imported 2024-03-17 17:43:06
“The destination Egypt is very beautiful. We have it all. We have sun, sea, desert, nightlife – we have everything. I believe that this kind of diversity is what makes our tourism sector very resilient. I also believe that now we are on the right path politically; we have stability. “
Egyptian Drilling Company is a joint stock company formed in 1976 as a corporation between the Egyptian General Petroleum Corporation and the A.P.Moller Maersk with a 50-50 partnership. We started operations with one onshore drilling rig and we have expanded since then and today, we have 70 rigs.
“In terms of industry, Egypt is the third largest market in Africa, the second is Algeria and the first market is South Africa. Moreover, with a population of 90 million, a quarter million vehicles is a very low volume. Therefore, we see a great potential for growth in Egypt,” comments Tarek Atta, Managing Director of GM Egypt & North Africa.
The real estate market in Saudi Arabia as grown more than 10% in the past five years, and shows no evidence of slowly down. According to Dr. Bader Ibrahim Ibn Saedan, General Manager of Al Saedan Real Estate, most of this growth comes from the Mecca and Medina region, and partly from Riyadh.
Al Saedan Real Estate Company began its work before the unification of Saudi Arabia. “The most important thing was security at the time. There were gated cities. Small cities. Nobody built outside the boundary of the city,” says Dr. Bader Ibrahim Ibn Saedan, General Manager of Al Saedan Real Estate.
The real estate cycle lasts about 7-10 years. Dr. Bader Ibrahim Ibn Saedan, General Manager of Al Saedan Real Estate, discusses how they deal with the crises that occur in the real estate market. The family has been in the business for three generations. Al Saedan has survived a complete cycle and they know what to do to prepare for the crisis. More importantly, they have transferred that experience for the generations after to ensure continued success.
AlexBank is the only private bank with a presence in every governorate of Egypt. “We are working to improve the SME business by offering new products and using the experience we have gained in Italy where the pillar of the business sector is SMEs. The Egyptian government and the business sector are all saying that the future of the country will be SMEs,” says Roberto Vercelli, MD & CEO of AlexBank.
“e-payment currently has enormous potential and it is expanding. When we started in 2005, e-payment did not even exist and now it is part of the country’s future strategy, which was announced by the Minister of Telecommunication few months ago,” explains Haithem Trabeek, Strategy & Business Planning Director of e-finance.
“We work on promoting trade and investment between Egypt and the United States through serving our members and the entire business community and advocating on their behalf for a favourable business environment and fostering a socially responsible business environment.”
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.
