Doing Business In Egypt & Opportunities For The Italian Companies - Nasser Hamed - Consulate of Egypt Commercial Office
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Consulate of Egypt
Commercial Office
Milan
Doing Business In Egypt
& Opportunities
For The Italian Companies
Nasser Hamed
Consul for Commercial Affairs
Commercial Office of the Egyptian Consulate in Milan
Milano 4 Feb 2014
Egypt at a Glance
•The annual growth rate of the real GDP for the whole year of 2012/2013
registered 2.1 %, comparing to growth rate of 2.2 % recorded in 2011/2012.
•The budget deficit recorded 13.6% of GDP in FY 2012/2013 comparing to 10.7% in FY
2011/2012.
•In FY 2012/2013, Egypt's transactions with the external world unfolded an overall BOP
surplus of US$ 237.0 million against a deficit of US$ 11.3 billion a year earlier.
•The current account deficit declined in FY 2012/2013 to US$ 31.5 Bn from US$ 34.1 Bn last
year.
•The capital and financial account witnessed a net inflow of US$ 1.5 Bn in FY 2012/2013 from
a net outflow of US$ 0.5 Bn. Last fiscal year
•Net international reserves have increased to US$ 17 Bn by the end of December 2013.
•In November 2013 The credit rating for the Egyptian long and short-run liabilities done by
Standard&Poors was increased from +CCC/C to –B/B with Stable outlook.
•FDI in Egypt recorded a net inflow of US$ 3 Bn. During FY 2012/2013 against US$ 4 Bn.
During FY 2011/2012, However Net FDI recorded US$ 1.2 Bn net inflow in Q1 FY 2013/2014
compared to US$ 108 mn. In Q1 FY 2012/2013.
•Annual Inflation rate has increased to 10.15% in September 2013
year on year basis Comparing to 6.2% in September 2012.
•Unemployment rates: 12.7% during FY 2012/2013.
•Exchange rate for the USD December 2013 : 6.9 EGP.
Source: CBE
GDP Composition by sector
Others
14% Agriculture
14%
Services
4%
Real estate
Oil and Gas
3%
16%
T ourism
3%
Finance
4%
Retail
11%
Industry
15%
CIT
Suez Infrastructure
3%
2% 2%
Construction
5%
T ransportation
4%
Source : Central Bank of Egypt
Macro Overview | 2013-Economic Impact
5.1%
2.2% 2.1%
1.9%
Source : Central Bank of Egypt
•Economic activity remained sluggish in 2012/2013 on the back of weak growth rates in most of
the key sectors namely manufacturing, construction and tourism , in addition to the contraction
in the petroleum sector. In the Meantime Investment levels remained low given the heightened
uncertainty that faced market participants since early 2011 and the weak credit growth to the
private sector.
•Looking ahead, downside risks that surrounded the global recovery on the back of challenges
facing the Euro and softening growth in emerging markets could pose downside risks to domestic
GDP going forward.
Macro Overview | 2013-Economic Impact
Source : Central Bank of Egypt
• Net International Reserves witnessed improvement after 30th of June.
Macro Overview | 2013-Economic Impact Source : Central Bank of Egypt •Egyptian exports were worth $25.9 Bn. during FY 2012/2013 reflecting 3.6% increase in exports Compared to $ 25 Bn in FY 2011/2012. •Egyptian imports were worth $57.5 Bn. In FY 2012/2013 Reflecting 2.9% decline in imports compared to $ 59.2 Bn during FY 2011/2013. •Trade deficit decreased by 7.6% to $31.5 Bn. FY2012/2013 against $34 Bn. FY 2011/2012
Source : Central Bank of Egypt
Macro Overview | 2013-Economic Impact
Main Exports by Commodity & Geographical Distribution
Source : Central Bank of Egypt
Macro Overview | 2013-Economic Impact
Main Imports by Commodity & Geographical Distribution
Source : Central Bank of EgyptMacro Overview | Longer-Term Outlook
Solid Investor
“New Egypt”
Fundamentals Confidence
Economic
Location Growth and
social justice
Investment
Financial and
Human Capital Monetary
Growth
Balance
Large Market Clear
Governance
Improved Macro
Solid Banking Fundamentals
System Institutional &
Reform Growth PotentialWhy Invest in Egypt ? • A sustained growth rate of 7% over the period between 2005 and 2008. • Despite being affected by the current political unrest the growth rate kept at positive levels during the past three years. • A large population (82.5 Mn in 2012) and hence a large consumer market where per capita income was at EGP 19097 ($ 2760) in 2011/2012. • At around 23.6 million in 2012, Egypt has the largest labor pool in the region with a competitive labor cost.
