the mediterranean from barcelona back to barcelona funding from emp to enp to ufm dr. alaa ezz...
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The MediterraneanFrom Barcelona Back to BarcelonaFunding from EMP to ENP to UfM
Dr. Alaa EzzSecretary General
CEEBA & FEDCOC
The Tsunami of Funding albeit the Economic Crisis
The Instruments
Meda 2 (2000 – 2006) for 10 countries•EC Grants of € 5.5 billion•EIB loans of € 6.4 billion and •EIB risk Guarantee of € 1 billion
Meda 1 (1995 – 2000) for 12 countries•EC Grants of € 4.6 billion•EIB loans of € 3.4 billion
ENPi (2007 – 2013) for 9 countries•EC Grants of € 12 billion•EIB loans of € 8.7 billion and •EIB risk Guarantee of € 1 billion•Neighborhood Investment Fund of €700 + contributions from MS•Governance Facility of €300 million •Neighborhood programmes & accession instruments•NIF Leveraging loan resources from European Development Banks (x 4-5 times)•CBC (including ERDF) € 173 +26.4 million•Spring Fund € 300 million
UfM 1 (2008 – ????) •???????
Origins of ENPI Regulation 1638/2006 of 24 Oct, 2006
EC External assistance: Responding to the call for simplification …
More than 30 instruments for delivering external relations assistance
More than 30 instruments for delivering external relations assistance
Policy driven instruments: ► Instrument for Pre-Accession Assistance (IPA)► European Neighborhood and Partnership Instrument (ENPI) ► Development Cooperation Instrument (DCI)► Economic Cooperation Instrument (ECI)► Instrument for Nuclear Safety Cooperation (INSC)► Human Rights InstrumentCrisis response instruments: ► Humanitarian Aid Instrument ► Macro-financial Assistance► Instrument for Stability
Policy driven instruments: ► Instrument for Pre-Accession Assistance (IPA)► European Neighborhood and Partnership Instrument (ENPI) ► Development Cooperation Instrument (DCI)► Economic Cooperation Instrument (ECI)► Instrument for Nuclear Safety Cooperation (INSC)► Human Rights InstrumentCrisis response instruments: ► Humanitarian Aid Instrument ► Macro-financial Assistance► Instrument for Stability
Before 2007Before 2007
From 2007From 2007
ENPI EC financial support
MEDA has most of ENPi
► Commission proposal:
nearly €15bn ►End result: nearly € 12 bn, 45% increase in nominal terms and 32% in real terms
► 11.2 M€ ENPI & 0.8 Thematic programmes and HR instrument
► Commission proposal:
nearly €15bn ►End result: nearly € 12 bn, 45% increase in nominal terms and 32% in real terms
► 11.2 M€ ENPI & 0.8 Thematic programmes and HR instrument
Previous funding(2000-2006)
Previous funding(2000-2006)
Present funding (2007-2013)
Present funding (2007-2013)
EC budget: ►Total: €8.3bn ►MEDA €5.5bn ►TACIS € 2.3bn
► Thematic Programmes
€ 0.5
EC budget: ►Total: €8.3bn ►MEDA €5.5bn ►TACIS € 2.3bn
► Thematic Programmes
€ 0.5
Plus € 300 million SPRING FUND
EU financial Support
EIB lending (2007-2013):
► Overall figures for the new mandate includes very substantial increase for 2007-2013. Ceiling for external lending mandate for ENPI is € 12.4 bn. (Mediterranean: € 8.7 bn / East: € 3.7 bn)
► Closer cooperation with International Financial Institutions (such as EU member states and the G8) is foreseen.
EIB lending (2007-2013):
► Overall figures for the new mandate includes very substantial increase for 2007-2013. Ceiling for external lending mandate for ENPI is € 12.4 bn. (Mediterranean: € 8.7 bn / East: € 3.7 bn)
► Closer cooperation with International Financial Institutions (such as EU member states and the G8) is foreseen.
