Egypt the ‘Next Industrial Stopover ‘ For the World’s Top Brands
Egypt: the 90 million inhabitants’ nation leads the MENA region on compound frontages stepping gradually to record huge industrial growth rates banking on massive resources that gives the country comparative advantages to become the ultimate next stop for global technology makers to be present at one of the world’s top business hot spots.
Indeed, Egypt is definitely on its way to becoming the major regional industrial and commercial hub with great propensity to provide all the essential ingredients for the world’s top technology brands to supply the mushrooming new mega industrial and logistical zones around the new Suez canal and in many other spots with the required machinery and supplies.
Spotlighted at the central point of developing economies’ by virtue of its membership of the Common Market for Eastern and Southern Africa (COMESA) embracing 19 countries with a population of 400 million.
Egypt enjoys preferential market access to all member countries; while the country’s proximity to the Middle East and Mediterranean Europe also offers more for thcoming business prospects.
Already drawinga massive stream of global industrial brands, Egypt sparkles as one of the most important business destinations with noticeable and lively economic political and social advancements.
Powering multiple manufacturing processes the valuable packaging machinery and materials sector in Egypt is rising at a very fast stride such growth is attributed to the current massive industrialization diversity requiring the best technology available to enrich the quality, competiveness and value of the industrial output.
Egypt is regarded as the imminent retail driving force in the Middle East with a packaging market that is experiencing an acquisitive demand for the latest packaging technologies riding on the wave of up and coming progression in the retail, food, beverage, pharmaceutical, construction and industrial sectors.
The multi-billion dollars packaging materials and machinery market in Egypt is expected to grow at a CAGR of 12 % to meet the elevating demand on comparative packaging solutions.
Moving forward rapidly to achieve an annual growth of 8 % motivated by the huge ongoing demand of the young population the food market sector growth visibly exhibits the substantial potential for the industrial revolutionary strategies in Egypt encompassing the current industrial activities and the future’s ambitious manufacturing sector development plans.
Relying comprehensively on foreign technology acquisitions Egypt’s imports 90 % of its needs from packaging and food industry’s machinery while 10 % only is supplied through local sources.