The Ease of Doing Business in Egypt
• The regulatory and institutional frameworks governing Foreign investment in Egypt have
seen significant overhauls in the past several years. Those reforms and protections based on
the concepts of property rights protections, equality and ease of doing business include:
Fast-track dispute resolution services for all investors.
100% foreign ownership of companies for foreigners.
Profit and dividend repatriation, dispute resolution and settlement mechanisms
implemented.
Comprehensive corporate governance principles which means the rules, processes, or
laws by which businesses are operated, regulated, and controlled. , anti-money
laundering, anti-trust and consumer protection laws.
New commercial court system now rolling out nationwide to settle business disputes.
Incorporation time slashed from an average of several months to only 72 hours.
Source: CBEThe Ease of Doing Business
Removing restrictions on minimum capital of limited liability companies and reducing
incorporation fees.
20% flat tax rate, according to the Tax Law No. 91 of 2005.
Minimum capital requirements for LLC reduced to EGP 200.
One Stop Shop which contains 53 representative offices from different authorities , taking
into consideration that the One-Stop Shops introduced at multiple locations throughout
the country;
Launching the first phase of electronic establishment of companies through the internet (in
Arabic)
Property registration fees reduces where cap is at EGP 2000
Establishing the Egyptian Credit Bureaus (i-score)
Reducing the time necessary to register property from 72 to 63 days.
Introduction of Nilex; The region’s first small cap stock exchangeInvestment Policy Framework
Category Inland Investment Investment Zones Special Economic Zones
• 20% & 40.55% for oil and gas • 20% & 40.55% for oil and gas • 5% flat tax rate on personal
companies companies income tax
Income Tax • 10 years Exemption for • 10 years Exemption for
Agriculture and animal production Agriculture and animal production • 10% tax on all activities within the
activities. activities. zone
• Custom procedures for
• 2-32% depending on the product
production input will be
Import Duties • Flat rate of 5% of the value of administered in the zone None
imported machinery and
• Equipment customs are paid in 5-
equipments
10 years installments
• No duties when exported out of
• Sales taxes are paid in 5-10 Egypt
Export Duties • 5-25% of value of all sale years installments • No duties on domestic
and Sales Tax transactions components when sold in Egypt
• Exported good are tax exempted • 10% of value of non domestic
components when sold in Egypt
• 10-20% depending on salary • 10-20% depending on salary
Payroll Tax • 5% for all salary levels
level level
Export •Depending on zone board’s
None None
Minimum decision
• Protection against expropriation • Companies established within the • Egyptian certificate of origin for
and compulsory pricing investment zones are to enjoy SEZ based exporters
Other
incentives given to both inland • Integrated custom and tax
Incentives • Full right of profit and dividend and upper Egypt investment administration, licensing, and
repatriation regimes. dispute settlement
Source : GAFILow Cost of Doing Business
• Competitive tax rates - corporate and
personal tax rates top out at only 20%
• Developed infrastructure with 15 commercial
ports in addition to 44 specialized ports to
serve importers and exporters, an expanding
airport network catering to both passengers
and cargo.
• An abundance of natural resources and
competitively priced water, power and gas.
Source: CBE, Ministry of InvestmentCompetitiveness
Competitive Access to Large
Lucrative Returns Await Manufacturing Export Domestic
Costs Markets Market
FDI Inflow
Egypt’s competitive
advantages make a compelling
case for increasing FDI in Strategic Government
Location policy
Egypt.
