Egypt is the third largest economy in Africa. It is an open market economy with a relatively complete industrial, agricultural and service system. The service sector accounts for about 50% of GDP. The industry is dominated by light industries such as textiles and food processing. The rural population accounts for 55% of the total population, and agriculture accounts for 14% of GDP. Oil and gas, tourism, remittances and the Suez Canal are the four major sources of foreign exchange earnings.
After the political change in 2011, the Egyptian economy continued to decline. The average economic growth rate in the past three years was 2%, and the economic growth rate in the 2013/2014 fiscal year was 3%. In order to achieve economic recovery as soon as possible, the Egyptian government has taken a series of measures to attract foreign capital back and reduce the pressure on the fiscal deficit. Egyptian investment minister Salman said in April that Egypt's economic growth in the second half of the 2014/2015 fiscal year is expected to reach 4.2%-4.5%.
Before entering the Middle East and African markets, I believe that Egypt is the best choice. because:
1. Egypt is the largest consumer market in the Middle East and Africa and one of the fastest growing economies in emerging markets.
2. Egypt has free trade agreements with the Middle East and Africa. It has entered the Egyptian market. In addition to its domestic market, it can also cover products in the surrounding Middle East and Africa markets, with more than one billion consumers.
3. Egypt has a large amount of labor. It is not afraid to find employees when building factories here.
4. Egypt is the fastest growing and largest country in the Middle East and Africa. At present, there are a large number of infrastructure facilities, market demand is large, and economic growth is very fast. For example, there are administrative capital construction and special economic zone construction, and they all provide many employment opportunities and cooperation opportunities.
The new Cairo will have 91 square kilometers of energy farms and 21 residential communities, and there will be more demand for other supporting facilities. In addition, there are jobs, infrastructure projects, energy and services, but these are all around the topic of saving energy. The area to be developed is about four times that of Singapore.
5. In terms of lighting, the government plans to save about 20 billion yuan in energy subsidies by 2020. Such subsidies are proposed to reduce costs and use more efficient energy facilities. Egypt's lighting electricity accounts for more than 25% of total electricity consumption, and residential and commercial electricity consumption accounts for 73% of total electricity consumption. Therefore, we hope that more professional intelligent lighting solutions can replace traditional lighting and achieve energy saving. .
6. At present, the state plans to implement major lighting renovations around 2020, replacing traditional lighting with energy-saving products. In addition to government buildings, home lighting, and local outdoor lighting in all districts and counties, comprehensive renovation is required. For home lighting, we have purchased 250 million LED bulbs.
7. Other projects promoted by the government also require LED products. The LED demand in our country is very large, but where are the suppliers? In fact, there are few real LED manufacturers in Egypt, maybe only one or two, but this is not enough, so you are welcome to bring your products to Egypt.
The specific lighting needs are:
1. There is a great demand for outdoor intelligent lighting products, such as smart street lights, outdoor lighting, advertising displays, etc.
2. The demand for new light sources to replace traditional light sources is large, such as LED bulbs;
3. The total lighting solution demand for new projects.
The government has promised to support these projects and provide certain subsidies because they need to reduce costs and maximize their subsidies, but how do our suppliers seize opportunities in these projects and highlight their brand advantages? Advantages, how to compete with international suppliers? Here are some of the necessary conditions and follow-up support for entering the Egyptian market:
1. There must be a factory in Egypt to win these projects;
2. If the factory is built in Egypt, it will be able to enjoy the 1.6 billion consumer market because Egypt has tax-free agreements with Europe, the Middle East and Africa.
3. If your factory is built locally, you can get certification and support from the local government. Of course, you need to provide more after-sales service to local customers.
4. There is no need for big investment in building a factory in Egypt. There are also many institutions that can help. They have huge production capacity, but they need to find a product supplier that can provide production lines. Local processing and local sales are very advantageous. of. In addition, Egypt can also be used as an operation center to transport products to the Middle East, Europe and Africa.
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