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Investment in Egypt

According to official Egyptian statistics, the United States tops the list of investing countries in Egypt. It allocates Egypt 14.7% of its total foreign direct investment (FDI) in the MENA region and is the largest petroleum and second largest non-petroleum, non-Arab, foreign direst investor in Egypt.

Egypt provides many important advantages to all private investment projects, domestic and foreign, in all activities:

Well-established and accessible ports on both Mediterranean and Red Sea, in addition to the Suez Canal and airports make Egypt fully integrated with the rest of the world.

Highly recognized and acknowledged economic performance by international organizations and community has made Egypt one of the most favorable locations for long-term investment.

Availability of highly trained and skilled labor at competitive wage rates.
An efficient banking system and a dynamic and growing stock market.
Political and social stability, favorable business environment and strong support by the government to private sector initiatives.
Developed infrastructure and utilities, comprehensive and integrated transportation and communication networks.

Exports Promotion Strategy:

Egypt has an anticipated growing export potential in a large number of sectors due to the competitive advantage in many manufacturing industries and it's lucrative geographical location. The export potential is as well vivid in numerous service sectors including commercial services, especially tourism, transportation, business services and professional services.

It is of paramount importance to pinpoint that the Egyptian trade partners are equally highly diversified. The major trade partners include the EU and the USA with shares exceeding 30% and 10% respectively of total Egyptian exports. Other trade partners include South East Asia and Arab Countries. Trade with other developing countries such as those belonging to the African continent has vastly increased during the last period.

The Egyptian government’s clear vision is focused on the future of its exports and is on its comparative and competitive advantages. The “Egyptian Exports Development Strategy” documents the government’s identified plan to achieve its goal of enhancing and promoting the Egyptian exports during the coming decade. Impediments preventing exports from flourishing were transparently and objectively addressed and, constructive systems to mitigate such impediments have been initiated.

Ministry of Foreign Trade issued a new law no.55 for the year 2002. This law stimulates the competition of the Egyptian products by resolving the impediments facing the Egyptian Exports. It focused on financing the research, marketing and training centers and facilitating the communication between the Egyptian exporters and their counterparts in foreign markets. The new law supports cost efficiency for exporting to ensure fair competitiveness for the Egyptian Exports in global markets.

Additionally, law no. 1283 for the year 2002 issued by the Prime Minister concerning approved the establishment of Ministerial Committee to enhance the competitive ability of the Egyptian Exports. This committee includes Minister of the Agriculture, Minister of Foreign Trade, Minister of Industries and Promoting Technologies, Minister of Finance, Minister of Transportation and Minister of Civil Aviation. This law entails resolving all export impediments through concerned members of committee.

Moreover, a new law is being drafted to unify different customs system like Tax Rebate, Temporary Release and Drawback System in one system to facilitate for exporters their reclamation of previously paid customs on raw materials used in manufacturing products for Exports.