Egypt looks good for future opportunities
By GP • Mar 2nd, 2009 • Category: Analysis, Garry Pierrepont, Overseas PropertyThe land of rich cultural past could become the land of rich future opportunity. In Egypt economic and social reforms have helped the economic climate, and these have been followed by private enterprise and investment, including foreign investment. The country’s business are rising to the challenge, and are jostling to compete for domestic market share and broader expansion into global markets.
Open trade and international standards have helped to increase competitiveness, with international trade barriers eased by new laws and regulations. Inward foreign investment has been encouraged.
Cairo, the capital, the Arab World’s largest and Africa’s most populous city could reap the benefits.
With its mix of historical and modern cultural sights, including the Pyramids, the Sphinx, Saladin’s Citadel and the Old City, Cairo is nicknamed “The City of A Thousand Minarets”. Located on the banks and islands of the River Nile in the north of Egypt, the oldest part of the city is east of the river, and the city gradually spreads west, taking in agricultural lands next to the Nile.
While eastern Cairo is filled with hundreds of ancient mosques, the western part is dominated by government buildings and modern architecture.
Egypt has some compelling economic factors:
- Free EU trade agreement signed and in place
- Increasing real GPD growth 7.2% pa in 2007
- GDP forecast at 7.5% in 2008
- Inflation dropped from 18.1% in 2004 to 3.1% in 2006
- Steady annual growth in tourism: a growing market for investment
With an excellent climate to boot, look out for more developments coming soon in Egypt.
GP is Garry Pierrepont .....
Email this author | All posts by GP
