Egypt » Business

On taking power in 1970, Anwar al-Sadat introduced a policy of infitah (openness) towards investment. Egypt's economy underwent rapid growth during the 1970s with the swift expansion of the oil industry, tourism and the Suez Canal, and it has continued to expand in subsequent decades.

The tourist sector is expanding rapidly, particularly along the Red Sea and Mediterranean coasts, despite sporadic terrorist activities of Islamic fundamentalists. Agriculture, which relies on irrigation from the Nile, employs one-third of the working population. Foreign aid, especially from the USA, is an important source of government funds.

Cairo has an increasing number of  hotels and meeting halls, which are equipped for use as conference centres. The Cairo International Conference Centre, 12km (7 miles) east of Cairo International Airport, has an exhibition hall complex, banquet hall, parking and comprehensive facilities. There is also a convention centre at Alexandria University, which has a main hall with seating for 2,400.

Courtesy and hospitality are important when doing business in Egypt. The host of a business meeting will usually offer tea or a small snack before commencing. It’s polite to refuse the first offer, but once the host insists, the guest should then accept.

Alcohol is legal, but should be avoided until visitors know their Egyptian colleague's attitude towards drinking, and, if acceptable, should be drunk in moderation. It is not considered seemly for women to over-indulge in alcohol. If invited to a business lunch, expect food to be lavish and plentiful.

Throughout the Arab world, it is considered bad manners either to display anger or to openly criticise another person in public. Tact and diplomacy are always required. In social life, punctuality is almost laughable. For business, visitors should be on time but expect locals to be often late, and do not take offence. Men should not offer to shake a woman's hand, and vice versa, unless clearly invited to do so. Men and women should dress smartly for business meetings – suits and tie for men; suit for women or smart trousers/skirt/jacket – and always dress modestly. Shoulders and knees should never be shown.