Cairo’s business environment is changing. This is due to Egypt’s comprehensive economic reforms aimed at improving the business environment and attracting more foreign investors. Here’s why you should venture to Egypt’s capital.
Singapore has significant expertise in urban development and developing industrial zones, and Egypt is keen to leverage our strengths in this area.1
Egypt is developing a new capital city from scratch. Built on a site located 40 km east of Cairo, the city will feature a new presidential palace, a new parliament, a central bank and business district, an airport, and a massive theme park, alongside housing for 6.5 million people.2
The Egyptian government envisions the new capital to be a smart and sustainable city. If your area of expertise is in technology and green building design, you can offer related solutions, from smart lighting and green roofs that improve solar performance, to cascading vertical gardens and leafy walls.
1 “Egypt looking to attract more S'pore investors”, The Straits Times, 29 August 2017
2 “Egypt builds a new capital, a chance to design an inclusive city”, Channel NewsAsia, 26 September 2018
Cairo serves as an ideal launchpad for your business to the surrounding African region. In fact, Cairo was named the most attractive investment destination in Africa, ahead of Johannesburg.3
Egypt enjoys preferential access to regional markets. It is a member of various trade agreements, such as the Common Market for Eastern and Southern Africa (COMESA) and Pan-Arab Free Trade Agreement.
The African Continental Free Trade Area (AfCTA), an ambitious effort to create a unified African market from Cape Town to Cairo, is currently underway. AfCTA is set to be the biggest free trade agreement in terms of participating countries since the formation of the World Trade Organization.
These agreements facilitate opportunities for Singapore companies looking to export goods and services to the region, or those in the logistics and manufacturing sectors.
3 “The State of African Cities 2018: The geography of African investment”, United Nations, 2018