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Muslims Countries - Egypt
Egypt stands at an enviable strategic location bridging the three continents
of Asia, Africa and Europe – the gateway to some of the world’s largest
markets by way of preferential and regional trade agreements. Egypt is the
centre of a region of 800 million people and a hub for the world’s maritime
traffic with commercial ports on the Mediterranean and Red Seas. Egypt’s
airports are being upgraded to meet the increasing flow of passengers and
cargoes and a modern road network criss-crosses Egypt linking the Middle East,
Africa and, through neighbouring countries, to Europe.
The reduction of customs duties has opened Egypt’s markets to more
foreign trade and stimulated domestic producers. Business procedures have been
streamlined. Corporate and personal taxes have been cut dramatically and now are
lower than in most countries. State assets in all sectors of business are being
transferred into the private sector. Companies are being restructured.
The cost of doing business in Egypt is extremely favourable,
particularly labour and land costs. Electricity and gas are priced extremely
competitively. The movement of goods is being speeded up with an improved
transport system. The ports are being modernized.
Investment Environment in Egypt
The Ministry of Investment was created in 2004 by Presidential Decree
No. 231 as the primary government body that provides an environment that is
conducive to investment in Egypt, enhancing the competitiveness of economic
activities, encouraging and increasing the opportunities for local and foreign
investment.
The Ministry of Investment is assisted directly and indirectly through
affiliated organizations and in cooperation with other ministries and
organizations. The Ministry of Investment oversees the General Authority for
Free Zones and Investment (GAFI), the General Authority for Economic Zone North
West Gulf of Suez (SEZONE), the Capital Market Authority (CMA), the Egyptian
Insurance Supervisory Authority (EISA), the Mortgage Finance Authority (MFA) as
well as the holding companies and affiliated companies in public business
sector.
The Ministry of Investment implements definitive policies to promote and develop
investment by:
1. Creating the suitable organizational and legislative environment for
investment
2. Promotion
3. Performance progress measurement
Doing Business in Egypt
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