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With national treasures like the
pyramids, coral reefs, ancient monuments, with an
agriculture based on cotton, with an increasing productivity
of gas and oil, with a textile and clothes industry, as well
as an industry of chemicals, cement, steel, pharmaceutical
and goods there is no wonder that Egypt is a country with a
very strong and secure business market.
Egypt business today's major trading partner and the second
biggest investor is the United States of America.
Egypt
imports agricultural equipments, machineries and commodities
from the USA and the USA invests in the Egyptian sector of
gas and oil, as well as in the automobiles industry, in the
financial sector and in the pharmaceutical industry.
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The Egyptian program of
economy's reform was made in cooperation with the government
of the US. Also, Egypt received a more than 490 million $
non-military assistance, in 2006.
An important improvement of the Egyptian economy which
includes a safer business market begun in 2005, with the
economic reforms that regarded the elimination of the black
market and of the shortages of foreign exchanges, the
reducing of the tariffs and the simplification of the
tariff structure. |
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These things were possible as a result
of reducing the red tape amount used in the business
conducting, a result of the number of categories and rates`
cutting, of the moving of the financial sector to reform.
Another move was to introduce in the Egypt's parliament of
measures that regard the simplifying of the tax structure.
The result of these actions is a growing economy at a rate
of 6% and a very enthusiastic community of those who are
involved in the business in Egypt.
There one small problem on which Egypt still works: the red
tapes. The impediments for the business makers consist in
the high costs of the market entry, the numerous agencies of
regulations, some decisions that are made in an arbitrary
way and a system of the commercial court that is not very
responsive.
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Egypt's economy has some very promising sectors such as:
tourisms, with the thousands of visitors every year and with
10% from the Egypt workers, the industry of information
and telecommunications and the industry of petroleum.
The US investments will go in projects that regard the port,
the telecommunications, the airports and the TV
broadcasting.
The opportunities for the exporters of services related with
the management of the environment and the opportunities for
the companies that export equipments for hotels will
seriously increase as a result of the expansions in the
resorts of the Red Sea. |
Other opportunities for business are created by some
infrastructures such as the airports built to help the new
resorts. An important business market is created by the
tourism on the Red Sea's coast.
A good thing for the foreign business persons who want to
start business in Egypt is to have a local partner in Egypt;
this partner will resolve the problems related to the local
bureaucracy, will facilitate the bid with the government
tenders.
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