Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most of its economic activity takes place. With direct access to Africa, Europe, Asia and the Middle East; Egypt is home to a number of large manufacturers due its strategic geographical location.
Over the last two decades, and throughout the economic downturn, Egypt has pushed forward with a series of structural reforms to encourage foreign investment and facilitate GDP growth. This has attracted several large Multi-National Corporations, including household names such as Vodafone and Microsoft, who have established bases in the country.
In 2010, HSBC identified Egypt amongst a group of six emerging markets, known as CIVETS that will grow three times faster than developed countries and will be imperative to global recovery. In 2011, Citigroup added Egypt to their new category of Global Growth Generators or ‘3G’ countries, defined as ‘those countries, regions, sectors, trade corridor, or asset classes that we consider likely to thrive in our globally integrated economy, with high growth rates and high returns to investment during the coming decades’.