Egypt

Doing Business in Egypt

Officially the Arab Republic of Egypt, with a population exceeding 90 million, Egypt is the most populous country in the Middle East. With a strategic geographic location and proximity to Asia, Africa and Europe, the prospect of doing business in Egypt is potentially rewarding.

Having gone through a period of political instability, the popular uprisings that toppled Hosni Mubarak seemed to promise a peaceful transformation of government. 2015, in particular, was characterised by a degree of political stability and economic growth. However, a largely authoritarian government remains, and the political outlook is at present uncertain. Nonetheless, the Egyptian government’s policies now focus on economic recovery and growth through the following five channels: mega infrastructure projects, tourism, improvements to economic policy, increasing private sector investments, and attracting global investors.

Though Egypt consistently fails to fare well in the Ease of Doing Business index, the strengths of the Egyptian market include a young workforce, a number of free trade agreements and arrangements, and reduced sales taxes and customs duties. Though Egypt remains highly import-dependant, the future will see investments in ports, airports, highways and railways – hopefully leading to more efficient movement of goods.

Some of the risks of doing business in Egypt include a crippling fiscal deficit, restrictions on foreign property ownership, lack of legal and contractual certainty, and incompetent customs procedures. Those unfamiliar with the cultural landscape should also be aware of the quirks in local business etiquette, as developing personal relationships is key between associates, with many preferring to do business with those they already know.

In the face of these many challenges, the World Business Culture website is here to help. For those seeking successful business in Egypt, World Business Culture is an invaluable aid.

 

Author

This country-specific business culture profile was written by Keith Warburton who is the founder of the cultural awareness training consultancy Global Business Culture.  Global Business culture is a leading training provider in the fields of cross-cultural communication and global virtual team working.  We provide training to global corporations in live classroom-based formats, through webinars and also through our cultural awareness digital learning hub, Global Business Compass.

This World Business Culture profile is designed as an introduction to business culture in Australia only and a more detailed understanding needs a more in-depth exploration which we can provide through our training and consultancy services.


Author

This country-specific business culture profile was written by Keith Warburton who is the founder of the cultural awareness training consultancy Global Business Culture

Global Business culture is a leading training provider in the fields of cross-cultural communication and global virtual team working.  We provide training to global corporations in live classroom-based formats, through webinars and also through our cultural awareness digital learning hub, Global Business Compass.

This World Business Culture profile is designed as an introduction to business culture in Egypt only and a more detailed understanding needs a more in-depth exploration which we can provide through our training and consultancy services.

Country Breakdown

96

Million

Population

Egyptian Pound

Currency

$ 334.3

Billion

GDP

1.01

Million

km2

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