Comparative Wages Comparative Electricity Prices
10
Electricity prices compared to 8
Wages compared to Egypt in US$/ hr 1.6 Egypt (Cents KWatt/ hr)
1.2 7
0.7
4
0.5
Egypt India Tunisia Turkey Egypt Turkey India Tunisia
Source: AmCham, GAFI Information Center,Preferential Trade Agreements with Key
Global Markets
• The EU – Egypt Association Agreement grants Egypt preferential access to the EU market
of 500 million.
• The EFTA-Egypt Free Trade Agreements grants access to the markets of Iceland,
Liechtenstein, Norway and Switzerland in industrial and agricultural products.
• Free duty access to the US market of 300 million customers through the QIZ protocol.
• The COMESA, a common market for Eastern and Southern Africa creates a free trade area
among the 19 member states.
• AGADIR Declaration creates grants Egypt a free trade zone between Egypt, Morocco,
Jordan, and Tunisia in addition to a rules of origin advantage.
• Egypt – Turkey free trade agreement
• GAFTA: ratified by 22 Arab nations, involving the phasing out of customs and duties while
eliminating non-tariff barriers.
• MERCOSUR : access to the markets of Latin-America through a Free Trade agreements
with MERCOSUR countries.
Source: CBEPreferential Trade Agreements with Key
Global Markets
EGYPT‘Egypt 2022’ economic development plan The medium term plan • Macroeconomic stability; real growth rates to reach 3.5% by investing 291 bn. Egyptian Pounds (41 bn USD), 121 billion (17 Bn. USD) Public Investments and 170 billion (24 Bn. USD) Private. • Lunching two stimulus programs to boost the economy each one values EGP 30 Bn ($ 4.3 Bn.) without overloading the budget, in different sectors mainly the infrastructure as follows: • Reducing the budget deficit to 9% of GDP down from 13.6%. • Reducing inflation; with the aim of bringing inflation levels below 7%. • Maintaining a flexible exchange rate set by free market forces, while avoiding short term volatility.
‘Egypt 2022’ economic development plan
The plan includes :
Lunching two stimulus programs to boost the economy each one values EGP 30 Bn ($ 4.3 Bn.)
without overloading the budget, in different sectors mainly the infrastructure as follows:
housing projects(50,000 residential units),
Building 100 School
Continuing connecting 151 village through the sewage network.
building roads and bridges (17 road projects) ,
The completion of the 3rd Metro line,
Upgrading of the electricity power stations,
purchasing 600 buses for public transportation to work with natural gas,
reclaiming 32,600 agriculture acres.
Developing the government’s information technology infrastructure and , qualifying
the workforce and developing Egypt’s internal trade system to curb high prices.Public Private Partnership Projects
Tendered Project
Project Name Abu Rawash Wastewater plant
Tendering
Construction Authority For Water & Waste Water (CAPW)
Authority
Project Increase Plant capacity to fulfill required demand and raise treatment level to
Objectives meet the environmental conditions
Design, financing, raising capacity of plant from 1.2 million m3/day to 1.6
Project million m3/day and construction of an advance secondary treatment stage
Description for the Abu Rawash Wastewater Treatment Plant , and the operation and
maintenance of the whole plant with a capacity of 1.6 million m3/day.
Transaction & financial advisor: Ernyst & Young
Project
Technical advisor: CH2 MHIL
Consultants
Legal advisor: Trowers & Hamlins
Pre-feasibility
Studies European Bank for Reconstruction and Development (EBRD)
financed by:Tendered Project
Project Name Abu Rawash Wastewater plant
Private sector role: Construct, manage, operate & maintain the plant for 20
years (3 years construction + 17 years operation) and handover the plant in
excellent operational condition after contract duration
Project
Public sector role: Provide project land, influent wastewater and pay
Structure
quarterly treatment charge after starting operation phase as well as
presenting government role in monitoring, supervision and applying related
laws and ministerial decrees.
Investment
4.5 Billion EGP
Costs
Currently amending tender document and draft contract based on
changing project scope received by PPPCU from tendering authority in
October 2013.
Time Table
Expected time to finalize documents: Jan 2014
Submission of Bids: April 2014.
