Egypt

Egypt is most famous for its pyramids, sphinxes and its ancient culture. Egypt now has a central role in the political situation of the Middle East and North Africa.

Since thousands of years ago, Egypt was one of the first Middle Eastern countries, which opened its doors to the West after Napoleon's invasion.

The head of Cairo's Al-Azhar Mosque is one of the most authoritative symbols of Islam.

Teeming cities, as well as virtually all types of agriculture are concentrated along the banks of Nile (8-10% of the entire country). The rest of the country is mainly barren desert (90%).

The population of Egypt is more than 83 million people (July 2009).

Age categories of the population are as follows:
0 - 14 years old: 31,4% (13, 345 million people)
15 to 64 years - 63,8% (26.823 million people)
Over 64 years -4,8% (1 7 million people)

The capital city is Cairo and the official language is Arabic, but other languages commonly spoken are English, German and French. Russian is spoken as well, but mainly only in the resort areas. The coastline of the Mediterranean and the Red Sea is 2665 km. In Egypt, there are 25 Governorates (provinces) and one independent administrative unit - Luxor.

Egypt occupies the north eastern part of the African continent. For millennia, the Nile has given life to Egypt.

The Egyptian economy is actively developing, based on market strategies and long-term economic reforms. The Government has created a legislative framework to implement these plans. Investment opportunities here are some of the best in the world.

From 2006 to 2009, GDP grew by 7%. However, despite these achievements, the living standard of most Egyptians is low. There is a need for Social Security and substantial subsidies.

Tourists are attracted to Egypt by year round sunshine, a dry climate, the unique nature of the Red Sea; its marine life and the healing properties of sea-water. The Red Sea is one of the cleanest in the world.

Tourists from all over the world are interested in the monuments of ancient Egypt, primarily located in museums and open areas in Cairo, Giza, Luxor, Alexandria, Memphis, Abu Simbel and other cities in Egypt.

In recent years, many tourists have become interested in studying historic Egyptian monuments. They are also visiting oases, located in one of the greatest deserts in the world - the Eastern part of the Libyan desert. To the surprise of tourists, paradoxically, they find life flourishing in oases that are surrounded by endless sands. They can also find evidence of old civilizations, in the form of monuments, pyramids and temples.

The main centres of international tourism in Egypt: are Hurghada, Sharm El Sheikh, Marsa Alam, Cairo, Alexandria and Luxor.

The Red Sea is one of the most popular international centres for diving. This is largely thanks to Jacques Cousteau, who through his expeditions and movies raised interest in the stunningly beautiful underwater world of the Red Sea.

Since 2006, Egypt has started to be a leader among African countries, in relation to the generation of direct foreign investment for the economy of Egypt.

This is not a coincidence. Legislative and executive authorities are ensuring that the state laws '№ 230/1989' and '№ 8 /1997 on investment promotion and guarantees for investors' are being adhered to.

For companies '№ 3of 1998' and further amendements and clarifications, attract foreign investment to Egypt on both corporate and private levels.

The main components of the investment advantages of Egypt are:

1 - Macro-economic stability and sustained economic growth.
2 - Cheap labour.
3 - A large consumer market.
4 - A well developed infrastructure.
5 - Competitive tax rates.
6 - Egypt has preferential access to key global markets.
7 - Geographical proximity to global consumer markets.
8 - A diversified economy.
9- - Political stability and personal security.

Thanks largely to foreign investment and despite global economic and financial upheavals, Egypt is actively developing industry, agriculture and the construction industry.

Many foreign nationals, due to Egyptian law have bought and are actively buying properties in the resort centres of this country - especially in Hurghada, Sharm El Sheikh and Marsa Alam.

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