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Boxes with MADE IN EGYPT text on conveyor. 3d illustration. Image used for illustrative purpose Getty Images
In a disintegrating world, emerging markets are coming under mounting pressure to optimize the use of limited domestic resources to attain the dual objectives of financial stability and growth.
Egypt is a notable example. As the country gradually ends its reliance on a commodity-based development model, we believe its long-term competitive edge lies in three core services: tourism, logistics and renewable energy.
Focus on the three services is not intended to emasculate other industries in which Egypt enjoys a comparative advantage, such as textiles, glass, and building materials. However, unlike other industries and services, tourism, logistics and renewable energy can generate sizable net foreign currency inflows that could finance broader economic objectives, back the issuance of a stable domestic currency and rebuild a foreign exchange buffer.