Same for EIB lending
Now the EBRD is in SEmed CountriesWith an initial € 1 billion
EIB funding is more for Private Sector
EIB funding is for SMEs
ENPI
And at Last a Regional Element
Country and multi-country programmes
Minimum 95.0%(over € 10.6 bn)
Country and multi-country programmes
Minimum 95.0%(over € 10.6 bn)
Regional & Cross-border cooperation programmes
Up to 5.0%(almost € 550 million) /enhanced by another 0,5 Bln € from ERDF funding/
Regional & Cross-border cooperation programmes
Up to 5.0%(almost € 550 million) /enhanced by another 0,5 Bln € from ERDF funding/
The ENPI Main features
Partnership not Aid
Strategy Papers
Strategy Papers
Multi-annual Indicative
Programmes
Multi-annual Indicative
Programmes
Action Programmes
Action Programmes
► Analysis of the situation
► Response strategy
►Priority sectors
► 7 years
► revised at mid-term
►normally attached to Strategy Papers
► set global and per priority allocations
► cover 3 – 4 years
►annual
► describe projects identified for financing
► define the budget per
project
►lead to EC decision & commitments of funds
ENP New Instruments
Technical AssistanceBilateral& Regional
Budget/sector support
TwinningInvestment
co-Financing
Novel Inter-EU Instruments
Taiex, Tempus, FP7, Erasmus
Regional Projects for Business– TRANSPORT: Motor Ways of The Sea; Galileo;
SafeMed
– TRADE & INVESTMENT: InMed Invest; Aghadir; Euromed Quality; EuroMed MARKET; EIB FEMIP; FEMISE;
MedADR; MedSTAT II; EU Medis;
– ENERGY: MedEnec II; MedEMIP; RCREEE; WAMGM
– R&D & TRAINING: Med Ibtekar; TEMPUS III; MedaETE
– ENVIRONMENT: Horizon 2020; Meda Water; SMAP III
But what is in it for business ?Besides EIB & EBRD Funding
BUSINESS
Indirect BenefitDirect Benefit
Access to TA
Tendering
Access to Finance
Services Supplies Works
Business Opportunities Business Environment
Reform of Public Admin.
Reform of Financ. Sector
Institution building
Business Information
TENDERING
DIRECT BENEFIT / Business Opportunities
Services (TA)
Supplies
Works
All bilateral
All Regional
All ENP Bilateral
All bilateral
All Regional
All ENP Bilateral
All bilateral
All Regional
All ENP Bilateral
Transport Sector Support; Water Sector Support; Health Sector Support; Education Sector Support; Textile Sector Support; South Sinai; TVET; RDI; EPAP II; SMAP; NATP II; MWS; Galileo; SafeMed; InMed Invest; Euromed Quality; Aghadir; EuroMed MARKET; EIB FEMIP; FEMISE; Meda water MedADR; MedSTAT II; EU Medis; MedEnec; MedEMIP; RCREEE; WAMGM; Med Ibtekar; TEMPUS III; MedaETE Horizon 2020;
Not only in YOUR Country
BUSINESS INFORMATION
DIRECT BENEFIT / Business Opportunities
- Customs Regulations- Legislative Requirements
- Investment Incentives
Business Co-operation
Research and Development
Environment and Sustainable Development
Conformity Assessment
Market Access
Certification
Environmental Legislation and Standards
European Commission’s Research and Development Programmes
“Partner Search” inside and outside the European Union
INSTITUTION BUILDING
INDIRECT BENEFIT / Business Environment
Programmes
Prog. in Financial Sector Reform
Budget Support
REGULATORY REFORM & REFORM OF PUBLIC
ADMINSTRATION
REFORM OF FINANCIAL SECTOR
RegionalProgrammes
InstitutionalTwinning
The Dream 2010 FTA
And will not Affect the South Now
95 96 97 98 99 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18
Algeria
Egypt
Israel
Jordan
Lebanon
Morocco
Palestinian Authority
Syria
Tunisia
Source: Data from European Commission.
