Industry & Retail
From The Report: Egypt 2020
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Industry is front and centre of Egypt’s economic growth and diversification plans. The government aims to increase high-technology exports and boost the value of the manufacturing sector. To further enhance output and investment, Egypt continues to implement favourable policies, including the development of industrial zones and special economic zones. Although the sector will face challenges in the short term, a longer-term focus on infrastructure development is expected to soften the trend. Meanwhile, Egypt’s retail industry benefits from a growing population, affluent middle class and openness to new offerings. Although the pandemic is set to result in slower than anticipated growth in the short term, the government has taken steps to offset repercussions on the economy, such as raising online payment limits; increasing tax exemptions; and supporting informal workers. At the same time, customers are increasingly taking advantage of online retail options, which is likely to be a lasting trend in the post-Covid-19 world. This chapter contains interviews with Yehia Zaki, Chairman, Suez Canal Economic Zone; and Ahmed El Sewedy, President and CEO, Elsewedy Electric.