A rapidly growing population (the largest in the Arab world), limited arable land, and dependence on the Nile all continue to overtax resources and stress society. The government is challenged to meet the demands of Egypt's population through economic reform and massive investment in communications and physical infrastructure. Egypt, the African country, which has been a witness of many ups and downs economically in recent few years, and where things looked quite shaky at one time, now seem to be coming back on track. Most experts believe that the future of Egypt now looks good and fruitful.
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Investing in Egypt can be a wise decision at this point of time, where Egypt seems to veil a lot of potentials, which is said due to the largest consumer market the country has. Also, the location of Egypt is very favorable and the Egyptian economy is anticipated to grow shortly as well.
Economic Condition of Egypt
Economic conditions have begun to change significantly as a result of the government's implementation of more liberal economic policies, as well as improved tourist sales and a thriving stock market. The International Monetary Fund (IMF) has ranked Egypt as one of the best countries in the world undergoing economic reforms in its annual survey. A drastic decrease in customs and tariffs has been one of the government's main economic reforms since 2003. Agriculture, newspapers, petroleum imports, natural gas, and tourism are the mainstays of Egypt's economy; more than three million Egyptians working abroad, mostly in Saudi Arabia, the Persian Gulf, and Europe.
Profitable Business Sectors
1. Agriculture sector
Egypt's agriculture sector is vital to the country's economic recovery and is a pillar of the country's recovery. The agriculture sector has historically been a significant source of development and funding for non-agricultural sectors in Egypt's economy. Rapid agricultural growth, according to development analysis from a wide range of countries, leads to the fastest job growth, making it the best entry point for ensuring that economic growth is widely participatory and therefore egalitarian. Irrigation is almost exclusively based on Egyptian irrigation.
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2. Transportation sector
Egypt's transportation is based on Cairo and essentially follows the Nile's settlement pattern. Egyptian National Railways operates the mainline of the country's 40,800-kilometer (25,400-mile) railway network, which stretches from Alexandria to Aswan. The Nile Valley and Nile Delta, the Mediterranean and the Red Sea coasts, the Sinai, and the Western oases currently have a vehicle road network of over 21,000 miles, with 28 tracks, 796 stations, and 1800 trains serving the Nile Valley and Nile Delta, the Mediterranean and the Red Sea coasts, the Sinai, and the Western oases. The country's transportation market has seen substantial investment.
3. Textiles and Garments
Textile processing is one of the world's oldest businesses. Scraps of linen fabric discovered in Egyptian caves are the earliest known textiles, dating back to about 5000BC. Today, Egypt's textile industry includes more than 3,000 businesses, ranging in size from small (employing less than 8 workers) to large (employing more than 1,000 workers) (greater than 20,000 laborers). These corporations are both public and private. Spinning, knitting or sewing, and wet production are the three primary steps in the processing of cotton-based textiles.
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After agro-industry, it is the second-largest generating sector and the first in terms of employees, accounting for 30% of local employment. According to the Egyptian Central Bank, it accounts for 3% of GDP, 30% of manufacturing production, and about 13% of non-petrochemical exports.
4. Electricity and Renewable Energy
Egypt's clean energy potential is enormous: The Red Sea's coastal areas are among the world's best wind zones, and the country's huge desert areas receive abundant solar radiation. Furthermore, the government has long promoted the production of clean energies. Egypt's economic revival, which is catalyzing wider private sector growth, is dependent on energy. The achievement of strong sustainable economic growth and improving living conditions across the world would result in a rise in electricity demand.
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