Mamdouh Shimi, CEO of BrandMix – a marketing and public supply firm catering to multinational and prominent Egyptian companies – highlighted Egypt’s market as a promising and attractive investment hub, particularly in marketing.
Shimi noted that small and medium-sized enterprises (SMEs) constitute 80% of the entities in Egypt’s marketing sector. However, he raises concerns about the informal market segment, which operates without state oversight or the financial obligations that formal companies adhere to, causing significant harm to the latter.
In response, BrandMix has established a code of conduct for its moderators to enhance service quality and raise awareness.
Shimi advocated for state intervention to address this disparity, warning that the current situation could force formal companies to shut down or exit the market. He appeals to the business community to discontinue engagements with informal entities and encourages such companies to legalize their operations. This move would not only boost state tax revenues but also improve product quality for consumers.
Shimi said that business activity in Egypt has been on an upward trajectory for the past nine years. BrandMix aims for a 30% growth by 2024, seeking to expand partnerships with multinational and leading Egyptian firms.
He asserted that SMEs form the backbone of the global economy, accounting for 80% of economic activity. Looking ahead to 2024, BrandMix will prioritize e-marketing to align with its strategic vision and cater to the increasing customer interest in digital marketing.
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