Oxford Business Group (OBG) signed a new memorandum of understanding (MoU) with the Egyptian Businessmen's Association (EBA) last week as it began work on a report titled 'Egypt 2022.' Under the agreement, the EBA will team up with OBG to produce the Group's first post-pandemic analysis of Egypt's investment opportunities and economic development, and other related content. The MoU was signed by Country Director for the OBG Dana Carmen and Executive Director of the EBA Mohamed Youssef. Commenting after the signing, Youssef said that the implementation of macroeconomic reforms, combined with balanced and prudent decision-making during the pandemic, enabled Egypt to maintain GDP growth throughout the pandemic and enter the global recovery phase in a position of strength. "In a volatile global economic environment, business leaders want to have clarity on both the opportunities and challenges ahead of them when they take their decisions," he said. "OBG is known to be a market leader when it comes to providing reliable, accurate information on emerging economies, as evidenced in its detailed coverage of Egypt's reforms and the part they played in helping the country to navigate pandemic-related disruptions. We're delighted to be partnering with its team once again and contributing to this important project." Welcoming the EBA on board, Carmen said that ongoing infrastructural development and a sharpened focus on digitisation, supported by robust fundamentals and broad-based efforts to improve the business climate heightened Egypt's appeal as an investment destination. "Egypt also offers one of the biggest consumer markets in the region, which is an added attraction for new businesses eyeing the country's potential," she said. "The EBA has long supported the private sector here, working to increase its contribution to Egypt's economic and social development. I'm thrilled that we will again benefit from the local knowledge and experience of its members in our research." Egypt's bid to attract investment for key sectors of the economy and increase the private sector's contribution to growth on the back of far-reaching IMF-backed reforms will be explored in a new report by OBG. The report will shine a spotlight on the economic sectors ripe for expansion as the country moves to harness its strengths, which include a sizeable population and strategic location linking north-east Africa with the Middle East. Focal points of the analysis will include Egypt's plans to develop its industrial capabilities — particularly the manufacturing segment — with the aim of creating new jobs and boosting value-added exports. OBG's report will also look at the steps taken to enhance the country's business climate and boost competitiveness, led by an ongoing drive to streamline bureaucratic processes for investors. Other topical issues set for coverage include the initiatives being rolled out to support small- and medium-sized enterprises in recognition of the important contributions that they are expected to make to future economic growth. In this section, the report will examine Egypt's vibrant start-up scene, which is home to a growing number of tech and service providers, paving the way for the country to become an innovation hub. The report will mark the culmination of more than a year of field research by a team of analysts from OBG. It will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking, and other sectoral developments. OBG's publication will also contain contributions from leading representatives across the public and private sectors. The document will be available online and in print and will form part of a series of tailored studies that OBG is currently producing with its partners, alongside other highly relevant go-to research tools, including ESG and future ready reports, country-specific growth, and recovery outlook articles and interviews.
