Egypt is the top economy that contributed to the overall growth of the North African region for the last two years. Its growth is built on extensive national growth programs, several large investment projects and support to the development of the private sector. Egypt’s objectives are to diversify and modernize its economy, improve its services, enhance health care and education systems, and develop renewable energy production.

The Egyptian government started to take serious steps to achieve these objectives and enhance Egypt’s overall economic status, especially in the aftermath of the January 2011 Revolution. The government developed “Egypt’s Sustainable Development Strategy: Vision 2030” to guide these steps, in addition to other strategies to develop specific sectors. Furthermore, extensive reforms to ensure economic sustainability have been undertaken to encourage investment and facilitate doing business in Egypt. International financiers, mainly the World Bank and the International Monetary Fund, and European Union institutions have launched large funding programs in the country to support its development plans. These changes and big reforms in a country with more than 95 million inhabitants offer various business opportunities to international companies.

In 2015, the New Suez Canal was inaugurated and its special economic zone is expected to give a boost to the economy in future years. Additionally, the Egyptian government is building a new administrative capital and is investing in a new countryside project, including land reclamation in the desert. Egypt’s new capital is a large-scale project located about 46 kilometres from Cairo on the way to the port City of Suez, covering an area of 700 square kilometres. It aims to reduce Cairo’s chronic congestion, accommodate a population of 5 million and be the financial as well as administrative capital of the country. The project is intended to offer thousands of jobs and stimulate the economy in terms of opening new investment opportunities.

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