Egypt has always played a vital role in the shaping of the region, and trades freely with both neighboring countries, and the rest of the world. Now, as the country witnesses prosperity and stability, new legislation is being introduced to promote economic development and continue to harvest investment opportunities within the country.
Under the rule of President Abdel Fatah El Sisi, the country is now home to many of the world's most innovative businesses, who have benefited from the vast potential Egypt has to offer. Over the last few years, a number of reforms have been introduced in an effort to support the government's plan to promote said opportunities, the most note worthy of which is the introduction of the New Investment Law No. 72 of 2017. In 2018, this initiative continued to expand as more legislation was promulgated to facilitate and modernize doing business in Egypt.
As a result of these changes, the country's economy has witnessed a 6 per cent increase in the first quarter of 2019 alone. Expansions in gas extractives continue to make Egypt a major gas exporter, and this, coupled with the stabilization of the tourism sector and a boom in the manufacturing and ICT sectors, continues to reaffirm Egypt's position as an attractive emerging market.
To further enable these developments, the country itself has undergone significant restructuring, mainly focused at decongesting the capital. Roads and tunnels are being built to facilitate travel, transportation systems are being upgraded, and the new capital will soon open its doors accommodate the country's growing population.
With these changes in mind, we have written this book to summarize the most recent commercial legislative changes, as well as to highlight the mega projects which were successfully concluded in 2018. Finally, this book takes a look at the existing opportunities and the sectors which are on the rise within the country.
As our country continues to develop, it becomes all the more important to communicate the myriad changes that our government is making to support these developments regularly, particularly to those who are not familiar with our systems of governance.
I would like to thank the Ministry of Investment and GAFI for providing us with the information needed to create this book, and for supporting us throughout this process. and I would like to thank our firm's team who have spent countless hours researching this book - without each of your individual contributions, we would not have been able to create such a concise and informative publication.
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