The MediterraneanFrom Barcelona Back to BarcelonaFunding from EMP to ENP to UfM

Dr. Alaa EzzSecretary General

CEEBA & FEDCOC

The Tsunami of Funding albeit the Economic Crisis

The Instruments

Meda 2 (2000 – 2006) for 10 countries•EC Grants of € 5.5 billion•EIB loans of € 6.4 billion and •EIB risk Guarantee of € 1 billion

Meda 1 (1995 – 2000) for 12 countries•EC Grants of € 4.6 billion•EIB loans of € 3.4 billion

ENPi (2007 – 2013) for 9 countries•EC Grants of € 12 billion•EIB loans of € 8.7 billion and •EIB risk Guarantee of € 1 billion•Neighborhood Investment Fund of €700 + contributions from MS•Governance Facility of €300 million •Neighborhood programmes & accession instruments•NIF Leveraging loan resources from European Development Banks (x 4-5 times)•CBC (including ERDF) € 173 +26.4 million•Spring Fund € 300 million

UfM 1 (2008 – ????) •???????

Origins of ENPI Regulation 1638/2006 of 24 Oct, 2006

EC External assistance: Responding to the call for simplification …

More than 30 instruments for delivering external relations assistance

More than 30 instruments for delivering external relations assistance

Policy driven instruments: ► Instrument for Pre-Accession Assistance (IPA)► European Neighborhood and Partnership Instrument (ENPI) ► Development Cooperation Instrument (DCI)► Economic Cooperation Instrument (ECI)► Instrument for Nuclear Safety Cooperation (INSC)► Human Rights InstrumentCrisis response instruments: ► Humanitarian Aid Instrument ► Macro-financial Assistance► Instrument for Stability

Policy driven instruments: ► Instrument for Pre-Accession Assistance (IPA)► European Neighborhood and Partnership Instrument (ENPI) ► Development Cooperation Instrument (DCI)► Economic Cooperation Instrument (ECI)► Instrument for Nuclear Safety Cooperation (INSC)► Human Rights InstrumentCrisis response instruments: ► Humanitarian Aid Instrument ► Macro-financial Assistance► Instrument for Stability

Before 2007Before 2007

From 2007From 2007

ENPI EC financial support

MEDA has most of ENPi

► Commission proposal:

nearly €15bn ►End result: nearly € 12 bn, 45% increase in nominal terms and 32% in real terms

► 11.2 M€ ENPI & 0.8 Thematic programmes and HR instrument

► Commission proposal:

nearly €15bn ►End result: nearly € 12 bn, 45% increase in nominal terms and 32% in real terms

► 11.2 M€ ENPI & 0.8 Thematic programmes and HR instrument

Previous funding(2000-2006)

Previous funding(2000-2006)

Present funding (2007-2013)

Present funding (2007-2013)

EC budget: ►Total: €8.3bn ►MEDA €5.5bn ►TACIS € 2.3bn

► Thematic Programmes

€ 0.5

EC budget: ►Total: €8.3bn ►MEDA €5.5bn ►TACIS € 2.3bn

► Thematic Programmes

€ 0.5

Plus € 300 million SPRING FUND

EU financial Support

EIB lending (2007-2013):

► Overall figures for the new mandate includes very substantial increase for 2007-2013. Ceiling for external lending mandate for ENPI is € 12.4 bn. (Mediterranean: € 8.7 bn / East: € 3.7 bn)

► Closer cooperation with International Financial Institutions (such as EU member states and the G8) is foreseen.

EIB lending (2007-2013):

► Overall figures for the new mandate includes very substantial increase for 2007-2013. Ceiling for external lending mandate for ENPI is € 12.4 bn. (Mediterranean: € 8.7 bn / East: € 3.7 bn)

► Closer cooperation with International Financial Institutions (such as EU member states and the G8) is foreseen.

Same for EIB lending

Now the EBRD is in SEmed CountriesWith an initial € 1 billion

EIB funding is more for Private Sector

EIB funding is for SMEs

ENPI

And at Last a Regional Element

Country and multi-country programmes

Minimum 95.0%(over € 10.6 bn)

Country and multi-country programmes

Minimum 95.0%(over € 10.6 bn)

Regional & Cross-border cooperation programmes

Up to 5.0%(almost € 550 million) /enhanced by another 0,5 Bln € from ERDF funding/

Regional & Cross-border cooperation programmes

Up to 5.0%(almost € 550 million) /enhanced by another 0,5 Bln € from ERDF funding/

