Country Guides
Egypt
Business
Business
Egypt
• GDP: US$85.4 billion (2006).
• Main imports: Machinery and equipment, food, chemicals, wood products and fuels.
• Main exports: Crude oil, petroleum products, cotton, textiles and metal products.
• Main trade partners: USA, Italy, China, Spain and Germany.
Economy
On taking power in 1952, President Nasser quickly instituted a Soviet-style command economy that was closed to Western investment. After Nasser's death, his successor, Anwar Sadat, gradually dismantled the existing system in favour of a policy of infitah (openness) towards investment. Egypt's economy underwent rapid growth during the 1970s with the swift expansion of the oil industry, tourism and the Suez Canal.
During the 1990s, stern fiscal policies, agreed with the IMF and World Bank, and further market-oriented measures slowed the Egyptian economy but in recent years it has picked up again. By 2007, annual growth had reached 7% although inflation had crept back up to 9% - double that of 2003. According to the 2006 census, unemployment stood at 9.3% (although there is considerable under-employment). Egypt's major industries are textiles, fertilisers, rubber products and cement. There are also steel production works and several vehicle assembly plants. The main crops are cotton, rice, wheat, sugar, maize and a range of fruit and vegetables.
The tourist sector is expanding rapidly, particularly along the Red Sea and Mediterranean coasts, despite sporadic terrorist activities of Islamic fundamentalists. Agriculture, which relies on irrigation from the Nile, employs one-third of the working population. Foreign aid, especially from the USA, is an important source of government funds.
Conferences & Conventions
Cairo has many hotels and three large meeting halls (seating up to 2,000 people), which are equipped for use as conference centres. The Cairo International Conference Centre, 12km (7 miles) east of Cairo International Airport, has seating for 2,500 people, with an exhibition hall, banquet hall and comprehensive facilities. There is also a convention centre at Alexandria University, which has a main hall with seating for 2,400.
Business Contacts
Egyptian-British Chamber of Commerce in the UK
PO Box 4EG, 299 Oxford Street, London W1A 4EG, UK
Tel: (020) 7499 3100.
Website: www.theebcc.com
Federation of Egyptian Chambers of Commerce
4 El-Falaky Square, Cairo, Egypt
Tel: (2) 355 1813 or 355 1136.
Cairo Chamber of Commerce
Address as for the Federation.
Tel: (2) 355 8261.
Cairo International Conference and Exhibition Centre
Nasr Road, Nasr City, Cairo, Egypt
Tel: (2) 2263 3222.
Website: www.cicc.egnet.net
Egyptian General Company for Tourism and Hotels (Information on Conferences/Conventions)
6th floor, 4 Latin America Street, Garden City, Cairo, Egypt
Tel: (2) 2792 55529 or 2795 7355.
Travel Essentials
• GDP: US$85.4 billion (2006).
• Main imports: Machinery and equipment, food, chemicals, wood products and fuels.
• Main exports: Crude oil, petroleum products, cotton, textiles and metal products.
• Main trade partners: USA, Italy, China, Spain and Germany.
• Main imports: Machinery and equipment, food, chemicals, wood products and fuels.
• Main exports: Crude oil, petroleum products, cotton, textiles and metal products.
• Main trade partners: USA, Italy, China, Spain and Germany.
Economy
On taking power in 1952, President Nasser quickly instituted a Soviet-style command economy that was closed to Western investment. After Nasser's death, his successor, Anwar Sadat, gradually dismantled the existing system in favour of a policy of infitah (openness) towards investment. Egypt's economy underwent rapid growth during the 1970s with the swift expansion of the oil industry, tourism and the Suez Canal.
During the 1990s, stern fiscal policies, agreed with the IMF and World Bank, and further market-oriented measures slowed the Egyptian economy but in recent years it has picked up again. By 2007, annual growth had reached 7% although inflation had crept back up to 9% - double that of 2003. According to the 2006 census, unemployment stood at 9.3% (although there is considerable under-employment). Egypt's major industries are textiles, fertilisers, rubber products and cement. There are also steel production works and several vehicle assembly plants. The main crops are cotton, rice, wheat, sugar, maize and a range of fruit and vegetables.
The tourist sector is expanding rapidly, particularly along the Red Sea and Mediterranean coasts, despite sporadic terrorist activities of Islamic fundamentalists. Agriculture, which relies on irrigation from the Nile, employs one-third of the working population. Foreign aid, especially from the USA, is an important source of government funds.
During the 1990s, stern fiscal policies, agreed with the IMF and World Bank, and further market-oriented measures slowed the Egyptian economy but in recent years it has picked up again. By 2007, annual growth had reached 7% although inflation had crept back up to 9% - double that of 2003. According to the 2006 census, unemployment stood at 9.3% (although there is considerable under-employment). Egypt's major industries are textiles, fertilisers, rubber products and cement. There are also steel production works and several vehicle assembly plants. The main crops are cotton, rice, wheat, sugar, maize and a range of fruit and vegetables.
The tourist sector is expanding rapidly, particularly along the Red Sea and Mediterranean coasts, despite sporadic terrorist activities of Islamic fundamentalists. Agriculture, which relies on irrigation from the Nile, employs one-third of the working population. Foreign aid, especially from the USA, is an important source of government funds.
Conferences & Conventions
Cairo has many hotels and three large meeting halls (seating up to 2,000 people), which are equipped for use as conference centres. The Cairo International Conference Centre, 12km (7 miles) east of Cairo International Airport, has seating for 2,500 people, with an exhibition hall, banquet hall and comprehensive facilities. There is also a convention centre at Alexandria University, which has a main hall with seating for 2,400.
Business Contacts
Egyptian-British Chamber of Commerce in the UK
PO Box 4EG, 299 Oxford Street, London W1A 4EG, UK
Tel: (020) 7499 3100.
Website: www.theebcc.com
Federation of Egyptian Chambers of Commerce
4 El-Falaky Square, Cairo, Egypt
Tel: (2) 355 1813 or 355 1136.
Cairo Chamber of Commerce
Address as for the Federation.
Tel: (2) 355 8261.
Cairo International Conference and Exhibition Centre
Nasr Road, Nasr City, Cairo, Egypt
Tel: (2) 2263 3222.
Website: www.cicc.egnet.net
Egyptian General Company for Tourism and Hotels (Information on Conferences/Conventions)
6th floor, 4 Latin America Street, Garden City, Cairo, Egypt
Tel: (2) 2792 55529 or 2795 7355.
PO Box 4EG, 299 Oxford Street, London W1A 4EG, UK
Tel: (020) 7499 3100.
Website: www.theebcc.com
Federation of Egyptian Chambers of Commerce
4 El-Falaky Square, Cairo, Egypt
Tel: (2) 355 1813 or 355 1136.
Cairo Chamber of Commerce
Address as for the Federation.
Tel: (2) 355 8261.
Cairo International Conference and Exhibition Centre
Nasr Road, Nasr City, Cairo, Egypt
Tel: (2) 2263 3222.
Website: www.cicc.egnet.net
Egyptian General Company for Tourism and Hotels (Information on Conferences/Conventions)
6th floor, 4 Latin America Street, Garden City, Cairo, Egypt
Tel: (2) 2792 55529 or 2795 7355.
Travel Essentials
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