Egypt Market OpportunitiesEgypt - Market 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 been growing at a rate of 15 percent per year 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 USD 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 has signed contracts with 12 new exploration and production concessions with ExxonMobil, Shell, BP and others. The estimate of the investment in the first stage is around $800 million. 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 soon.
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 budget has been allocated by the government for implementation. In 2018, the government launched a pilot project to digitize medical records nationwide and when it is 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 intellectual property rights (IPR) protection.
Egypt’s economy is diverse, with agriculture, manufacturing, energy and services constituting the bulk of output. Agriculture accounts for 40 percent of employment and 14 percent of GDP. Egypt relies heavily on imported wheat, corn and soybeans, much of which is sourced from the U.S.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
The construction market has been growing at a rate of 15 percent per year 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 USD 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 has signed contracts with 12 new exploration and production concessions with ExxonMobil, Shell, BP and others. The estimate of the investment in the first stage is around $800 million. 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 soon.
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 budget has been allocated by the government for implementation. In 2018, the government launched a pilot project to digitize medical records nationwide and when it is 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 intellectual property rights (IPR) protection.
Egypt’s economy is diverse, with agriculture, manufacturing, energy and services constituting the bulk of output. Agriculture accounts for 40 percent of employment and 14 percent of GDP. Egypt relies heavily on imported wheat, corn and soybeans, much of which is sourced from the U.S.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.