Contract award and signature in June 2014Projects to be tendered in Q 1/2014
Project Name Safaga Industrial Port
Tendering The Executive Organization For Industrial & Mining Projects / Ministry
Authority of Industry & Foreign Trade
Establishment of a number of value-added industrial and logistics’
projects the use of surplus of the current berth productivity and the
Project unused yards inside the port which is estimated by 719 000 m2. These
Objectives projects will be selected according to the needs of the direct and outer
hinterland (South Valley governorate), and the economic projects’ need
that will be established in the national project of the Golden triangle.
Development & Upgrade of Safaga mining port that includes a platform
for exporting crude Phosphate to be an Industrial Port through
establishment of 2 industrial zones to establish a number of value-
added industrial projects that will be needed for the port direct and
Project
outer hinterland, with the availability of logistic services (transport,
Description
sorting, storage, quality tests, packing) as follows:
- Liquid bulk terminal.
- Livestock terminal with meat processing facilities.
- Grain storage and milling terminalProjects to be tendered in Q 1/2014
Project Name Safaga Industrial Port
Pre-feasibility
Studies’ HPC Hamburg Port Consulting GmbH
Consultants
Pre-feasibility
Studies Arab Financing Facility for Infrastructure (AFFI)
financed by:
Private sector role: Construct, manage, operate & maintain the and
Project handover the first industrial zone after contract duration
Structure Public sector role: presenting government role in monitoring,
supervision and applying related laws and ministerial decrees.
Investment
100 Million USD
Costs
Pre-feasibility study has been finalized in December 2013
Time Table Tendering Procedures: March 2014 after the approval of PPP
Supreme CommitteeProjects to be tendered in Q 1/2014
Project Name Cairo Contact Centers Park (CCC)
Tendering
The ministry of Communications and Information Technology (MCIT).
Authority
Achieve the integration with the plan of Ministry of Communications and
Information Technology (MCIT) by spreading geographically (East Cairo)
for the deployment of clusters specialized in the manufacture of
communications and information technology after the success story of the
Project Smart Village (west of Greater Cairo) as development of a national project
Objectives aims to the exports development of Egypt for telecommunications services
industry, information technology and outsourcing industry.
Put Egypt on the global map of telecommunications services and
information technology and provides value-added export of approximately
($ 1.2 billion per year) in the field of outsourcing when it is completed.
The investment will start in the second quarter of 2014 through three
stages and ending in 2017. It will include the usufruct of lands with a total
Project
area of 39,000 m2 for the construction of 27 buildings on 3 stages with
Description
total land areas of (1300-1400 m2) per piece to the Egyptians, Arabs and
foreigners investors.Projects to be tendered in Q 1/2014
Project Name Cairo Contact Centers Park (CCC)
Pre-feasibility Financial consultant: Young & Ernest
Studies’ Technical consultant: WSP Middle East
Consultants Legal consultant: Trowers & Hamlins
Pre-feasibility
Studies International Finance Corporation (IFC)
financed by:
Private sector role: Design, Construct, Finance, Operate & maintain
Project Public sector role: : Provide project land and presenting government role
Structure in monitoring, supervision and applying related laws and ministerial
decrees.
Investment
Approximately 100 Million USD for the first stage.
Costs
Pre-feasibility study has been finalized in December 2013
Time Table Tendering Procedures: February 2014 after the approval of PPP
Supreme CommitteeProjects to be tendered in Q 1/2014
Project Name Nile River Bus Ferry
Tendering
General Transportation Authorization in Cairo / Cairo Governorate .
Authority
Develop the transportation service that are offered by Nile River Bus Ferry to
Project
improve the performance of services level and create an advanced level for
Objectives
services, to attract a larger segment of its users >
The Nile River Bus Ferry suffers from a high degree of deterioration where 9
boats only are in operation , and the terminals suffer from a high degree of
deterioration which reduces the numbers of users as a percentage of current
Project population. The required services are as follow :
Description 1.Purchase, finance and operate the River Transport Fleets(30 boats).
2.Develop 16 current terminals and add around 12 new terminals including :
Design, Build, Finance, Operate and Maintain .