Notes: orange - no Association Agreement (AA), yellow - gradual liberalisation, green - full liberalisation.
Lags of import-tariff reductions
EU share is Small but not bad
Source: Eurostat.
Yet the EU is the main trading partner of the Med countries, absorbing around 50% of their exports
And is Supported Bilaterally
WTO joined
GAFTA
signedb
AGADIR FTA signed
Pan Euro MED RoO
US MEFTA
into forcec
bilateral with
1 Algeria observer 2002 - -2 Egypt
a 1995 1998 2004 2006 - 12
3 Israel 1995 - - 2006 1985 44 Jordan 2000 1998 2004 2001 35 Lebanon observer 1998 - -6 Morocco 1995 1998 2004 2006 2006 127 Palestinian Authority - - -8 Syria - 1998 - - 129 Tunisia 1995 1998 2004 - 12
10 Cyprus 1995 - - -11 Malta 1995 - - -12 Turkey 1995 - - - 2,6,8,9
Sources: European Commission, White House, World Bank, WTO.a Since 1998 Egypt is also a member of the Common Market for Eastern and Southern Africa (COMESA).
c US-Mediterranean Free Trade Area suggested by President Bush in 2003.
b Greater Arab Free Trade Area. Other members: Bahrain, Iraq, Kuwait, Libya, Oman, Saudi Arabia, Sudan, Qatar, UAE, Yemen .Except ALG GAFTA became effective on 1 January 2005 with a transitional system of rules of origin demanding a 40% ratio of Arab content.
Mediterranean regional trade agreements (extra EU)
But how can the South-South Dimension be strengthened
• Real Adoption of the Pan-Euro-Med Rules of Origin “RoO”
• Harmonisation of laws in economic matters, Invigoration of trade exchanges, promotion of the industrial sector, promotion of
economic activities and employment, improvement of productivity and living standards
• Co-ordination of sectoral and global economic policies, especially in the fields of foreign trade, agriculture, finance,
taxes, services and customs
• And most important, more business information and cooperation and establishment of the missing trade routes
NO South-South Dimension for2010 FTA without Trade Routes (compare North & South)
And It Worked for Aghadir
-20,000.0
-10,000.0
0.0
10,000.0
20,000.0
30,000.0
40,000.0
mill
ion
US
D
Imports Exports Balance
Imports 33,107.5 31,906.7 30,598.5 28,178.9 30,322.6 33,915.6 36,566.2
Exports 21,012.9 20,723.8 20,842.0 20,202.0 22,584.2 25,117.8 28,523.9
Balance -12,094.6 -11,182.9 -9,756.6 -7,976.9 -7,738.4 -8,797.8 -8,042.3
2000 2001 2002 2003 2004 2005 2006
Trade Between Aghadir & EU (2000-2006)
Likewise it will work for all the Mediterranean
Its time to
walk the talkand make every effort to
utilize the available funding, means, networks, and cooperation channels;
And Utilize the available Funding
• May 2011: Deauville G8 summit: Egypt and Tunisia will receive aid worth more than 28 billion euros
• September 2011: The G8 countries and a number of world and regional financial institutions pledged $73 billion in aid to Tunisia, Egypt, Morocco and Jordan – Finance ministers from the G8 pledged $38 billion – IMF promised a further $35 billion as part of the
Deauville Partnership
Funding • Overseas Private Investment Corporation (OPIC), the
U.S. Government’s development finance institution, approved $150 million in financing for investment in
consumer foods, manufacturing and financial services, a step toward fulfilling OPIC’s commitment to provide $2 billion of investment support to the MENA region,
announced by Secretary of State Hillary Clinton during her March 2012 trip to Egypt.