The ENPI Main features

Partnership not Aid

Strategy Papers

Strategy Papers

Multi-annual Indicative

Programmes

Multi-annual Indicative

Programmes

Action Programmes

Action Programmes

► Analysis of the situation

► Response strategy

►Priority sectors

► 7 years

► revised at mid-term

►normally attached to Strategy Papers

► set global and per priority allocations

► cover 3 – 4 years

►annual

► describe projects identified for financing

► define the budget per

project

►lead to EC decision & commitments of funds

ENP New Instruments

Technical AssistanceBilateral& Regional

Budget/sector support

TwinningInvestment

co-Financing

Novel Inter-EU Instruments

Taiex, Tempus, FP7, Erasmus

Regional Projects for Business– TRANSPORT: Motor Ways of The Sea; Galileo;

SafeMed

– TRADE & INVESTMENT: InMed Invest; Aghadir; Euromed Quality; EuroMed MARKET; EIB FEMIP; FEMISE;

MedADR; MedSTAT II; EU Medis;

– ENERGY: MedEnec II; MedEMIP; RCREEE; WAMGM

– R&D & TRAINING: Med Ibtekar; TEMPUS III; MedaETE

– ENVIRONMENT: Horizon 2020; Meda Water; SMAP III

But what is in it for business ?Besides EIB & EBRD Funding

BUSINESS

Indirect BenefitDirect Benefit

Access to TA

Tendering

Access to Finance

Services Supplies Works

Business Opportunities Business Environment

Reform of Public Admin.

Reform of Financ. Sector

Institution building

Business Information

TENDERING

DIRECT BENEFIT / Business Opportunities

Services (TA)

Supplies

Works

All bilateral

All Regional

All ENP Bilateral

All bilateral

All Regional

All ENP Bilateral

All bilateral

All Regional

All ENP Bilateral

Transport Sector Support; Water Sector Support; Health Sector Support; Education Sector Support; Textile Sector Support; South Sinai; TVET; RDI; EPAP II; SMAP; NATP II; MWS; Galileo; SafeMed; InMed Invest; Euromed Quality; Aghadir; EuroMed MARKET; EIB FEMIP; FEMISE; Meda water MedADR; MedSTAT II; EU Medis; MedEnec; MedEMIP; RCREEE; WAMGM; Med Ibtekar; TEMPUS III; MedaETE Horizon 2020;

Not only in YOUR Country

BUSINESS INFORMATION

DIRECT BENEFIT / Business Opportunities

- Customs Regulations- Legislative Requirements

- Investment Incentives

Business Co-operation

Research and Development

Environment and Sustainable Development

Conformity Assessment

Market Access

Certification

Environmental Legislation and Standards

European Commission’s Research and Development Programmes

“Partner Search” inside and outside the European Union

INSTITUTION BUILDING

INDIRECT BENEFIT / Business Environment

Programmes

Prog. in Financial Sector Reform

Budget Support

REGULATORY REFORM & REFORM OF PUBLIC

ADMINSTRATION

REFORM OF FINANCIAL SECTOR

RegionalProgrammes

InstitutionalTwinning

The Dream 2010 FTA

And will not Affect the South Now

95 96 97 98 99 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

Algeria

Egypt

Israel

Jordan

Lebanon

Morocco

Palestinian Authority

Syria

Tunisia

Source: Data from European Commission.

Notes: orange - no Association Agreement (AA), yellow - gradual liberalisation, green - full liberalisation.

Lags of import-tariff reductions

EU share is Small but not bad

Source: Eurostat.

Yet the EU is the main trading partner of the Med countries, absorbing around 50% of their exports

And is Supported Bilaterally

WTO joined

GAFTA

signedb

AGADIR FTA signed

Pan Euro MED RoO

US MEFTA

into forcec

bilateral with

1 Algeria observer 2002 - -2 Egypt

a 1995 1998 2004 2006 - 12

3 Israel 1995 - - 2006 1985 44 Jordan 2000 1998 2004 2001 35 Lebanon observer 1998 - -6 Morocco 1995 1998 2004 2006 2006 127 Palestinian Authority - - -8 Syria - 1998 - - 129 Tunisia 1995 1998 2004 - 12

10 Cyprus 1995 - - -11 Malta 1995 - - -12 Turkey 1995 - - - 2,6,8,9

Sources: European Commission, White House, World Bank, WTO.a Since 1998 Egypt is also a member of the Common Market for Eastern and Southern Africa (COMESA).

c US-Mediterranean Free Trade Area suggested by President Bush in 2003.

b Greater Arab Free Trade Area. Other members: Bahrain, Iraq, Kuwait, Libya, Oman, Saudi Arabia, Sudan, Qatar, UAE, Yemen .Except ALG GAFTA became effective on 1 January 2005 with a transitional system of rules of origin demanding a 40% ratio of Arab content.