3.Suggested project duration 30 years .Projects to be tendered in Q 1/2014
Project Name Nile River Bus Ferry
Pre-feasibility
Studies’ WSP Company (British Co) , and Mena Rail Transport Consultants
Consultants
Pre-feasibility
Studies European Bank for Reconstruction and Development ( EBRD ) .
financed by:
Private sector role: Design, build and operate the Nile River Bus Ferry system
, and maintain the fleet of Nile River Bus Ferry and its terminals through
executing a contract for the provision of services .
Project
Public sector role: Availability the rivers Nile lines, facilities and terminals to
Structure
the investor, and River Transport Authority, Ministry of Irrigation, Cairo
Governorate and the Ministry of Tourism are responsible for issuance of
required licenses.
Investment
Approximately, from 500 to 600 million EGP
Costs
Expected time to finalize Pre-feasibility study in Jan 2014
Time Table
Tendering Procedures: Q1, 2014Projects under study to be tendered
Q3/2014
Project Name Suez Canal Specialized University Hospital
Tendering
Ministry of Higher Education / Suez Canal University
Authority
The Suez Canal University aims to provide and upgrade specialized
clinical and educational services according to the international
standards and medical codes, also to resupply the shortage in the vital
Project Objectives services such as intensive care, neonatal ICU and advanced clinical
services such as neurosurgery and vascular surgery. Suez Canal
University Hospital serves five Governorates in Egypt (Port Said,
Ismailia and Suez and the North Sinai, South Sinai).
The Suez Canal specialized university hospital was built 9 years ago
with the capacity of 230 beds, the University could not operate or
Project Description refurbish or equip or furnish the building due to the lack of financing.
Suez Canal University wishes to tender the hospital building through
the PPP Program.
Pre-feasibility
Studies’ Technical Consultant: Mott MacDonald
ConsultantsProjects under study to be tendered
Q3/2014
Project Name Suez Canal Specialized University Hospital
Pre-feasibility
Studies financed Arab Financing Facility for Infrastructure (AFFI)
by:
Private sector role: Finance, refurbish, Furnish, Equip, maintain and
provide non-clinical services as catering, security, cleaning
maintenance of the building and equipment, and handover the
hospital after contract duration
Public sector role: Responsible for the provision of all clinical,
Project Structure
educational activities related to the Project and its costs. These include
medical consumables, and clinical staff (doctors, nurses, etc.),. The
Private sector will receive periodic Service Availability Payments, as
well as presenting government role in monitoring, supervision and
applying related laws and ministerial decrees.
Investment Costs TBD after finalizing the pre-feasibility studies
Based on change of scope and the number of beds from Suez
Canal University, it is expected to finalize the Pre-feasibility study
Time Table
in March 2014
Tendering Procedures: June 2014Projects under study to be tendered
Q3/2014
Project Name Hurghada Desalination Plant
Tendering Authority National Authority For Potable Water and Sewage
Provide drinking water to meet citizens’ demand in the
Project Objectives
Governorate
Construction of Hurghada desalination Plant with total capacity of
Project Description 40,000 M3/day to provide Hurghada with the necessary Water ,
the plant will be constructed on 2 phases 20,000 m3/day each
Pre-feasibility Waiting for allocation of required lands to start tendering and
Studies’ Consultants contracting the advisor
Pre-feasibility Studies
Agreement With EBRD to Finance the pre-feasibility studies
financed by:Projects under study to be tendered
Q3/2014
Project Name Hurghada Desalination Plant
Private Sector Role : Design , Finance , construct , operate & maintain
the Plant
Project Structure Public Sector Role : Provide the land of the Project and buy the full
production of the plant and presenting government role in
monitoring, supervision and applying related laws and ministerial
decrees.
Investment Costs Will be determined after finalizing the pre-feasibility studies
Estimated to Finalize the pre-feasibility study and begin the
Time Table
tendering procedures is Q3, 2014Projects under study to be tendered
Q3/2014
Project Name Sharm El Sheikh Desalination Plant
Tendering
National Authority For Potable Water and Sewage
Authority
Project
Provide drinking water to meet citizens’ demand in the Governorate
Objectives
Project Construct of Sharm El sheikh Desalination Plant With total capacity of
Description 20,000 m3/ day
Pre-feasibility
Waiting for allocation of required lands to start tendering and contracting
Studies’
the advisor
Consultants
Pre-feasibility
Studies Agreement with EBRD to Finance the pre-feasibility studies
financed by:Projects under study to be tendered
Q3/2014
Project Name Sharm El Sheikh Desalination Plant
Private Sector Role : Design , Finance , construct , operate & maintain the
Project Plant
Structure Public Sector Role : Provide the land of the Project and buy the full
production of the plant and presenting government role in monitoring,
supervision and applying related laws and ministerial decrees.
