Egypt BUSINESS

           

  

 

 

           

 

 

Egypt Business

 

Egypt Business

 

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.

 

 

 

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.

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.

Egypt Business
 

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.

 

Business in Egypt

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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