Why is Egypt an Attractive Country for Investors?
Updated on Thursday 11th January 2018
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Egypt was ranked as the third most favorable investment center in Africa by the Quantum Global, an investment management firm based in Africa. In this article, our company formation consultants in Egypt explain why Egypt is an attractive country for investors.
Egypt has a developed economy
It has been noticed that, in the last years, the corporate governance penetrated the business life in Egypt and it has grown into playing an important role in the foreign and domestic investments of the country. Egypt has a developed energy and mining industry, with the petroleum sector being one of the most important in the country. Hydrocarbon production is definitely the largest single industrial occupation. Egypt is also a net importer of oil, gas and refined petroleum goods.
The local government encourages the investments made by international oil and gas corporations, with dozens of such businesses operating in Egypt. Our Egypt company formation advisors can assist you to open such a company here.
Starting with 2015, according to the Ministry of Tourism, visitors in Egypt increased their numbers. The year-end tourism proceeds attained USD 2 billion, with tourism being the sixth source of foreign currency in the country.
Legislation related to foreign investments in Egypt
Egypt is an attractive country for foreign investors because it has certain huge privileges and potential which are enhanced by a favorable geographic location, an extremely available workforce, quite inexpensive labor costs compared to other states, an integrated infrastructure, a solid telecommunication industry, a developed electricity network, as well as a diverse industrial base.
The foreign investments in the country are supported by a set of laws, in addition to the investment law which regulates the companies’ e-registration, generates an investor service center which acts as a one-stop shop for obtaining licenses. Our company registration agents in Egypt can offer further information on these laws. We also provide help in setting up a company in Egypt.
Moreover, the investment law confers a wide range of incentives, especially tax cuts and allocation of land free of charge.
In case you would like to know more about how attractive Egypt is to investors, or for assistance to open a company in Egypt, please speak to our representatives.