ABCC Economic Focus 25.01

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In Memory of Terry Stone

Terence John Stone FCA OBE (1937 - 2025)

It is with great sadness that the Arab British Chamber of Commerce announces the passing of Mr Terence John Stone FCA OBE on 26th February 2025, at the age of 87.

Terence, or Terry, as he was widely known, was a valued and highly respected member of the Chamber, having dedicated over two decades of service to the organization. He first joined the Arab British Chamber of Commerce in November 2001, when he was appointed to the Board of Directors, where his insight and leadership were instrumental in shaping the direction of the Chamber.

In 2005, Terry was appointed Chairman of the Audit Committee, an important role in which he applied his financial expertise and commitment to ensuring the integrity and transparency of the Chamber’s operations.

In 2008, Terry took on the important responsibility of Chairman of the Pension Scheme, where his strategic oversight and deep understanding of financial matters played a crucial role in the management and development of the scheme. Throughout his tenure, Terry’s guidance and unwavering professionalism were deeply valued, and his contributions have left a lasting impact on the Chamber and its members.

Beyond his roles within the Chamber, Terry was widely respected for his integrity, dedication, and for the positive relationships he built throughout his career. He was a key figure whose leadership, foresight, and commitment were pivotal to the success and development of the Arab British Chamber of Commerce as it stands today.

He leaves a wife, Hazel, and three children, Liz, Christine and David, as well as grandchildren, Martin and Ruth. Our thoughts are with them and all the Stone family during this difficult time. Terry Stone’s legacy will continue to inspire those who had the privilege of working with him.

Ambassadorial Roundtable on Investment Opportunities in Tunisia

Wednesday, February 19, 2025

An ambassadorial roundtable on Investment Opportunities in Tunisia was hosted by the ABCC on 19 February in the Boardroom at the Chamber’s Mayfair premises.

The audience consisted of potential investors and business executives from various sectors of industry and was organised exclusively for members of the ABCC.

His Excellency Mr Yassine El Oued, the Ambassador of the Republic of Tunisia to the UK, and his entourage were greeted and welcomed to the Chamber by Mr Bandar Reda, ABCC Secretary General & CEO and Mr Abdeslam El-Idrissi, ABCC Deputy CEO & Secretary General.

The roundtable was held in close cooperation with the Embassy of Tunisia in London and assisted by FIPA, the Tunisian foreign investment promotion agency, which had prepared a detailed presentation.

Mr Reda opened the discussion by introducing the Ambassador whom he warmly thanked for his participation in the event which would enable ABCC members to learn about Tunisia and gain valuable insights into the latest investment opportunities in the country.

In his opening remarks, His Excellency paid tribute to the work of the Chamber and expressed his confidence that the meeting would not only strengthen collaboration between the UK and his country but would also help unlock new opportunities for growth, innovation and prosperity.

The Ambassador went on to stress the importance of British involvement in the Tunisian economy, in particular the energy sector where British Gas was one of the largest foreign investors >>>

His Excellency Mr Yassine El Oued, the Tunisian Ambassador and Mr Bandar Reda, ABCC Secretary General & CEO

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with substantial investment in Tunisian energy infrastructure.

The energy sector was not the only area where UK companies were actively involved, His Excellency insisted, citing sectors such as automotives, engine components, textiles and information technology where UK firms were making positive contributions.

The Ambassador continued by elucidating the ambitious reform programme that Tunisia had been enacting in recent years, including incentives which were designed to attract more foreign investment and stimulate growth through partnerships between the public and private sectors.

Mention was made of the significant assets that Tunisia possessed, for example, its robust infrastructure and a skilled workforce that was one of the most well educated in the region.

In concluding, His Excellency Mr Yassine El Oued looked forward to the UK and Tunisia working closer together to build a brighter future based on innovation, collaboration and shared prosperity.

He invited British investors and entrepreneurs to visit the country where they could meet with their Tunisian counterparts to explore the opportunities.

Following the Ambassador’s

encouraging opening remarks, a more detailed presentation was delivered by Mr Zied Braham, Director of FIPA in London, who provided a detailed description of the country’s investment landscape.

The FIPA director began by outlining the flows of FDI over the past few years and explained that over 4,000 global companies were currently active in the local economy, contributing some 467 thousand jobs.

He said that almost 75% of these foreign companies were involved in wholly exporting.

In summary, Mr Braham highlighted key attractions of Tunisia, such as the following:

Mr Bandar Reda, ABCC Secretary General & CEO

Major opportunities in different sectors such as,

Aeronautics

Tunisia was the first country in the Maghreb to launch a 100% local satellite. It is the first in Africa in terms of graduates in scientific and engineering subjects. Tunisia’s legislation guarantees the security of investor’s assets and ensures robust protection of intellectual property rights which is especially vital in this innovative sector.

Digital

Tunisia is emerging as a major player in the field of digital, offering fertile ground for innovative companies. Tunisia boasts it is second in the number of graduates from scientific and engineering fields worldwide; second in government maturity In Artificial Intelligence across Africa; and offers the best startup attraction programme In Africa.

Automotives

Thanks to its geographical proximity to Europe, its mastery of “Just in time” methods, Tunisia is considered as a destination of choice for global equipment manufacturers, particularly favourable to added value, competitiveness and export driven production. In this context, the country boasts a booming automotive industry.

Agri-food

The Tunisian agri-food industry is distinguished by quality production through innovation and meeting international standards. The signs of quality and origin guarantee the excellence of the products, while the presence of a Tunisian Eco label reinforces environmental standards. Tunisia is promoting organic farming and has become an exporter of organic olive oil to the EU markets.

Textiles

The textile and clothing industry benefits from a set of financial and tax incentives in Tunisia, strengthening its

attractiveness for investors. The industry flourishes through renowned clusters and institutions. The sector offers a highly qualified professional workforce trained in advanced techniques. Textiles is an industry deeply rooted in Tunisian expertise and tradition.

Pharmaceuticals

Tunisia exports medicines to 35 countries around the world and these have tripled in five years. Supported by highly skilled human capital, the sector actively contributes to the economy and overall health. The legislative and regulatory environment offers considerable advantages for investors in pharmaceuticals given the advantages of Tunisia’s reputation as a renowned health destination and healthcare sector that offers cutting-edge solutions in areas such as research, medical technology and alternative therapy.

Key attractions – as outlined by FIPA

The country acts as a strategic hub

Located at the crossroads of three major regional markets, Tunisia offers a favourable geographical position that facilitates exchanges with Europe, Africa and the Middle East.

As a strategic hub, Tunisia offers an ideal platform for export with free trade agreements with bordering markets.

It is economically diversified

The dynamic Tunisian economy offers a variety of opportunities for investors worldwide. Tunisia is an open country with 1,148 kilometres (713 miles) long Mediterranean coastline which is an asset for tourism and trade. Industry, agriculture, and tourism form the basis of a balanced diverse economy accompanied by a growing services sector.

Boasts a highly skilled workforce

Tunisia is distinguished by its highly qualified workforce, trained in various fields from engineers to healthcare professionals. There is a pool of skills

ready to contribute to the success of businesses that chose to invest and locate.

World-class infrastructure including enhanced connectivity

With its modern infrastructure, wellequipped ports and direct air links with main European cities, Tunisia ensures optimal connectivity for global supply chains. The strategic advantages of Tunisia’s geographical location facilitate diversified and fast commercial flows. Various opportunities are available in technology, agri-food, automotives and others.

A business-friendly environment that welcomes investors

Tunisia stands committed to offering favourable conditions including regulations to foreign investors. From tax and financial incentives to simplified procedures, Tunisia facilitates the integration of investors into its entrepreneurial ecosystem. Investment incentives are accessible through one-stop services with transparency of decision making.

Attractive lifestyle and culture

Tunisia offers an exceptional living environment, conducive to personal and professional development. Hospitality and conviviality are ancestral values of Tunisia and its people, welcoming cultural exchanges. Tunisia offers an international education system with high quality schooling and quality medical services for expatriates.

Once Mr Braham had completed his wide ranging presentation, Mr Reda opened up the discussion by inviting contributions from those gathered around the table. Great interest was expressed in the various opportunities that had been outlined by the Ambassador and the FIPA Director, who expressed their readiness to assist any company seeking to explore the potential that Tunisia was able to offer across the many sectors.

ABCC Members Explore New Opportunities at First Networking Event of 2025

Members of the ABCC from varied industries explored new opportunities and shared their success stories at the first Members’ Networking event of 2025 which the Chamber hosted at its Mayfair premises on 24th February.

Places for the highly successful event were entirely sold out and it saw members mingling with non-members alongside diplomats in the full capacity auditorium.

In his welcoming remarks Mr Bandar Reda, ABCC Secretary General & CEO, expressed his pleasure at seeing so many attendees and stressed the Chamber’s strong commitment to serving its members in their efforts to grasp the growing business and investment opportunities

arising from closer Arab British collaboration.

Chairing the event, Mr Abdeslam ElIdrissi, ABCC Deputy CEO & Secretary General, reinforced Mr Reda’s remarks by highlighting that this year 2025 marks the Chamber’s fiftieth anniversary of service to business. He mentioned some of the most recent and upcoming events, including a roundtable with the Tunisian Ambassador, the Wimena summits on women’s sports in Saudi Arabia and the forthcoming Arab British Economic Summit (ABES2025) due

to be held in June, and not forgetting as well the celebration of the Chamber’s 50th anniversary when a gala dinner would be held.

Mr El-Idrissi invited executives in the audience from non-member companies to join the ABCC and explained how the organisation’s various services exist to help business achieve success. The Chamber, he said, had long played a strategic role in helping UK businesses to grasp the different opportunities that existed in all the Arab countries.

Ms Jessica Lumley, Director, Sovereign Advisory, Albertson Solicitors
Ms Michelle Guile, Business Development Manager UK, Recovery Advisers Ltd, with Mr El-Idrissi
Ms Glynnis Murray, Managing Director, One Lux Ltd
Mr Bandar Reda
Mr Abdeslam El-Idrissi
Mr Pierre Saunal, Co-founder, Airc.Digital
Ian Bond, Senior Associate, Interpolitan Money
Mr Bryan Erazo, Business Development Manager, TUV Rheinland

A video was shown of the last edition of ABES which served as a reminder to people what to expect from the forthcoming ABES2025. The summit provides great opportunities for companies to promote themselves, interact with powerful delegations from around the Arab world and to build new contacts.

Ms Rita Massoud, ABCC HR and Events Manager, drew everyone’s attention to a special members’ offer that enables them to upgrade to “gold” membership and by doing so take advantage of a complimentary exhibition space at ABES2025.

The speakers from member companies delivering presentations described how membership of the ABCC had helped their businesses to grow by opening up new avenues through developing new contacts and showcasing their companies to the ABCC network.

The eight members making their pitches were Airc.Digital, Recovery Advisers, One-LUX Ltd, TUV Rheinland, Interpolitan Money, Albertson Solicitors, London International Shipping Week and Handshaikh.

Pierre Saunal, Co-founder, Airc.Digital, an AI based architectural software developer started four years ago, gave some examples of where the firm had worked successfully with clients in Saudi Arabia, Morocco and South Africa, on data management and 3D modelling solutions.

Mr Saunal thanked the ABCC for its valuable support and recommended others join the Chamber. He stated that membership had boosted the company’s presence in the Arab markets by giving it exposure and also said that he had met business partners through attending events hosted by the ABCC.

Michelle Guile, Business Development Manager UK, Recovery Advisers Ltd, described the trade advisory services

Ms Marwa Ismail, Head of Export, One Lux, with colleague Ms Murray

offered by her company, with the emphasis on debt recovery services.

She said the company had 14 offices worldwide including one in Dubai and that the MENA region was a key area where its expertise could assist UK firms with remedies for such major challenges as payment delays and dispute resolution.

Ian Bond, Senior Associate, Interpolitan Money, told delegates that his financial services company was an expert in delivering alternative banking solutions to clients globally.

The company provided a tailor-made personal service for all its clients, offering bank accounts and risk management solutions for private, corporate and nonresident customers alike.

Jessica Lumley, Director, Sovereign Advisory, Albertson Solicitors, described her company’s expertise in international law and dispute advisory services for clients worldwide including in the MENA region.

She stressed that the presence of Albertson staff at various ABCC events in recent years had enabled the firm to grow its client base. Ms Lumley pointed to the rapid evolution of the legal systems across the Arab world in the last ten years as the economies had continued to grow. Alongside the obvious expansion of opportunities, business risks remain, and solutions were vital.

Glynnis Murray, Managing Director, One Lux Ltd, introduced her company’s specialist emergency lighting solutions which have been manufactured within the UK since 2008.

She believed that there was a growing demand for such lighting products in the Arab region with its fast growing infrastructure of major public buildings such as sport stadiums and entertainment

venues. The lighting solutions could be customised to meet the unique needs of each client. Ms Murray was optimistic about the opportunities.

Bryan Erazo, Business Development Manager, TUV Rheinland, described the company’s various inspection services that are designed to ensure safety and compliance for international traders. The company had been serving global exporters for more than 150 years and now had some 500 offices worldwide, he said.

Mr Erazo stressed how safety was key to successful trading and for maintaining the quality of products, and how important it was that companies ensured that their products and processes were all fully compliant with key regulations.

Andy Snell, Commercial & Operations Director, London International Shipping Week, introduced this major business event held in London every two years and which focuses on the capital as a global centre for shipping.

He said that during the week of the international conference in September there would be hundreds of other smaller events, workshops, receptions and seminars, hosted at leading venues such as embassies, where business executives could network and meet potential clients. Many leading Gulf and other Arab countries would be sending delegations to these events and he urged ABCC members to become involved.

The final speaker, Jeremy Williams OBE, MD, Handshaikh, a UK based business training company, was offering its expertise in cross-cultural communications for executives involved with clients in the Arab world, with a special concentration on raising awareness of prevailing customs in the Gulf.

Handshaikh’s services would be especially useful for UK firms seeking to enter the Gulf markets or about to do business with Arab clients for the first time, stated Mr Williams, who had written a book that contains numerous useful tips to raise awareness, titled, Don’t they Know it’s Friday. The popular guide has gone through several reprints and had recently been updated.

The members’ presentations concluded with a lively networking reception into the evening where members and guests could exchange ideas over drinks and refreshments in the relaxed informal gathering.

Mr Jeremy Williams OBE, MD, Handshaikh (left), with Ms Guile and Mr Reda.

ABCC hosts senior Bermuda delegation for top level talks

The ABCC was delighted to host a top level delegation from the Government of Bermuda headed by its Premier and Minister of Finance, Hon David Burt JP MP, who was received at our Mayfair premises by Mr Abdeslam El-Idrissi, ABCC Deputy CEO & Secretary General.

Their highly productive and wide ranging discussions held on 14 April 2025 explored collaboration between Bermuda and the Chamber as the island seeks to develop its closer involvement in the Arab world and with the GCC countries in particular. As affirmed by Mr El-Idrissi, the ABCC expressed staunch support for Bermuda’s ambitions and viewed to prospects opening up for a closer partnership with the Gulf as incredibly positive, especially in the financial services sector where there are significant market opportunities and where Bermuda has a wealth of expertise.

The Bermudan Premier indicated his government’s intention to take a trade mission to the Gulf which the ABCC was keen to support.

Premier Burt expressed a determination to enhance Bermuda’s engagement with the Middle East in key areas relating to investment and in general economic development.

Bermuda’s strong financial services sector including its insurance industry has enabled it to increase its ties with the MENA in recent years especially in the rapidly evolving high tech industries such as AI, blockchain and the space economy, which are all growing in the Gulf.

By leveraging its renowned financial and insurance products, Bermuda hopes to deepen its partnership in these emerging, high-growth industries currently flourishing across the GCC.

The talks at the ABCC highlighted many new opportunities in the Gulf countries which are now dynamic global finance hubs thanks to the adoption of forward-thinking regulations for fintech, cryptocurrencies and blockchain.

The positive discussions at the Chamber identified the immense potential for closer partnership and collaboration with Bermuda to realise its ambitious future plans.

Mr Karim Fatehi MBE, CEO of London Chamber of Commerce, joined the meeting for the talks.

On his official visit Bermuda’s Premier was accompanied by top aides including Mr Chid Ofoego, the island’s Financial Secretary and Ms Kimberley Durrant, UK Representative of Bermuda.

The Hon David Burt, JP MP, Bermuda’s PM, (centre), with Mr Abdeslam El-Idrissi, ABCC Deputy CEO & Secretary General and Mr Karim Fatehi, MBE, CEO, London Chamber of Commerce.

ABCC Membership

ABCC New Members

The ABCC welcomes its new members and looks forward to working with them in the coming year.

Trademark Group of Companies

SGS & Partners Ltd - GOLD

Septimus Security

WellTax Limited

3s Money Club Limited

CBD Corporate Services –PLATINUM

Kent Foods Ltd

Post Op

Acme Energy Services Ltd

Goodwill Caravan

Harley Street Practice Limited

UAVdex

Value Retail Management (Bicester Village) Ltd

Kofman Partners

Graff Diamonds Ltd

One Lux Ltd

IFZA - GOLD

Handshaikh

Macber

GLINT

Caviar Data

Gatehouse Corporate Services Providers LLC

Phi3d Cosmetics

Harley City Clinic Limited - GOLD

Recovery Advisers

Novo Electric Technology UK Ltd

Riyad Bank

Cleveland Clinic London

Right Brain Thinking International - PLATINUM

SAS Consultancy Chartered Accountants

100Jordan

Hubl Logistics

Anzen Innovations Ltd

Improved Energy Ltd

PRG Scotland Ltd

West World Group

HutanBio

Enertechnos Limited

Envoy Global United Kingdom Ltd

Pioneers Consulting Limited

KonnectNow

Abbotsway Engineering Ltd

BDM Partners

Latest Data on UK-Arab Trade and Investment

Latest official data on bilateral trade and investment flows between the UK and each of the Arab countries.

Algeria

Total trade in goods and services (exports plus imports) between the UK and Algeria was £2.4 billion in the four quarters to the end of Q3 2024, a decrease of 5.0% or £125 million in current prices from the four quarters to the end of Q3 2023.

