Egypt: Key role earmarked for private sector in reviving growth
- Egypt: Thursday, January 03 - 2013 at 09:49
- PRESS RELEASE
The challenges Egypt's government faces as it looks to bring down expenditure while simultaneously reducing price volatility will be given wide-ranging coverage in a forthcoming report to be published by the global publishing, research and consultancy firm Oxford Business Group (OBG).
OBG has signed a Memorandum of Understanding (MOU) on research facilities for an eleventh consecutive year with the American Chamber of Commerce in Egypt (AmCham) in preparation for the Group's new project. Under the MOU, OBG will have access to the Chamber's expertise and research resources which will be used in the compilation of data for The Report: Egypt 2013.
AmCham promotes the development of commerce and investment between the United States and Egypt. The Chamber, which has around 1800 members, plays a key role supporting business representatives in their efforts to source trade opportunities and expand operations.
OBG's Regional Editor Robert Tashima said that while the outlook for Egypt's economy still contained a great degree of uncertainty, prompted in part by the ongoing political turbulence, the long-term fundamentals of the market remained extremely attractive.
"A number of indicators look set to further improve in 2013 as growth regains its footing," he added.
The CEO of AmCham Hisham Fahmy highlighted the resilience that the country's private sector had shown despite facing the challenges of a rapidly changing economic environment and political unrest.
"Egypt's sizeable private sector has a key role to play in supporting the country's development," he said.
"Oxford Business Group's forthcoming report will undoubtedly be welcomed by investors who recognise that the country's current climate of uncertainty heightens the need for information to be accurate and up to date. I look forward to pooling resources with the Group as its team begins work on this important publication."
Country Director Anné Erickson added that the decade-long partnership with the Chamber had helped give OBG's reports an edge.
"To properly research the constantly-changing opportunities and challenges in the Egyptian market, OBG spends several month speaking with hundreds of private sector stakeholders in the country and collaborating with AmCham," she said.
"Its extensive membership has allowed us to both broaden and deepen our analysis over the years and I am delighted that we will benefit from the Chamber's valuable input at what is a key point in Egypt's transition."
The Report: Egypt 2013 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will be available in print or online.
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