Learn about barriers to market entry and local requirements, i.e., things to be aware of when entering the market for this country.
To improve the ease of doing business and increase foreign direct investment, the GoE in coordination with the IMF has introduced significant reforms since 2016, including floating the local currency, introducing a value added tax system, and implementing various laws related to investment, bankruptcy, and capital markets. Long-term monetary policy and fiscal reforms, including a broadening of the tax base and subsidy reform, are critical to overall economic stability.
Though Egypt is a signatory to international arbitration agreements, its courts do not always recognize foreign judgments. Resolution of commercial disputes is very slow with the time to adjudicate a case to completion averaging three to five years. The GoE continues to be reluctant to include international arbitration clauses in commercial contracts and agreements with the exceptions of the Petroleum Ministry and investments in mega projects with the approval of the Ministry of Finance. Other obstacles to increased trade and investment include excessive bureaucracy, a shortage of skilled labor, limited access to credit, slow and cumbersome customs procedures, intellectual property issues, corruption, and non-tariff trade barriers.