Of this £2.4 billion:

• Total UK exports to Algeria amounted to £673 million in the four quarters to the end of Q3 2024 (an increase of 3.9% or £25 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Algeria amounted to £1.7 billion in the four quarters to the end of Q3 2024 (a decrease of 8.2% or £150 million in current prices, compared to the four quarters to the end of Q3 2023).

Algeria was the UK’s 63rd largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.1% of total UK trade. In 2023, the outward stock of foreign direct investment (FDI) from the UK in Algeria was £146 million.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Algeria was £3 million, 48.6% or £3 million lower than in 2022. In 2023, Algeria accounted for less than 0.1% of the total UK inward FDI stock.

Bahrain

Total trade in goods and services (exports plus imports) between the UK and Bahrain was £916 million in the four quarters to the end of Q3 2024, a decrease of 12.2% or £127 million in current prices from the four quarters to the end of Q3 2023.

Of this £916 million:

• Total UK exports to Bahrain amounted to £676 million in the four quarters to the end of Q3 2024 (an increase of 5.3% or £34 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Bahrain amounted to £240 million in the four quarters to the end of Q3 2024 (a

decrease of 40.1% or £161 million in current prices, compared to the four quarters to the end of Q3 2023).

Bahrain was the UK’s 91st largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Bahrain was £69 million, 16.1% or £10 million higher than in 2022.

In 2023, Bahrain accounted for less than 0.1% of the total UK outward FDI stock.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Bahrain was £54 million.

Comoros

Total trade in goods and services (exports plus imports) between the UK and Comoros was less than £1 million in the four quarters to the end of Q3 2024, a change of less than £1 million in current prices from the four quarters to the end of Q3 2023.

Of this less than £1 million:

• Total UK exports to Comoros amounted to less than £1 million in the four quarters to the end of Q3 2024 (a change of less than £1 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Comoros amounted to less than £1 million in the four quarters to the end of Q3 2024 (a change of less than £1 million in current prices, compared to the four quarters to the end of Q3 2023).

Comoros was the UK’s joint 229th largest trading partner in the four quarters to the end of Q3 2024 accounting for less than 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Comoros was less than £500 thousand. In 2023, the inward stock of foreign direct investment (FDI) in the UK from Comoros was £4 million, 84.9% or £2 million higher than in 2022.

In 2023, Comoros accounted for less than 0.1% of the total UK inward FDI stock.

Total trade in goods and services (exports plus imports) between the UK and Djibouti was £35 million in the four quarters to the end of Q3 2024, a decrease of 31.4% or £16 million in current prices from the four quarters to the end of Q3 2023.

Of this £35 million:

• Total UK exports to Djibouti amounted to £25 million in the four quarters to the end of Q3 2024 (a decrease of 24.2% or £8 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Djibouti amounted to £10 million in the four quarters to the end of Q3 2024 (a decrease of 44.4% or £8 million in current prices, compared to the four quarters to the end of Q3 2023).

Djibouti was the UK’s 179th largest trading partner in the four quarters to the end of Q3 2024 accounting for less than 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Djibouti are not available due to data disclosure. In 2023, the inward stock of foreign direct investment (FDI) in the UK from Djibouti was £929 million, 11.0% or £92 million higher than in 2022.

In 2023, Djibouti accounted for less than 0.1% of the total UK inward FDI stock.

Egypt

Total trade in goods and services (exports plus imports) between the UK and Egypt was £4.7 billion in the four quarters to the end of Q3 2024, an increase of 2.6% or £118 million in current prices from the four quarters to the end of Q3 2023.

Of this £4.7 billion:

• Total UK exports to Egypt amounted to £2.7 billion in the four quarters to the end of Q3 2024 (an increase of 6.6% or £169 million in current prices, compared to the four quarters to the end of Q3 2023);

Djibouti

Trade & Investment

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• Total UK imports from Egypt amounted to £2.0 billion in the four quarters to the end of Q3 2024 (a decrease of 2.5% or £51 million in current prices, compared to the four quarters to the end of Q3 2023).

Egypt was the UK’s 48th largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.3% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Egypt are not available due to data disclosure. In 2023, the inward stock of foreign direct investment (FDI) in the UK from Egypt was £621 million, 2055.6% or £593 million higher than in 2022.

In 2023, Egypt accounted for less than 0.1% of the total UK inward FDI stock.

Iraq

Total trade in goods and services (exports plus imports) between the UK and Iraq was £1.3 billion in the four quarters to the end of Q3 2024, an increase of 17.5% or £189 million in current prices from the four quarters to the end of Q3 2023.

Of this £1.3 billion:

• Total UK exports to Iraq amounted to £1.0 billion in the four quarters to the end of Q3 2024 (an increase of 22.5% or £188 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Iraq amounted to £247 million in the four quarters to the end of Q3 2024 (an increase of 0.4% or £1 million in current prices, compared to the four quarters to the end of Q3 2023).

Iraq was the UK’s 85th largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Iraq are not available due to data disclosure.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Iraq are not available due to data disclosure.

Jordan

This factsheet provides the latest statistics on trade and investment between the UK and Jordan. Date of release: 21 February 2025; Date of next planned release: 7 April

2025 Total trade in goods and services (exports plus imports) between the UK and Jordan was £1.3 billion in the four quarters to the end of Q3 2024, an increase of 17.1% or £194 million in current prices from the four quarters to the end of Q3 2023.

Of this £1.3 billion:

• Total UK exports to Jordan amounted

to £1.0 billion in the four quarters to the end of Q3 2024 (an increase of 21.8% or £182 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Jordan amounted to £308 million in the four quarters to the end of Q3 2024 (an increase of 4.1% or £12 million in current prices, compared to the four quarters to the end of Q3 2023).

Jordan was the UK’s 83rd largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Jordan was £6.4 billion accounting for 0.3% of the total UK outward FDI stock. In 2023, the inward stock of foreign direct investment (FDI) in the UK from Jordan was £959 million, 12.6% or £108 million higher than in 2022.

In 2023, Jordan accounted for less than 0.1% of the total UK inward FDI stock.

Kuwait

Total trade in goods and services (exports plus imports) between the UK and Kuwait was £6.2 billion in the four quarters to the end of Q3 2024, an increase of 25.9% or £1.3 billion in current prices from the four quarters to the end of Q3 2023.

Of this £6.2 billion:

• Total UK exports to Kuwait amounted to £2.0 billion in the four quarters to the end of Q3 2024 (a decrease of 1.9% or £39 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Kuwait amounted to £4.2 billion in the four quarters to the end of Q3 2024 (an increase of 46.0% or £1.3 billion in current prices, compared to the four quarters to the end of Q3 2023).

Kuwait was the UK’s 40th largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.4% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Kuwait was £-34 million, £7 million lower than in 2022. In 2023, Kuwait accounted for less than 0.1% of the total UK outward FDI stock.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Kuwait was £262 million, 334.2% or £202 million higher than in 2022.

In 2023, Kuwait accounted for less than 0.1% of the total UK inward FDI stock.

Lebanon

2025 Total trade in goods and services (exports plus imports) between the UK and Lebanon was £707 million in the

four quarters to the end of Q3 2024, an increase of 2.8% or £19 million in current prices from the four quarters to the end of Q3 2023.

Of this £707 million:

• Total UK exports to Lebanon amounted to £535 million in the four quarters to the end of Q3 2024 (a decrease of 1.7% or £9 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Lebanon amounted to £172 million in the four quarters to the end of Q3 2024 (an increase of 19.4% or £28 million in current prices, compared to the four quarters to the end of Q3 2023).

Lebanon was the UK’s 96th largest trading partner in the four quarters to the end of Q3 2024 accounting for less than 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Lebanon was £75 million, 29.2% or £17 million higher than in 2022. In 2023, Lebanon accounted for less than 0.1% of the total UK outward FDI stock.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Lebanon was £63 million, 12.6% or £9 million lower than in 2022.

In 2023, Lebanon accounted for less than 0.1% of the total UK inward FDI stock.

Libya

Total trade in goods and services (exports plus imports) between the UK and Libya was £2.5 billion in the four quarters to the end of Q3 2024, an increase of 61.7% or £941 million in current prices from the four quarters to the end of Q3 2023.

Of this £2.5 billion:

• Total UK exports to Libya amounted to £241 million in the four quarters to the end of Q3 2024 (a decrease of 14.5% or £41 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Libya amounted to £2.2 billion in the four quarters to the end of Q3 2024 (an increase of 79.0% or £982 million in current prices, compared to the four quarters to the end of Q3 2023).

Libya was the UK’s 62nd largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Libya are not available due to data disclosure. In 2023, the inward stock of foreign direct investment (FDI) in the UK from Libya was £10 million, 28.3% or £4 million lower than in 2022.

In 2023, Libya accounted for less than 0.1% of the total UK inward FDI stock.

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Mauritania

Morocco

Total trade in goods and services (exports plus imports) between the UK and Mauritania was £127 million in the four quarters to the end of Q3 2024, an increase of 5.8% or £7 million in current prices from the four quarters to the end of Q3 2023.

Of this £127 million:

• Total UK exports to Mauritania amounted to £92 million in the four quarters to the end of Q3 2024 (an increase of 5.7% or £5 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Mauritania amounted to £35 million in the four quarters to the end of Q3 2024 (an increase of 6.1% or £2 million in current prices, compared to the four quarters to the end of Q3 2023).

Mauritania was the UK’s 142nd largest trading partner in the four quarters to the end of Q3 2024 accounting for less than 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Mauritania are not available due to data disclosure.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Mauritania was £1 million, 67.6% or £2 million lower than in 2022.

In 2023, Mauritania accounted for less than 0.1% of the total UK inward FDI stock.

Total trade in goods and services (exports plus imports) between the UK and Morocco was £3.8 billion in the four quarters to the end of Q3 2024, an increase of 7.7% or £274 million in current prices from the four quarters to the end of Q3 2023.

Of this £3.8 billion:

• Total UK exports to Morocco amounted to £1.4 billion in the four quarters to the end of Q3 2024 (a decrease of 4.1% or £59 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Morocco amounted to £2.4 billion in the four quarters to the end of Q3 2024 (an increase of 15.8% or £333 million in current prices, compared to the four quarters to the end of Q3 2023).

Morocco was the UK’s joint 51st largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.2% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Morocco are not available due to data disclosure.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Morocco was £17 million, 2.6% or £426.2 thousand higher than in 2022.

In 2023, Morocco accounted for less than 0.1% of the total UK inward FDI stock.

Oman

Total trade in goods and services (exports plus imports) between the UK and Oman was £1.5 billion in the four quarters to the end of Q3 2024, an increase of 1.4% or £20 million in current prices from the four quarters to the end of Q3 2023.

Of this £1.5 billion:

• Total UK exports to Oman amounted to £1.1 billion in the four quarters to the end of Q3 2024 (a decrease of 2.6% or £30 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Oman amounted to £383 million in the four quarters to the end of Q3 2024 (an increase of 15.0% or £50 million in current prices, compared to the four quarters to the end of Q3 2023).

Oman was the UK’s 78th largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Oman are not available due to data disclosure.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Oman was £142 million, 113.1% or £75 million higher than in 2022.

In 2023, Oman accounted for less than 0.1% of the total UK inward FDI stock.

Palestine (Occupied Palestinian Territories)

Total trade in goods and services (exports plus imports) between the UK and Occupied Palestinian Territories –Palestine -was £54 million in the four quarters to the end of Q3 2024, an increase of 38.5% or £15 million in current prices from the four quarters to the end of Q3 2023.

Of this:

• Total UK exports amounted to £21 million in the four quarters to the end of Q3 2024 (a decrease of 4.5% or £1 million in current prices, compared to the 2023 period);

• Total UK imports amounted to £33 Q3

2024 (an increase of 94.1% or £16 million in current prices, compared to the 2023 period).

Palestine was the UK’s joint 164th largest trading partner in the period.

Qatar

Total trade in goods and services (exports plus imports) between the UK and Qatar was £5.6 billion in the four quarters to the end of Q3 2024, a decrease of 39.6% or £3.7 billion in current prices from the four quarters to the end of Q3 2023.

Of this £5.6 billion:

• Total UK exports to Qatar amounted to £4.4 billion in the four quarters to the end of Q3 2024 (a decrease of

19.9% or £1.1 billion in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Qatar amounted to £1.2 billion in the four quarters to the end of Q3 2024 (a decrease of 68.3% or £2.6 billion in current prices, compared to the four quarters to the end of Q3 2023).

Qatar was the UK’s 45th largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.3% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Qatar was £83 million, 23.4% or £25 million lower than in 2022.

In 2023, Qatar accounted for less than 0.1% of the total UK outward FDI stock. In 2023, the inward stock of foreign direct investment (FDI) in the UK from Qatar are not available due to data disclosure.

Saudi Arabia

Total trade in goods and services (exports plus imports) between the UK and Saudi Arabia was £15.8 billion in the four quarters to the end of Q3 2024, a decrease of 8.7% or £1.5 billion in current prices from the four quarters to the end of Q3 2023.

Of this £15.8 billion:

• Total UK exports to SaudiArabia amounted to £12.4 billion in the four quarters to the end of Q3 2024 (a decrease of 0.8% or £103 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Saudi Arabia amounted to £3.4 billion in the four quarters to the end of Q3 2024 (a decrease of 29.2% or £1.4 billion in current prices, compared to the four quarters to the end of Q3 2023).

Saudi Arabia was the UK’s 24th largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.9% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Saudi Arabia was £6.2 billion accounting for 0.3% of the total UK outward FDI stock.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Saudi Arabia was £685 million, 13.3% or £105 million lower than in 2022.

In 2023, Saudi Arabia accounted for less than 0.1% of the total UK inward FDI stock.

Somalia

Total trade in goods and services (exports plus imports) between the UK and Somalia was £34 million in the four quarters to the end of Q3 2024, a decrease of 56.4% or £44 million in current prices from the four quarters to the end of Q3 2023.

Of this £34 million:

• Total UK exports to Somalia amounted to £30 million in the four quarters to the end of Q3 2024 (a decrease of 41.2% or £21 million in current prices, compared to the four quarters to the end of Q3 2023);

Trade & Investment

Continued from page 19...

• Total UK imports from Somalia amounted to £4 million in the four quarters to the end of Q3 2024 (a decrease of 85.2% or £23 million in current prices, compared to the four quarters to the end of Q3 2023).

Somalia was the UK’s 180th largest trading partner in the four quarters to the end of Q3 2024 accounting for less than 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Somalia was £611 thousand.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Somalia was less than £500 thousand.

Sudan

Total trade in goods and services (exports plus imports) between the UK and Sudan was £82 million in the four quarters to the end of Q3 2024, a decrease of 1.2% or £1 million in current prices from the four quarters to the end of Q3 2023.

Of this £82 million:

• Total UK exports to Sudan amounted to £68 million in the four quarters to the end of Q3 2024 (an increase of 1.5% or £1 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Sudan amounted to £14 million in the four quarters to the end of Q3 2024 (a decrease of 12.5% or £2

million in current prices, compared to the four quarters to the end of Q3 2023).

Sudan was the UK’s 156th largest trading partner in the four quarters to the end of Q3 2024 accounting for less than 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Sudan was less than £500 thousand.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Sudan was less than £500 thousand.

Syria

Total trade in goods and services (exports plus imports) between the UK and Syria was £2 million in the four quarters to the end of Q3 2024, a decrease of 33.3% or £1 million in current prices from the four quarters to the end of Q3 2023.

Of this £2 million:

• Total UK exports to Syria amounted to £2 million in the four quarters to the end of Q3 2024 (a decrease of 33.3% or £1 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Syria amounted to less than £1 million in the four quarters to the end of Q3 2024 (a change of less than £1 million in current prices, compared to the four quarters to the end of Q3 2023).

Syria was the UK’s joint 214th largest trading partner in the four quarters to the end of Q3 2024 accounting for less than 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Syria was £292 million, 8.3% or £22 million higher than in 2022.

In 2023, Syria accounted for less than 0.1% of the total UK outward FDI stock.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Syria was £13.0 billion accounting for 0.6% of the total UK inward FDI stock.

Tunisia

Total trade in goods and services (exports plus imports) between the UK and Tunisia was £746 million in the four quarters to the end of Q3 2024, an increase of 19.7% or £123 million in current prices from the four quarters to the end of Q3 2023.

Of this £746 million:

• Total UK exports to Tunisia amounted to £245 million in the four quarters to the end of Q3 2024 (an increase of 7.0% or £16 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Tunisia amounted to £501 million in the four quarters to the end of Q3 2024 (an increase of 27.2% or £107 million in current prices, compared to the four quarters to the end of Q3 2023).

Tunisia was the UK’s 95th largest trading partner in the four quarters to the end of Q3 2024 accounting for less than 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Tunisia was £62 million, 28.3% or £14 million higher than in 2022. In 2023, Tunisia accounted for less than 0.1% of the total UK outward FDI stock.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Tunisia was £5 million, 15.8% or £977 thousand lower than in 2022.

In 2023, Tunisia accounted for less than 0.1% of the total UK inward FDI stock.

United Arab Emirates

Total trade in goods and services (exports plus imports) between the UK and the United Arab Emirates was £23.4 billion in the four quarters to the end of Q3 2024, an increase of 2.0% or £454 million in current prices from the four quarters to the end of Q3 2023.

Of this £23.4 billion:

• Total UK exports to the United Arab Emirates amounted to £14.9 billion in the four quarters to the end of Q3 2024 (an increase of 5.1% or £719 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from the United Arab Emirates amounted to £8.5 billion in the four quarters to the end of Q3 2024 (a decrease of 3.0% or £265 million in current prices, compared

to the four quarters to the end of Q3 2023).

The United Arab Emirates was the UK’s 19th largest trading partner in the four quarters to the end of Q3 2024 accounting for 1.4% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in the United Arab Emirates was £4.3 billion accounting for 0.2% of the total UK outward FDI stock.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from the United Arab Emirates was £3.6 billion accounting for 0.2% of the total UK inward FDI stock.

Yemen

Total trade in goods and services (exports plus imports) between the UK and Yemen was £88 million in the four quarters to the end of Q3 2024, an increase of 69.2% or £36 million in current prices from the four quarters to the end of Q3 2023.

Of this £88 million:

• Total UK exports to Yemen amounted to £86 million in the four quarters to the end of Q3 2024 (an increase of 79.2% or £38 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Yemen amounted to £2 million in the four quarters to the end of Q3 2024 (a decrease of 50.0% or £2 million in current prices, compared to the four quarters to the end of Q3 2023).

