Egypt, situated in a strategic location gives an ideal advantage of access to markets with various trade agreements incentives that operating in Egypt benefits from.
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A Strong Economy and an Environment Suitable for Investment
Since 2016, the Egyptian government has implemented an ambitious economic reform program that included financial and monetary reforms aiming to achieve rapid and sustainable growth rates, and an inclusive development for Egypt. This program has provided radical solutions to structural economic problems that the Egyptian economy has been suffering from for many years. The implementation of the axes of this program comes within the framework of Egypt Vision 2030, which reflects the State's long-term strategic plan to achieve the principles and goals of the sustainable development in all fields, and to settle them in the various Egyptian State bodies.
Economic Reform Program
The Egyptian government seeks to enhance the flexibility and diversification of the Egyptian economy, increase its productivity, and achieve comprehensive and sustainable growth. In this context, Egypt began in November 2016 to implement a comprehensive national program for economic and social reform, the first stage aimed at achieving the economic reform, followed by a program of structural reforms as a second stage to ensure activating and sustaining the gains of the first phase of the Program.
Goals of The Economic
implemented the first phase of the Economic Reform Program from 2016 to April
2021. This phase included conducting financial and monetary reforms aimed at
achieving rapid and sustainable growth rates, and achieving comprehensive
development for Egypt.
In April 2021, Egypt has launched the second
phase of the Economic Reform Program, which is concerned with structural
reforms. Such phase will extend over a period of three years after completing
the first phase, which aimed to address the imbalances of monetary and fiscal
policies. The Program targets the real sector for the first time with radical
and targeted structural reforms. These reforms will contribute to increasing
the resilience of the Egyptian economy, raising its ability to absorb external
and internal shocks, and transforming the course of the Egyptian economy into a
productive economy with competitive advantages, which supports its ability to
achieve balanced and sustainable growth.
The Positive Results of the Economic Reform Program:
The economic reform program implemented by the Egyptian government contributed to achieving positive results represented in increasing economic growth rates, increasing the local and foreign investments, increasing employment rates, and declining unemployment and inflation rates. Moreover, the implementation of this program's axes contributed to strengthening the ability of the Egyptian economy to face the negative repercussions of the crisis of the spread of Corona virus. The most significant positive results of the program were the following:
Investment Climate in Egypt:
The investment climate in Egypt, specially in the past few years, witnessed many legislative and institutional reforms for the purpose of facilitating and simplifying procedures for investors, contributing to achieving positive results in the field of companies incorporation in terms of time, cost and number of procedures needed to carry on the activity. As a result of these reforms, Egypt succeeded in achieving a qualitative leap in the indicator of Starting a Business in the Doing Business Report 2020 to occupy the 90th rank instead of the 109th rank in the Report of 2019.