Page 49 - ITAtube Journal 1 2023

Tube Middle East Africa 2023
wire MEA and Tube MEA will take place as a special area within the Metal & Steel Egypt
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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 increasingly establishing itself as a gateway for exports to other African countries.
The oil and gas sector as well as public infrastructure projects contribute to eco- nomic growth. Egypt is not only expanding economic ties with its neighbours, but also transport routes. A boom in digitalisation and a welleducated workforce are provid- ing further momentum.
Egypt‘s geographic location also makes it an attractive destination for foreign invest- ment, 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, con- struction, and telecommunications.
The Egyptian government has also taken steps to develop the country‘s infrastruc- ture, with major investments in transpor- tation 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 develop- ment opportunities for the wire and cable machine industry, as well as for the tube and pipe processing industry.
02 - 04 Sept 2023 Cairo
Press contact Tube Eurasia 2023:
Mr. Patrick Hayek
Tel: +49 211 45 60 7725
Email: HayekP@messe-duesseldorf.de
ITAtube Journal May 2023
49