Yemen was the UK’s joint 151st largest trading partner in the four quarters to the end of Q3 2024 accounting for less than 0.1% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Yemen are not available due to data disclosure.

In 2023, the inward stock of foreign direct investment (FDI) in the UK from Yemen was £4 million, 49.7% or £1 million higher than in 2022.

In 2023, Yemen accounted for less than 0.1% of the total UK inward FDI stock.

Source: UK Department for Business & Trade official statistics on bilateral trade and investment.

JOIN US AT ABES 2025

A

Message from Our CEO

‘I am delighted to invite you to participate in the Arab-British Chamber of Commerce’s flagship event of the year, the 4th Arab British Economic Summit – ‘Friendship Through Trade’.

This annual summit serves as a crucial platform for discussing emerging bilateral business opportunities including sustainable tourism, e-commerce, franchising, and innovations across all sectors among other topics. Now in its fourth year, ABES hosts a distinguished assembly of government ministers, officials, industry leaders, and visionaries from both the UK and the Arab world who convene to explore and debate the burgeoning opportunities that technological innovations and economic shifts are creating. Our past summits have set precedents for success and innovation and the 4th Arab British Economic Summit will not only continue this tradition but will elevate it to new heights.

With over 1,000 delegates registered and more than 35 speakers hosted during the 2023 summit across all sectors, I invite you to be at the forefront of this technological and economic transformation through joining us at this year’s summit. Your participation will offer your company several benefits, including increased brand exposure through numerous speaking opportunities, extensive media coverage and prominent exhibition booths.

Join us to pave the way for a future marked by enhanced collaboration and mutual prosperity. We are excited about the prospects that the forthcoming ABES2025 will open for enlightening discussions and invaluable networking opportunities.’

EGYPT

Official name: Arab Republic of Egypt

Capital: Cairo

Population: 111 million

Approximately 95% of the population lives within 20 km of the River Nile and delta.

Total area: 1,001,450 sq km

Land: 995,450 sq km

Water: 6,000 sq km

Border countries: Libya, Sudan, Palestine

Coastline: 2,450 km

Administrative Structure: The country is composed of 27 governorates.

Main industries: Textiles, food processing, tourism, chemicals, pharmaceuticals, hydrocarbons, construction, cement, metals and light manufacturing.

Natural resources: Oil, natural gas, iron ore, phosphates, manganese, limestone, gypsum, talc, asbestos, lead, rare earth elements and zinc.

Agricultural produce: Sugarcane, sugar beets, wheat, maize, tomatoes, potatoes, rice, milk, onions and oranges.

Exports: Natural gas, fertilizers, garments, refined and crude petroleum.

Imports: Refined petroleum, wheat, crude petroleum, natural gas and plastics.

The Arab Republic of Egypt boasts the third largest economy in the Middle East and North Africa with GDP of some $360 billion. It is economically diversified, with oil and gas, manufacturing, tourism, mining, construction and agriculture playing major roles.

In 2023, services in total accounted for approximately 51% of GDP, with industry at around 33%, tourism on 24%, and agriculture on 11%. Egypt’s economic diversification is growing with the expansion of sectors such as banking and non-

banking financial services, IT and telecommunications.

As the largest Arab nation in terms of its population, Egypt is also the third most populous country in Africa. Around 5% of that population is concentrated in the fertile land along the Nile, which represents only about 5% of the country’s total land area. The rapid population growth exerts pressures on natural resources and shows the need for jobs growth, new housing, infrastructure, utilities, education, and healthcare facilities.

Egypt Vision 2030 is a national strategy launched in 2016 by the government of Egypt to address future challenges and achieve greater prosperity for the people. The vision sets a comprehensive set of goals to position Egypt among the world’s top 30 countries in sustainable economic and social development. The vision focuses on improving the quality of life for Egyptian citizens and emphasizes building sustainable economic prosperity through increasing the role of the private sector and becoming a more advanced knowledgebased society. The vision has initiated a more favourable customs regime to promote foreign investment.

One key aim of Vision 2030 is to secure Egypt’s place as a leading global outsourcing hub and attract cutting edge global technology corporations to set up business inside the country. Egypt is seeking to expand its cooperation in areas like artificial intelligence (AI), digital capacity building, and startup support. To this end, it is partnering with corporations such as Huawei to bring advanced training for young Egyptian talent in the emerging technologies.

Competitive

Advantages to Business

Egypt offers many competitive advantages to investors with numerous incentives to attract foreign investment. The economy is characterised by multiple promising investment opportunities created by the implementation of major national infrastructure projects as part of efforts to expand and develop the national road network, improve ports and maritime transport, establish and upgrade new international airports, open new tourism locations and offer new sites for mining industries and land for renewable energy.

To all this can be added the abundant raw materials and natural resources that the country possesses which enable Egypt

to support economic activities in many new and growing fields and sectors.

Egypt has a strong industrial base producing many essential products, including cement, steel, plastics, and processed foods, which support manufacturing value chains.

Key projects include electricity interconnection between Egypt and Saudi Arabia, which is contributing towards integrating the nation’s energy networks with the Gulf countries.

New Administrative City

The government of Egypt has invested significantly in new infrastructure in recent years, including housing, new cities, and rapid road building programmes. The most prominent mega-project is the $58 billion new administrative capital. This ambitious new administrative city is situated along the corridor between Cairo and the Red Sea, providing strategic links

to significant shipping routes. The master plan envisaged the creation of a global city with smart infrastructure for the country’s future, providing a multitude of economic opportunities and offering a high quality of life.

Suez Canal Economic Zone

The Suez Canal Economic Zone (SCZone) is Egypt’s world-class free zone and trade hub along the banks of the expanded Suez Canal. Strategically located on the main international trade route between Europe and Asia, more than eight percent of global trade passes through the canal every year.

Renewables

The administration has issued incentives directed towards incentivising the private sector’s involvement in the expansion of renewable energy hoping to attract support and investment for an ambitious green transformation. There have been numerous partnerships involving such corporations as Siemens and Vestas in large-scale wind turbine installations, Egypt-China collaboration in energy investments, particularly solar. The government has implemented a Renewable Energy Law that encourages private sector participation and stimulates foreign investment in renewable energy.

Space Programme

Egypt has a growing space programme focused on developing its capabilities to manufacture satellites and associated support infrastructure in an effort to become a regional space power. The country operates satellites, builds satellites jointly with foreign partners and is developing local satellite manufacturing capabilities. Through technology transfers Egypt is attracting other spacerelated technologies, including communications and satellite

Egypt’s Country Profile

components. A public agency for the space industry, Egyptian Space Agency, was established in 2019.

Trade Agreements and Treaties

Egypt has signed various trading agreements with international and regional partners to help facilitate bilateral trade and widen its market access. Such agreements include the UK-Egypt Association Agreement, the Common Market for Eastern and Southern Africa (COMESA), the Agadir Agreement with the Arab Mediterranean countries, the Pan Arab Free Trade Area (FAFTA), an Association Agreement with the EU, and an agreement with the Southern American trade bloc, Mercosul, the African Continental Free Trade Area (AfCFTA). In addition, Egypt has signed bilateral investment treaties with many of the world’s leading economic nations including China, India, and the US. A free trade agreement operates with Turkey. All these bilateral and multilateral treaties contribute towards increasing the attractions of the country to businesses seeking to base their operations in the MENA region.

Future Outlook

Despite some challenges, Egypt’s economic outlook is on an upward trajectory, with a predicted GDP growth of 4.7% in 20252026, which surpasses an IMF forecast of 4.1%. Growth is fuelled by comprehensive economic reforms that continue to stimulate investment across vital industries and new infrastructure. Egypt is improving its linkages with key neighbours such as Jordan, Iraq, and other countries to strengthen economic integration.

Going forward, Egypt is committed to implementing structural reforms to drive economic sustainability and boost its competitiveness as a regional export hub to Europe and global markets.

Egypt Economic Outlook

Despite the challenges facing the Egyptian economy exacerbated by external shocks namely the COVID-19 pandemic and global and regional conflicts, the Egyptian economy has taken great strides over the past year on several fronts; driving international financing institutions (IFIs) and rating agencies to revise their outlook on the country.

With the new Government strategy following the Cabinet reshuffle, the current Administration has been working to address a number of concerns to restore and retain investor confidence and private sector participation in the economy. Implementing the State Ownership Policy, maintaining a flexible exchange rate, revamping the tax system, and curbing inflation have been at the forefront of the Government’s policies. Noting the Government’s initiatives, the International Monetary Fund (IMF) expects a growth of 3.6% during the current fiscal year and expects a 4.1% growth for FY 2025/2026. Similarly, the World Bank Group (WBG) is anticipating the economy to grow at a rate of 3.5% during the current fiscal year and 4.2% in FY 2025/2026. Part One of this article will provide a brief overview of the Egyptian economy’s performance over the past couple of years, noting the highlights and key events supporting the economy’s buoyancy amid global tribulations. Building economic resilience is another key driver of the Government’s current efforts to expand and diversify its sectors. Egypt’s energy and Suez Canal economic sectors have long served as essential

catalysts for economic growth. As a primary electricity producer and a top 10 oil producing country in Africa, Egypt is well positioned to become a regional energy exporter. The Egyptian oil and gas sector is expected to grow at a compound annual growth rate (CAGR) of 3% from USD 7.5 billion in 2024 to USD 8.7 billion by 2029. Furthermore, as global sustainability trends continue to grow, the Egyptian Government has mobilized its resources to scale up the economy’s clean energy production. Sources such as green hydrogen, ammonia, nuclear and solar power have been receiving significant local and foreign investments over the past few years. Part Two of this article will provide an overview of recent energy trends in Egypt while going over current projects and commitments and how the Government plans to realize them.

The Suez Canal Economic Zone (SCZONE) plays a pivotal role in bolstering the Egyptian economy, serving as critical conduits for global trade and investment. The SCZone is designed to attract foreign direct investment (FDI), enhance industrial development, and promote export-oriented industries.

By leveraging its strategic location, the SCZone aims to transform Egypt into a regional logistics and manufacturing hub, thus creating jobs, boosting economic growth, and diversifying the economy. Together, these elements underscore the importance of the SCZONE in shaping Egypt’s macroeconomic landscape. Part Three will provide an overview of the latest developments in the SCZONE and their impact in driving economic growth in Egypt.

Additionally, the encouragement of private sector participation is a pivotal component spearheading the current Administration’s reform policies. The civil aviation industry has been selected as a leading industry in privatization efforts. The current initiative led by the Government with the support of the International Finance Corporation (IFC) focuses on the modernization and expansion of Egyptian airports through the privatizing their management and operation while the Government retains ownership. Part 4 will explore and discuss the importance of the industry to the Egyptian economy, the

latest developments, and the sector’s potential in driving economic growth.

Egypt’s economic trajectory reflects a comprehensive approach to addressing challenges while capitalizing on opportunities for growth and development. Through the implementation of structural reforms, the advancement of key sectors and the mobilization of public and private investments, the Government is working to solidify the country’s economic resilience and foster sustainable growth. Focused efforts to stabilize the economy and encourage private sector participation are complemented by strategic initiatives across different sectors such as energy, the SCZONE and civil aviation. These measures underscore a commitment to enhancing Egypt’s position as a regional economic hub, paving the way for sustained growth and diversification in the coming years.

Part 1: Egypt’s Economic Progress

The Egyptian Government has made significant strides in boosting the country’s economic health and stability

in recent years, reflecting a commitment to enhancing the overall economic landscape. Recent improvements in key macroeconomic indicators reflect said efforts, showcasing positive trends in GDP growth and controlled inflation levels coupled with gradual enhancements in the country’s credit rating. Accordingly, investor confidence in the Egyptian economy is rising further mirroring the Government’s commitment to fiscal discipline. Furthermore, these

advancements have been supported by robust monetary and fiscal strategies aimed at managing inflationary pressures and promoting sustainable growth. Though debt levels remain elevated, the Government is implementing strict measures to redirect public spending and limit external borrowing. The impact of this policy is reflected in the country’s declining financing gap as per the IMF’s forecasts of Egypt’s external financing needs and sources in Chart 1 below. >>>

(Chart 1.0)

Building on this foundation, the Government has been mobilizing its resources to implement key reform policies, placing the country on the path to sustainable economic growth. At the forefront of its reform efforts is the State Ownership Policy aimed at encouraging private sector participation and the optimization of resource allocation. Complementing this initiative is the prioritization of expanding trade and investment opportunities. Utilizing current trade agreements, in addition to signing new trade agreements and promoting large-scale investment projects are critical to attracting foreign capital and retaining investor confidence. This part will explore these key efforts in detail, examining their collective impact on Egypt’s evolving economic landscape and future prospects.

between the official and parallel currency markets, enhancing the efficiency of currency allocation and promoting foreign investment.

By allowing the exchange rate to adjust according to market conditions, the Government has created a more predictable economic environment that supports trade and investment. Egypt’s Net International Reserves (NIRs) have also been gradually increasing over the past year to record USD 47.39 billion in February 2025 compared to USD 46.38 billion in June 2024. This growth in reserves bolsters the country’s financial position, providing a buffer against external economic shocks while enhancing investor confidence and stabilizing the national currency.

I. Economic Resilience

Egypt’s economic health has recently shown notable improvements, as reflected in several key macroeconomic indicators that highlight the country’s recovery and growth potential. During FY 2023/2024, GDP growth slowed down to 2.4% considering the geopolitical tribulations. However, the IMF projects that Egypt’s economy will grow by 3.6% during the current fiscal year, with expectations of further growth projected at 4.1% for FY 2025/2026. Similarly, the World Bank anticipates a growth rate of 3.5% for the current fiscal year and 4.2% for the following fiscal year. These forecasts indicate a consensus among international financial institutions regarding Egypt’s potential for economic recovery, driven by effective policy measures and a more favourable investment climate.

As the economy witnesses expansion, inflation has become a critical focus. In February 2025, inflation significantly decreased to 12.8%, down from 24% in January 2025. This sharp decline can largely be attributed to a favourable base year effect, which has helped stabilize prices and restore consumer confidence. Furthermore, integral to maintaining this stability is the Government’s commitment to a flexible exchange rate regime, in line with its agreement with the IMF. This policy has successfully bridged the gap

The recent improvements in Egypt’s macroeconomic indicators have not gone unnoticed by credit rating agencies, which have affirmed a positive outlook on the country’s creditworthiness. In October 2024, S&P Global affirmed Egypt’s B-/B rating for long and shortterm credit, signalling confidence in the Government’s fiscal management. Similarly, Moody’s confirmed a Caa1 rating in February 2025, maintaining a positive outlook. Additionally, Fitch Ratings upgraded Egypt’s credit rating from B- to B in November 2024, citing the rise in the country’s NIRs and a stable outlook. These ratings reflect growing international confidence in Egypt’s economic trajectory and the Government’s policies while enhancing its attractiveness to international investors.

Collectively, these developments illustrate a concerted effort by the Egyptian Government to enhance economic stability and foster sustainable growth. As inflation continues to decline and growth projections remain optimistic, Egypt is positioning itself for a more resilient economic future, supported by robust credit ratings and improving financial indicators. This holistic approach to economic management lays the groundwork for long-term prosperity and increased global competitiveness.

II. Monetary & Fiscal Policy

Restructuring Egypt’s fiscal landscape presents a pivotal opportunity for reform, especially in light of the current fiscal deficit and the historical reliance on borrowing. Over the years, the Egyptian Government has strategically focused public spending on vital areas, including subsidies, defence, public sector wages, infrastructure projects, and social programs. While revenues

from taxes, oil exports, tourism, and Suez Canal receipts provide essential income, they have been vulnerable to external shocks, resulting in public expenditure often exceeding revenues. Additionally, historical policies attempting to fix foreign exchange rate of the Egyptian pound (EGP) against the USD has necessitated a significant allocation of the public budget to address the disparity between the actual and fixed rates. Consequently, the Government has sought external loans and foreign aid as a temporary measure, leading to an increase in external debt from USD 34 billion in 2012 to USD 152.9 billion by 2024.

In 2024, the Government embarked on comprehensive measures to enhance fiscal space through the implementation of forward-looking monetary and fiscal policies. The Central Bank of Egypt (CBE) has adopted a flexible exchange rate regime, allowing for a more accurate reflection of the EGP’s value against the USD. In response to inflationary pressures resulting from this liberalization, the CBE has taken decisive steps to tighten monetary policy by raising interest rates. This commitment to strengthening Egypt’s monetary framework is anticipated to yield positive outcomes in 2025, with expectations of declining inflation (which already began materializing) and reductions in interest rates, expected starting next Monetary Policy Committee (MPC) meeting scheduled for 17 April 2025

Moreover, the current Administration is demonstrating its dedication to restructuring budget allocations by prioritizing essential areas for public funding. In conjunction with offering stakes in state-owned enterprises (SOEs), the Government is also reducing subsidies on non-essential goods, such as fuel, to create additional fiscal space. The Minister of Finance has also announced the drafting of a revised tax regime aimed at broadening the tax base while ensuring that low-income households are not disproportionately affected. Although recent fiscal reforms may lead to a temporary widening of the fiscal deficit—due to impending loan repayments and the need for Suez Canal receipts to recover following regional tensions—the new fiscal strategy is designed to focus on reducing external debt in the medium to long term. Future loans are expected to be secured under favourable terms, particularly concerning interest rates and repayment conditions, positioning Egypt for a more sustainable economic trajectory.

III. Debt Management

The Egyptian Government’s debt management strategy has shown promising progress, as evidenced by the latest report from the Ministry of Finance, which highlights a decline in the debt-to-GDP ratio to 89.6% for FY 2023/2024, down from 96% in the previous fiscal year. This positive trend is projected to continue, with forecasts indicating that the ratio could fall below 85% by the end of the current fiscal year. Furthermore, the IMF anticipates a decrease to 84.5% by 2025 and 73.9% by 2027, while Fitch Solutions estimates a reduction to 78.9% in FY 2026. These forecasts reflect a commitment to achieving economic and fiscal stability, through the implementation of structural reforms, including effective debt management and revenue-based fiscal consolidation, to enhance economic resilience.

