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Arab Republic of Egypt

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About the Arab Republic of Egypt

With a population of 83 million, Egypt is by far the largest Arab country. It sits in the heart of the Middle East with a growing economy that has become much more diversified than in the past. Over the last few years, Egypt has implemented a series of important economic reforms which have led to a solid macroeconomic performance that is helping the country to weather the tough economic times.

Egypt is a major oil and gas producer, with natural gas production increasing rapidly. Investment needs in power infrastructure remain substantial. The government is putting in place an institutional framework for private public partnerships (PPPs). PPP projects in the pipeline include building and maintaining public schools, hospitals, potable and wastewater stations, and freeways.

Due to global financial crisis, a considerable slowdown in economic activity is expected. According to the IMF estimates, economic growth could fall to 4½-5½ percent in 2008 and 2009 (from a 7 percent average in the last three years), with inflation declining to 8 - 12 percent over the same period. The international economic crisis is also likely to weaken FDI flows and net exports of goods and services would most likely decline as key markets shrink and export prices fall. On a positive note, the financial sector has escaped the negative effects of the international crisis so far. This can be attributed to improved banking supervision, conservative lending practices, and the central bank recently guaranteeing all bank deposits.

Egypt has low personal income and corporate tax rates. The top income and corporate tax rates are 20 percent. A special corporate tax of 40.55 percent remains in effect for oil, gas, and exploration companies. Other taxes include a value-added tax (VAT) and a property tax. In the most recent year, overall tax revenue as a percentage of GDP jumped to 15.8 percent due to a widening tax base and improvements in the collection system, including incentives for timely payments.

Coordinating Ministries

Chamber of Commerce and Industry

Federation of Egyptian Chambers of Commerce
4, Midan El Falaki Street
Cairo,
Egypt
Phone: (202) 3551164
Fax: (202) 3557940
Chairman: Mahmoud El-Araby

Cairo Chamber of Commerce
4, Midan El Falaki Street
Cairo,
Egypt
Phone: (202) 3542943
Fax: (202) 3557940
President: Mahmoud Al-Araby

Egyptian Chamber of Commerce of Alexandria
31, Ghorfa Togaria Street
Alexandria
Phone: (203) 809339/808993/807355
President: Mohammaed Ragab


Manufacturing Association


Export Promotion Board


Investment Centre


Travel/Tourism

Local News

Egypt Al-Siyasa Al-Dawlia News

Egypt Al-Ahram Weekly News

Egypt Daily News

Egypt Cairo Times News

Egypt Akhbarelyom.org News

Egyptian Times News

Egypt Irin News

Egypt Allafrica News

Contact us

COMESA Secretariat
COMESA Centre
Ben Bella Road

P. O. Box 30051

Lusaka - ZAMBIA
Tel: +260 211 229725/32
Fax: +260 211 225107

Email:
webmaster@comesa.int
Website:
www.comesa.int

COMESA INSTITUTIONS

African Trade Insurance Agency
COMESA Clearing House
COMESA Court of Justice
FEMCOM
Leather and Leather Products Institute
PTA Bank
PTA Re-Insurance Company
Regional Investment Agency