• July 2012, OPIC’s Board approved $500 million to support lending to SMEs in Egypt and Jordan.
• July 2012, Egypt repaid US$ 1 billion bonds and US$ 607 million of Paris Club Debt
• October 2012, Turkey committed US$ 2 billion loan for Egypt
FundingGulf Support
17 billion US$ mixed grants and loans
• Qatar: 5 billion US$ deposit at CBE” (plus 9 billion US$ immediate investments in
Alexandria and Port Said ports)
• Kuwait: 3 billion US$ “pledged” (plus a 1 billion LE fund in support of the stock exchange)
• Saudi: 4 billion US$
With Funding Eligible for foreign Companies
Saudi Support to Egypt• Budget Support Grant: 500 million US$
• SDF Grant for SMEs: 200 million US$
• SDF special loan for dev. projects: 500 million US$
• Interest Free Deposit at Central Bank to support foreign reserve: 1 Billion US$
• Government Interest Free loan: 500 million US$
• Revolving Buying of Egyptian T Bonds: 500 million US$
• Line of Credit for Saudi Exports to Egypt: 750 million US$
The Euro-MediterraneanConference & Exhibition onDonor Funding, Banking andNovel Financial Instruments
M E D A F I N A N C E
The €22 BillionInitiative
The AimTo monitor available resources and network with the EC, EU member
states and all donors & financial institutions aiming at the support of business through:
• Availing the highly needed information about sources of grants, technical assistance, soft loans, and novel financial instruments to their real target…SMEs
• Promoting novel financial instruments inclusive Non Banking & Novel Financial Instruments Factoring, Leasing, Mortgage finance, Venture Capital and private equity as the future funding mechanism worldwide.
• Strive to Repeat the InfraMed concept that was created by the Egyptian Co-Presidency of the UpM
• Giving credit and visibility to the EC and all our development partners
Meda Finance The Initiative 1. Survey of EC, EIB, EU member states and Multilateral
grants, TA, lines of Credit, as well as novel non-Banking Financial Instruments available for the Euro-Med (over $ 22 billion so far), … but we continue
2. Setting up the mechanism for periodic updating
3. Conducting "The 1st Euro-Mediterranean Conference & Exhibition on Donor Funding, Banking and Novel Financial Instruments as a networking platform
4. Sustainability of the initiative and setting up the formula for replication
5. Follow-up with customized proposals to all donors
Meda Finance The Study CD
A total of 113 instruments were sourced, that is besides the aid offered to Governments which is translated into tenders for services and supplies implemented by private sector from the Mediterranean
1. Over 43 instruments available for the whole region by 18 countries/institutions/programmes of AfDB, Belgium, EC, EIB, Finland, France, Germany, IDB, Japan, Kuwait, Netherlands, Saudi Arabia, South Africa, Spain, UAE, UNDP, UNIDO, USA, and WB/IFC/IBRD; besides what is offered to individual countries from Canada, Denmark, and Italy, .. and naturally the countries themselves.
2. Over 70 Instruments available for individual countries: Algeria 6; Egypt 35; Israel 4; Jordan 6, Lebanon 5, Morocco 10, Syria 4, Tunis 14
Meda Finance The Study CD
• Grants: in cash or as technical assistance up to Euro 1 million (50% to 80% of costs), feasibility studies, export finance, credit guarantee, diagnostics, upgrading, training, export promotion support, …etc
• Soft loans: up to 80% of project budget extending from US$ 100,000 up to 100 million, with interest from zero to less than commercial rate, both fixed and floating, both in euro/$ or local currency, with grace periods from 1 up to 8 years and maturity from 5 up to 15 years (sovereign loans are 0.75% interest, grace 10 years, and maturity 40 years)
An Annual Initiative for EuroMed SMEsTo Bridge the Bridges Project with Finance
EgyptAlbeit the present situation, it is
still The Land of Opportunities
Dr. Alaa EzzSecretary General
Federation of Egyptian & European Chambers
Egypt’s Economy Today
Key Indicators
2011 Estimates2012 estimates
2010201120122012
Real GDP Growth (%)3.30-.702.003.30
Consumer Price Inflation (av;%)11.1016.2011.6012.1
Budget Balance (% of GDP)-8.00-10.40-11.00-10.50
Current-Account Balance (% of GDP)-2.00-2.70-1.40-1.6
Exchange Rate US$:LE (av)5.636.106.206.10
Exchange Rate US$:LE (year-end)5.806.156.097.10
EIU 2011/2012
It’s the momentum of a decade
• Firm Commitment to Peace and Internal Political Stability.