Investment inflows, particularly foreign direct investments (FDIs) and portfolio investments, are anticipated to provide vital support to Egypt’s economy in the short term, even in the context of an increasing current account deficit. The IMF’s Gross Financing Needs (GFN) Module reflects that public debt levels are currently manageable, although there are important considerations for medium- to long-term sustainability. To ensure ongoing stability, the Fund emphasized the need to move away from reliance on more volatile funding sources, such as “hot money,” and external loans for addressing existing debt obligations. Instead,

implementing robust reform policies— such as debt restructuring and fiscal adjustments—will be key to mitigating risks and enhancing the resilience of the economy in the long run. This proactive approach underscores the Government’s commitment to fostering a stable financial environment while navigating current challenges.

Recently, Egypt has received a number of loans from a consortium of lenders including but not limited to the EU EIB, the IMF and a number of UAE Banks, reflecting a strategic decision by the Government despite its commitment to reducing external debt. These financing arrangements aim to address immediate high external debt obligations, facilitating the government’s efforts to manage larger-than-expected loan instalments and bridge the budget deficit while bolstering the country’s economic resilience and sustainable development efforts. It is worth noting that the Government’s current strategy is cognizant of setting favourable terms for said loans and any upcoming loans so as not to divert from its debt restructuring and management priorities. Officials have also emphasized that the transition away from external borrowing cannot occur abruptly, necessitating a phased approach to sustainably shift reliance from external loans toward more stable forms of debt repayment. This balanced strategy underscores the Government’s determination to navigate its fiscal challenges while laying the groundwork for long-term economic stability.

IV. State Ownership Policy

The significant presence of SOEs in the Egyptian market has been recognized as an area for enhancement in attracting investors and fostering private sector participation. Public and military companies operate in a diverse array of industries, including capital goods, consumer durables, apparel, food, and media, among others. While SOEs have historically enjoyed certain advantages, such as preferential access to resources and contracts, there is a growing emphasis on creating a more equitable business environment that supports private sector growth.

In response to this need, the IMF and the WBG have highlighted the importance of “competitive neutrality” to bolster Egypt’s business climate. In June 2022, the Government announced the State Ownership Policy, which aims to strategically divest from SOEs in specified sectors. This initiative is designed to free up fiscal space in the Government budget, empower the private sector, and redirect state involvement toward sectors where private investment is less forthcoming.

While the ambitious targets set forth in this policy have faced some delays, there is optimism for renewed momentum during the current fiscal year. The Minister of Finance, H.E. Mr. Ahmed Kouchouk, has announced plans to raise between USD 2 billion and USD 2.5 billion through the privatization of SOEs by the end of this fiscal year. Notably, the initial public offering (IPO) of United Bank shares in early December 2024 was met with strong demand, being oversubscribed 59 times. >>>

Furthermore, the Government has announced plans to sell 11 companies in 2025, including Wataniya, Safy, Chill Out, and Silo Foods, marking significant steps toward enhancing the role of the private sector in Egypt’s economy.

These efforts reflect the government’s commitment to fostering a more dynamic and competitive market, ultimately paving the way for sustainable economic growth and increased investment opportunities. V. Trade & Investments a. Trade

Egypt’s trade balance has reflected the evolving dynamics of both external and domestic economic factors in recent years, showcasing a period of adjustment and transformation. In 2023, trade restrictions effectively narrowed the trade deficit, highlighting the potential for targeted policy measures to positively impact the economy. Despite Government efforts, Egypt’s trade deficit increased to USD 39.6 billion in FY 2023/2024, up from USD 31.2 billion in FY 2022/2023. The rise can be mainly attributed to the drop in exports by approximately USD 7 billion from USD 39.6 billion in FY 2022/2023 to USD 32.6 billion in FY 2023/2024- largely driven by the substantial decline in oil exports. Added to that, Egypt’s imports rose by almost USD 1.3 billion from USD 70.8 billion in FY 2022/2023 to USD 72.1 billion.

Additionally, as import restrictions eased, the trade deficit reached USD 9.8 billion in Q1 FY 2024/2025 compared to USD 6.6 billion during the same period the previous year. Although exports climbed to USD 9.1 billion in Q1 of FY 2024/2025 up from USD 8.3 billion in Q1 of FY 2023/2024, imports rose significantly; recording USD 23.1 billion in Q1 FY 2023/2024 relative to USD 16.3 billion during the same period of FY 2023/2024. Despite these short-term fluctuations, Egypt’s efforts to navigate these challenges reflect its commitment to implementing reforms, boosting export potential, and achieving sustainable economic growth.

To address the widening trade deficit, the Egyptian Government has been mobilizing resources to boost exports through a series of initiatives, including export incentives, private sector engagement, and the recently developed Export Support Program. The Export Development Committee, an advisory committee established under the Prime Minister, is actively

formulating policy recommendations to enhance export competitiveness. These measures include offering competitive interest rates tied to inflation, streamlining customs clearance procedures, reducing financial burdens on exporters, and expediting payments under the Export Support Program.

Furthermore, the Government has set ambitious targets to drive export growth, aiming to increase exports to USD 115.8 billion by 2030. As part of this strategy, it seeks to accelerate the annual growth rate of industrial exports to 20% by 2030 through the establishment of 10 new specialized economic zones, the development of 10 industrial clusters for export, and the identification of 10 promising markets for Egyptian products. Additionally, the Government is prioritizing the diversification of exports, particularly in digital services, with a goal to increase digital services exports from USD 6.2 billion in 2023 to USD 9 billion by 2026. These comprehensive efforts underscore Egypt’s commitment to fostering a more resilient trade environment and achieving sustainable economic growth.

b. Investments

Egypt’s investment climate has witnessed significant improvements, marked by a surge in FDIs driven by major deals and favourable economic reforms. A turning point came in 2024 with the UAE’s landmark Ras Al Hekma deal, valued at USD 35 billion. This mega-scale investment not only bolstered Egypt’s foreign reserves— helping the country meet a significant

portion of its loan obligations—but also restored investor confidence. The deal also inspired private sector momentum, exemplified by Talaat Moustafa Group’s (TMG) USD 21 billion SouthMED real estate project. Moreover, it catalysed a wave of foreign investor activity, with Saudi Arabia and Qatar entering discussions on future investments. Later in the year, Saudi Arabia’s Public Investment Fund (PIF) announced a USD 5 billion initial investment as part of a broader agreement, while Qatar unveiled plans to channel USD 1.5 billion into real estate projects. Additionally, the Government is working to convert Gulf deposits—such as Saudi Arabia’s USD 10 billion in deposits at the CBE—into investments, as part of its broader debt restructuring efforts aimed at reducing external debt obligations.

Egypt’s enhanced investment climate can be attributed to several factors, including the introduction of golden licenses, new investment incentives, and positive endorsements from international financing institutions such as the IMF and WBG. These efforts, combined with landmark agreements, helped FDI inflows exceed USD 40 billion in 2024—more than quadrupling compared to 2023 as seen in Chart 2 below. The Government has since prioritized streamlining procedures and improving the ease of doing business to attract further investments, with inflows primarily targeting key sectors such as real estate, infrastructure, industry, energy, and green projects. These developments align with the Government’s commitment to implementing macroeconomic reforms

(Chart 2.0)

and fostering an investor-friendly environment. By targeting strategic investments and advancing key projects, Egypt is positioning itself as a competitive and attractive destination for both regional and international investors.

The Egyptian Government’s multifaceted approach to economic reform has yielded tangible progress across various sectors, reinforcing the country’s position as a dynamic economy. By addressing structural challenges through macroeconomic stabilization reforms policies while prioritizing and expanding key industries, Egypt has demonstrated its commitment to fostering sustainable growth and economic diversification. While challenges remain, particularly in managing external debt and narrowing the trade deficit, the Government’s proactive strategies supported by international financing institutions (IFIs) provide a solid foundation for long-term stability. As Egypt continues to build on these achievements, its ongoing reforms and strategic initiatives will shape a stronger economic future.

Part 2: Egypt’s Energy Sector - A Comprehensive Overview

Egypt’s energy sector is a vital pillar of its economy, playing a significant role in national development, investment

attraction, and regional energy security. The country has long been a leader in conventional energy production, with a well-established oil and gas industry. In recent years, Egypt has also made substantial strides in renewable energy, particularly in solar and wind power, while emerging as a regional player in green hydrogen development.

Oil and Gas Sector

Egypt’s oil and gas sector remains a cornerstone of its economy, with the country being one of the largest oil and gas producers in Africa. The sector contributes significantly to GDP, foreign exchange earnings, and government revenues. The oil and gas market in Egypt are projected to grow from USD 7.71 billion in 2025 to USD 8.94 billion by 2030, reflecting a healthy compound annual growth rate of 3.01%. In 2024, the country intensified its exploration and production activities through the launch of an international bid round for 12 blocks in the Mediterranean and Nile Delta, aiming to attract international investment and expand exploration. Discoveries in the Nargis Offshore Area and the North Safa field underscore Egypt’s growing role in gas and oil production.

To further boost production, the Ministry of Petroleum and Mineral

Resources introduced new investment incentives in 2024. In August 2024, Egypt’s Minister of Petroleum and Mineral Resources, Eng. Karim Badawi, announced a series of investment incentives designed to boost oil and gas production. These incentives introduce mechanisms that reward increases in production beyond current levels and promote enhanced exploratory and developmental drilling activities. The additional revenue generated from this increased production is allocated to settle portions of the sector’s financial obligations to partners, thereby narrowing the gap between domestic production and consumption. Egypt is enhancing its status as a gas hub by leveraging its LNG terminals while addressing financial obligations to international oil companies. This approach not only aims to reduce the monthly import bill but also provides more financial resources for both the government and its partners, fostering further investment in exploration and production activities. Ultimately, these measures contribute to national energy security by ensuring a more robust supply of domestically produced petroleum resources. A notable move toward sustainability is Egypt’s six-year decarbonization plan, which seeks to cut 8 million tons of CO2 emissions with $600 million in investments. >>>

Renewable Energy: Solar and Wind

Egypt is transitioning toward a diversified and resilient energy mix, aiming to generate 42% of its electricity from renewable sources by 2030, according to its Nationally Determined Contributions that was updated during COP27. The country has launched major solar and wind initiatives. The Benban Solar Park remains a flagship project, while the Abydos Solar Plant (500 MW) was inaugurated in December 2024 with 100% Egyptian labour and 95% Egyptian project management, supplying 256,000 homes and reducing CO2 emissions by 760 tons annually.

Egypt’s commitment is further evident through projects under the NWFE platform, including:

Amunet Wind Farm (500 MW, $600 million, AMEA Power)

Abydos Solar + Storage (500 MW + 300 MW battery, $500 million, AMEA Power) Red Sea Wind Farm GOS II (650 MW, $725 million, Orascom, Engie, Toyota) Kom Ombo Solar (200 MW, $182 million, ACWA Power)

Gulf of Suez Wind Farm (1.1 GW, $1.1

billion, ACWA Power, Hassan Allam) Ras Ghareb Wind Farm (200 MW, $215 million, Masdar, Infinity)

Obelisk Solar & Battery (1 GW + 200 MW battery, $600 million, Scatec)

The NWFE Energy Pillar includes plans to decommission 5 GW of inefficient fossil fuel capacity (1.2 GW already completed), replace them with 10 GW of renewables through $10 billion in private investment, and expand grid infrastructure. NWFE has unlocked $3.9 billion in private investments and is globally recognized as a model country platform for climate finance and implementation. These initiatives collectively represent billions of dollars in investment and multiple gigawatts of clean energy capacity.

Moreover, Egypt has launched grid strengthening projects worth EUR 367 million. Wind speed mapping and a Strategic Environmental Assessment for the Gulf of Suez are underway to support land allocation and ensure environmental compliance.

Finally, the Government is working on policies to issue Guarantees of Origin for renewable electricity, boosting transparency and investor confidence.

It is also expanding regulations to allow private-to-private energy trading.

Green Hydrogen: A Future Energy Frontier

Egypt is positioning itself as a global hub for green hydrogen production and export. Its national hydrogen strategy, unveiled at COP27 and launched in 2024, with support from EBRD, lays out a phased approach—starting with pilot projects between 2022 and 2025, followed by a scale-up to 2030, and culminating in full implementation by 2040. The strategy aims to produce 5 million tons annually by 2040, create over 100,000 jobs, and contribute up to $18 billion to GDP.

The Egypt Green Hydrogen project in Ain Sokhna is a flagship initiative. As Africa’s first integrated green hydrogen facility, it will produce 13,000 tons of hydrogen and 74,000 tons of green ammonia each year. The project is managed by a consortium that includes Fertiglobe, Scatec, Orascom, and the Sovereign Fund of Egypt.

Moreover, Egypt has signed more than 20 framework agreements with international

partners such as BP, Siemens Energy, Masdar, Globeleq, Fortescue, and China Energy. These projects are expected to deploy 12 GW of electrolyser capacity, enabling the production of up to 1.57 million tons of hydrogen annually. In March 2025, Air Liquide Egypt and UEG signed an MoU for a green ammonia facility in the Suez Canal Economic Zone. Other major players, including Masdar and Hassan Allam, are planning facilities to produce nearly half a million tons of hydrogen per year.

Egypt’s green hydrogen will primarily be exported in the form of ammonia, leveraging its existing port infrastructure. A strategic partnership with the European Commission, supported by a €35 million grant, further strengthens Egypt’s export potential. Regulatory frameworks are being developed to cover hydrogen licensing, grid access, pricing, and investment incentives. Egypt is also exploring blue hydrogen and carbon capture strategies.

The country is well-positioned in the global green hydrogen market due to its geographic proximity to Europe, abundance of solar and wind resources, and strong political support. The Government aims to reduce the cost of green hydrogen production below $2/ kg, which would significantly enhance its competitiveness in international markets.

Egypt’s energy sector is undergoing a profound transformation, combining its legacy in oil and gas with a forwardlooking vision focused on renewable energy and green hydrogen. Through bold investments, progressive policies, and strategic partnerships, Egypt is laying the foundation to become a leading energy hub in the region and a critical player in the global transition to sustainable energy.

Part 3: Airports and Aviation Infrastructure - Partnerships

Modernizing Egypt as a Global Transit Leader

Egypt, a strategic hub linking Africa, Europe, and the Middle East, has a well-

established aviation infrastructure that plays a critical role in its economy and global connectivity. The Government has prioritized modernizing its aviation sector to solidify its position as a global transit leader, attract foreign investment, and boost tourism.

Airport Infrastructure Development

Egypt is undertaking significant expansions and modernization efforts in its aviation infrastructure to enhance its capacity and global connectivity. Cairo International Airport is building a new terminal that will increase its capacity to 58.2 million passengers, with further expansions targeting 72.2 million passengers by end of 2025 and 109.2 million by 2030. Similarly, Hurghada Airport has expanded its capacity to accommodate 7 million passengers annually, aligning with efforts to boost tourism in the Red Sea region. New airports, such as Sphinx Airport near the Pyramids and Greater Cairo, Bagdaweel Airport in the northern regions, and the New Administrative Capital Airport, are being developed to address regional connectivity and economic growth while reducing congestion at existing hubs.

In parallel, Egypt is focusing on integrating its airports with urban and regional transport systems through improved bus and railway links and planning air taxi and helicopter services for faster city-to-airport transfers. The country aims to accommodate 30 million tourists annually by 2028, driving continuous upgrades in tourismfocused airport infrastructure. EgyptAir is also playing a pivotal role in this modernization, with plans to expand its fleet to 125 commercial aircraft and six cargo planes by 2029, supported by a significant EGP 20 billion investment from the Ministry of Finance. These developments collectively underscore Egypt’s commitment to positioning itself as a global aviation and tourism leader.

IPO and Strategic Partnerships for Management and Investments

The Egyptian Ministry of Civil Aviation (MOCA) has announced plans to incorporate parts of the civil aviation sector into the national IPO program, aiming to attract private investment and improve operational efficiency. This initiative is a key component of Egypt’s broader economic reform agenda, which focuses on reducing public debt and enhancing private sector participation. Although specific entities to be included in the IPO are still under discussion, the program is expected to

promote transparency, governance, and long-term sustainability within the sector. These efforts align with Egypt’s strategic vision of establishing its aviation industry as a regional hub by leveraging investments to modernize airports, improve services, and expand capacity.

Egypt is actively fostering Public-Private Partnerships (PPPs) to involve private sector players in airport management and operations while maintaining public ownership. This model aims to modernize facilities, boost efficiency, and enhance passenger experiences. A notable example of this approach is Marsa Alam Airport, which operates successfully under private management and adheres to international standards. The International Finance Corporation (IFC) is collaborating with MOCA as a consultant to develop strategic frameworks for private sector participation, focusing on operational optimization, foreign investment attraction, and global best practices; with a three-staged approach. The International Finance Corporation (IFC) has unveiled a list of 11 airports slated for public-private partnership (PPP) development, aimed at upgrading Egypt’s airport infrastructure and services with private sector involvement. The selected airports include Hurghada, Sphinx, Sharm El Sheikh, Borg El Arab, Luxor, Aswan, Sohag, Assiut, Abu Simbel, El Alamein, and Marsa Matruh International Airports, notably excluding Cairo International Airport from this first phase. Hurghada International Airport will serve as the pilot project, with the Egyptian Holding Company for Airports and Air Navigation retaining ownership while a strategic private partner is selected through a tender process to maintain, operate, and upgrade the airport.

Additionally, Egypt is partnering with the European Bank for Reconstruction and Development (EBRD) to further enhance private sector involvement, with a particular emphasis on improving efficiency and service quality. Discussions with the UAE have also opened avenues for collaborative projects, such as the expansion of Borg El Arab Airport and capacity upgrades at El Alamein Airport, underscoring Egypt’s commitment to international partnerships in modernizing its aviation infrastructure. Finally, Egypt’s Minister of Civil Aviation, Sameh El-Hefny, led strategic discussions in London to strengthen bilateral relations between Egypt and the UK in aviation-related areas, including technology, infrastructure, and maintenance services. This visit aligns with Egypt’s Vision 2030 for the sector’s development. >>>

Digital Transformation in Aviation

Egypt is rapidly adopting smart airport technologies to modernize its aviation sector and enhance the passenger experience. The introduction of automated check-in systems, including self-service kiosks and counters, aims to streamline the boarding process and minimize wait times. Biometric identification systems, such as facial recognition, are being deployed to ensure secure and seamless passenger verification during security checks and boarding. Additionally, digital upgrades focus on improving the overall passenger journey through faster processing times, enhanced safety measures, and real-time updates on flight schedules, baggage handling, and airport navigation. Efforts to implement an e-visa system and an Advanced Passenger Information (API) system are also underway to simplify visa issuance, optimize immigration procedures, and enhance security for international travellers.

