Egypt wide open for business

Since the early nineties, the Government of Egypt was firmly committed to supporting the development of a market driven economy led by the private sector. The economic reforms have gained a big momentum by the appointment of a new government in 2004, which includes reputable figures from the private business Community. New laws and standards have been issued in many sectors to develop and better organize its operations such as the new tax law which slashed personal and corporate income taxes by 50% to a maximum rate of 20%, and Customs procedures have been simplified and tariffs were reduced from an average of 14.6% to 9%.