• One of the top ten Global Reformers for five years (WB doing business report).
• Attractive Investment Climate.
• Free Trade Areas.
Attractive Investment Climate
•Macro-economic stabilization and comprehensive structural adjustments
•Clear transparent incentives
•Specific business opportunities
Clear transparent Incentives• Special Incentives for localizing projects.
• Lowest Tax in the region (cut by half down to 20%), yet 124% increased revenue.
• Lowest customs within the region (4 years ahead of our WTO commitments), yet doubled custom revenue up to L.E. 14.7 billion from only 7.7 five years ago.
• Human Resources, R&D and grants
• Special Free Zones or Pre-Developed Free Zones.
• The Right to Possess and Own Land at very low cost.
• No Local Partner Conditions (100% Foreign ownership)
Macro Stabilization & Comprehensive Structural Adjustments
• Deregulation, Liberalization and Privatization
• Changing Role of the Government (from operator to regulator through PPPs)
• Rationalization of Public Expenses & Subsidies
• Tax & customs Reforms,
• Free Exchange Markets & Stronger Currency
• Elimination of Trade Barriers
5 years Top Global Reformer
Macro Stabilization & Comprehensive Structural Adjustments
• Simplifying Investment procedures, it now takes less than 72 hours to establish a company instead of 6 month few years ago
• Unified investment, Labor, Banking and Telecommunications laws aiming at restructuring the business climate and strategically simplify the legal framework for investment policies.
• Issuing modern legislations related to IPR, competition and consumer protection
A top Ten Global Reformer
Booming Economyduring 2010 in a world of negative growth
• GDP: + 7.2% (in 2008), 4.7% in 2009, 6.1% first half of 2010• Industrial investments increased 5 time in 4 years to reach US$ 30 billion• Non oil Exports: Up to 105 billion US$ annually from 44 four years ago • Tourism: + 71% in four years up to 11.6 billion US$ annually• Suez Canal: +24% in 4 years to 3,1 billion US$ annually• Egyptian Workers abroad: +100% to 9.8 billion US$ • Natural gas and petrochemicals: Second export train with increased expectation
• Oil: rising international price • CBE Reserve: Exceeding US$ 36 billion dollars where it was only 12 billion just
four years ago • FDI: +700% in five years to reach 9 billion US$ annually plus 15.6 billion US$
local investments
Which will Come Back
El GhadEl Ghad
Protection Revolution
Party
Protection Revolution
Party
EgyptCommunist
Party
EgyptCommunist
Party
IslamicLabour Party
IslamicLabour Party
Reform and Development
Party
Reform and Development
Party
Freedomand
Justice Party
Freedomand
Justice Party
ArabUnification
Party
ArabUnification
Party
Reform and Renaissance
Party
Reform and Renaissance
Party
El WasatEl Wasat
El NourEl Nour
Left
KaramaKarama
Al-Tahrirrevolutionnaries
Party
Al-Tahrirrevolutionnaries
Party
Altyar PartyAltyar Party
Alwa’iAlwa’i
Free Egyptians
Free Egyptians
WafdWafd
Nasserist
Party
Nasserist
PartyTagammuTagammu
EgyptianSocialist
Party
EgyptianSocialist
Party
Free Constitutional
Party
Free Constitutional
Party
DemocraticLabour Party
DemocraticLabour Party
SocialistPopular
Alliance
SocialistPopular
Alliance
DemocraticFront PartyDemocraticFront Party
KenanaKenana
Social Democratic
Party