Modernizing airport operations is another priority for Egypt’s Ministry of Civil Aviation (MOCA). Digitized customs processes are being introduced to reduce clearance times and improve transparency in cargo handling, while centralized airport management under MOCA aims to integrate customs, health, and security authorities for better coordination. Future milestones include significant advancements in digital infrastructure by 2025, with improvements in passenger services, airport management, and operational efficiency. EgyptAir’s digital strategy complements these efforts by prioritizing enhancements in in-flight entertainment, language services, and ground operations, positioning Egypt as a forward-thinking leader in the global aviation sector.

Sustainable Aviation Initiatives

Egypt is making significant strides in advancing sustainability within its aviation sector as part of its broader Vision 2030 framework. The country aims to achieve 5% usage of Sustainable Aviation Fuel (SAF) by 2030, showcasing its commitment to decarbonizing air travel. The Egyptian government launched the Sustainable Aviation Fuel Production Company (ESAF) in November 2024. ESAF aims to invest $530 million to develop SAF production facilities, targeting an annual output of 120,000 tonnes by converting locally sourced waste materials. This initiative is expected to reduce CO₂ emissions by up to 400,000 tonnes per year. Collaborative efforts with energy producers are underway to secure a steady SAF supply, alongside necessary upgrades to airport infrastructure and air fleet systems to support the new fuel technology. Egypt’s commitment to green aviation was further highlighted during a technical working group meeting of the African Union in Addis Ababa, where Egyptian representatives showcased the country’s strides in promoting SAF, low-carbon aviation fuel, and clean energy solutions for the aviation sector in Africa. The Ministry of Civil Aviation (MOCA) is implementing comprehensive decarbonization strategies, emphasizing the reduction of greenhouse gas emissions through energy-efficient technologies and renewable energy sources at airports. These initiatives align with Egypt’s transition to a green economy, with a focus on integrating eco-friendly practices in airport management, aircraft maintenance, and ground operations. Additionally, sustainable development is at the forefront of new and existing airport projects,

incorporating energy-efficient terminal designs and renewable energy usage to minimize environmental impact.

Development of Cairo as a Cargo City

Cairo International Airport is undergoing a transformative development to become a premier Cargo City, focusing on enhancing air freight capabilities to bolster trade and economic growth. The initiative aims to increase cargo handling volumes to 2 million tons annually within two years, positioning Egypt as a key player in the global supply chain. This development includes significant investments in infrastructure upgrades, such as expanding warehousing capacity, modernizing cargo handling facilities, and improving connectivity with road and rail networks for seamless inland distribution. These efforts aim to establish Cairo as a central hub for air freight distribution across Africa and the Middle East, promoting exports and attracting multinational logistics providers.

Innovation and international collaboration are at the heart of this initiative. Advanced logistics systems, digital platforms, and drone technology, inspired by models like Amazon Cargo, are being integrated to streamline operations, improve efficiency, and reduce transportation times. Egypt is also partnering with global logistics leaders such as FedEx and DHL under its opensky policy, while fostering collaborations with private airlines and logistics companies to complement national carriers like EgyptAir. These initiatives align with Egypt’s Vision 2030, supporting economic diversification and enhancing the country’s competitiveness in the global logistics sector.

Part

4: The Suez Canal

Economic Zone (SCZONE) and Logistics - A Strategic Hub Driving Trade and Industrial Growth

The Suez Canal Economic Zone (SCZONE) is an independent entity responsible for developing the Suez Canal region and attracting foreign direct investment. By 2035, SCZONE aims to become one of the most attractive investment destinations worldwide. The region enjoys a range of benefits, including tax and customs exemptions under its Special Economic Zones Law and the Investment Law, which aim to limit restrictions on investments through a streamlined administrative and regulatory framework.

I. SCZONE Strategic Location and Significance in Global Trade

SCZONE holds a unique strategic position at the heart of global trade. Spanning an area of 455 km², it contributes to the creation of 100,000 direct and indirect job opportunities. The Zone hosts six major seaports and two airports, operated by five key port operators, and is strategically located along the Suez Canal, the world’s most vital maritime route. The Canal facilitates 12% of global trade, accounting for 10% of seaborne cargo and accommodating approximately 26,000 ships annually. Additionally, SCZONE includes four industrial zones, employs 14 industrial developers, and is home to 400 active establishments. The SCZONE also generated record revenues, with EGP 8.25 billion in FY 2023/2024, marking a 36% growth compared to FY 2022/2023 and revenues of $5.7 billion for the first half of FY 2024/2025, compared to 4.3 billion in the same period of FY 2023/2024, reflecting continued growth and expansion.

II. SCZONE Investment Developments and Opportunities

Green Energy Initiatives and Sustainability Goals

SCZONE has secured approximately $64 billion in green hydrogen investments through 12 framework agreements, targeting an annual production capacity of 18 million tons. A $6.75 billion agreement with China Energy is set to establish green ammonia and hydrogen projects in the Sokhna Industrial Zone. Additionally, a partnership with France’s EDF and the UAE-based Zero Waste aims to develop a €7 billion green hydrogen project near the Gulf of Suez, integrating wind and solar power facilities. The project will produce over one million tons

of green ammonia annually, primarily as shipping fuel for vessels navigating the Suez Canal.

Further reinforcing its commitment to renewable energy, SCZONE has attracted Chinese investments to establish a 2-GW solar photovoltaic cell factory. Located on 78,000 square meters, with an investment exceeding $150 million, the project is expected to create 600 jobs and align with Egypt’s goal to generate 42% of its electricity from renewable sources by 2035.

Industrial and Manufacturing Expansion SCZONE is experiencing significant industrial and manufacturing expansion, driven by substantial investments and strategic initiatives. Over the past 30 months, SCZONE has attracted 251 projects with a total investment of $6.23 billion, generating approximately 28,000 job opportunities. In the metal industries sector, Shin Feng Egypt has committed to establish the largest integrated metal industries complex in Ain Sokhna, with an investment of $1.65 billion. This facility will serve the automotive and home appliance industries and will include two research and development centres along with a waste recycling facility. Furthermore, SCZONE has secured a $12 million investment from Industrial House to establish a gypsum-based products factory in Technology Valley, East Ismailia Zone and Sinai. Spanning 50,000 square meters, this project is expected to create 500 direct job opportunities and will include production lines for gypsum boards, plaster, and plastic packaging bags. These developments underscore SCZONE’s strategic efforts to enhance its industrial capabilities, attract international investments, and solidify Egypt’s position as a global manufacturing hub.

Textile Industry Developments

The SCZONE has recently emerged as a key hub for textile manufacturing, attracting significant investments from global industry leaders. Notable projects include the $120 million Eroglu Knitting Project which aims to establish a fully integrated manufacturing facility in the West Qantara Industrial Zone. The project covers 100,00 square meters and is set to create 5,000 jobs and produce 30 million garments annually. Another notable project in the West Qantara Industrial Zone is the $40 million Di Seta Project for ready-made garments. The project is anticipated to generate 1,200 jobs, with operations set to commence in September 2025. Additionally, China’s Kelida Home Textiles is investing $30 million to establish a manufacturing facility for home textiles and fabrics. The facility will be located on a 92,000 square meter plot in West Qantara Industrial

Zone, with plans to export over 90% of its products to Europe and the U.S and create 1,000 direct jobs. Jiangsu Guotai is establishing a $10 million ready-made garments factory in the West Qantara Industrial zone, as well, which is expected to employ 2,000 workers. Moreover, Changzhou Kingcason Printing & Dyeing Co. Ltd is investing $24.5 million in a yarn manufacturing, dyeing, printing, knitting, and textile design project in the West Qantara Industrial Zone. Covering 60,000 square meters, it is expected to create 500 jobs, with 100% of production allocated for export.

In collaboration with its UAE-based subsidiary, Home Hub Textile, Shanghai Honour Home Textile is establishing a $3.5 million project over 40,000 square meters in Qantara West, providing 300 jobs and focusing on exporting its entire output. Another major Chinese investment, In the Sokhna Industrial Zone, the Velvet Project will be established on a 2,300 square-meter area with an investment of approximately $2 million. The project specializes in prayer rugs, velvet fabrics, and woven textiles, and aims for a 2025 export volume of $6 million while creating 50 jobs. Similarly, the Legend Project, a $1 million investment in Sokhna Industrial Zone, is equipped with 20 circular knitting machines, a printing machine, and a packaging machine, with a target export volume of $4 million by 2025 and 30 job opportunities.

SCZONE is also attracting investments in denim manufacturing, with the Turkish denim manufacturer “Denim Rise” signing an agreement to invest $8.8 million establishing a garment manufacturing facility in the West Qantara Industrial Zone, further diversifying the textile industry’s footprint in the region. These investments highlight SCZONE’s growing role in the global textile industry, leveraging its strategic location and investor-friendly policies to attract toptier manufacturers.

Automotive Industry Developments and Petrochemical Investments

SCZONE has achieved progress in expanding its automotive and electric vehicles manufacturing sector. Chinese automaker Great Wall Motors, which has recently started manufacturing and assembling electric vehicles and is developing green-fuel trucks plans to establish a car and spare parts factory within the zone. The facility will serve the local market and support export activities, positioning Egypt as a regional hub for automotive manufacturing. >>>

Additionally, SCZONE engaged in discussions with China’s Dayun Guangzhou Automobile Manufacturing Company to expand its operations by setting up new production lines. These lines are intended to manufacture various vehicles, including vehicles powered by traditional fuel, green fuel, and electricity, aligning with global shifts towards sustainable transportation. Furthermore, In June 2024, SCZONE and the Sovereign Fund of Egypt signed an agreement with Volkswagen to explore establishing a car assembly plant in East Port Said. This collaboration aims to enhance local automotive production and strengthen economic ties between Egypt and Germany.

On another note, SCZONE is rapidly becoming a hub for the petrochemical industry. Anchorage Investments is developing a $2.5 billion petrochemical complex. This industrial complex will produce various derivatives and petrochemical products which is expected to enhance Egypt’s energy and petrochemical sector and boost its export capabilities. This project is a significant step toward making SCZONE a key player in the global petrochemical market.

Digital Infrastructure Investments

SCZONE is also enhancing its digital infrastructure. In April 2024, Egypt inaugurated its first Government Data and Cloud Computing Centre in Ain Sokhna, covering 23,500 square meters. This facility serves as a national data hub, supporting artificial intelligence (AI), big data analytics, and digital governance. The Egyptian government has also announced a free zone dedicated to communications and information technology within SCZONE to attract global tech firms and strengthen digital connectivity. Additionally, Egypt’s strategic location makes it a crucial hub for submarine cable networks. In November 2024, Telecom Egypt partnered with Saudi Arabia’s Mobily to build the first submarine cable line under the Red Sea, enhancing regional and global digital connectivity.

The SCZONE offers diverse investment opportunities across key sectors, leveraging its strategic location and investor incentives. Targeted industries include bunkering services, logistics, casting, solar PV, textiles, petrochemicals, and pharmaceuticals, including active pharma ingredients (API). SCZONE also promotes agribusiness, data centres, EV batteries, automotive manufacturing, rolling stock, and tire production, supporting global supply chains. With strong infrastructure and government incentives, SCZONE continues to attract global investments, reinforcing its role as a leading industrial and trade hub.

III. SCZONE Infrastructure Development

The SCZONE has invested $3 billion in infrastructure enhancements, with plans to match this investment in the coming years. Key projects include expanding container berths at East Port Said and developing a desalination plant in Sokhna to support the green hydrogen industry. Transportation and Logistics

SCZONE encompasses six seaports, two airports and four industrial areas, Sokhna Industrial Zone, East Port Said Industrial Zone, West Qantara Zone, and East Ismailia (Tech. Valley) Zone. These zones benefit from special tax and legal advantages. Modern road and rail networks facilitate efficient connectivity between industrial zones and ports. The construction of four mega tunnels and floating bridges further improves cross-canal transportation efficiency. Additionally, in February 2025, the SCZONE signed a 25-year strategic partnership agreement with Egytrans and Nafith International to develop and operate a smart truck yard at West Port Said Port. With an investment of LE 250 million, this initiative aims to enhance logistics efficiency, streamline truck movements, and leverage advanced digital technology.

Utilities and Energy Supply

The Zone has developed power plants and water desalination facilities to ensure a stable supply of essential resources for industrial activities. The integration of renewable energy sources aligns with Egypt’s sustainability goals and enhances SCZONE’s appeal to global investors.

The SCZONE’s rapid industrial and investment expansion, along with its commitment to sustainability and digital transformation, underscores its role as a global economic powerhouse. Despite regional challenges, SCZONE has demonstrated remarkable resilience, reporting a 32% increase in revenue for the first half of the fiscal year 2024/2025. As SCZONE continues to attract international investments and enhances its infrastructure, it solidifies its position as a leading hub for trade, industry, and innovation in the region.

Concluding Remarks

In conclusion, Egypt is navigating its path toward sustainable economic transformation with resilience, ambition, and strategic foresight. From macroeconomic stabilization and structural reform to major advancements in energy, aviation, logistics, and industrial development, the country is laying the groundwork to economic prosperity. The Government’s commitment to mobilizing private sector participation, improving fiscal discipline, and enhancing global competitiveness is already yielding positive outcomes - reflected in rising investor confidence, increased FDI inflows, and stronger credit ratings. Strategic sectors such as energy, green hydrogen, SCZONE, and aviation are not only propelling economic growth but also positioning Egypt as a dynamic regional hub for trade, industry, and sustainable development. While challenges remain, Egypt’s comprehensive reform agenda, backed by international partnerships and bold investments, signals a promising resilient future.

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UK Trade with Egypt

Egypt occupies a strategic position for international trade as the home to the Suez Canal, which is a vital trade route between Asia and Europe and one of the key arteries of the global economy.

The country’s young and growing population of around 110 million people is the largest in the Middle East and North Africa region and represents a hugely important consumer market with significant opportunities for UK businesses supplying goods and services.

The British government through the Department for Business & Trade believes that there are great prospects for enhancing UK-Egyptian business across sectors and has listed growing opportunities in some key areas, such as:

Infrastructure

Construction makes a major contribution towards the growth in the Egyptian economy with new residential developments and industrial zones at various stages of development as well as new tourist infrastructure providing various opportunities for UK investors, expertise and exporters alike. Opportunities for doing business are opened up by planned investment in improved transport infrastructure around the country such as ports facilities and upgrades to the national rail network, among other projects. Public-private partnership projects in water infrastructure also offer greater opportunities, alongside the development and expansion of wastewater treatment plants and desalination facilities needed to meet

rising public demand for services.

Oil & Gas

A range of opportunities exist in the important Egyptian oil and gas sector, including in exploration and field development, new refineries and petrochemicals projects. There are also requirements for operations and maintenance services and support with capability and capacity building, skills training and areas related to sustainable development.

Education

Education and training for the country’s young population are major priorities for the Egyptian government and innovation is needed at all levels. British education is highly respected, and foreign participation is welcomed in all areas of the country’s education, with technology and vocational education uppermost. Private schooling and independent universities are increasingly popular.

“A new era of higher education partnership between the UK and Egypt” was hailed following a high-level delegation from the UK to Egypt in February 2025. During their visit from 16-18 February, the UK delegation met with Ain Shams University, and European Universities in Egypt (EUE) and New Cairo Technological University, to

explore the potential for forging new collaboration initiatives between the two countries.

“Over the course of three enriching days, the education team in Egypt led a higher education mission that was launched in the New Administrative Capital, under the patronage of the Minister of Higher Education through the Supreme Council of Universities and the Egyptian Bureau for Cultural and Educational Affairs in London in collaboration with the British Council in Egypt, and the support of the British Embassy,” stated Heba ElZein, director of education at the British Council in Egypt.

The strong British delegation comprised representatives from some of the country’s leading universities, including Sheffield Hallam, Loughborough, Essex, East Anglia, Exeter, and Chester.

Healthcare

In healthcare there is increasing demand for better services and medicines from the country’s population and their growing health awareness. The increase in the need for health services and the widening of access to facilities present opportunities for UK firms with relevant expertise to satisfy the need for goods, services and training in both urban and rural areas of the country.

The DBT states, “UK companies will find opportunities in projects relating to hospital construction and design, medical training and IT consultancy for the new healthcare framework and institutes.”

Energy

Egypt is a prime location for the development and expansion of renewable energy facilities making use of latest technologies and with an abundance of land available for renewable energy companies to establish sites. Central to Egypt’s Vision 2030 is the strategic initiative to transition from fossil fuels to focusing on wind and solar energy. The country’s climate is seen to be perfect for a thriving renewables sector and especially for wind and solar farms. The steady rise in population means that demand for energy can only increase in future.

Investment in renewables not only offers environmental benefits for Egypt but also social and economic advantages too, such as reducing carbon emissions and creating new jobs in the green industries. UK firms with demonstrable expertise in renewables can make a major contribution towards meeting Egypt’s energy objectives. >>>

Latest data on bilateral trade Egypt and the UK enjoy close relations, and growing bilateral trade is regarded as a priority for both countries. Both the UK and Egypt are committed towards strengthening their bilateral relationship through mutually beneficial development partnerships.

Total trade in goods and services (exports plus imports) between the UK and Egypt was £4.7 billion in the four quarters to the end of Q3 2024, an increase of 2.6% or £118 million in current prices from the four quarters to the end of Q3 2023, as outlined in the Department for Business & Trade’s factsheet on trade with Egypt.

Of this £4.7 billion:

• Total UK exports to Egypt amounted to £2.7 billion in the four quarters to the end of Q3 2024 (an increase of 6.6% or £169 million in current prices, compared to the four quarters to the end of Q3 2023);

• Total UK imports from Egypt amounted to £2.0 billion in the four quarters to the end of Q3 2024 (a decrease of 2.5% or £51 million in current prices, compared to the four quarters to the end of Q3 2023).

