Furthermore, AmCham Egypt Inc. The advisory board includes a number of key US business leaders and executives with extensive and diversified experience and are highly reputed in the circles of decision-making. The advisory board aims to amplify the role played by AmCham Egypt Inc in supporting and maximising the benefit of the strategic relations between the two countries, in addition to increasing the volume of investment and trade exchange between them. Lebedev also noted that Egypt has a fertile soil for investment which is advantageous for US investors through the injection of new investments in the country.
AmCham regularly organises events with cabinet members and government officials so that they can share with the AmCham members the different developments taking place in various sectors and in the economy at large. We release a variety of reports including the business monthly magazine, the industry insight series, Egypt watch bulletin, Egypt economic profile, Egypt economic indicators, and others including sectoral reports, in addition to the documentations that are released on the occasion of some events including the Door-Knock missions and others. The government took several decisions as part of an overall reform programme to improve the economy.
Currently, the economic numbers are improving offering opportunities for foreign investors from around the world to invest in Egypt.
Egypt: Background and U.S. Relations*
The macroeconomic indicators are encouraging companies to look at the market as an opportunity in addition to its traditional advantages as a large market. If we look at the indicators, we find that we have gone through a difficult period of time and we have come a long way to a steady, improving economy. Figures were very difficult at some point of time, but the important thing is the gradual improvement taking place now.
For example, inflation recorded a high figure in July and now it declined, which is promising. Inflation is expected to rise again because of the movement of subsidy, yet the most important thing is that the economy is in the right direction. Unemployment rates are still high, but the overall direction is positive.
The structural reforms included some tough decisions, but they were key to move forward and in parallel the government took multiple actions to try to mitigate their impact on the community and I think that the society will start realising the benefits of these reforms in due time. I believe that economic reforms are a journey, not a destination.
Egypt has been working with the IMF for the past three years to grow its opportunities across all sectors. We need to look at the sectors that have the biggest potential and align efforts, strategies, and decisions to try to strengthen the benefits. If we as Egyptians are increasingly supporting and endorsing our economy, that will give a sign of trust to foreign investors that are aiming to come to Egypt and invest in the market. We are thankfully seeing increasing numbers of tourists in the market which is very important for the economy because all sectors are related to each other and impact each other.
This is a huge opportunity for Egypt and could be a game changer for the economy. And, taken as a whole, European bilateral aid plus EU assistance is double that of the United States. One exception may be food, medicines, and other humanitarian assistance which, according to Kim Elliott of CGD, are explicitly exempted from most US sanctions—and given this assistance is often provided through NGOs or international organizations like the World Food Program, it would not be subject to sanctions anyway. That may provide some explanation for the awkward, if not somewhat convenient, limbo in which the US government currently finds itself.
For extra-curious readers, the aforementioned CRS report includes a more detailed account of the history of assistance to Egypt and a long list of legislation under consideration in the th Congress that would impose additional restrictions on assistance to Egypt see page Thanks to Haider Raza for his assistance on this blog.
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CGD blog posts reflect the views of the authors drawing on prior research and experience in their areas of expertise. CGD does not take institutional positions. While fairly significant data gaps prevent a complete and unbiased picture, the available data show that ODA remains a comparatively prominent source of external financing for fragile states. View the discussion thread.
Skip to main content. Our Experts. Attend an Event. De-Securitizing Counterterrorism in the Sinai Peninsula. Sahar Aziz Brookings Institution April 30, Pope Francis denounces barbarity during Egypt visit, preaches tolerance.
U.S. Relations With Egypt
Egypt Is in a State of Emergency. Brown Washington Post April 13, Mohamed Soliman Foreign Affairs March 24, World Report Human Rights Watch. Sisi says suicide bomber behind church attack in Egypt.
A Convenient Terrorism Threat. Daniel Byman Lawfare Blog September 19, New York Times. Mohamad Bazzi Reuters July 1, Zack Gold Atlantic Council June 30, Egypt's Theory of Terrorism.
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Sinai Province: Egypt's most dangerous group. BBC May 12, Egypt's New Radicalism. Mokhtar Awad Foreign Affairs February 4, Egypt's Rising Security Threat. Terror in the Sinai. Egypt's Muslim Brotherhood.
Egypt Doesn't Matter Anymore. Steven A. Cook Foreign Policy June 19, Sisi Isn't Mubarak. He's Much Worse. Cook Foreign Policy December 19, Historical Perspectives on the Middle East.
Egypt: Background and U.S. Relations [February 8, ]
With Freedom and Justice for Sisi. Egypt's Putinesque Election. Democracy Is Not the Cure for Terrorism. Cook The Atlantic December 21, Micah Zenko and Steven A.
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