Investment
Will be determined after finalizing the pre-feasibility studies
Costs
Estimated to Finalize the pre-feasibility study and begin the tendering
Time Table
procedures is Q3, 2014Projects under study to be tendered
Q3/2014
Project Name Heliopolis / New Cairo Metro
Tendering
Cairo Governorate
Authority
Project Helping in Solving the Traffic & Transportation Problems by using an
Objectives Unutilized Methods of transportation
Redevelopment of Heliopolis / New Cairo Metro From Heliopolis To 10th
Project
District –Nasr city , and establish of a new Metro line to connect between
Description
Nasr City and American university in New Cairo City
Pre-feasibility
Technical Consultant : SNC - Lavalin
Studies’
Legal Consultant : Gide Loyrette
Consultants
Pre-feasibility
Studies World Bank
financed by:Projects under study to be tendered
Q3/2014
Project Name Heliopolis / New Cairo Metro
Private Sector Role : Construct , Manage, Operate & Maintain of the
Project
Project
Public Sector Role : Provide the necessary path of the metro line and
Structure
presenting government role in monitoring, supervision and applying
related laws and ministerial decrees.
Investment
Will be determined after finalizing the pre-feasibility studies
Costs
Estimated to Finalize the pre-feasibility study May 2014
Time Table
Expected time to begin the Tendering procedures is Q3, 2014Projects under study to be tendered
Q3/2014
Project Name Rollout & Automation of the Notarization Offices in Egypt Project
Tendering Ministry of Justice - Ministry of Communications and Information
Authority Technology
The main objective is to extend a consistent, efficient and superior
service to the Egyptian public through a fully automated and fully
integrated network of Notary Offices spread across the country. This
Project will be achieved by providing the citizens with better waiting
Objectives conditions, more professional service and an overall better
experience.
Compile and secure a national archive of the notarized transactions
performed throughout the country
Rollout & Automation of the Notarization Offices for 270 offices
around the country through upgrading the current offices and
perform necessary civil works to bring all notary offices.
Take over the current Data Centre, and perform the necessary
Project
maintenance and upgrading that is required to accommodate the load
Description increase expected to render the service throughout the country.
Provide a set of new value added services to the public through
creating online and mobile set of applications that citizens can use
remotely.Projects under study to be tendered
Q3/2014
Project Name Rollout & Automation of the Notarization Offices in Egypt Project
Pre-feasibility
Studies’ Ministry of Communications and Information Technology
Consultants
Pre-feasibility
Studies ________
financed by:
Private Sector Role : Construct , Execute the engineering works &
technology infrastructure, Manage, Operate, Maintain, Training, & follow
Project
up the services level of all the offices for Project duration.
