Success tips when doing business in Egypt in 2024

1. To optimize the success of your new business venture in Egypt, Healy Consultants recommends your Firm i) complete a feasibility study ii) prepare a detailed business plan iii) communicate with the Egypt Chamber of Commerce and iv) speak to your country embassy in Egypt;
2. Business pace is slow, especially cases with the involvement of the Government; therefore foreigners are advised to be very patient during the incorporation process when doing Egypt business setup;
3. Foreign investors are advised to develop a positive relationship with their Egyptian business partners. Relationships are considered very important in Egypt. Egyptians would not proceed further until they decide that they like their business partners;
4. Egyptians do respect age and experience, thus having an older member with impressive title in your team is an advantage;
5. Business cards of an Egyptian company should be printed in both English and Arabic;
6. Avoid using the left hand, for instance shaking hands with your business partners or handing out business cards;
7. The opening topics of a conversation should include Egyptian achievements, Egyptian reputation, and sports.

Interesting facts about Egypt

1. Egypt is the world’s 15^th most populated country with over 83 million people in 2012. Egypt also has the largest Arabic population in the world;
2. Egypt has been working with Google to increase the amount of Arabic content online;
3. The petroleum sector accounts for 15% of Egypt’s GDP in 2007 – 2008;
4. Egyptians invented the 365-day calendar and the 24-hour day;
5. The official language in Egypt is Arabic, however most business people can also speak English, French or both;
6. Egypt has a literacy rate of 72% which is higher than most African countries. The literacy rate for Egyptian males is 83% and 60% for females;
7. In 2012, there were over 31 million internet users in Egypt which accounted for 35% of the total population;
8. The tourism sector compromises 12% of the work force in Egypt;
9. Egypt is the largest rice producer in the Middle East and North Africa.