SUEZ CANAL ECONOMIC ZONE Egypt as a world-class economic and trade - - PowerPoint PPT Presentation

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SUEZ CANAL ECONOMIC ZONE Egypt as a world-class economic and trade - - PowerPoint PPT Presentation

Nov 01, 2022 409 likes •528 views

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

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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

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Consulate General of Egypt Commercial Office Milan

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Egypt At A Glance

Semi-presidential Republic under Abdel Fattah Al-Sisi 5th Largest Country in the Middle East and 29th Worldwide 1st most populous Country in the Middle East and 14th Worldwide, with 93 Million inhabitants (2017) Strategically located as a crossroad between Africa, Europe and Asia

Consulate General of Egypt - Commercial Office Milan

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1,6% 3,4% 5,1% 5,6% 5,0% 3,3% 3,3% 5,1% 4,1% 3,6% 4,5% 3,4% 1st 2014 2nd 2014 3rd 2014 4th 2014 1st 2015 2nd 2015 3rd 2015 4th 2015 1st 2016 2nd 2016 3rd 2016 4th 2016

Quarter Growth

236,0 276,4 286,0 301,5 330,8 2011 2012 2013 2014 2015

GDP in US$, billions

Macroeconomic Overview

Real GDP Real GDP Growth

Consulate General of Egypt - Commercial Office Milan

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Macroeconomic Overview

Foreign Reserves

15,6 16,6 19,6 19,1 23,1 24,3 26,4 26,6 28,5 28,6 31,1

5000 10000 15000 20000 25000 30000 35000

Net International Reserves, Bn US$

Unemployment

13,4% 13,4% 13,4% 13,3% 13,1% 12,9% 12,8% 12,7% 12,8% 12,8% 12,6% 12,4% 1st 2014 2nd 2014 3rd 2014 4th 2014 1st 2015 2nd 2015 3rd 2015 4th 2015 1st 2016 2nd 2016 3rd 2016 4th 2016

Unemployment Rate

Consulate General of Egypt - Commercial Office Milan

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Policy developments

Main Policy Pillars

Tax Policy and Revenue Reforms Public spending priorities and reform measures Monetary Policy Public Debt Management and financing strategy

Policy Achievements

Implementing new VAT law Adjusting energy prices Partial lifting of subsidies on petroleum products Floating the Egyptian pound Issuing of the New Investment Law

Consulate General of Egypt - Commercial Office Milan

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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 km², 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

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Strengths, opportunities and incentives

Incentives

  • 100% foreign ownership of

companies

  • 22,5% corporate tax
  • No VAT
  • No customs on value add on

imports to Egypt

  • Free zone

Opportunities

  • Business-friendly process for

investors

  • Accelerated licenses registration,

visa services and permits related to land, labor and building

  • New Suez Canal Project
  • Italian Industrial Park Project

Strengths

  • Established and developing

infrastructure

  • Strategically located on the

main trade route between Europe and Asia

  • 68 FTAs implemented
  • Local market of 92mln people

Consulate General of Egypt - Commercial Office Milan

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Sectors and Locations Integrated Areas:

Ain Sokhna City and Port East Port Said City and Port

Development Areas:

Qantara West East Ismailia

Port Areas:

West Port Said Port Adabiya Port Al Tor Port Al Arish Port

Real Estate Maritime Industrial Energy Agribusiness Retail Logistics ICT

Consulate General of Egypt - Commercial Office Milan

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General Plan Overview

Consulate General of Egypt - Commercial Office Milan

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New Suez Canal Project

The project

Construction of a new canal parallel to the old one; deepening/widening

  • f current by-passes in Great Bitter

Lakes and Ballah Total length of the project is 72km Work started in 2014 and completed in 2015

The aim

Reduce waiting time from 11 hours to 3 hours Increase canal capacity from 49 to 97 ships per day by 2023 Increase canal revenues from 5,3 bn US$ to 13,2 bn US$ by 2023

Consulate General of Egypt - Commercial Office Milan

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For any information please contact us Consulate General of Egypt Commercial Office Milano

milano@egyptcom.it , milano@ecs.gov.eg