Mediterranean regional trade agreements (extra EU)

But how can the South-South Dimension be strengthened

• Real Adoption of the Pan-Euro-Med Rules of Origin “RoO”

• Harmonisation of laws in economic matters, Invigoration of trade exchanges, promotion of the industrial sector, promotion of

economic activities and employment, improvement of productivity and living standards

• Co-ordination of sectoral and global economic policies, especially in the fields of foreign trade, agriculture, finance,

taxes, services and customs

• And most important, more business information and cooperation and establishment of the missing trade routes

NO South-South Dimension for2010 FTA without Trade Routes (compare North & South)

And It Worked for Aghadir

-20,000.0

-10,000.0

0.0

10,000.0

20,000.0

30,000.0

40,000.0

mill

ion

US

D

Imports Exports Balance

Imports 33,107.5 31,906.7 30,598.5 28,178.9 30,322.6 33,915.6 36,566.2

Exports 21,012.9 20,723.8 20,842.0 20,202.0 22,584.2 25,117.8 28,523.9

Balance -12,094.6 -11,182.9 -9,756.6 -7,976.9 -7,738.4 -8,797.8 -8,042.3

2000 2001 2002 2003 2004 2005 2006

Trade Between Aghadir & EU (2000-2006)

Likewise it will work for all the Mediterranean

Its time to

walk the talkand make every effort to

utilize the available funding, means, networks, and cooperation channels;

And Utilize the available Funding

• May 2011: Deauville G8 summit: Egypt and Tunisia will receive aid worth more than 28 billion euros

• September 2011: The G8 countries and a number of world and regional financial institutions pledged $73 billion in aid to Tunisia, Egypt, Morocco and Jordan – Finance ministers from the G8 pledged $38 billion – IMF promised a further $35 billion as part of the

Deauville Partnership

Funding • Overseas Private Investment Corporation (OPIC), the

U.S. Government’s development finance institution, approved $150 million in financing for investment in

consumer foods, manufacturing and financial services, a step toward fulfilling OPIC’s commitment to provide $2 billion of investment support to the MENA region,

announced by Secretary of State Hillary Clinton during her March 2012 trip to Egypt.

• July 2012, OPIC’s Board approved $500 million to support lending to SMEs in Egypt and Jordan.

• July 2012, Egypt repaid US$ 1 billion bonds and US$ 607 million of Paris Club Debt

• October 2012, Turkey committed US$ 2 billion loan for Egypt

FundingGulf Support

17 billion US$ mixed grants and loans

• Qatar: 5 billion US$ deposit at CBE” (plus 9 billion US$ immediate investments in

Alexandria and Port Said ports)

• Kuwait: 3 billion US$ “pledged” (plus a 1 billion LE fund in support of the stock exchange)

• Saudi: 4 billion US$

With Funding Eligible for foreign Companies

Saudi Support to Egypt• Budget Support Grant: 500 million US$

• SDF Grant for SMEs: 200 million US$

• SDF special loan for dev. projects: 500 million US$

• Interest Free Deposit at Central Bank to support foreign reserve: 1 Billion US$

• Government Interest Free loan: 500 million US$

• Revolving Buying of Egyptian T Bonds: 500 million US$

• Line of Credit for Saudi Exports to Egypt: 750 million US$

The Euro-MediterraneanConference & Exhibition onDonor Funding, Banking andNovel Financial Instruments

M E D A F I N A N C E

The €22 BillionInitiative

The AimTo monitor available resources and network with the EC, EU member

states and all donors & financial institutions aiming at the support of business through:

• Availing the highly needed information about sources of grants, technical assistance, soft loans, and novel financial instruments to their real target…SMEs

• Promoting novel financial instruments inclusive Non Banking & Novel Financial Instruments Factoring, Leasing, Mortgage finance, Venture Capital and private equity as the future funding mechanism worldwide.