Egypt was the UK’s 48th largest trading partner in the four quarters to the end of Q3 2024 accounting for 0.3% of total UK trade.

In 2023, the outward stock of foreign direct investment (FDI) from the UK in Egypt are not available due to data disclosure. In 2023, the inward stock of foreign direct investment (FDI) in the UK from Egypt was £621 million, or £593 million higher than in 2022.

In 2023, Egypt accounted for less than 0.1% of the total UK inward FDI stock.

UK-Egypt association agreement

An association agreement between the UK and Egypt came into effect following the UK’s withdrawal from the European Union (Brexit). The UK government has issued guidance on aspects of trade covered by this agreement for UK businesses trading with Egypt.

The association agreement includes such provisions as:

• trade in goods - including provisions on preferential tariffs, tariff rate quotas and rules of origin

• trade in services

• sanitary and phytosanitary measures

• intellectual property rights

• government procurement

The association agreement strengthens UK cooperation with Egypt in the trading environment and covers elements that were previously embodied in the EU-Egypt Association Agreement.

UK-Egypt tariff rates on goods

Tariff rates for bilateral trade in goods between the UK and Egypt continue to apply as set out in the association agreement. However, in some cases, the Department for Business and Trade advises, the non-preferential applied rates may be lower because of changes in the UK’s Most Favoured Nation tariff schedule.

Using EU materials and processing in exports to Egypt

The DBT advises British exporters that they can still use EU materials or processing in their exports to Egypt. The UK and Egypt must have fulfilled the necessary requirements set out in the Rules of Origin Protocol. Exporters must also ensure the working or processing done in the UK goes beyond the minimal operations listed in the agreement and that the other relevant conditions are met.

Using materials and/or processing from other countries in your exports to Egypt

If both the UK and Egypt has an agreement with one of the other countries provided for in the Rules of Origin Protocol, exporters can continue using materials, and in some cases processing, from that country in exports to Egypt, according to the DBT.

Sending goods to Egypt through the EU and other countries Goods transited through the EU –and any other country with whom cumulation is applicable – are not subject to the same restrictions as those in transit through other third countries.

For example, exporters can split a consignment in the EU when exporting goods to Egypt, provided the goods comprising the consignment have not been entered into free circulation in the EU.

Transit through any other third country is possible provided goods remain under customs surveillance and do not undergo operations other than unloading, reloading or any operation designed to preserve them in good condition.

For the most up-to-date advice on exporting to Egypt companies should contact the DBT.

https://www.gov.uk/government/ organisations/department-for-businessand-trade#org-contacts

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Why Investors Should Dig Deeper into

Egypt is quietly staging a mining comeback — and investors would be wise to pay attention. With an abundance of untapped mineral wealth, bold government reforms, and increasing international collaboration, the country is positioning itself as a global player in the mining sector. British companies, in particular, are emerging as strategic partners — and the timing couldn’t be better.

Unlocking Potential: Reforming a Historic

Industry

Although rich in resources, Egypt’s mining sector has long contributed just 1% to its GDP. That’s changing. The government has committed to raising this figure to 5% by 2030, and the reform programme in place reflects this ambition.

At the heart of this shift is the establishment of a new Egyptian Mineral Resources and Mining Industries Authority, intended to replace the existing regulator and streamline operations. This is part of a larger framework to create a more investorfriendly climate — one that reduces red tape and aligns with international standards.

Another major initiative is the Egypt Digital Mining Platform, scheduled for launch in 2025. Designed to increase transparency, simplify licensing, and attract global investors, the platform signals a digital transformation in how Egypt does business in mining.

Strategic Projects and Major Players

Egypt isn’t just talking — it’s acting. Major global players are already on board. AngloGold Ashanti, one of the world’s leading gold producers, has significantly increased its footprint in Egypt, including a recent $150 million investment Its interest follows the success of Egypt’s flagship Sukari Gold Mine, a modern operation originally developed by Centamin and now among the region’s top producers.

British companies are taking note. In 2024, the British Egyptian Business Association (BEBA) facilitated high-level talks between Egypt’s Minister of Petroleum and major UK-based investors. This led to a series of Memoranda of Understanding with the likes of Barrick Gold, Aton Resources Inc., and AngloGold Ashanti, signalling confidence in Egypt’s stable regulatory and business environment.

Meet the Newcomer: Aton Resources and the Rodruin Project

A standout in this new landscape is Aton Resources Inc., a Canadianlisted and UK-backed junior exploration company with a strong foothold in Egypt’s Eastern Desert. Aton’s flagship project, Rodruin, is located within the Abu Marawat Concession, an area rich in polymetallic mineralisation and ancient workings.

Rodruin has quickly gained attention for its high-grade near-surface gold mineralisation, with recent drilling confirming strong results and expansion potential. Aton aims to fast-track the project toward production, and is also progressing exploration at nearby prospects within its concession. The company’s presence reinforces the growing trend of smaller, agile explorers bringing fresh momentum to Egypt’s mining scene — particularly those with a mix of British financial backing and operational expertise.

into Egypt’s Gold Mines

Still Untapped: The Desert’s Secret Riches

What makes Egypt even more compelling is what hasn’t yet been discovered. The Eastern Desert and Sinai host over a thousand ancient mining sites, with much of the territory remaining untouched by modern exploration techniques.

These historical mining areas focused largely on visible surface veins, meaning surrounding zones — particularly alteration zones — were ignored. Today, these areas represent a new frontier for discovery, offering high potential for the application of geophysical surveys, AI mapping tools, and precision drilling.

Why the UK Should Keep Digging

The UK’s deep technical expertise, financing capabilities, and robust mining service sector make it a natural partner for Egypt. With the government now actively removing barriers, streamlining approvals, and modernising geological data, Egypt is opening its doors wider than ever before.

Moreover, Egypt’s strategic location offers British firms access not only to the domestic market but to fastgrowing regions across Africa, the Middle East, and beyond

This is a market where legacy meets opportunity — and the gold beneath the sand may just be the start.

Sources

Arab Finance. Egypt’s Mining Sector Receives Boost from AngloGold Ashanti and British Partnerships.

https://www.arabfinance.com/News/ newdetails/8014

BEBA – British Egyptian Business Association. Unlocking Egypt’s Mining Potential. https://beba.org.eg/sectoral-mission-june2023-unlocking-egypts-mining-potential

Egypt State Information Service. Enhancing Attractiveness of the Mining Sector for Investment. https://sis.gov.eg/Story/206655

Aton Resources Inc. Rodruin Project Overview. https://www.atonresources.com/projects/ rodruin

Mining.com. Ancient Gold Mines Offer Clues on Egypt’s Untapped Mineral Deposits. https://www.mining.com/egypt-ancientgold-mines-offer-clues-on-countrysuntapped-vast-mineral-deposits

Wikipedia. Mining Industry of Egypt –Historical Context and Prospects. https://en.wikipedia.org/wiki/Mining_ industry_of_Egypt

The Future Runs Through Cairo: A Strategic Partnership for the Next Generation

As

the world navigates a turbulent energy landscape, Egypt is emerging as a key player in the global oil and gas sector — and the UK is taking notice. In recent years, strategic collaboration between Cairo and London has deepened, driven by mutual interests in energy security, economic growth, and sustainable development.

With abundant hydrocarbon reserves and a rapidly modernising regulatory framework, Egypt is positioning itself not only as a North African energy hub, but also as a dependable partner for global investors — particularly those from the UK.

A Partnership Rooted in Opportunity

The UK and Egypt have long-standing diplomatic and trade ties, but energy cooperation has gained new momentum. In January 2025, during the International Mining and Resources Conference in Riyadh, Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, met with UK Industry Minister Sarah Jones. The two reaffirmed their commitment to deepen collaboration in oil, gas, and mining — sectors critical to both countries’ economic futures.

This alliance builds on decades of British investment in Egypt’s energy sector,

particularly through multinationals like BP, which has operated in the country for over 60 years. As recently as 2024, BP announced a $1.5 billion plan to expand its operations in Egypt, reaffirming its confidence in the market’s potential.

New Exploration, New Horizons

Egypt’s ambition to become a regional energy powerhouse took a step forward in March 2025, when the government launched a fresh licensing round covering 13 exploration blocks across the Gulf of Suez, Eastern Desert, and Western Desert. These areas are geologically promising and strategically located, making them highly attractive to international companies.

British firms, with their extensive technical expertise and operational history in Egypt, are well-positioned to lead in these new zones. This isn’t just about finding

oil — it’s about fostering long-term partnerships, transferring knowledge, and building sustainable infrastructure.

Securing the UK’s Energy Future

The importance of the UK-Egypt partnership becomes even more apparent when viewed against the backdrop of the shifting global energy map. The ongoing conflict between Russia and Ukraine has significantly disrupted European energy supplies, forcing the UK and its allies to rethink their dependencies and diversify sources.

While renewables remain a vital part of the UK’s long-term energy strategy, natural gas — especially liquefied natural gas (LNG) — continues to play a critical role in ensuring energy security in the near to medium term. Egypt, with its established LNG export infrastructure and strategic location, provides the UK with

an alternative supply route that reduces reliance on politically unstable regions.

As a result, energy cooperation with stable, reform-minded countries like Egypt is not just a commercial decision — it’s a geopolitical necessity.

Reforms Designed to Attract Global Investment

A major reason for Egypt’s growing appeal lies in the government’s comprehensive reform programme. The Ministry of Petroleum and Mineral Resources has worked closely with international advisors and energy majors to modernise its investment framework. These reforms include more transparent bidding processes, updated production-sharing contracts, and streamlined licensing regulations.

Crucially, the government has also taken steps to liberalise its natural gas market — a move that allows private companies more freedom to import, export, and sell gas within the country. Such reforms are making Egypt not only more competitive, but also more resilient in the face of global energy volatility.

A Win-Win for Egypt and the UK

For Egypt, the benefits are clear: increased foreign investment, technological know-how, job creation, and a strengthened position as a regional energy hub. But the UK stands to gain significantly as well.

As Britain diversifies its energy partnerships beyond Europe and the North Sea, Egypt offers a stable and strategically located ally with deep reserves and growing export capacity. In a time of heightened geopolitical tension, securing reliable and ethical sources of energy has never been more urgent.

Moreover, collaboration in energy dovetails with broader UK-Egypt cooperation in education, climate adaptation, and economic reform, as seen in the British support for Egypt’s Vision 2030 agenda.

The Case for Doubling Down

In a world increasingly defined by energy uncertainty, investing in Egypt’s oil and gas sector is more than just a profitable opportunity — it’s a strategic imperative. The UK’s continued engagement can help shape the energy transition in a way that’s secure, sustainable, and mutually beneficial.

Egypt has made its intentions clear: it wants trusted partners, transparent processes, and transformative projects. For British investors, the message is equally clear — now is the time to step in, scale up, and shape the future of energy in the Eastern Mediterranean.

Sources:

Egypt Oil & Gas: Egypt, UK Affirm Commitment to Boosting Cooperation

https://www.egyptoil-gas.com/news/ egypt-uk-affirm-commitment-to-boostingcooperation/​

World Oil: Egypt Launches New Licensing Round https://worldoil.com/news/2025/3/10/ egypt-launches-new-licensing-round-toboost-exploration-production-prospects/

Reuters: BP to Invest $1.5bn in Egypt https://www.reuters.com/business/ energy/bp-plans-invest-15-billion-egyptbloomberg-news-reports-2024-02-28/

Egypt Oil & Gas: A Year of Progress in Egypt’s Energy Sector https://egyptoil-gas.com/

US International Trade Administration: Energy Resource Guide – Egypt https://www.trade.gov/energy-resourceguide-egypt-oil-and-gas

Green Hydrogen

Fuel for the Future: Egypt’s Green Hydrogen Ambitions

As the global energy transition gathers pace, green hydrogen is being widely explored as a key tool to decarbonise hard-to-abate sectors such as heavy industry, maritime transport and power generation. With the global hydrogen market projected to exceed $600 billion by 2050, countries rich in renewable resources are positioning themselves to meet anticipated international demand.

Egypt, with its substantial solar and wind capacity, strategic location on major trade routes, and commitment to climate targets, is among the nations seeking to become a significant player in the green hydrogen economy. For UKbased investors and developers, Egypt’s emerging hydrogen sector offers opportunities for strategic engagement in a growing market.

A National Strategy Backed by Incentives

In August 2024, Egypt officially launched its National Strategy for Low-Carbon Hydrogen, designed to stimulate hydrogen production and exports. The strategy sets out plans to attract investment, support domestic job creation, and enable Egypt to become a competitive exporter of green hydrogen and derivatives such as ammonia and methanol. The government estimates the strategy could add approximately $18 billion to Egypt’s GDP by 2040 and create over 100,000 jobs during that period12.

To encourage investment, Egypt has introduced a suite of fiscal and regulatory incentives. These include income tax rebates of up to 55% on profits derived from hydrogen-related projects, VAT exemptions on equipment and materials required for production, and a 0% export VAT on hydrogen and its derivatives34. These measures are part of wider reforms aimed at making the country an attractive destination for energy infrastructure investment.

A Strategic Fit with Europe’s Energy Plans

Egypt’s hydrogen plans align with the European Union’s REPowerEU strategy, which includes a target to import up to 10 million tonnes of renewable hydrogen annually by 20305. As a Mediterranean country with a favourable cost structure and proximity to European markets, Egypt is well-positioned to serve as a key partner in Europe’s shift away from fossil fuels.

UK–Egypt Investment Ties

The United Kingdom remains one of Egypt’s largest foreign investors, with total UK investment reaching $21.5 billion as of June 2024, according to the Egyptian Cabinet Information and Decision Support Center6. These investments span sectors including energy, telecommunications and financial services, and provide a strong base for expanding bilateral cooperation into green hydrogen.

UK energy major BP has partnered with the UAE’s Masdar, Hassan Allam Utilities and Infinity Power in Project Kemet, a green hydrogen development in Egypt. BP serves as lead operator for the project, which is designed to supply hydrogen to both domestic and export markets7. The project reflects the growing interest from UK-based firms in Egypt’s renewable energy potential.

Challenges Remain

Despite the promising outlook, challenges persist. The cost of building green hydrogen infrastructure remains high, and Egypt continues to face macroeconomic headwinds, including inflation, currency volatility and complex permitting procedures. A notable example is the cancelled $945 million deal between UK-listed Energean and Carlyle in March 2025, which cited regulatory delays among the reasons for withdrawal8

To mitigate such risks and improve project bankability, Egypt is working with multilateral development banks such as the European Bank for Reconstruction and Development (EBRD). These institutions are supporting blended finance models and risk-sharing mechanisms for large-scale energy investments9.

Conclusion

Egypt’s ambitions to become a regional leader in green hydrogen are backed by strong renewable resources, a growing package of policy incentives, and strategic alignment with European and UK climate priorities. While significant challenges remain, particularly around infrastructure and regulatory clarity, the foundations are being laid for Egypt to emerge as a meaningful player in the global hydrogen economy. For UK investors committed to energy transition goals, Egypt offers a potentially valuable and strategically located partner.

Sources

1. “Hydrogen Strategy expected to boost Egypt’s GDP to around $18B by 2040,” Egypt Today, 28 August 2024. https://www.egypttoday.com

2. “Egypt’s National Strategy for Low-Carbon Hydrogen to boost Egypt’s GDP,” Business Today Egypt, 28 August 2024. https://www.businesstodayegypt.com

3. “Law introduces incentives for green hydrogen production projects,” Deloitte Tax@Hand, March 2024. https://www.taxathand.com

4. “Egypt: New Incentives for Green Hydrogen Projects,” Global Compliance News, 18 March 2024. https://www.globalcompliancenews.com

5. “EU Hydrogen Strategy and REPowerEU Plan,” Enerdata, accessed March 2025. https://www.enerdata.net

6. “British investments in Egypt reach $21.5bn in June 2024,” Daily News Egypt, 8 September 2024. https://www.dailynewsegypt.com

7. “Project Kemet: A Landmark Green Hydrogen Partnership,” Masdar, 2024. https://masdar.ae

8. “UK’s Energean terminates $945 mln Carlyle deal,” Reuters, 21 March 2025. https://www.reuters.com

9. “Development Finance Takes Step Forward on Green Hydrogen,” Green Hydrogen Organisation, 2024. https://gh2.org

A Monumental Legacy: The Grand Egyptian Museum Prepares to Open

After more than two decades of planning and construction, Egypt is preparing to inaugurate the Grand Egyptian Museum (GEM), a landmark development located on the edge of the Giza Plateau. Scheduled to open on 3 July 2025, the GEM will be the largest archaeological museum in the world and a cornerstone of Egypt’s renewed cultural and tourism strategy1.

Architectural Dialogue with Antiquity

The Grand Egyptian Museum is situated approximately two kilometres from the Great Pyramid of Giza. Designed by Dublin-based Heneghan Peng Architects, the building spans over 480,000 square metres and was conceived to harmonise with its historic setting. The design includes a translucent stone façade and a triangular form that aligns with the nearby pyramids, integrating contemporary architecture with ancient geometry 2

At the heart of the museum’s grand atrium stands a 3,200-year-old statue of Ramses II, which was relocated from Ramses Square in Cairo in 2018. The statue’s transfer and installation marked one of the project’s most significant milestones and symbolises the museum’s ambition to merge monumental antiquity with modern curatorial practices3

An Unprecedented Collection

When fully operational, the GEM will house more than 100,000 artefacts, making it

the world’s largest museum dedicated to a single civilisation. Approximately 5,000 items from the tomb of Tutankhamun will be on display together for the first time, including his famous gold funerary mask, ceremonial chariots and intricate jewellery4

The museum’s curatorial approach combines traditional exhibition techniques with modern technology. Interactive displays and immersive digital experiences aim to enhance engagement and accessibility, especially for younger and international audiences5

The Grand Egyptian Museum

A Complex Journey to Completion

The concept for the museum was first announced in 2002, and construction began in earnest in 2005. Over the years, the project faced a series of delays due to political instability, economic factors, and the scale of the undertaking. Despite these challenges, key progress continued, including a soft opening in late 2024 which gave visitors access to select galleries6

The total cost of the project is estimated at over $1 billion, with funding provided through a combination of Egyptian government allocations and international loans, including support from the Japan International Cooperation Agency (JICA)7

Cultural and Economic Impact

The Egyptian government views the GEM as a strategic driver for cultural diplomacy and economic growth. Located near one of the world’s most iconic heritage sites, the museum is expected to strengthen Egypt’s global cultural profile and significantly boost tourism. Officials estimate that the GEM could attract up to five million

visitors annually in the years following its full opening8

The museum will also support ongoing archaeological research, conservation work, and educational outreach. It includes one of the largest antiquities conservation centres in the world and is intended to serve as a training and research hub for Egyptologists and heritage professionals9

Conclusion

As Egypt prepares for the formal opening of the Grand Egyptian Museum, the project stands as a remarkable fusion of past and present. While its completion has been long delayed, the scale, ambition, and significance of the GEM remain undisputed. It not only offers a new lens through which to view one of the world’s oldest civilisations, but also reaffirms Egypt’s role as a global custodian of cultural heritage.

