Ease of Doing Business in Egypt
The tax and regulatory environment remains more complex than in other countries within the region. The country has different forms of taxation, such as income tax, value added tax, corporate tax, property tax and others, each with its own set of rules, rates and filing requirements. The country’s labour laws and its social security system are also complicated, and dealings with the administrative authorities are further hampered by the fact that Arabic is the sole language used in official government portals for tax, social insurance, customs and the commercial register.
While Egypt has improved in terms of ease of doing business, it’s still ranked above 100, having a score of 60.1 in 2020, an improvement from 54.4 in 2016.
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Investing in Egypt’s Startup Ecosystem
Micro, Small and Medium Enterprises contribute over 40% to Egypt’s economy, and account for over 75% of the country’s total employment. Entrepreneurship is critical to Egypt’s future. Today, Egypt consistently ranks as a top 3 tech startup ecosystem in both the MENA and Africa regions, based on funds raised by local startups. In this special report, we speak to the most active investors in Egypt and cover some of the country’s most successful startups to give you an inside scoop on how they are navigating the current VC winter, inflationary pressures and currency devaluation woes.
