Investment Authority Official Egyptian Website
Strong economy and investment-friendly environment
Since 2016, the Egyptian government has been implementing an ambitious economic reform program, including fiscal and monetary reforms, with the aim of achieving rapid and sustainable growth rates as well as inclusive development. This initiative provided dramatic answers to the structural economic difficulties of the Egyptian economy, which have plagued it for years. The themes of this program are implemented in the context of the Egypt Vision 2030, which reflects the long-term strategic plan of the Egyptian government to achieve the principles and goals of sustainable development in all fields and integrate them into various institutions of the Egyptian government.
Economic Reform Program:
The Egyptian government aims to enhance the resilience and diversification of the Egyptian economy, as well as its productivity, in order to achieve inclusive and long-term growth. Against this background, Egypt began implementing a comprehensive national economic and social reform program in November 2016, with the first phase targeting economic reform and the second phase aiming to activate and sustain the benefits of the first phase of the program.
Objectives of the Economic Reform Program:
From 2016 to April 2021, the government implemented the first phase of the economic reform program. Making fiscal and monetary changes aimed at achieving rapid and sustainable growth rates, as well as achieving the full development of Egypt, was part of this phase.
Egypt launched the second phase of the economic reform program, which deals with structural reforms, in April 2021, and extends over a period of three years, after completing the first phase, which aimed to address monetary and fiscal policy imbalances. The program targets for the first time the real sector with radical and targeted structural reforms, and these reforms will contribute to increasing the resilience of the Egyptian economy, raising its ability to absorb external and internal shocks, and transforming the Egyptian economy into a productive economy with competitive advantages, which supports its ability to achieve balanced and sustainable growth.
Positive results of the economic reform program:
The most important economic reform program implemented by the Egyptian government in achieving positive results represented in increasing economic growth rates, increasing domestic and foreign investments, increasing employment rates, and declining unemployment and inflation rates. The implementation of the axes of this program also contributed to enhancing the ability of the Egyptian economy to face the negative repercussions of the crisis of the spread of the Corona virus, and the most important positive results of the program were as follows:
Investment climate in Egypt:
The investment climate in Egypt, especially in the past few years, has witnessed many legislative and institutional reforms aimed at facilitating and simplifying procedures for investors, which contributed to achieving positive results in the field of establishing companies in terms of time, cost and the number of procedures required to start an activity. As a result of these reforms, the Egypt succeeded in achieving a quantum leap in the index of establishing companies in the Doing Business 2020 report to rank 90th instead of 109th in the 2019 report.
Investment climate in Egypt:
The investment climate in Egypt, especially in the past few years, has witnessed many legislative and institutional reforms aimed at facilitating and simplifying procedures for investors, which contributed to achieving positive results in the field of establishing companies in terms of time, cost and the number of procedures required to start an activity. As a result of these reforms, the Egypt succeeded in achieving a quantum leap in the index of establishing companies in the Doing Business 2020 report to rank 90th instead of 109th in the 2019 report.