Sources

1. Wanderlust Magazine, “Opening Date for the Grand Egyptian Museum Confirmed,” February 2025.

https://www.wanderlustmagazine.com/ news/grand-egyptian-museum-openingdate

2. Heneghan Peng Architects, “The Grand Egyptian Museum.” https://www.hparc.com/work/the-grandegyptian-museum

3. National Geographic, “Colossal Ramses II Statue Finds a New Home at the Grand Egyptian Museum,” 2018. https://www.nationalgeographic.com

4. The Jerusalem Post, “Tutankhamun’s Full Collection to Be Displayed for the First Time,” January 2025. https://www.jpost.com

5. The Art Newspaper, “Grand Egyptian Museum Partially Opens—But Tutankhamun Gallery Remains Closed,” October 2024. https://www.theartnewspaper.com

6. Arab Gulf Business Insight (AGBI), “Egypt Bets on $1bn Grand Museum to Boost Tourism,” February 2025. https://www.agbi.com

7. Japan International Cooperation Agency (JICA), “Egypt: Grand Egyptian Museum Project.” https://www.jica.go.jp

8. AGBI, op. cit.

9. Smithsonian Magazine, “Inside the Massive Conservation Centre of the Grand Egyptian Museum,” accessed March 2025. https://www.smithsonianmag.com

UNESCO for the people : Khaled El-Enany’s bid to transform UNESCO

As UNESCO celebrates its 80th anniversary, Professor Khaled El-Enany emerges as a compelling candidate to lead the organization. A former Egyptian Minister of Tourism and Antiquities (2016–2022), he brings a fresh perspective and a results-driven approach. His mission: to revitalize UNESCO by reconnecting it with its core purpose—building peace through tangible impact for people worldwide.

For El-Enany, UNESCO’s mission extends far beyond cultural stewardship. It is about bringing the institution closer to the everyday realities of people — especially in regions where challenges around education, cultural preservation, and the environment are pressing. While he has never held a formal post within UNESCO, El-Enany is no stranger to the organization. As Egypt’s Minister of Tourism and Antiquities, he oversaw the opening of the National Museum of Egyptian Civilization — a project made possible through close collaboration with UNESCO. That experience, he says, gave him firsthand insight into the organization’s operational challenges from the perspective of member states, reinforcing his belief: “Being an outsider is a strength,” he insists. “It’s precisely because I know what it feels like to be

on the other side that I can drive change while staying connected to realities on the ground.” His vision includes strengthening UNESCO’s regional offices, decentralizing its actions to better serve areas where needs are greatest — particularly in Africa and among Small Island Developing States, where the impacts of climate change and pressing economic and educational challenges demand urgent actions.

His career reflects a rare ability to transform culture into a true instrument of diplomacy. During his tenure, Egypt organized more than a dozen major exhibitions around the world, fostering international exchange even in the face of complex geopolitical challenges. This hands-on experience now shapes his vision for a stronger cultural diplomacy

within UNESCO — one that can help ease global tensions by prioritizing technical and cultural dialogue over political polarization.

Buoyed by this background, Khaled El-Enany now enjoys strong political backing from both the African Union and the League of Arab States. His candidacy has also received public support from several countries, including France, Brazil, Spain, Türkiye, and Gabon, positioning him as one of the rare contenders capable of transcending regional divides. This growing international momentum highlights his unifying profile — a quality seen as essential to restoring the organization’s effectiveness and impartiality.

More than that, Khaled El-Enany intends to make transparency a cornerstone of his mandate, viewing it as essential to strengthening UNESCO’s effectiveness, credibility and responsibility. Fully aware of persistent criticism regarding the organization’s politicization, he is determined to restore complete impartiality. “UNESCO must remain vigilant against any attempt by a single country or group to exert undue influence,” he says, emphasizing the need for fair and inclusive management of international affairs. To that end, he proposes an open, participatory form of governance, by strengthening the role of field offices and empowering them to act with greater autonomy and agility, ensuring decisions and daily project management are aligned with local needs and realities. He also plans to introduce transparent monitoring systems and advanced digital tools to foster greater responsiveness and enable objective evaluation of the real-world impact of UNESCO’s initiatives. In an increasingly

tense geopolitical climate, this ability— and clear desire—to unite carries particular weight.

This pursuit of impartiality and dialogue echoes UNESCO’s core mission: promoting peace around the world. According to El-Enany, these principles of exchange and openness must extend beyond diplomatic circles and take root in education. With more than three decades dedicated to teaching, he views young people as the true drivers of global peace. For him, the quality of education goes far beyond the simple transmission of knowledge — it is about shaping enlightened citizens, capable of debating, questioning without conflict, and respecting differences.

“Measuring educational quality,” he explains, “requires looking beyond enrollment rates or gender parity statistics. It also means evaluating how education systems foster debate, critical thinking, and a culture of peace.” In his view, a strong education system must be inclusive, capable of reducing inequality, and opening doors for the most disadvantaged. UNESCO, he believes, should support states with precise monitoring tools, the sharing of best practices, and the creation of spaces for dialogue to encourage necessary educational reforms. It is a global, committed vision of education that he intends to champion — convinced that shaping free and responsible minds is the most lasting path to peace.

Khaled El-Enany knows that no bold reform or ambitious policy can succeed without a sound financial strategy. Drawing on his experience leading Egypt’s Ministry of Tourism and Antiquities — where he oversaw complex budgets — he understands the critical importance of disciplined fiscal management. At UNESCO, he plans to confront the institution’s chronic funding shortfalls, which often limit the ambitions of member states, particularly the least developed. His approach centers on diversifying funding sources and forging stronger publicprivate partnerships— a constituency he believes has long been overlooked, despite its crucial role in driving progress on the ground. El-Enany envisions a new era of transparent collaboration, convinced that closer ties with business will amplify UNESCO’s impact and ability to respond to today’s global challenges.

Transparency, he insists, is key to building donor confidence. To that end, he proposes a sophisticated digital platform that would track financial contributions in real time, offering clear and accountable reporting. Mobilizing

resources, for him, is not merely a managerial priority—it primarily enables UNESCO to deliver tangible outcomes in education, cultural preservation, and peacekeeping worldwide. But it also provides the essential groundwork to leverage scientific advances, digital tools, and artificial intelligence, further amplifying the organization’s impact and effectiveness.

Indeed, he envisions UNESCO at the forefront of technological progress, harnessing scientific innovation, with artificial intelligence at its core. For ElEnany, open and collaborative science represents a powerful opportunity to democratize access to knowledge and bridge scientific divides across the globe.

Within this vision, artificial intelligence could transform the preservation of world heritage, allowing for faster, more effective responses to climate threats endangering historic sites. But technology, he argues, must serve

all — not just the well-connected. He pledges to invest in digital infrastructure, expand access to quality education, and equip teachers and local actors with the tools they need. Beyond bridging the digital divide, he envisions a UNESCO that fosters open science and broadbased innovation — empowering all communities to access knowledge, fuel progress, and contribute to a more just and sustainable world.

With a candidacy that is both unconventional and firmly grounded in recognized expertise, Khaled El-Enany calls on UNESCO’s member states to fundamentally rethink the institution’s role and future. It is a bold — but necessary — proposition at a moment when the organization must prove, more than ever, its ability to meet global challenges headon and to deliver meaningful action for a safer, fairer world.

His website is https://khaledelenany.com/

Egypt Is Open for Business –But Are You Ready?

A Practical Guide to Regulation, Tax and Compliance for UK SMEs and Corporates

As UK companies continue to explore overseas growth, Egypt is drawing increasing interest. Whether you’re a growing SME looking to break into new markets, or a larger corporate expanding your regional footprint, Egypt presents a unique mix of opportunity and complexity.

The country’s geographic position, youthful labour force and steady economic reforms make it a promising launchpad into both Africa and the Middle East. But it’s not a plug-and-play market. Success in Egypt requires a clear understanding of its regulatory, tax and compliance landscape—and a strategy that’s tailored to your business size and structure.

A Climate of Reform - but Detail Matters

Egypt’s business environment has evolved significantly over the past decade. Reforms such as the Investment Law No. 72 of 2017 were introduced to simplify company formation and offer incentives to foreign investors¹. More recently, the Golden Licence system was launched to fast-track strategic investments by consolidating approvals into a single application².

For corporates, these developments may align with long-term planning around manufacturing, logistics or regional headquarters. For SMEs, the ability to enter the market more efficiently— with fewer bureaucratic hurdles—is particularly valuable. However, navigating the day-to-day processes still requires in-country know-how, from labour laws to licensing authorities.

Tax Considerations: What You Need to Know

Understanding Egypt’s tax system is critical for financial planning and compliance. The country has moved closer to global standards, but it still retains features that may be unfamiliar to UK-based companies.

• Corporate income tax is charged at a flat 22.5% rate³. This applies to both SMEs and large corporates, though certain industries—such as oil and gas—face higher rates.

• VAT is levied at a general rate of **14%**⁴. For manufacturers, machinery and production equipment may qualify for a reduced rate.

• Withholding taxes on dividends range from 5% to 10%, with possible reductions under the UK-Egypt double taxation agreement⁵.

• Stamp duty may apply to contracts and financial transactions.

Egypt is also rolling out mandatory e-invoicing, which can present system

and training challenges—particularly for smaller firms without established finance departments.

For SMEs, these tax and reporting obligations can feel heavy without the right support in place. Larger corporates, while better resourced, must ensure their Egyptian operations align with global reporting structures and transfer pricing compliance.

Compliance and Operations: A Closer Look

Whether you’re hiring a team in Cairo or setting up a joint venture, there are common compliance requirements all businesses face:

• Financial reporting must follow Egyptian Accounting Standards, submitted annually to the relevant tax and investment authorities⁶.

• Social insurance registration is mandatory for employees, and HR policies must align with local employment laws.

• Transfer pricing rules require documentation of related-party transactions—something that corporates will be familiar with, but that can easily catch SMEs off-guard⁷.

• Beneficial ownership registration and adherence to anti-money laundering standards are non-negotiable across all sectors.

For SMEs, the main challenge is managing these obligations while trying to grow at pace. For corporates, it’s about harmonising local compliance with international systems, avoiding inefficiencies or duplicated efforts.

Getting the Right SupportFrom Day One

Whatever your size, the risks of noncompliance in a foreign market can’t be understated. Errors in tax filing, HR documentation or corporate reporting can lead to fines or delays that damage growth plans and investor confidence.

That’s why many businesses choose to work with professional service providers who specialise in cross-border regulatory and operational support. From entity setup to payroll, VAT registration to ongoing compliance, the right local experts can help businesses— especially SMEs—scale safely and sustainably.

Tax and Compliance

For corporates, outsourcing backoffice functions to specialists ensures consistency, cost efficiency, and risk mitigation—especially when overseeing multiple markets.

Final Thoughts

Egypt’s market is vibrant, ambitious and increasingly open to international partnerships. For UK SMEs, it offers an exciting route to scale abroad. For corporates, it’s a key node in broader regional strategy. But real success here comes not just from opportunity—but from preparedness.

By understanding Egypt’s legal and fiscal frameworks—and investing in the right support—UK companies of all sizes can unlock long-term, compliant growth in one of the most strategically placed economies in the region.

References

United Nations ESCWA SME Portal – Egypt Tax and Legal Guide https://smeportal.unescwa.org/sites/ default/files/2019-12/egypt-tax-and-legaldoing-business-guide.pdf

UK Government – Overseas Business Risk: Egypt

https://www.gov.uk/government/ publications/overseas-business-risk-egypt/ overseas-business-risk-egypt

UK Government – Egypt Trade and Export Guide

https://www.gov.uk/government/ publications/exporting-to-egypt/doingbusiness-in-egypt-egypt-trade-and-exportguide

DLA Piper – Going Global: Corporate Tax in Egypt

https://www.dlapiperintelligence. com/goingglobal/corporate/index. html?c=EG&t=05-tax-presence

PwC Tax Summaries – Egypt Corporate Tax Guide

https://taxsummaries.pwc.com/egypt/ corporate/withholding-taxes

TMF Group – Doing Business in Egypt

https://www.tmf-group.com/en/locations/ middle-east-africa/egypt/

PwC Tax Summaries – Egypt Transfer Pricing https://taxsummaries.pwc.com/egypt/ corporate/group-taxation

Bridging the Cybersecurity Divide: A Strategic UK–Egypt Alliance for Digital Resilience

Cybersecurity has evolved into a critical national and economic concern, transcending traditional IT boundaries. As cyber threats grow in complexity and frequency, nations worldwide are grappling with a significant shortage of skilled cybersecurity professionals. This skills gap is particularly evident in both the United Kingdom and Egypt, presenting an opportunity for strategic collaboration to enhance digital resilience.

The UK’s Cybersecurity Landscape

The United Kingdom faces substantial cybersecurity challenges, notably within its public sector. A report by the National Audit Office (NAO) in January 2025 highlighted severe and escalating cyber threats, exacerbated by a shortage of skilled personnel. In the 2023–24 period, one in three cybersecurity roles in government departments were either vacant or filled by temporary staff, with some departments experiencing vacancy rates exceeding 50%. This shortage hampers the government’s ability to bolster cyber resilience effectively.

High-profile cyber incidents have underscored these vulnerabilities.

In October 2023, the British Library suffered a ransomware attack that disrupted services and compromised sensitive data. The institution is projected to allocate approximately £6–7 million, representing about 40% of its financial reserves, for recovery efforts. citeturn0search5 Similarly, in January 2023, Royal Mail experienced a ransomware attack attributed to the LockBit group, resulting in recovery costs of around £10 million.

To address these challenges, the UK government has initiated programmes such as CyberFirst, led by the National Cyber Security Centre (NCSC). Established in 2015, CyberFirst aims to identify and nurture young talent in cybersecurity through courses, competitions, and development schemes. citeturn0search18 Despite

these efforts, the scale of the skills shortage necessitates broader strategies, including international collaboration.

Egypt’s Digital Transformation and Cybersecurity Challenges

Egypt is rapidly advancing as a digital hub in the Middle East and Africa, driven by initiatives like the Digital Egypt Builders Initiative (DEBI). Launched to empower graduates in engineering and computer science, DEBI offers advanced training in fields such as cybersecurity, artificial intelligence, and data science, in partnership with global technology firms.

However, this digital expansion has heightened Egypt’s exposure to cyber threats. The country’s cybersecurity market is projected to grow from USD 247.64 million in 2025 to USD 444.08 million by 2030, reflecting the increasing demand for cybersecurity solutions. citeturn0search17 Despite this growth, a significant skills gap persists. The National Telecommunication Institute (NTI) has partnered with EC-Council to offer internationally recognised certifications in areas such as ethical hacking and network security, aiming to bolster the nation’s cybersecurity workforce.

Potential Areas for UK–Egypt Collaboration

A strategic partnership between the UK and Egypt could focus on several key areas:

1. Knowledge Exchange Programmes

• Facilitate internships for Egyptian students within UK cybersecurity firms to gain practical experience.

• Deploy UK professionals to deliver training sessions in Egypt, enhancing local expertise.

• Collaborate on research initiatives exploring advanced cybersecurity solutions, including artificial intelligence applications.

2. Joint Certification and Training

• Extend the UK’s CyberFirst programme to Egyptian universities, adapting its framework to local contexts.

• Develop joint apprenticeship schemes accredited by both the NCSC and Egypt’s NTI, ensuring mutual recognition of qualifications.

3. Remote Cybersecurity Operations

• Enable UK companies to employ skilled Egyptian cybersecurity professionals remotely, addressing workforce shortages cost-effectively.

• Provide Egyptian experts with exposure to international cybersecurity operations and standards.

4.Government and Industry Partnerships

• Encourage UK cybersecurity firms to invest in training centres in Egypt, fostering local talent development.

• Support Egyptian startups in co developing cybersecurity solutions with UK research institutions, promoting innovation.

• Establish a joint cybersecurity think tank to monitor emerging threats and devise coordinated response strategies.

Conclusion

Both the UK and Egypt face pressing cybersecurity skills shortages that threaten their digital infrastructures. By forging a strategic alliance focused on education, training, and collaborative operations, both nations can enhance their cyber resilience. Such a partnership would not only address immediate workforce gaps but also lay the

Cybersecurity

foundation for sustained digital security in an increasingly interconnected world.

Sources

National Audit Office, “Cyber threat to UK government is severe and advancing quickly,” January 2025.

https://www.nao.org.uk/press-releases/ cyber-threat-to-uk-government-issevere-and-advancing-quickly-spendingwatchdog-finds/

British Library, “Learning lessons from the cyber-attack,” March 2024. https://blogs.bl.uk/livingknowledge/2024/03/learning-lessons-fromthe-cyber-attack.html

Computer Weekly, “Royal Mail spent £10m on cyber measures after the LockBit attack,” November 2023.

https://www.computerweekly.com/ news/366559952/Royal-Mail-spent-10m-oncyber-measures-after-LockBit-attack

National Cyber Security Centre (NCSC) –CyberFirst Overview https://www.ncsc.gov.uk/cyberfirst/overview

Cybersecurity Initiatives

Digital Egypt Builders Initiative (DEBI) –Official site https://debi.gov.eg/

Ministry of Communications and Information Technology (MCIT) – DEBI overview https://mcit.gov.eg/en/Human_Capacity/ MCIT/Digital_Egypt_Builders_Initiative

National Telecommunication Institute (NTI) –LinkedIn post on international academies https://www.linkedin.com/posts/nationaltelecommunication-institute_21-instructorsfrom-the-national-telecommunicationsactivity-7317614549946228737-JOCX

Tech Africa News – NTI and Huawei AI Training Program (Jan 2025) https://techafricanews.com/2025/01/02/ntiand-huawei-conclude-ai-training-programfor-egyptian-talent-academy/

Outsourcing to Egypt: A Smart Move for the Future of UK Businesses

As the global economy becomes increasingly interconnected, outsourcing has evolved from a cost-cutting strategy into a dynamic business solution that fuels innovation, efficiency and growth. While countries like India and the Philippines have long dominated the outsourcing space, Egypt is fast emerging as a compelling alternative—particularly for UK businesses seeking fresh opportunities beyond the traditional options.