• Strive to Repeat the InfraMed concept that was created by the Egyptian Co-Presidency of the UpM

• Giving credit and visibility to the EC and all our development partners

Meda Finance The Initiative 1. Survey of EC, EIB, EU member states and Multilateral

grants, TA, lines of Credit, as well as novel non-Banking Financial Instruments available for the Euro-Med (over $ 22 billion so far), … but we continue

2. Setting up the mechanism for periodic updating

3. Conducting "The 1st Euro-Mediterranean Conference & Exhibition on Donor Funding, Banking and Novel Financial Instruments as a networking platform

4. Sustainability of the initiative and setting up the formula for replication

5. Follow-up with customized proposals to all donors

Meda Finance The Study CD

A total of 113 instruments were sourced, that is besides the aid offered to Governments which is translated into tenders for services and supplies implemented by private sector from the Mediterranean

1. Over 43 instruments available for the whole region by 18 countries/institutions/programmes of AfDB, Belgium, EC, EIB, Finland, France, Germany, IDB, Japan, Kuwait, Netherlands, Saudi Arabia, South Africa, Spain, UAE, UNDP, UNIDO, USA, and WB/IFC/IBRD; besides what is offered to individual countries from Canada, Denmark, and Italy, .. and naturally the countries themselves.

2. Over 70 Instruments available for individual countries: Algeria 6; Egypt 35; Israel 4; Jordan 6, Lebanon 5, Morocco 10, Syria 4, Tunis 14

Meda Finance The Study CD

• Grants: in cash or as technical assistance up to Euro 1 million (50% to 80% of costs), feasibility studies, export finance, credit guarantee, diagnostics, upgrading, training, export promotion support, …etc

• Soft loans: up to 80% of project budget extending from US$ 100,000 up to 100 million, with interest from zero to less than commercial rate, both fixed and floating, both in euro/$ or local currency, with grace periods from 1 up to 8 years and maturity from 5 up to 15 years (sovereign loans are 0.75% interest, grace 10 years, and maturity 40 years)

An Annual Initiative for EuroMed SMEsTo Bridge the Bridges Project with Finance

EgyptAlbeit the present situation, it is

still The Land of Opportunities

Dr. Alaa EzzSecretary General

Federation of Egyptian & European Chambers

Egypt’s Economy Today

Key Indicators

2011 Estimates2012 estimates

2010201120122012

Real GDP Growth (%)3.30-.702.003.30

Consumer Price Inflation (av;%)11.1016.2011.6012.1

Budget Balance (% of GDP)-8.00-10.40-11.00-10.50

Current-Account Balance (% of GDP)-2.00-2.70-1.40-1.6

Exchange Rate US$:LE (av)5.636.106.206.10

Exchange Rate US$:LE (year-end)5.806.156.097.10

EIU 2011/2012

It’s the momentum of a decade

• Firm Commitment to Peace and Internal Political Stability.

• One of the top ten Global Reformers for five years (WB doing business report).

• Attractive Investment Climate.

• Free Trade Areas.

Attractive Investment Climate

•Macro-economic stabilization and comprehensive structural adjustments

•Clear transparent incentives

•Specific business opportunities

Clear transparent Incentives• Special Incentives for localizing projects.

• Lowest Tax in the region (cut by half down to 20%), yet 124% increased revenue.

• Lowest customs within the region (4 years ahead of our WTO commitments), yet doubled custom revenue up to L.E. 14.7 billion from only 7.7 five years ago.

• Human Resources, R&D and grants

• Special Free Zones or Pre-Developed Free Zones.

• The Right to Possess and Own Land at very low cost.

• No Local Partner Conditions (100% Foreign ownership)

Macro Stabilization & Comprehensive Structural Adjustments

• Deregulation, Liberalization and Privatization

• Changing Role of the Government (from operator to regulator through PPPs)

• Rationalization of Public Expenses & Subsidies

• Tax & customs Reforms,

• Free Exchange Markets & Stronger Currency

• Elimination of Trade Barriers

5 years Top Global Reformer

Macro Stabilization & Comprehensive Structural Adjustments

• Simplifying Investment procedures, it now takes less than 72 hours to establish a company instead of 6 month few years ago

• Unified investment, Labor, Banking and Telecommunications laws aiming at restructuring the business climate and strategically simplify the legal framework for investment policies.

