Egypt

AHS, Ahmed Hassan El-Sayed, Egypt – Global Accounting Alliance Member

Economic Overview & Business Opportunities

Officially known as the Arab Republic of Egypt, Egypt is a country located in North Africa and Southwest Asia. Bordering the Gaza Strip, Israel, Sudan, and Libya, Egypt is the 15^th most populous nation in the world with the population of over 92 million people.

As it is strategically located at the edges of Africa, Europe, and Asia, Egypt was the hotbed of civilisation in ancient times and now is the middle power with a significant cultural and military influence in the regions of the Middle East and North Africa. As of now, the Egyptian economy has been surging rapidly and it has become one of the largest in the Middle East. On top of that, its active participation in reputed world organisations like the United Nations, Organization of Islamic Cooperation, Arab League, Non-Aligned Movement, and the African Union has further cemented its position as one of the economic leaders in the region.

The large population size of Egypt has promised a huge consumer market that attracts many foreign investors. Furthermore, the strategic location of Egypt has made an easy-access to large key markets, which boosts a multiplicity of advantages investing in Egypt. Another reason that draws the attention of foreign investors is the attractive tax rate in the country. The Egyptian corporate taxes top out at only 25%.​ In addition, Egyptian government offers less property tax than paid in other jurisdiction and there is no capital gains tax in the nation. The Egyptian government welcomes all foreign investment to the country. A series of pro-business reform in the country has given Egypt the right momentum to rise as the economic leader in the region.

As the third largest economy in Africa, the Egyptian economy has its strengths that catalyse the fast-growing economy. Here are the quick facts about Egyptian economy.

• Strong economic growth
• World-class infrastructure
• Political stability
• Easy air access from many European destinations
• Low cost of living
• Large pool of young talents
• The Suez Canal that acts as the hub for world maritime traffic

On a final note, Egypt’s location, tradition in trade, primary industry, and manufacturing spells the potential of this country as it has one of the broadest economies in the region. This broad base with a large population has positioned Egypt as one of the hotbeds for foreign investment in the region. If you are planning to traipse into the African markets or the huge European markets, Egypt has a lot to offer.

Ahmed Hassan
General Manager