Doing Business in Egypt

The Arab Republic of Egypt is located in Northern Africa, bordering Israel, Sudan, Libya, and the Mediterranean Sea. Egypt is in a strategic location controlling the Sinai Peninsula, the bridge connecting Africa and the Middle East, and the Suez Canal, connecting the Indian Ocean and the Mediterranean Sea.  Egypt is about three times the size of New Mexico and covers an area of 1,001,450 sq. kilometers.  The total population is 83.08 million and is growing at a rate of 1.642% with 43% living in urban areas.  The capital of Cairo has a population of 16 million with the other main city being Alexandria (6 million). The people are governed by a republic and are predominately Muslim. The primary language spoken is Arabic, with English and French also being spoken by educated classes. The local currency used is the Egyptian Pound.

Egypt’s economy has undergone many reforms in the past few years, such as lowering of taxes and privatizing industries, which have led to increased foreign investment, however the living conditions are still relatively poor. Egypt’s main trade partners are the US, Italy, China, Spain, Germany, Syria, Saudi Arabia, the UK, and Russia. Its primary imports are machinery and equipment, foodstuffs, chemicals, wood products, and fuels. Exports include crude oil and petroleum products, cotton, textiles, metal products, and chemicals.  Egypt’s GDP (Purchasing Power Parity) is $442.6 billion and is growing at a real rate of 6.9% with an inflation rate of 18%. Egypt ranked 114th out of 181 countries in the World Bank Group’s Ease of Doing

 Demographic Data 
Area (sq. km.) 1,001,450
Population (million) 83.08
Population Growth % 1.642
% Population Under 15yrs 31.4
Population below poverty line (%) 20
Agricultural Workers (% of population) 32
Industrial Workers (% of population) 17
Service Workers (% of population) 51
Labor Force (mil) 24.72
 Cultural & Other Data 
Capital Cairo
Other Large Cities Alexandria
Primary Language Arabic
Urban Population % 43
Urban Growth % 1.8
Literacy (% of population) 71.4
Education spending as % of GDP 4.2
CPI Score (1-10)* 2.8
Corporate Income Tax % 20
Ease of Doing Business Ranking ** 114
Economic Data 
GDP (PPP, $bn) 442.6
GDP Real Growth (%) 6.9
Per Capital GDP ($) 5,400
Prime Lending Rate (%) 12.51
Inflation Rate% 18
Unemployment% 8.7
Foreign Direct Investment($bn) 59.03
Debt-External ($bn) 28.84
Exports ($bn) 33.36
Imports ($bn) 56.43
     
 
             Conference Organizers and Sponsors  
Marfin Laiki Bank (Cyprus) PricewaterhouseCoopers (PWC Cyprus) Cyprus Chamber of Commerce and Industry U.S. Embassy, Cyprus Franchise Deal Magazine Greece Cyprus Investment Promotion Agency the Cyprus Tourism Organization The Cyprus Telecommunications Authority (CyTA) Cyprus-American Business Association
 
Marfin Laiki Bank (Cyprus) PricewaterhouseCoopers (PWC Cyprus) U.S. Embassy, Cyprus Franchise Deal Magazine Greece Cyprus Investment Promotion Agency Cyprus-American Business Association