Cairo: Egypt’s ongoing recovery efforts, which are being driven by positive performances in key sectors of the economy, far-reaching reforms, fiscal discipline and higher levels of foreign investment, are mapped out in a new report recently produced by the global research and consultancy firm Oxford Business Group (OBG).
The Report: Egypt 2018 looks in detail at the efforts carried out to enhance the country’s business environment partly thanks to the introduction of measures aimed at streamlining licensing procedures and operations.
It also considers the role these and other reforms have come to play in supporting the expansion of Egypt’s manufacturing industry, especially the textile segment, which is experiencing a revival and benefiting, along with other sectors, from an increased focus on local production.
OBG’s publication shines a spotlight on Egypt’s hydrocarbons industry, mulling the potential boost that recent major gas finds could give the economy by setting the scene for the country to once again take on the role of exporter.
In separate coverage, the report examines Egypt’s infrastructure programme, which has a key part to play in the broader economic revival, especially new transport projects and upgrades, including urban transit, seaports and airports.
OBG’s publication analyses Egypt’s banking sector, which is set to undergo major structural reforms, following the move in late 2016 to free-float the currency.
In addition, the report provides in-depth coverage of Egypt’s telecoms industry, considering the significance of the launch of long-awaited 4G services and the arrival of a new player in the market. Tourism, which is rallying on the back of a rise in both arrivals and revenues, and a robust project pipeline, is another focus.
The Report: Egypt 2018 contains an interview with President Abdel Fattah El Sisi, alongside a detailed sector-by-sector guide for investors. It also features a wide range of contributions from other high-profile personalities, including: Sahar Nasr, minister of investment and international cooperation; Yasser El Kady, minister of communications and information technology; Akinwumi Adesina, president, African Development Bank; and Gerald Lawless, chairman, World Travel & Tourism Council.
Commenting after the launch, Oliver Cornock, OBG’s editor-in-chief, said positive macroeconomic indicators confirmed that Egypt’s wide-ranging reform programme was yielding results.
“Efforts to garner economic stability are gathering momentum, with reductions forecast in both inflation and the budget deficit, while local production and exports are expected to rise,” he said. “The upcoming presidential election will inevitably generate an element of uncertainty. However, with growth evident in key sectors and higher levels of appetite for investment, the broader economic outlook for Egypt is bright.”
Souhir Mzali, OBG’s regional editor for Africa, agreed that Egypt’s recovery was gaining ground.
“While a challenging economic environment has necessitated difficult decisions to be made relating to monetary policy, fiscal management and revenue generation, those measures are already beginning to deliver results,” she said. “Our research suggests that investors are returning to a market that has long been known for its strong fundamentals and are keen to play a part in its revival.”
The Report: Egypt 2018 marks the culmination of over eight months of field research by a team of analysts from Oxford Business Group. The publication assesses trends and developments across the economy, including those in macroeconomics, infrastructure, banking and others. The Report: Egypt 2018 is available in print and online.
About Oxford Business Group
Oxford Business Group (OBG) is a global research and consultancy company with a presence in over 30 countries, from Africa, the Middle East and Asia to the Americas. A distinctive and respected provider of on-the-ground intelligence on many of the world’s fastest growing markets, OBG has offices in London, Berlin, Dubai and Istanbul, and a network of local bureaus across the countries in which we operate.
The Report: Egypt 2018 has been produced with the General Authority for Investment (GAFI), the American Chamber of Commerce in Egypt, HC Securities and Investment, PwC and Baker McKenzie. Through its range of products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, tourism, energy, transport, industry and ICT. OBG provides business intelligence to its subscribers through multiple platforms: Economic News and Views, OBG Business Barometer - CEO Survey, Roundtables and conferences, Global Platform - exclusive video interviews, The Report publications and its Consultancy division.
© Press Release 2018
