Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities.
The renewable energy equipment market is worth several billion dollars. Egypt’s Integrated Sustainable Energy Strategy aims at increasing the share of energy generated from renewables to 42% by 2035.
The construction market has seen double-digit growth since the 1980s, resulting in a substantial boom in residential and commercial real estate. There is strong demand for infrastructure projects because of rapid population growth and housing shortages. The sector is expected to grow 70% between 2015 and 2020, to reach $12 billion.
Egypt is the largest oil producer in Africa outside the Organization of the Petroleum Exporting Countries (OPEC) and is also the largest oil and natural gas consumer in Africa. In 2019, the Ministry of Petroleum and Mineral Resources signed contracts with 12 new exploration and production concessions with ExxonMobil, Shell, BP and others. These contracts are estimated to bring in around $800 million in initial new investment. New exploration areas include the Western Desert, Gulf of Suez, the Nile Delta, and the Mediterranean. The Egyptian government is currently accepting bids to explore for oil and gas in the Red Sea, and it is expected to open up its Western Mediterranean waters in a new bid round in the near term.
The Egyptian government is keen on improving the healthcare industry, especially relating to medical devices, and in 2015 announced plans for the development of 26 new hospitals. Currently, the government is working on implementing the National Health Insurance Program and has allocated budget for its implementation. In 2018, the government launched a pilot project to digitize medical records nationwide, and when fully implemented is expected to inject efficiency into the healthcare system and benefit patients and healthcare providers. Nevertheless, challenges include a lengthy registration process and lack of adequate protection of intellectual property rights (IPR).