SUEZ CANAL ECONOMIC ZONE Egypt as a world-class economic and trade hub Tel.: 02 874039 milano@egyptcom.it 02 874865 milano@ecs.gov.eg Consulate General of Egypt Commercial Office 1 Milan
Egypt At A Glance Semi-presidential Republic under Abdel Fattah Al-Sisi 5 th Largest Country in the Middle East and 29 th Worldwide 1 st most populous Country in the Middle East and 14 th Worldwide, with 93 Million inhabitants (2017) Strategically located as a crossroad between Africa, Europe and Asia Consulate General of Egypt - Commercial Office Milan
Macroeconomic Overview Real GDP Real GDP Growth GDP in US$, billions Quarter Growth 330,8 5,6% 301,5 5,1% 5,1% 5,0% 286,0 276,4 4,5% 4,1% 236,0 3,6% 3,4% 3,4% 3,3% 3,3% 1,6% 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2016 2016 2011 2012 2013 2014 2015 Consulate General of Egypt - Commercial Office Milan
Macroeconomic Overview Foreign Reserves Unemployment Net International Reserves, Bn US$ Unemployment Rate 35000 31,1 13,4% 13,4% 13,4% 13,3% 30000 28,5 28,6 26,6 26,4 13,1% 24,3 25000 23,1 12,9% 19,6 19,1 12,8% 12,8% 12,8% 20000 12,7% 15,6 16,6 12,6% 15000 12,4% 10000 5000 0 1st 2nd 3rd 4th 1st 2nd 3rd 4th 1st 2nd 3rd 4th 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2016 2016 Consulate General of Egypt - Commercial Office Milan
Policy developments Main Policy Pillars Policy Achievements Implementing new VAT law Tax Policy and Revenue Reforms Adjusting energy prices Public Public Debt Partial lifting of subsidies on spending Management priorities and petroleum products and financing reform strategy measures Floating the Egyptian pound Monetary Issuing of the New Investment Law Policy Consulate General of Egypt - Commercial Office Milan
Suez Canal Economic Zone Aim of the Project • Creation of a world-class free zone and trade hub along the banks of the newly-expanded Suez Canal, in order to become a leading economic hub and a preferred destination for investment Location • An area of 461 km ² , strategically located as a crossroad between Europe and Asia, it consists in two development areas, two integrated areas and four ports Sectors involved • Port & Container Logistics; Maritime-related services; Manufacturing; ICT; (Renewable) Energy; Water and Wastewater management and others Consulate General of Egypt - Commercial Office Milan
Strengths, opportunities and incentives Strengths Incentives Opportunities • Established and developing • Business-friendly process for • 100% foreign ownership of infrastructure investors companies • Strategically located on the • Accelerated licenses registration, • 22,5% corporate tax main trade route between visa services and permits related • No VAT Europe and Asia to land, labor and building • No customs on value add on • 68 FTAs implemented • New Suez Canal Project imports to Egypt • Local market of 92mln people • Italian Industrial Park Project • Free zone Consulate General of Egypt - Commercial Office Milan
Sectors and Locations Integrated Development Port Areas: Areas: Areas: West Port Said Ain Sokhna City Qantara West Port and Port Adabiya Port East Port Said City Al Tor Port East Ismailia and Port Al Arish Port Real Estate Maritime Industrial Energy Agribusiness Retail Logistics ICT Consulate General of Egypt - Commercial Office Milan
General Plan Overview Consulate General of Egypt - Commercial Office Milan
New Suez Canal Project The project The aim Construction of a new canal parallel Reduce waiting time from 11 hours to to the old one; deepening/widening of current by-passes in Great Bitter 3 hours Lakes and Ballah Increase canal capacity from 49 Total length of the project is 72km to 97 ships per day by 2023 Work started in 2014 and completed Increase canal revenues from 5,3 bn in 2015 US$ to 13,2 bn US$ by 2023 Consulate General of Egypt - Commercial Office Milan
For any information please contact us Consulate General of Egypt Commercial Office Milano milano@egyptcom.it , milano@ecs.gov.eg
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