Egypt’s Improved Reforms and Policies Serve as Key Factors to Attract FdisSource: www.export-egypt.com 3/16/2017, Location: Africa |
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According to a statement by the UAE Ministry of Economy's Annual Investment Meeting, AIM, Egypt’s economy, industry and start-ups are currently experiencing impressive growth, where the country has become a world leader in innovation attracting international business to the country.
Egypt will participate at AIM 2017, which is set to be held in Dubai from 2nd to 4th April at the Dubai World Trade Centre. "We are very pleased to have Egypt participate with us at the Annual Investment Meeting. Egypt’s revived economic policies and the on-going liberalisations are the keys factors that strengthen our confidence in the country’s growing economy. In addition, positive influences on foreign and local investments coupled with increased global competitiveness are among the key long-term effects that are likely to attract international investments in the country," said Dawood Al Shezawi, CEO of AIM’s Organising Committee. Egypt is best known for its impressive pyramids and colourful history, but the heavily populated Middle Eastern country is also popular among investors. The current economic reforms in Egypt, in particular the draft investment law and the floatation of the Pound, herald a new era for the country and present the time for business expansion and foreign investment. The economic activity for Egypt’s non-oil private sector accelerated the most since 2014, a sign that growth may be recovering after authorities abandoned currency controls and secured a US$12 billion International Monetary Fund, IMF, loan deal. In November 2016, the IMF approved a US$12 billion loan for Egypt after the government committed to reforms including floating the Egyptian Pound. "Egypt is a promising and attractive market for foreign direct investments, including modern and business-friendly environments, skilled and productive workforce, attractive real estate investments and enticing tourism. As one of the largest countries in the region, Egypt is taking the necessary steps to improve its economy, and slowly signs are emerging that this effort is paying off. Internationally, Egypt boasts leading industrial sectors such as clean-tech, life sciences and ICT, and is repeatedly ranked among the most innovative countries globally. As such, Egypt is widely considered to be a major emerging market economy offering diversification for foreign direct investments," Al Shezawi concluded. |
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