Egypt’s rise on the global outsourcing stage isn’t accidental. It’s the result of strategic investment, government backing, a highly educated workforce, and a unique combination of geographical and cultural advantages. For UK firms navigating post-Brexit uncertainty, inflationary pressures, and shifting workforce expectations, Egypt offers more than just affordability—it offers a reliable, long-term partner.

A Deep Talent Pool with Global Skills At the heart of Egypt’s appeal is its talent pool. Each year, hundreds of

thousands of students graduate from the country’s universities, many with qualifications in information technology, business management, languages and engineering. English is widely spoken, and there’s an impressive supply of multilingual professionals fluent in German, French, and Arabic—an asset for companies needing international customer support or looking to expand into European or Middle Eastern markets.

These graduates don’t just bring language skills to the table. Egyptian professionals are increasingly tech-

savvy, agile, and well-versed in the demands of international business. For roles in customer service, IT support, software development, digital marketing, and even AI and fintech services, Egypt’s workforce is equipped and ready.

Tech Infrastructure That Delivers But talent alone isn’t enough. Egypt has made major strides in its technological infrastructure. Over the past decade, significant investments have transformed its digital landscape.

The country now boasts strong internet connectivity, modern business hubs such as Smart Village in Cairo, and a thriving ICT sector that supports seamless communication and dependable service delivery. For companies relying on cloud-based operations or remote collaboration tools, Egypt’s tech environment is more than up to the task.

Time Zone Alignment That Works

Time zone alignment with the UK also plays a key role. Egypt operates just two hours ahead of the UK during British Summer Time and is in the same time zone during winter. This overlap allows for real-time collaboration and means outsourced teams can integrate easily with UK-based operations—something harder to achieve with more distant regions.

When compared to far-flung destinations that require overnight coordination or delayed responses, Egypt’s proximity becomes a real asset.

Affordability Without Compromise

Then there’s the question of cost. While price should never be the only factor in outsourcing decisions, it remains an important consideration—especially in times of economic constraint. Egypt offers a clear cost advantage, with salaries and operational costs markedly lower than in the UK and Western Europe. For businesses under pressure to reduce overheads while maintaining service quality, this makes outsourcing to Egypt an attractive solution.

Supportive Policy and Government Vision

What further distinguishes Egypt is the level of government support behind its outsourcing and IT sectors. Through the Information Technology Industry Development Agency (ITIDA), Egypt has rolled out training programmes, financial incentives, and streamlined processes to attract foreign investors. Initiatives like “Digital Egypt” aim to transform the country into a global technology hub, and the results are already visible. Global names such as Vodafone, IBM, and Dell Technologies have set up operations in Egypt, citing the talent and infrastructure as major draws.

Which Sectors Could Benefit Most?

Egypt’s outsourcing capabilities span a wide array of industries, making it a versatile partner across sectors.

Some of the key areas that stand to benefit include:

Customer

Support and Contact

Centres – Egypt is already known for its multilingual support services, making it ideal for companies needing to deliver round-the-clock customer care to international audiences.

Information Technology and Software Development – From coding and QA to app development and AI solutions, Egypt has a growing tech workforce capable of handling complex IT projects.

Finance and Accounting –

Shared service centres can manage payroll, bookkeeping, auditing, and accounts payable for UK businesses looking to reduce overheads without sacrificing compliance or quality.

Healthcare Administration –

Medical transcription, billing, and data processing are increasingly outsourced to Egypt thanks to its data security regulations and trained professionals.

E-commerce and Retail Support –

With scalable teams and digital expertise, Egypt is ideal for businesses looking to outsource order management, customer inquiries, and content moderation.

Creative and Digital Services

– Graphic design, social media management, content production and SEO are all in demand, and Egypt has a growing base of professionals serving agencies across the UK and Europe.

Outsourcing

This broad capability gives UK companies the freedom to outsource entire functions or build hybrid teams tailored to their specific needs.

A Future-Proof Outsourcing Partner

In a post-pandemic world where resilience, agility and cost-efficiency are more vital than ever, Egypt offers a modern outsourcing destination that ticks every box. It’s not just about getting the job done more affordably; it’s about forming partnerships that help businesses grow, adapt and thrive.

As the outsourcing landscape shifts, Egypt is not just catching up—it’s setting the pace. And for UK businesses looking to future-proof their operations, it may well be the smartest move they make.

Sources

Outsource Consultants – Egypt: Ancient Wonders and Modern BPO Opportunities https://www.outsource-consultants.com/ blog/egypt-ancient-wonders-and-modernbpo-opportunities

LinkedIn: 4 Reasons Why You Should Consider Outsourcing to Egypt in 2023 –Eslam Qassem https://www.linkedin.com/pulse/4reasons-why-you-should-consideroutsourcing-egypt-2023-eslam-qassem

LinkedIn: Benefits of BPO in Egypt –Second Step https://www.linkedin.com/pulse/benefitsbusiness-process-outsourcing-bpo-egyptsecond-step-cj6vf

LinkedIn: Why Choose Egypt as an Outsourcing Destination – Second Step https://www.linkedin.com/pulse/whychoose-egypt-destination-outsourcingsecond-step-5sr2f

How AI is revolutionising entrepreneurial finance

As artificial intelligence (AI) continues to reshape industries worldwide, its impact on entrepreneurial finance is particularly profound, levelling the playing field for business leaders who have capital ideas but not the capital, writes tech expert and ABCC member, Mo Farmer.

Where once spreadsheets, gut instinct and well-honed financial acumen defined the entrepreneur’s toolkit, now algorithms, machine-learning models, and predictive analytics have become indispensable. It’s not too bold a claim to say that we are standing at the cusp of a revolution—one where data, when wielded correctly, becomes as powerful as capital itself.

AI’s impact on entrepreneurial finance is substantial; it automates repetitive tasks, crunches numbers faster than a human ever could, and identifies new opportunities. But that’s not all. AI is also able to rethink how decisions are made and how risks are assessed, all at the touch of a button. The fundamental shift lies in the sheer scale of information AI can process and the actionable insights it generates, providing the clarity and precision that time-hungry entrepreneurs need to act decisively.

At the forefront of this technological renaissance are entrepreneurs like Elon Musk, whose ventures—be they in electric vehicles, space exploration, or neural interfaces—operate at the bleeding edge of innovation. Musk’s companies are prime examples of how AI has become intertwined with financial decision-making. Take Tesla: the US firm, recently valued at approximately $1.267trillion (£1.033trillion), relies on artificial intelligence for its autonomous driving technology, as can be found in the Model S, on sale in the US for around $75,000 (£61,000).

But Tesla’s operations and financial strategies are cemented in datadriven optimisation, too. The company doesn’t merely rely on AI for autonomous driving; its operations and financial strategies are cemented in data-driven optimisation. AIpowered simulations model everything from market demand to supply chain logistics, allowing the company to anticipate challenges and maximise efficiency in a way that would be impossible through traditional methods.

Empowering startups

But it’s not just the entrepreneurial titans who are reaping the rewards. The rise of AI has empowered startups and smaller enterprises to compete on an unprecedented scale. Consider how AI-driven tools now allows entrepreneurs to access insights that were once the exclusive domain of well-funded corporates. From forecasting market trends to identifying investor preferences, AI is democratising access to information, levelling the playing field for those with a shortage of resources but a wealth of ambitious ideas.

Likewise, in the past securing seed funding—the lifeblood of hungry startups—often hinged on who you knew or your ability to pitch convincingly. Today, an entrepreneur armed with compelling data generated by AI has a significantly stronger hand to play.

The predictive power of AI is also reshaping how investors approach their portfolios. Venture capital firms, private equity houses and even individual angel investors increasingly lean on AI models to inform their decisions. These tools examine the past performance of businesses seeking investment and use

Artificial Intelligence (AI)

data patterns to estimate future growth, spotting trends that people might overlook.

For example, an artificial intelligence system can analyse years of financial reports and market conditions to suggest whether a tech start-up is likely to expand or struggle.

This trend is especially evident in techheavy industries, where the speed of change demands more sophisticated decision-making frameworks. For an investor weighing whether to back a startup with an innovative but unproven concept, AI can provide a probabilistic roadmap of potential outcomes, mitigating risks while amplifying opportunities.

AI’s impact on the entrepreneurial landscape can be seen through the rise of capital-raising platforms such as Crowdcube and Seedrs, which have integrated AI into their operations to provide investors with tailored recommendations based on their preferences and financial goals. These services help connect investors with suitable projects while making fundraising quicker and more efficient. By analysing user behaviour, market trends and campaign performance in real time, AI is ensuring that capital is allocated more efficiently, benefiting both entrepreneurs and backers.

Transformative potential

Then there’s the transformative potential of AI in financial management itself. Cash flow forecasting, one of the perennial headaches of running a business, is now being reimagined by artificial intelligence. By continuously monitoring revenue streams, expenses, and external factors such as market conditions or currency fluctuations, AI can provide entrepreneurs with dynamic, real-time updates on their financial health.

This capability is particularly valuable for those navigating industries prone to volatility where even minor miscalculations can prove catastrophic. In the financial sector, for example, market fluctuations can lead to significant losses if not managed effectively.

Tech leaders like Sundar Pichai and Satya Nadella have spoken at length about the broader implications of AI, emphasising its role as an enabler rather than a threat. >>>

Artificial Intelligence (AI)

Their sentiments resonate particularly strongly in the context of entrepreneurial finance, where AI is motivating founders to think bigger, act smarter and scale faster. Microsoft’s AI-driven tools, for example, are designed to integrate seamlessly into business ecosystems, offering solutions that anticipate user needs and deliver insights in the moment.

This type of proactive support is essential. Companies that rely on real-time data, such as stock traders or online retailers, need instant insights to stay ahead. A financial firm using automated risk assessment can react faster to market changes, giving it a powerful lead over rivals.

But while the potential of AI is staggering, its implementation is not without challenges. The sheer complexity of some AI systems can be daunting, particularly for entrepreneurs who lack a technical background. Ethical considerations, too, loom large. How transparent should AI-driven decisions be? How do we ensure that algorithms trained on historical data don’t perpetuate existing biases?

These issues are real challenges that require careful management. Musk himself has raised red flags about the unchecked development of AI, warning that its misuse could have farreaching consequences. Balancing optimism with caution is essential as we harness AI to reshape entrepreneurial finance.

Education and accessibility are critical components of this balancing act. For AI to deliver its full potential, entrepreneurs need to understand the capabilities and limitations of these tools. This requires a shift in mindset: viewing AI not as a mystical ‘black box’ but as a partner in problem-solving. Increasingly, platforms are addressing this need by offering user-friendly interfaces and customisable solutions that make advanced analytics accessible even to those with limited technical expertise. The goal is to ensure that AI becomes a force for empowerment rather than intimidation.

Looking to the future

Looking to the future, the trajectory is clear: AI will only become even more integrated into every facet of entrepreneurial finance. Quantum computing, another area where Musk, Bill Gates et al. are investing heavily, promises to supercharge AI capabilities, enabling even more complex simulations and faster decision-making.

Meanwhile, advancements in naturallanguage processing will likely see AI taking on advisory roles traditionally filled by human consultants. Imagine an AI system capable of negotiating deals, drafting contract or providing strategic counsel—all in real time and with unparalleled precision.

Of course, for all its promise, the human element remains irreplaceable. AI excels at pattern recognition and optimisation but it cannot replicate the vision, creativity and resilience that define successful entrepreneurs. The true power of AI lies in its ability to augment these uniquely human qualities, freeing business leaders to focus on what they do best: dreaming big, solving problems and driving change. In this sense, AI is not the protagonist of the story but a powerful supporting character.

The revolution in entrepreneurial finance is already well underway, and its being led by those willing to embrace change and adapt to new paradigms. Musk, Pichai, and Nadella

may be leading the charge but the tools they are championing are available to all. Whether you’re launching a tech startup, running a family business, or venturing into uncharted territory, AI has the potential to transform your financial strategy and, by extension, your trajectory.

The question, then, is no longer whether AI will reshape entrepreneurial finance— it’s whether you are ready to harness its staggering potential.

About the author

Muhammad ‘Mo’ Farmer, CEO of Appbank (challenger bank), founder and president of the British Institute of Technology, England (BITE), is a global expert in technology, education, and cybersecurity. He has educated thousands of entrepreneurs, advised governments and corporations, and collaborated with tech pioneers including Sir Tim BernersLee, inventor of the World Wide Web. He also leads the Global Nuclear Skills Institute in partnership with National Nuclear Laboratory and his contributions to research and investment have driven more than £10billion into the British economy. Mr Farmer is CEO of Business School England, member of the ABCC.

MENA Region as an Education and Sports Tourism Leader

The region is being hailed as one of the most exciting places for tourism right now especially in the fields of luxury tourism, wellness tourism and sports tourism.

Member States of the UN Tourism agency from across the Middle East have met to guide the continued growth of the sector across the region. The 51st session of the UN Regional Commission welcomed high-level delegations from 13 Member States, including eight Ministers of Tourism to assess achievements, analyse sector trends and focus on key priorities.

The Middle East finished 2024 as the region in the world with fastest recovery from the impact of the pandemic.

UN Tourism Secretary-General Zurab Pololikashvili paid special recognition of the Commission’s hosts, Qatar, which is on track to hit its target of welcoming 6 million tourists a year and growing tourism’s contribution to its GDP to 12%.

“The Middle East stands out as one of the most exciting places for tourism right now. The region is a leader in fields such as luxury tourism, wellness tourism and sports tourism, and is also at the forefront of vital work to grow investments into the sector and provide education and training for millions of future tourism workers,” Secretary-General Pololikashvili said.

The region is a leader in fields such as luxury tourism, wellness tourism and sports tourism, and is also at the forefront of vital work to grow investments into the sector and provide education and training for millions of future tourism workers

Tourism education leader

The reports of the Secretary-General and the Regional Director for the Middle East, focused on UN Tourism’s work to support Members develop talent through education and professional development. Key achievement include:

30,000 students – more than half of them women – have now signed up to the UN

Tourism Online Academy, which offers 50 courses from 18 academic partners, including new courses just finalised with the support of Saudi Arabia.

The UN Tourism Education Toolkit for tourism in High Schools is being implemented in the United Arab Emirates.

10 new courses have been added to the Human Capital Development by E-Learning Project with Saudi Arabia. The platform has also been upgraded to integrate Artificial Intelligence.

Together with its Member States, UN Tourism is advancing education-related activities across the region. Notably, in Saudi Arabia, the Riyadh School of Tourism and Hospitality is training tourism professionals and giving them relevant skills to lead the sector forward.

Sports Tourism key pillar of diversification

In Doha, the growing relevance of sports tourism as a tool for economic diversification was made clear, with the success of the Qatar FIFA World Cup of 2022 presented as a model for other destinations to follow.

The FIFA World Cup, Formula 1 races in Bahrain and the United Arab Emirates, the Dakar rally in Saudi Arabia, and the acquisition of major football players and teams from around the world – were all recognized as helping make the Arab Middle East one of the most exciting and influential regions in world sports and sports tourism at the present time.

The relevance of this part of the sector was further reflected in the hosting of a special one-day conference on Sports Tourism and the Tourism Industry After the World Cup within the framework of the Regional Commission.

Wellness tourism

Reflecting UN Tourism’s commitment to strengthening resilience and creating opportunities through diversification, the significant potential of wellness tourism for the region was also emphasized. Equally, the growing importance of gastronomy tourism as a pillar of rural development and cultural heritage was underscored.

Regional cooperation

In accordance with the statutory obligations of the Commission, Member States confirmed key appointments for the years ahead. In a spirit of regional fraternity, Members agreed that Kuwait will serve as Chair as the Regional Commission for 2025-27, with Qatar as first Vice-Chair and Iraq as second ViceChair. Egypt and the UAE will sit on the UN Tourism Executive Council (2025-29).

Meanwhile, the Kingdom of Saudi Arabia will sit on the Committee on Tourism Online Education (2025-29) and the UAE will sit on the Technical Committee for the International Code for the Protection of Tourists for the same period.

To conclude, Members agreed that the 52nd Regional Commission for the Middle East will be held in the city of Kuwait in 2026.

Source: UN TourismUNWTO (edited)

Your guaranteed road

Surrounding the uncertainty of Brexit, the Arab-British Certificate of Origin remains the certain method to trade with the Arab world. There will be no changes to the certificate, and the ABCC’s services will suffer no interruption irrespective of Brexit’s outcome.

The Arab-British Certificate of Origin remains the only certain, secure and reliable means of export documentation for companies trading with the Arab world. There have been no changes to the certificate, and, likewise, the ABCC’s range of trade services remain entirely unaltered in the post-Brexit trading environment.

We at the ABCC remain available to support your exporting and wider business needs.

We at the ABCC remain available to support your exporting and wider business needs. www.abcc.org.uk

Connect to Egypt

With NBE UK

Our clients around the globe benefit from our unparalleled knowledge of Egypt. We work in partnership with them to unlock the potential of the Egyptian market by delivering bespoke financial solutions. Our core expertise is trade finance and we are focused on long term relationships. We take the time to understand your business, your requirements, and collaborate to find the most efficient solutions for you whether you are an importer or exporter to Egypt

Authority (FCA) and by the PRA (PRA reference no:204520)

National Bank of Egypt (UK) Limited is a wholly owned subsidiary of National Bank of Egypt (Registered in England no:2743734)

Registered Address & Head Office:

National Bank of Egypt House, 8-9 Stratton Street, London, WIJ 8LF

Email: Businessenquiries@nbeuk com

Website: www nbeuk com

Telephone: +44 (0) 20 7389 1200

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