7 Best Reasons For Setting Up A Business In Egypt

Looking to expand and grow your business in the markets of Egypt?

A variety of business opportunities are available in Egypt for both domestic and international investors. With an overall population of more than 100 million, the nation presents an important opportunity for companies determined to grow.

There are numerous reasons for setting up a business in Egypt as the nation provides a desirable site for enterprises wishing to enter the markets due to its advantageous position at the intersection of Africa, the Middle East, and Europe. The administration additionally implemented an array of policies to improve the economic climate, including reducing administrative procedures and giving investors tax benefits.

This article will explore the different advantages of registering a company in Egypt. It will examine the factors that can help you expand your business for opening up a business in Egypt.

Various reasons for setting up a business in Egypt

Egypt is a nation with a vibrant heritage and culture, and in the past few decades, it has also emerged as a desirable commercial location. There are several reasons for setting up a business in Egypt.

Here are some of the key reasons:

1. Strategic Location and Access to Markets

Egypt is a great area for firms wishing to broaden their presence in the international marketplace because of its strategic location at the intersection of Africa, the Middle East, and Europe. It provides a gateway to a market of over 1.6 billion people within a four-hour flight radius, including Africa’s growing consumer market which is another one of the benefits of registering a business in Egypt.

Additionally, the nation’s advantageous position makes it a prime base for companies wishing to reach local and global marketplaces. Egypt is a desirable location for trade since it has free trade agreements with a number of nations, especially the United States, the European Union, and the Arab nations. This serves as another one of the advantages of registering a company in Egypt.

2. Growing Economy

Egypt is one of the largest economies in the Middle East and North Africa (MENA) region, and it has been experiencing sustained economic growth over the last few years which is another one of the reasons for setting up a business in Egypt.

The country’s GDP is projected to grow at 5.8% in 2023, according to the International Monetary Fund (IMF). The government has also launched a series of economic reforms to attract foreign investment and support private sector growth which is another one of the benefits of registering a business in Egypt.

The country’s infrastructure and transportation networks are also undergoing major upgrades. This infrastructural development will further facilitate business operations in the nation which is another one of the advantages of registering a company in Egypt.

3. Large and Diverse Population

Egypt is home to over 100 million people, making it one of the most populous countries in the region which is another one of the reasons for setting up a business in Egypt.

This large and diverse population offers a significant customer base for businesses looking to expand their market reach.

Additionally, Egypt has a young population, with over 60% of the population under the age of 30, which presents opportunities for businesses in sectors such as technology, education, and healthcare which serves as another one of the benefits of registering a business in Egypt.

4. Skilled and Affordable Labor

Egypt has a large and relatively affordable labor force, with a highly educated and skilled workforce which serves as another one of the reasons for setting up a business in Egypt. The country has a large pool of graduates in science, technology, engineering, and mathematics (STEM) fields.

The labor costs in Egypt are also competitive compared to other countries in the region, making it an attractive destination for businesses looking to reduce their operating costs. This serves as another one of the advantages of registering a company in Egypt.

5. Favorable Investment Climate

The Egyptian government has taken significant steps to create a more business-friendly environment and attract foreign investment which serves as another one of the reasons for setting up a business in Egypt.

Another one of the benefits of registering a business in Egypt is that the government has implemented economic reforms such as liberalizing the exchange rate and reducing bureaucracy to make it easier to do business in the country.

Additionally, the country offers several investment incentives, including tax holidays, duty exemptions, and land allocation which is another one of the advantages of registering a company in Egypt.

6. Rich in Natural Resources

Another one of the reason for setting up a business in Egypt is that the nation is rich in natural resources, including oil and gas, minerals, and agricultural land. These resources present opportunities for businesses in sectors such as energy, mining, and agriculture which is another one of the advantages of registering a company in Egypt.

The country’s strategic location on the Mediterranean Sea also makes it an ideal location for businesses in the shipping and logistics industries which is another one of the benefits of registering a business in Egypt.