxes and “bitter pills” were introduced to enable a smoother recovery of Egypt’s economy.
