Egypt: The Destination For Business

With the Egyptian government introducing new reforms and policies, trade and investment in this country has grown leaps and bounds. A slash in tariff and customs by the government has ensured a rise in foreign investors. The dedicated free zones that offer exemption on taxes for goods exported to different parts of the world are attracting foreign and local investors to set up shop.

Due to the well structured policies and reforms of the government, revenue from different sectors is coming in, thus strengthening the economy of this country. With exemption policies in free zones and tariff being slashed drastically setting up a business in Egypt is a wise decision. Another reason why Egypt is being preferred by foreign investors is because of the availability of a qualified workforce at a relatively low cost.

Businesses you can set up in Egypt

There are a number of businesses you can start in Egypt. Every sector offers equal opportunity to investors. The start-up cost and the operational cost depend on the type of business you want to start. A lot of Egyptian nationals travel abroad to learn English. Setting up educational institutes with an exceptional training and teaching staff that teaches students English is not only an excellent business idea but also ensures parents don't have to spend huge sums and send their children to faraway lands to learn the language. You don't have to worry about capital as there will be a lot of foreign and local investors that will be willing to fund the project knowing it's a profitable venture. The initial set up of educational institutes should be in populated cities of Egypt and later in less urbanized areas.

Another business that has excellent potential in Egypt is the garment and textile industry. We are well aware of the demand for Egyptian fabric in the West. A number of tourists visit Egypt all year round and love to pick up different prints of fabric before they return to their homes. Setting up a chain of garment and textile shops that offers a variety of designs and styles of Egyptian fabric are sure to attract local and foreign tourists. Once you've established your business and your company is a household name you can export textile from a free zone taking advantage of the exemption on export duty.

Proper implementation of capital disbursement and utilization of resources is important to ensure that your business expands. Before you go about starting or setting up a business it is important that you are aware of the policies, and the operating licenses that need to be acquired. Whatever business you start or venture into make sure you adhere to the government policies. If you start a business in partnership make sure you choose your partner carefully. If you opt to borrow a loan you need to have proof of the assets you hold and an account in a recognized bank. The new regulations and policies introduced by the government have been designed to benefit small and large businesses.