• Issuing modern legislations related to IPR, competition and consumer protection

A top Ten Global Reformer

Booming Economyduring 2010 in a world of negative growth

• GDP: + 7.2% (in 2008), 4.7% in 2009, 6.1% first half of 2010• Industrial investments increased 5 time in 4 years to reach US$ 30 billion• Non oil Exports: Up to 105 billion US$ annually from 44 four years ago • Tourism: + 71% in four years up to 11.6 billion US$ annually• Suez Canal: +24% in 4 years to 3,1 billion US$ annually• Egyptian Workers abroad: +100% to 9.8 billion US$ • Natural gas and petrochemicals: Second export train with increased expectation

• Oil: rising international price • CBE Reserve: Exceeding US$ 36 billion dollars where it was only 12 billion just

four years ago • FDI: +700% in five years to reach 9 billion US$ annually plus 15.6 billion US$

local investments

Which will Come Back

El GhadEl Ghad

Protection Revolution

Party

Protection Revolution

Party

EgyptCommunist

Party

EgyptCommunist

Party

IslamicLabour Party

IslamicLabour Party

Reform and Development

Party

Reform and Development

Party

Freedomand

Justice Party

Freedomand

Justice Party

ArabUnification

Party

ArabUnification

Party

Reform and Renaissance

Party

Reform and Renaissance

Party

El WasatEl Wasat

El NourEl Nour

Left

KaramaKarama

Al-Tahrirrevolutionnaries

Party

Al-Tahrirrevolutionnaries

Party

Altyar PartyAltyar Party

Alwa’iAlwa’i

Free Egyptians

Free Egyptians

WafdWafd

Nasserist

Party

Nasserist

PartyTagammuTagammu

EgyptianSocialist

Party

EgyptianSocialist

Party

Free Constitutional

Party

Free Constitutional

Party

DemocraticLabour Party

DemocraticLabour Party

SocialistPopular

Alliance

SocialistPopular

Alliance

DemocraticFront PartyDemocraticFront Party

KenanaKenana

Social Democratic

Party

Social Democratic

Party

Map of Egyptian political parties

El`AdlEl`Adl

MasrAlhuryya

MasrAlhuryya

30 political parties

20 new political parties after 25 January Revolution

Socialist Alliance National DemocraticAlliance

30 political parties

20 new political parties after 25 January Revolution

Socialist Alliance National DemocraticAlliance

Secular

Right

Religious

National Party

National Party

5 liberal parties

3 center parties

3 center-left parties

5 socialist/communist parties

3 Nasserist parties

3 Former NDP members` parties

9 Political Islam parties

Change and Development

Party

Change and Development

Party

Updated: 21.07.2011

Updated: 21.07.2011

FreedomParty

FreedomParty

ECD, Cairo

Parties with an Economic Agenda

The Free Egyptians

Al Wafd Democratic Front

El Adl Masrena - Reform and Development

Masr el Horeya

Egyptian Social Democratic

El Wasat El Jadid

Freedom and Justice

El Nour

General Classification:

Liberal Liberal Liberal Liberal Democratic (Conservative)

Moderate- Centrist

Centrist Centrist Moderate Islamic

Islamic Islamic

Position on Free Market Economy (FME):

For the establishment of a FME

For FME For FME Support and regulate market economy

For FME accompanied by a social safety net and strong executive institutions

For FME For FME with strong government presence

Within the Arab, Islamic, and African arena

Role of Government:

Regulator Strong regulator / could be a strategic operator / against random privatization

Regulator and helps direct the private sector

Regulator Regulator Regulator (reduce size of government/ create policies that ensure that the gap between social levels is reduced)

Regulator Regulator (provide a political vision to regulate market dynamics/ social justice / building and maintaining infrastructure)

Mainly regulators but should develop strategic projects/ enforce antimonopoly measures/ Protect the poor

Government provides all agricultural inputs

Role of Private Sector:

Encourage and invest in SMEs and different industries/ help eradicate poverty

The main economic developer and job creator / must be socially responsible

Strong relationship of private sector and government but private sector should play a lead role in the economy

Lead role in the economy

Major driver of the economy

Lead role in the economic activity

Encourage it by ending the emergency status and provide a transparent and stable, institutional, legal environment

Important Encourage and invest in SMEs

Facebook Fans:

63001 15061 4584 14262 3200 8077 15227 11983 29115 4291

ECD, Cairo

And the Present Reserve Decline

is a Global Issue

Same for the Stock Exchange

EgyptThe Land of

Opportunities

TradeLarge domestic market

Easy access to regional markets

Regional Free Trade Areas

Bilateral Free Trade Agreements

Retail

Investment

Infrastructure and Services

Recapping Stock Exchange

Banking & Insurance

Takeover of liquidity problem companies

Subcontracting

Joint Ventures

Training Centers

Retailing

Funded Mega Projects

Gulf of Suez

East Port Said

North East Toshki

Sheikh Zayed Canal “Toushki”

East Oinaat

Free Zones

12 PPP Industrial Zones

22 New Industrial Cities

Spe

cifi

c B

usi

nes

s O

ppor

tun

itie

s

The Local MarketWith a population of over 90 million and an increasing per capita income,

Egypt has the largest domestic market in the region.