Social Democratic
Party
Map of Egyptian political parties
El`AdlEl`Adl
MasrAlhuryya
MasrAlhuryya
30 political parties
20 new political parties after 25 January Revolution
Socialist Alliance National DemocraticAlliance
30 political parties
20 new political parties after 25 January Revolution
Socialist Alliance National DemocraticAlliance
Secular
Right
Religious
National Party
National Party
5 liberal parties
3 center parties
3 center-left parties
5 socialist/communist parties
3 Nasserist parties
3 Former NDP members` parties
9 Political Islam parties
Change and Development
Party
Change and Development
Party
Updated: 21.07.2011
Updated: 21.07.2011
FreedomParty
FreedomParty
ECD, Cairo
Parties with an Economic Agenda
The Free Egyptians
Al Wafd Democratic Front
El Adl Masrena - Reform and Development
Masr el Horeya
Egyptian Social Democratic
El Wasat El Jadid
Freedom and Justice
El Nour
General Classification:
Liberal Liberal Liberal Liberal Democratic (Conservative)
Moderate- Centrist
Centrist Centrist Moderate Islamic
Islamic Islamic
Position on Free Market Economy (FME):
For the establishment of a FME
For FME For FME Support and regulate market economy
For FME accompanied by a social safety net and strong executive institutions
For FME For FME with strong government presence
Within the Arab, Islamic, and African arena
Role of Government:
Regulator Strong regulator / could be a strategic operator / against random privatization
Regulator and helps direct the private sector
Regulator Regulator Regulator (reduce size of government/ create policies that ensure that the gap between social levels is reduced)
Regulator Regulator (provide a political vision to regulate market dynamics/ social justice / building and maintaining infrastructure)
Mainly regulators but should develop strategic projects/ enforce antimonopoly measures/ Protect the poor
Government provides all agricultural inputs
Role of Private Sector:
Encourage and invest in SMEs and different industries/ help eradicate poverty
The main economic developer and job creator / must be socially responsible
Strong relationship of private sector and government but private sector should play a lead role in the economy
Lead role in the economy
Major driver of the economy
Lead role in the economic activity
Encourage it by ending the emergency status and provide a transparent and stable, institutional, legal environment
Important Encourage and invest in SMEs
Facebook Fans:
63001 15061 4584 14262 3200 8077 15227 11983 29115 4291
ECD, Cairo
And the Present Reserve Decline
is a Global Issue
Same for the Stock Exchange
EgyptThe Land of
Opportunities
TradeLarge domestic market
Easy access to regional markets
Regional Free Trade Areas
Bilateral Free Trade Agreements
Retail
Investment
Infrastructure and Services
Recapping Stock Exchange
Banking & Insurance
Takeover of liquidity problem companies
Subcontracting
Joint Ventures
Training Centers
Retailing
Funded Mega Projects
Gulf of Suez
East Port Said
North East Toshki
Sheikh Zayed Canal “Toushki”
East Oinaat
Free Zones
12 PPP Industrial Zones
22 New Industrial Cities
Spe
cifi
c B
usi
nes
s O
ppor
tun
itie
s
The Local MarketWith a population of over 90 million and an increasing per capita income,
Egypt has the largest domestic market in the region.
