|Official name||Arab Republic of Egypt|
|Local currency||Egyptian pound (EGP)|
Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. Cairo from 2004 to 2008 aggressively pursued economic reforms to attract foreign investment and facilitate GDP growth.
With the beginning of the IMF loan program, the Authorities are defining a series of specific measures that, through incentives and regulatory simplification, aim to improve the attractiveness of the country as a destination for foreign investments with the aim of consolidating the economy growth trend. Egypt sees the development of the SME as an important factor for its growth and, in this context, Italy is seen as a reference partner. In order to attract investments and develop entrepreneurship, the Authorities have established numerous Free Zones, Industrial Zones, Special Economic Zones and Qualified Industrial Zones (formerly the Investment Act n.8 / 1997) managed by the General Authority for Investment and Free Zones. These areas have been created to give investors more incentives, guarantees and exemptions. Egypt is also a key country for access to the Middle East and Africa, being one of the most important members of the African Free Trade Zone (AFTZ).
Following the arguments previously discussed, it seems clear that investing in the waste sector in a country like Egypt, with a huge internal market and a huge waste production, can be very interesting for companies operating in this sector.
Thanks to the new law on investments and low labor and energy costs, we believe that the Egyptian market can be an important place in which Italian companies can develop their waste management work.