Household Expenditure

2011 per capita food consumption +9.3%; forecast to 2015 +65.1%2011 carbonated drink sales +5.6%; forecast to 2015 +56.4%2011 mass grocery retail sales +14.9%; forecast to 2015+ 251.9%

Egypt, the cross-road of trade • located in the Middle of all Trade Routs • Free Trade Areas of 1.4 billion consumers (for manufacturing

& Subcontracting 100% custom exemption, 35%-45% local content)

– EU 27 countries

– EFTA 4 countries

– COMESA 19 countries

– Greater Arab FTA “PAFTA” 18 countries

– Mercosur 4 countries

– Bilateral Free Trade Agreements USA and Turkey

• Easy Access to Regional Markets• Modern Ports, Free Zones & Transit Facilities

Egypt still poses an excellent opportunity for foreign Companies to:

• Increase Exports to Egypt– Large market for technologies, machinery & products– Lines of credit & Grants– Modernization Needs

• Increase Foreign Exports to Third countries– Added value subcontracted assembly or formulation– To benefit from Free Trade Agreements

• Use Egypt as a Transit Trade Hub for the Region– Fast and Easy Access to Regional Markets– Utilize Egypt’s Modern Free Zones & Transit Facilities

Trade, the two way approach

Foreign CompaniesTechnology, Components, CKD, Inputs, Licenses, TRAINING, QC, ..etc.

EgyptAssembly, Formulation, Installation, Arabization..etc

The Region

COMESA COMESA MercosurMercosurTurkey Turkey USAUSA

PAFTAPAFTA

EU27 + EFTAEU27 + EFTARoyalty

Japan•Funding Telephone Exchanges in Africa•Design, supervision, CKD by NEC

CEgyptAOI: Local AssemblyEgyCab: Supply of Cables

@Arab Co: Installation

Trilateral Cooperation for Africa

Japan•Finance of airports, water stations, power plants, ..etc•Supply of core components

EgyptLocal Content, civil works, ..etc.

Trilateral Cooperation for Iraq

German Government•Funding of Police training•German Companies: Curricula and train-the-trainers program

EgyptPolice Academy: Training and hosting of Palestinian Police Force

Trilateral Cooperation for Palestine

Foreign companies with Egyptian Partners for reconstruction of Libya

Vinci Bouygues Technip Eiffage

Saipem - Bilfinger Berger- Danieli & C

Techint Group Impregilo

Balfour Beatty Petrofac Ltd

Joannou & Paraskevaides

FCC - OHL - Ferrovial Agroman - EIFFAGE Tecnicas Reunidas

Grupo Isolux

HOCHTIEF - Bilfinger Berger - Joannou & Paraskevaides Ed

Zublin AG - Siemens

Polimeks Insaat Taahhut ve San Tic

Renaissance - GAMA Enka Construction

• History, Culture & Tradition• Attractive Touristic & Recreational Sites• Endless sandy beaches with International Facilities• Spacious Residential Facilities• International Education for the Children• World Class Health Services • Hospitable People and a Large Expatriate Community• Pleasant Climate all the year• And a very Spicy political climate

Moreover, Egypt offers to tourists and foreign residents:

All these world leaders and many many more, evaluated the rest to invest in the best:

ABB; Abbot; Babcock & Wilcox; Bayer; Birla; Boehringer; BMW; Cadbury; Carrier; Daimler Chrysler; Daewoo; Danieli;

DOW Chemicals; Du Pont; Eveready; General Motors; General Motors; Henkel; IBM; Johnson & Johnson; LG;

Macro, Microsoft; Moulinex; Nestle; Nissan; Otis; Otsuka; Peugeot; Pfizer; Philips; Proctor & Gambel; Roussel Uclaf; Samsung; Sandoz; Siltal; Sumitomo; Suzuki; Technocar;

Toshiba; Unilever; Westinghouse; Xerox; YKK; ..etc.

They Came to Egypt, the land of opportunities .

We Invite You toguide your companies on the path of these

pioneers who are reaping the fruit of their early arrival

Come to Egypt, in a tradition that is summarized in the following words of ancient Egyptian wisdom:

“Rig your Boat, travel near and far, look for a wise partner,

knock his door, seek his knowledge,welcome him in your home,

this is how your people will prosper”

Amenophet, 2,500 B.C.