After several years of uncertainty, Egypt’s economy is picking up momentum in key segments, with international linkages – in terms of transport, trade and telecoms – major beneficiaries of government support and private investment.
- Transport: Expanding Canal Capacity – The most visible evidence of a renewed focus on infrastructure is the expansion of the Suez Canal, a project that was completed in record time and was almost entirely financed by the local market.
- Industry: Prioritising Trade – The Ministry of Planning aims to increase overall economic growth to 7% per annum, with exports set to contribute 25% to this growth.
- Connectivity: Getting Online – Plans to offer 4G spectrum in 2016, part of a broader plan to increase internet penetration, should continue to lead to increases in internet and data usage.
- Insurance: Room To Grow – Insurance premiums have been on the up in the last five years, despite an estimated penetration rate of 1.2% and insurance density of just $22.30 per person.
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