Structure
Public Sector Role: Provide staff from the Ministry of Justice for the
notarization process, as determined by the law
Investment
Approximately 650 Million EGP
Costs
Expected time to finalize Pre-feasibility study in March 2014
Time Table
Tendering Procedures: May 2014Egypt&Italy Trade & Investment
Main Contractual Framework
Agreements: Egypt -Italy
Agreement Date of entry into force
Egypt- EU Association Agreement 2004
Action plan (ministry of Trade & Industry of 2012-2015
Egypt – Ministry of Economic Development of
Italy)
Agreement on cooperation in the maritime field 2008
MOU for Strategic Cooperation 2008
MOU between GAFI and SIMEST 2005
Agreement for the conversion of debt 2001
Protocol to support SMEs 1998
Avoidance of Double taxation Agreement 1994
Agreement to promote and protect the 1982
investments between the two partiesBilateral Trade : Egypt-Italy
(value : million euro )
Jan – Jan
Item/ Year 2009 2010 2011 2012 sep – sep variation
2012 2013
Egyptian Exports 1,422 1,888 2,528 2,296 1,828 1,362 -25.5%
Petroleum Exports 764 1,008 1,319 1,359 1,097 610 -44.4%
Non Petroleum Exports 658 880 1,209 937 731 752 2.9%
Egyptian Imports 2,617 2,936 2,590 2,863 2,033 2,013 -1.0%
Trade Volume 4,039 4,824 5,118 5,159 3,861 3,375 -12.6%
Trade Balance -1,195 -1,048 -62 -567 -205 -651 217.6%
Source:ISTATTop Egyptian Exports to Italy
during the period (2010 – 2012):
(value : million euro )
Products by HS Code chapter 2010 2011 2012 Variation %
27-MINERAL FUELS, MINERAL OILS 1,025.3 1,464.3 1,404.8 -4.06%
76-ALUMINIUM AND ARTICLES THEREOF 169.9 220.3 220.2 -0.07%
52-COTTON 79.3 99.3 88.9 -10.42%
31-FERTILIZERS 69.7 112.5 79.4 -29.40%
7-EDIBLE VEGETABLES AND CERTAIN ROOTS
AND TUBERS 75.9 87.8 67.8 -22.81%
72-IRON AND STEEL 95.4 98.6 34.2 -65.29%
25-SALT; SULPHUR; EARTHS AND STONE;
PLASTERING MATERIALS, LIME AND CEMENT 38.7 38.2 30.5 -20.20%
41-RAW HIDES AND SKINS AND LEATHER 33.0 34.7 25.1 -27.75%
62-ARTICLES OF APPAREL AND CLOTHING
ACCESSORIES 35.1 24.8 22.8 -8.00%
39-PLASTICS AND ARTICLES THEREOF 21.0 28.6 28.6 -0.23%
Source:ISTATTop Egyptian Imports from Italy
during the period (2010 – 2012):
(value : million euro )
Products by HS Code chapter 2010 2011 2012 Variation %
84 - BOILERS, MACHINERY AND MECHANICAL
APPLIANCES 1,208.7 974.3 818.4 -16.00%
27-MINERAL FUELS, MINERAL OILS AND PRODUCTS
OF THEIR DISTILLATION 311.0 419.2 856.6 104.33%
85-ELECTRICAL MACHINERY AND EQUIPMENT AND
PARTS 187.0 192.0 119.1 -37.97%
39-PLASTICS AND ARTICLES THEREOF 94.7 107.8 129.3 19.90%
29-ORGANIC CHEMICALS 125.8 91.3 47.8 -47.67%
73-ARTICLES OF IRON OR STEEL 95.1 86.5 75.5 -12.67%
72-IRON AND STEEL 108.1 63.0 74.5 18.34%
87-VEHICLES OTHER THAN RAILWAY OR TRAMWAY
ROLLING-STOCK 105.9 55.2 54.5 -1.20%
38-MISCELLANEOUS CHEMICAL PRODUCTS 64.4 60.2 76.3 26.66%
32-TANNING OR DYEING EXTRACTS 67.8 49.2 49.2 -0.06%
Source:ISTATItalian Investments in Egypt
•Total Italian Total capital 2.7 Billion US Dollar.
investments in Egypt Italian Participation 1.5 billion US Dollar.
(in 31/7/2013) Total projects 866
Italy rank 11th among foreign investors in Egypt.
•Main investment Finance, No. of companies (6), value: 919.5 Million USD.
sectors / Value of Industry, No. of companies (269), value: 254 Million USD.
Italian Shares Services, No. of companies (274), value: 192.9 Million USD.
Tourism, No. of companies (183), value: 80.1 Million USD.
Construction, No. of companies (93), value: 9.7 Million USD.
•Main investing Intesa Sanpaolo “Bank of Alexandria” – Banking & Finance
companies in Egypt Italcementi – 5 Cement Plants
ENI – Petroleum
Pirelli “Alexandria tires”
Italgen – Renewable energy
Tecnimont – Fertilizers
Techint - Constructions
Domina Group - Tourism
Cottonificio Albini “Mediterranean textiles” – Textiles
Danieli Group – Steel Industries
Edison - PetroleumTHANK YOU
ًشكرا
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