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For the first time, GIFA MEA and METEC MEA will take place as a special area within the Metal & Steel Egypt. Why Egypt? A regional economic anchor! With more than 100 million citizens, Egypt has a large domestic market. The industrial base is relatively broad. As a result, Egypt is establishing itself increasingly as a gateway for exports to other African countries. The oil and gas sector as well as public infrastructure projects contribute to economic growth. Egypt is not only expanding economic ties with its neighbours, but also transport routes. A boom in digitalisation and a well-educated workforce are providing further momentum. Egypt‘s geographic location also makes it an attractive destination for foreign investment, as it provides access to the African market and the emerging economies of the region. This can be seen in the country‘s rapidly growing industries such as tourism, construction, and telecommunications. Egypt has a diverse and complex economy that has undergone significant changes in recent years. The country has a large and growing population, which presents both challenges and opportunities for economic development. In the past, Egypt‘s economy was heavily dependent on agriculture and the public sector. However, in recent years, the government has implemented a number of economic reforms to encourage private sector growth and foreign investment. These efforts have led to the development of a more diverse and dynamic economy, with growing sectors such as tourism, construction, and telecommunications.
The Egyptian government has also taken steps to develop the country‘s infrastructure, with major investments in transportation and energy projects. This includes the construction of the New Suez Canal, which was completed in 2015 and aims to increase the capacity of the existing Suez Canal, as well as the Aswan Dam, which provides hydroelectric power and supports irrigation for agriculture. With regard to these upcoming major projects, it is already foreseeable that the Egyptian market will offer good development opportunities for the foundry industry, as well as for the metallurgical sector. More details about Egypt? GDP
As of 2021, Egypt‘s GDP is estimated to be around $336.8 billion, making it the third-largest economy in Africa, behind Nigeria and South Africa. Economic growth
Egypt‘s economy has been growing rapidly in recent years, with an average growth rate of around 4-5% per year. Inflation
The inflation rate in Egypt is around 4.8%. Energy
Egypt is a net importer of energy and heavily relies on oil and natural gas, the government has been implementing a number of measures to diversify the energy mix and promote renewable energy sources. If you have any further questions, please do not hesitate to contact us. Kind Regards, Sarah Möller
Senior Project Manager
U1-P13
Phone: +49 211/4560-520
MoellerS@messe-duesseldorf.de
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