Household Expenditure
2011 per capita food consumption +9.3%; forecast to 2015 +65.1%2011 carbonated drink sales +5.6%; forecast to 2015 +56.4%2011 mass grocery retail sales +14.9%; forecast to 2015+ 251.9%
Egypt, the cross-road of trade • located in the Middle of all Trade Routs • Free Trade Areas of 1.4 billion consumers (for manufacturing
& Subcontracting 100% custom exemption, 35%-45% local content)
– EU 27 countries
– EFTA 4 countries
– COMESA 19 countries
– Greater Arab FTA “PAFTA” 18 countries
– Mercosur 4 countries
– Bilateral Free Trade Agreements USA and Turkey
• Easy Access to Regional Markets• Modern Ports, Free Zones & Transit Facilities
Egypt still poses an excellent opportunity for foreign Companies to:
• Increase Exports to Egypt– Large market for technologies, machinery & products– Lines of credit & Grants– Modernization Needs
• Increase Foreign Exports to Third countries– Added value subcontracted assembly or formulation– To benefit from Free Trade Agreements
• Use Egypt as a Transit Trade Hub for the Region– Fast and Easy Access to Regional Markets– Utilize Egypt’s Modern Free Zones & Transit Facilities
Trade, the two way approach
Foreign CompaniesTechnology, Components, CKD, Inputs, Licenses, TRAINING, QC, ..etc.
EgyptAssembly, Formulation, Installation, Arabization..etc
The Region
COMESA COMESA MercosurMercosurTurkey Turkey USAUSA
PAFTAPAFTA
EU27 + EFTAEU27 + EFTARoyalty
Japan•Funding Telephone Exchanges in Africa•Design, supervision, CKD by NEC
CEgyptAOI: Local AssemblyEgyCab: Supply of Cables
@Arab Co: Installation
Trilateral Cooperation for Africa
Japan•Finance of airports, water stations, power plants, ..etc•Supply of core components
EgyptLocal Content, civil works, ..etc.
Trilateral Cooperation for Iraq
German Government•Funding of Police training•German Companies: Curricula and train-the-trainers program
EgyptPolice Academy: Training and hosting of Palestinian Police Force
Trilateral Cooperation for Palestine
Foreign companies with Egyptian Partners for reconstruction of Libya
Vinci Bouygues Technip Eiffage
Saipem - Bilfinger Berger- Danieli & C
Techint Group Impregilo
Balfour Beatty Petrofac Ltd
Joannou & Paraskevaides
FCC - OHL - Ferrovial Agroman - EIFFAGE Tecnicas Reunidas
Grupo Isolux
HOCHTIEF - Bilfinger Berger - Joannou & Paraskevaides Ed
Zublin AG - Siemens
Polimeks Insaat Taahhut ve San Tic
Renaissance - GAMA Enka Construction
• History, Culture & Tradition• Attractive Touristic & Recreational Sites• Endless sandy beaches with International Facilities• Spacious Residential Facilities• International Education for the Children• World Class Health Services • Hospitable People and a Large Expatriate Community• Pleasant Climate all the year• And a very Spicy political climate
Moreover, Egypt offers to tourists and foreign residents:
All these world leaders and many many more, evaluated the rest to invest in the best:
ABB; Abbot; Babcock & Wilcox; Bayer; Birla; Boehringer; BMW; Cadbury; Carrier; Daimler Chrysler; Daewoo; Danieli;
DOW Chemicals; Du Pont; Eveready; General Motors; General Motors; Henkel; IBM; Johnson & Johnson; LG;
Macro, Microsoft; Moulinex; Nestle; Nissan; Otis; Otsuka; Peugeot; Pfizer; Philips; Proctor & Gambel; Roussel Uclaf; Samsung; Sandoz; Siltal; Sumitomo; Suzuki; Technocar;
Toshiba; Unilever; Westinghouse; Xerox; YKK; ..etc.
They Came to Egypt, the land of opportunities .
We Invite You toguide your companies on the path of these
pioneers who are reaping the fruit of their early arrival
Come to Egypt, in a tradition that is summarized in the following words of ancient Egyptian wisdom:
“Rig your Boat, travel near and far, look for a wise partner,
knock his door, seek his knowledge,welcome him in your home,
this is how your people will prosper”
Amenophet, 2,500 B.C.