Egyptian chairman of the General Authority of Investment and Free Zones in Egypt has said as the trade between the two countries is expected to triple to $10 billion by 2010, investment of Chinese companies in Egypt can grow at a similar pace.According to a statement of the Egyptian Ministry of Commerce, in the first nine months of this year, the trade volume between the two stood at $3.33 billion.There are almost 300 Chinese investors in Egypt, with a total investment of $300 million. But most of them are private firms with smaller scales in low value-added industries like textiles and shoe making, and that Egypt now wants to attract big investors from hi-tech industries, Egyptian chairman of the General Authority of Investment and Free Zones added.These industries include infrastructure, logistics, electronics, communication and information technology, construction, textiles, car components and chemicals.Egypt has launched significant reforms to recharge its economy and attract foreign investors in the past years, while Chinese companies, anxious to enter the African market, also see Egypt as a key bridgehead.
Do your homework to understand the market
Before getting started, make sure you understand the basics about Egypt and local business regulations
I recommend: For a general background on Egypt, visit the official website of the
Government of Egypt or
Information Please. You can find more information about Egypt and its business legalities by contacting
your local Egypt consulate. The U.S. commercial service provides a comprehensive guide to doing business in
Egypt. To check the stock indexes in, visit the
Egypt Stock Exchange. It provides detailed financial information on publicly traded Ghanaian companies. Daily news from Egypt is available at
Egypt news
Identify, screen and pre-qualify high-potential business opportunities
Find potential business opportunities of interest.
I recommend: One can find potential investment areas by visiting the
Egypt Ministry of Trade. Do not respond to business opportunities that are solicited by email. A lot of
advanced fee fraud schemes, commonly known as 419, originate from countries in the West African region. If a business opportunity sounds too good to be true, then it might not be true. When contacted about a business opportunity in Egypt, more sure it's legitimate by contacting the
Egypt Embassy in your country,
Egypt's Ministry for Trade and Industry,
General Authority of Investment and Free Zonesas well as
Egypt Ministry of Investment.
Understand the economy and basic business ethics
Try to gather as much information about Egypt's economy and business ethics as you can.
I recommend: One can read more about the
economy of Egypt and its various business ethics. You can also choose to talk to another foreign investor in Egypt. American investor-owned business in Egypt are members of the
American Chamber of Commerce in Egypt.
Traveling to Egypt
Take away travel jitters and get first-hand information about traveling to Egypt.
I recommend: t is relatively easy to obtain a
business visa to Egypt or
apply onlineAll you need is an invitation letter from your business partners, a valid passport at least 6 months from expiring, and proof of a return ticket. Visa fees range between $25.00 and $140.00. It could take up to 5 days to obtain your visa. Visa fees can be paid by cash, cashier's check or money orders. Check with your consulate for other visa requirements.
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