Doing business in egypt

Essay by ninsare November 2004

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Doing Business in Egypt

Egypt is a country rich in culture, with a trained and educated workforce. The government is receptive to investors and understands foreign investors' specific needs. Its policies have streamlined regulations and broadened access to a large and sophisticated consumer market. Egypt today can be a viable market for the foreign investor, especially the investor who has the ability to see the rewards of investing in the region for the long haul. The world and Egypt both realize that the region is the gateway to the Middle East. Egypt is leading the way for Arabic countries to embrace a new way of doing business and opening their borders to the 'global village' concept. Egypt's population lives mostly in the Nile valley and Delta. The Western Desert Highway and the Delta Road connect Egypt's two largest cities, Alexandria and Cairo.

Egypt is three times the size of New Mexico and is a desert climate with long dry, hot summers and short, moderate winters.

A rapidly growing population will continue to stress the resources. Egypt is the largest Arab county by population with 68 million people. Arabic is the common language with 94% of the population being Muslim and the other 6% being Coptic Christian. Islam is the state religion and the Egyptian Pound is the official currency.

The socio-cultural acceptance of a product in this region can be achieved if the company has a broad knowledge of the Islamic people. A businessperson must take the time to learn the culture, develop an appreciation for the Islamic faith and Egypt's long and rich culture.

The culture Egyptians prefer is close, personal relationships. In a conversation with friends and relatives, they will be close enough to smell the other's breath and will breathe on the other when speaking. It is...